TECHGEN METALS LTD — Regulatory Filings 2021

Dec 5, 2021

(ASX: TG1) December 6[th] 2021

ASX ANNOUNCEMENT

PATERSON OROGEN GEOPHYSICS UPDATE HARBUTT RANGE PROJECT

INVESTMENT HIGHLIGHTS

• TWO PRIMARY BEDROCK CONDUCTORS IDENTIFIED BY GROUND EM SURVEYS COMPLETED AT THE CONTROL PROSPECT

• MODELLING OF AIRBORNE EM DATA HAS REFINED KEY TARGETS AT EL GRINGO AND KAOS PROSPECTS

• HISTORICAL HIGH CHARGEABILITY IP TARGETS AT ANOMALY A, B, & C MODELLED AND TO BE TESTED

• THE PATERSON OROGEN IS RECEIVING A HIGH LEVEL OF EXPLORATION INTEREST FOLLOWING THE HAVIERON AU-CU DISCOVERY BY GREATLAND GOLD IN 2018 AND THE WINU COPPER/GOLD DISCOVERY BY RIO TINTO IN 2019

• TECHGEN METALS TARGETING PATERSON COPPER – GOLD TARGETS Q1/Q2 2022

TechGen Metals Limited (ACN 624 721 035) (“TechGen” or the “Company”) is pleased to provide an update on exploration activities at the Company's 100% owned Harbutt Range Project located in the Paterson Orogen of Western Australia. The Harbutt Range Project is located 320 km east of the town of Newman on the edge of the Great Sandy Desert. The project comprises two granted Exploration Licences, E45/5294 and E45/5439, covering a combined area of 376 km[2] .

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Image 1 : Photo showing the landscape at the Control Prospect – Paterson Orogen.

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The Harbutt Range Project lies within the Rudall Complex, the older portion of the Proterozoic-aged Paterson Orogen. Several untested geophysical targets, EM and IP, are known within the project areas which is considered highly prospective for gold and base metal discoveries. Work by the Company to date at the project has been aimed at refining priority targets for drill testing.

Wireline Services Group has now completed a fixed loop EM survey at the Control Prospect (Image 1 & Figures 1 & 2). Two clear primary bedrock conductors of moderate strength have been identified from the survey work and these targets are now ready for drill testing. The western target is approximately 150m x 250m in extent and the eastern target 300m x 500m in extent with depth to top of the modelled plates of around 100m (Figure 1).

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Figure 1: Ground EM results from the Control Prospect showing two bedrock conductors in the south (Purple areas are conductors; Plan view, Channel 20).

The Harbutt Range Project contains several high priority geophysical targets (EM and IP). The completion of ground EM at the Control Prospect was the final technical groundwork required to refine targets prior to commencement of drill testing planned for 2022. Table 1 provides a list of high priority targets within the project area and their features. Targets consist of both EM and IP targets some which have coincident EM and IP and some which have associated magnetic highs or lows. The Ninety-Nine prospect has previously had a single hole drilled which intersected gold anomalism, however the hole did not intersect the IP chargeability target (Hole BDRC022 intersected 2m @ 0.43g/t Au from 273-275m and 1m @ 0.75g/t Au from 283-284m; Rumble Resources Limited, A118315).

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Figure 2: Harbutt Range Project area with Airborne EM over Airborne Magnetics.

Table 1: Priority targets identified at the Harbutt Range Project.

Target	Description	Status
Control Prospect	Two primary, moderately conductive, bedrock EM conductors. Coincident magnetic low.	Untested
El Gringo Prospect	Airborne EM conductor and coincident magnetic high. Weak to moderate conductivity.	Untested
Ninety Nine Prospect - AnomalyA	Moderate IP chargeable response (>15mV/V), moderate conductivityand magnetic high.	Untested
Ninety Nine Prospect - Anomaly B	Very strongly IP chargeable response (>50mv/V), moderate conductivity and magnetic high.	One drill hole didn't intersect IP target.
Ninety Nine Prospect - AnomalyC	Very strongly IP chargeable response (>50mv/V), moderate conductivityand magnetic high.	Untested
Kaos Prospect - Anomaly D	Shallow EM conductor, moderate IP chargeability (15-20 mV/V) and magnetic high.	Trench to northwest. Three CRA drill holes missed EM.
Kaos Prospect - Anomaly E	Strong IP chargeable response (40mV/V).	Untested

The Company looks forward to providing further updates as they become available.

ENDS

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TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its 100% owned gold and copper projects in Western Australia (regarded as the top jurisdiction in the world for mining investment). The Company’s objective is to create wealth for its shareholders through commercial exploration success.

TechGen holds a portfolio of sixteen exploration licences strategically located in three highly prospective geological regions of Western Australia; the Yilgarn Craton, Paterson Orogen and Ashburton Basin.

The Yilgarn Craton and Paterson Orogen are both proven world class gold and base metal provinces whilst the Ashburton Basin is considered highly prospective yet under explored and has the potential for major new gold and base metal discoveries. The spread of projects across these three geological regions provides the Company with geographical and operational diversification.

TechGen has an experienced board and management team, with a broad range of exploration, development, management, legal, finance, commercial and technical skills in the resource industry. The Company’s Managing Director and Technical Director are project vendors and substantial holders, driven to actively manage projects and deliver value to shareholders.

For more information, please visit our website: www.techgenmetals.com.au

Authorisation

For the purpose of Listing Rule 15.5, this announcement has been authorised for release by the Board of Directors of TechGen Metals Limited.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled and reviewed by Andrew Jones, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Andrew Jones is employed as a Director of TechGen Metals Limited. Andrew Jones has sufficient experience that is relevant to to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Andrew Jones consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.

Previously Reported Information

Any information in this announcement that references previous exploration results is extracted from the Company's Prospectus dated 17 February 2021 or from previous ASX Announcements made by the Company.

For further information, please contact:

Mr Ashley Hood Managing Director P: +61 6557 6606 E: admin@techgenmetals.com.au www.techgenmetals.com.au

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data
(Criteria in this section applyto all succeedingsections.)
Criteria	JORC Code explanation		Commentary
Sampling	•	Nature and quality of sampling (eg cut channels, random chips, or specific specialised	•	Ground EM was undertaken by Wireline Services Group.
techniques		industry standard measurement tools appropriate to the minerals under investigation,	•	Receiver was a SMARTem24 and with a EMIT Smartem Fluxgate / Jessy Deep Low
		such as down hole gamma sondes, or handheld XRF instruments, etc). These		Temp SQUID
		examples should not be taken as limiting the broad meaning of sampling.	•	Ten lines were surveyed by Moving Loop with a line spacing of 200m and station
	•	Include reference to measures taken to ensure sample representivity and the		spacings of 100m.
		appropriate calibration of any measurement tools or systems used.
	•	Aspects of the determination of mineralisation that are Material to the Public Report.
	•	In cases where ‘industry standard’ work has been done this would be relatively simple
		(eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was
		pulverised to produce a 30 g charge for fire assay’). In other cases more explanation
		may be required, such as where there is coarse gold that has inherent sampling
		problems. Unusual commodities or mineralisation types (eg submarine nodules) may
		warrant disclosure of detailed information.
Drilling	•	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger,	•	Not applicable as no drilling was undertaken or reported.
techniques		Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of
		diamond tails, face-sampling bit or other type, whether core is oriented and if so, by
		_what method, etc). _
Drill sample	•	Method of recording and assessing core and chip sample recoveries and results	•	Not applicable as no drilling was undertaken or reported.
recovery		assessed.
	•	Measures taken to maximise sample recovery and ensure representative nature of the
		samples.
	•	Whether a relationship exists between sample recovery and grade and whether sample
		bias may have occurred due topreferential loss/gain of fine/coarse material.
Logging	•	Whether core and chip samples have been geologically and geotechnically logged to a	•	Not applicable as no drilling was undertaken or reported.
		level of detail to support appropriate Mineral Resource estimation, mining studies and
		metallurgical studies.
	•	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc)
		photography.
	•	The total length andpercentage of the relevant intersections logged.
Sub-sampling	•	If core, whether cut or sawn and whether quarter, half or all core taken.	•	Receiver was a SMARTem24 and with a EMIT Smartem Fluxgate / Jessy Deep Low
techniques and	•	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or		Temp SQUID
sample		dry.	•	Ten lines were surveyed by Moving Loop with a line spacing of 200m and station
preparation	•	For all sample types, the nature, quality and appropriateness of the sample preparation		spacings of 100m.
		technique.
	•	Quality control procedures adopted for all sub-sampling stages to maximise
		representivity of samples.
	•	Measures taken to ensure that the sampling is representative of the in situ material
		collected, including for instance results for field duplicate/second-half sampling.
	•	Whether sample sizes are appropriate to thegrain size of the material being sampled.
Quality of assay	•	The nature, quality and appropriateness of the assaying and laboratory procedures	•	All work is industry standard.
data and		used and whether the technique is considered partial or total.
laboratory tests	•	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters
		used in determining the analysis including instrument make and model, reading times,

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		calibrations factors applied and their derivation, etc.
	•	Nature of quality control procedures adopted (eg standards, blanks, duplicates,
		external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias)
		andprecision have been established.
Verification of	•	The verification of significant intersections by either independent or alternative	•	Data was verified and checked by the operators at the end of each survey day.
sampling and		company personnel.
assaying	•	The use of twinned holes.
	•	Documentation of primary data, data entry procedures, data verification, data storage
		(physical and electronic) protocols.
	•	Discuss any adjustment to assay data.
Location of data	•	Accuracy and quality of surveys used to locate drill holes (collar and down-hole	•	A NovAtel's WAAS enable OEM4-G2-3151W GPS receiver was utilised for data
points		surveys), trenches, mine workings and other locations used in Mineral Resource		location.
		estimation.	•	Flight path was recorded as WGS 84 and converted to the UTM coordinate system
	•	Specification of the grid system used.		(MGA94 Zone 51)
	•	Quality and adequacy of topographic control.
Data spacing and	•	Data spacing for reporting of Exploration Results.	•	Ten lines were surveyed by Moving Loop with a line spacing of 200m and station
distribution	•	Whether the data spacing and distribution is sufficient to establish the degree of		spacings of 100m.
		geological and grade continuity appropriate for the Mineral Resource and Ore Reserve
		estimation procedure(s) and classifications applied.
	•	Whether sample compositing has been applied.
Orientation of	•	Whether the orientation of sampling achieves unbiased sampling of possible structures	•	The EM survey was done generally perpendicular to the major faults and geological
data in relation to		and the extent to which this is known, considering the deposit type.		orientation wherever possible.
geological	•	If the relationship between the drilling orientation and the orientation of key mineralised
structure		structures is considered to have introduced a sampling bias, this should be assessed
		and reported if material.
Sample security	•	The measures taken to ensure sample security.	•	Not applicable as no drilling or sampling data reported.
Audits or reviews	•	The results of any audits or reviews of sampling techniques and data.	•	No formal audit has been completed on the previous geophysical data being reported.

Section 2 Reporting of Exploration Results

Section 2 Reporting of Exploration Results	Section 2 Reporting of Exploration Results	Section 2 Reporting of Exploration Results
(Criteria listed in theprecedingsection also applyto this section.)
Criteria	JORC Code explanation		Commentary
Mineral tenement	•	Type, reference name/number, location and ownership including agreements or	TheHarbutt Range Projectcomprises two granted Exploration Licences, namely
and land tenure		material issues with third parties such as joint ventures, partnerships, overriding	E45/5294 and E45/5439. The licences cover an area of 376km2.
status	•	royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Project is subject to the Martu and Ngurrara native title determination (WCD2002/002) which incorporates several Indigenous Land Use Agreements (ILUA). Tenement E45/5294 overlies an area described as an “Other Heritage Place” titled Mt Cotton (reference number 6921). The Other Heritage Place covers less than 1% of the area of the tenement.
			Tenement E45/5439 overlies several registered aboriginal sites and one area described as
			an “Other Heritage Place”. The registered sites are; Curanell (reference number 6440)
			which covers less than 5% of the tenement, Teewalteewal (reference number 6441) which
			covers less than 5% of the tenement, and Harbutt Range (reference number 6704) which is
			a “Mythological, Birth Place, Hunting Place and Water Source” and covers the central
			portion of the tenement; and Winakarugina Cave (reference number 7100) which covers
			less than 1% of the tenement. The “Other Heritage Place is Bpindudpindu (reference 6457)
			which covers less than 5% of the most south western corner of the tenement.
Exploration done	•	Acknowledgment and appraisal of exploration by other parties.	From the 1980s to now, the general area has been explored for uranium, base metals,
by other parties			diamonds and gold. A number of exploration campaigns have been undertaken by a variety

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
			of companies, including CRA Exploration Ltd, PNC (Australia) Pty Limited, Stockdale
			Prospecting, Platinum Australia, Scimitar Resources Ltd and Rumble Resources Ltd.
			Exploration completed includes geological mapping, geochemical sampling, geophysical
			surveying and drilling.
Geology	•	Deposit type, geological setting and style of mineralisation.	The Harbutt Range Project lies within the Rudall Complex of the Proterozoic-aged Paterson
			Province. The regional geology consists of extensive late Tertiary to recent sand cover that
			largely obscures a basement of folded and metamorphosed Lower to Mid Proterozoic
			strata, which include schists, gneisses, iron formations, cherts, carbonate beds and basic
			volcanics.
			The project area is considered prospective for intrusive related copper-gold and sediment
			hosted base metal (copper-lead–zinc–silver) style mineralisation.
			Exploration has been primarily focused on base metal and gold mineralisation.
Drill hole	•	A summary of all information material to the understanding of the exploration results	•	Not applicable as no drilling was undertaken or reported.
Information		including a tabulation of the following information for all Material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill
		hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
	•	If the exclusion of this information is justified on the basis that the information is not
		Material and this exclusion does not detract from the understanding of the report, the
		Competent Person should clearly explain why this is the case.
Data aggregation	•	In reporting Exploration Results, weighting averaging techniques, maximum and/or	•	Only geophysics data is reported. There has been no data aggregation. Standard
methods		minimum grade truncations (eg cutting of high grades) and cut-off grades are usually		geophysical filters were applied to the data.
		Material and should be stated.
	•	Where aggregate intercepts incorporate short lengths of high grade results and longer
		lengths of low grade results, the procedure used for such aggregation should be stated
		and some typical examples of such aggregations should be shown in detail.
	•	The assumptions used for any reporting of metal equivalent values should be clearly
		stated.
Relationship	•	These relationships are particularly important in the reporting of Exploration Results.	•	Not applicable as no drilling or sampling has undertaken or reported.
between	•	If the geometry of the mineralisation with respect to the drill hole angle is known, its
mineralisation		nature should be reported.
widths and	•	If it is not known and only the down hole lengths are reported, there should be a clear
intercept lengths		statement to this effect (eg ‘down hole length, true width not known’).
Diagrams	•	Appropriate maps and sections (with scales) and tabulations of intercepts should be	•	Suitable maps and diagrams have been included in the body of the report.
		included for any significant discovery being reported These should include, but not be
		limited to aplan view of drill hole collar locations and appropriate sectional views.
Balanced	•	Where comprehensive reporting of all Exploration Results is not practicable,	•	All ground EM results have been included.
reporting		representative reporting of both low and high grades and/or widths should be practiced
		to avoid misleading reporting of Exploration Results.
Other substantive	•	Other exploration data, if meaningful and material, should be reported including (but not	•	All ground EM survey data reviewed has been discussed and no new exploration data
exploration data		limited to): geological observations; geophysical survey results; geochemical survey		is known.
		results; bulk samples – size and method of treatment; metallurgical test results; bulk
		density, groundwater, geotechnical and rock characteristics; potential deleterious or
		contaminating substances.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Further work	•	The nature and scale of planned further work (eg tests for lateral extensions or depth	•	Further work anticipated:
		extensions or large-scale step-out drilling).		Drill testing of targets.
	•	Diagrams clearly highlighting the areas of possible extensions, including the main
		geological interpretations and future drilling areas, provided this information is not
		commercially sensitive.