TECHGEN METALS LTD — Regulatory Filings 2021

Jun 1, 2021

ASX ANNOUNCEMENT

(ASX: TG1)

2 June 2021

SOIL SAMPLING PROGRAM COMMENCED

AT IDA VALLEY GOLD PROJECT

HIGHLIGHTS

• Gold geochemistry commences in new mineralised greenstone belt

• +1,000 sample soil program targeting extensions to known gold anomalism

• New greenstone belt between the Lawler’s and Mt Ida Mining Districts

• Assays pending from recent RC drilling program completed on 12 May 2021

• Previous 2020 soil geochemistry sampling returned a peak of 884ppb gold

• New soils geochemistry steps out north and south of known soil gold anomalism

TechGen Metals Limited (ACN 624 721 035) (“ TechGen ” or the “ Company ”) is pleased to inform the market that a large soil sampling program has commenced at the Company's 100% owned Ida Valley Gold Project located 80km northwest of Leonora in the Yilgarn Craton of Western Australia (Image 1 & Figure 1). The Ida Valley Gold Project has up to 30km of prospective strike extent and consists of three Exploration Licences covering a combined area of 199km[2] . The project is ideally located in between the Lawler’s and Mount Ida Mining Districts.

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Image 1 : Photo showing landscape and the Ballard Fault at Ida Valley Gold Project.

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The current soil geochemistry program will consist of approximately 1,100 samples taken along east-west sample lines stepping out to the north and south of the central area where previous soil and rock chip sampling identified gold anomalism. Peak results from the project to date are 884 ppb Au in soils and 6.6 g/t Au in rock chips. The recently completed RC drilling program was undertaken as a first test of this area of soil and rock chip gold anomalism.

Less than 10% of this newly identified greenstone belt has been tested by soil geochemistry so far.

Results from the RC drilling program completed May 2021 (refer to ASX announcement 12[th ] May 2021) are awaited. Soil geochemical samples will be assayed for gold and a range of pathfinder elements that are associated with the current known gold mineralisation within the project.

TechGen’s Managing Director and Ida Valley Project vendor, Mr Ashley Hood commented: “The Project has continued to deliver encouraging geology at surface and backed up within the recently completed inaugural RC drilling campaign. Given the early encouragement we have taken the earliest opportunity to step out our soil geochemistry sampling coverage both to the north and south of the previous identified anomalies whilst we await RC drilling assay results. The soil geochemistry program will cover strike extensions of the Ballard Fault and other interpreted shear zones as well as test localised airborne magnetic targets.

The Company anticipates that the soil sampling program will take two weeks to complete with assay results to follow.

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Figure 1 : Map of the Ida Valley Gold Project with previous soil sampling and RC drilling and current soil sampling shown.

ENDS

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About TechGen Metals Limited

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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 twelve 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

The information in this announcement that references previous exploration results is extracted from the Company's Prospectus dated 17 February 2021.

For further information, please contact:

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