TECHGEN METALS LTD — Capital/Financing Update 2021

Oct 19, 2021

ASX ANNOUNCEMENT

(ASX: TG1)

20[th] October 2021

SIGNIFICANT EXPANSION OF THE BLUE ROCK VALLEY COPPER PROJECT TO OVER 1,000KM[2]

INVESTMENT HIGHLIGHTS

• BLUE ROCK VALLEY COPPER PROJECT SUBSTANTIALLY EXPANDED WITH THE PEGGING OF NEW APPLICATIONS E08/3453 AND E08/3454

• THESE NEW APPLICATIONS ARE ALONG STRIKE FROM THE KNOWN EM ANOMALIES AND HISTORIC COPPER WORKINGS THAT COVER THE REGIONALLY SIGNIFICANT TALGA FAULT ZONE

• HIGHLY PROSPECTIVE ASHBURTON PROJECT AREAS NOW COVER 1,113 SQUARE KILOMETRES

TechGen Metals Limited (ACN 624 721 035) (“TechGen” or the “Company”) is pleased to provide an update on exploration activities including new applications at the Company's 100% owned Blue Rock Valley Copper Project located in the Ashburton Basin of Western Australia. The Company has recently made two new Exploration Licence Applications (E08/3453 & E08/3454) which are contiguous with the current project area and are along strike from known EM anomalies and the historical Blue Rock copper shafts which recently returned an impressive 49.9% Cu rock-chip sample (refer to ASX announcement 13[th] October 2021) and cover portions of the regionally significant Talga Fault Zone (a deep mantle tapping regionally significant fault zone; Figure 1).

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New
applications
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Figure 1: Expanded project area at the Blue Rock Valley Copper Project.

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The addition of these two new Exploration Licence Applications (E08/3453 & E08/3454) increases the Blue Rock Valley Copper Project area from 202 km[2] to 880 km[2] and increases the Company's Ashburton Basin holdings (Blue Rock Valley, Station Creek & Mt Boggola Projects) to a combined area of 1,113 km[2] .

TechGen’s Managing Director Mr Ashley Hood noted : “The significance of the Company’s >1000 km[2] strategic expansion in the highly prospective underexplored Ashburton region is an important investment opportunity not to be missed.”

“The new application areas include the primary Talga Fault Zone which runs through the middle of the Blue Rock Valley Project area. This fault is a regionally significant, deep, mantle tapping structure and is highly prospective for shear-zone hosted mineralisation.”

“TechGen’s ability to control circa 80km length of continuous strike along a primary fault known to carry mineralisation is a significant opportunity and places the Company amongst some of its top tier piers that also control belt -scale regions.”

“The new application areas were previously held by Western Mining Corporation in the mid 1990’s and have seen little to no modern exploration. Given the advancement in geoscience technologies, the Company’s expanded holding of the primary Talga Fault Zone contact between two geological boundaries ensures that our shareholders do not miss potential value creating opportunities especially during all time high copper and other base metal prices (largely driven on the back of the battery and electric vehicle revolution, not to mention the ever-increasing gap between supply verses demand).”

The Company looks forward to providing further updates across its 100% owned highly prospective coppergold project portfolio in Western Australia.

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 fifteen 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