TECHGEN METALS LTD — Regulatory Filings 2022

Sep 14, 2022

ASX ANNOUNCEMENT

(ASX: TG1) 15[th] September 2022

TechGen Completes A$2M Placement

TechGen Metals Limited (ACN 624 721 035) (“ TechGen ” or the “ Company ”) is pleased to announce the successful completion of an A$2 million placement to advance and accelerate ongoing exploration activities across the Company’s projects in Western Australia and New South Wales.

HIGHLIGHTS

• Firm commitments have been received for a placement to raise A$2 million (before costs) at an issue price of $0.185 with strong support from institutional and sophisticated investors.

• Proceeds from the placement will primarily be used to advance and accelerate exploration activities at the Company’s Station Creek and Mt Boggola projects in WA and the John Bull Gold project in NSW.

• New exploration activities at the John Bull Gold project are being designed to build upon the successful discovery by testing along strike to the north and south and at depth. The Company recently announced results from its maiden RC hole, JBRC001, which returned an impressive intersection of 68m @ 1.0g/t Au from surface including 23m @ 2.02g/t Au with a peak grade of 13.8g/t Au. (ASX announcement dated 1 September 2022).

• RC drilling is currently underway at the Station Creek Project and due to commence shortly at the Mt Boggola Project where copper-silver-gold mineralisation is being targeted.

• An airborne VTEM survey is due to commence shortly in the southern part of the Mt Boggola Project.

• An airborne magnetic survey is scheduled to commence in October at the Narryer Project (nickelcopper-PGE) to cover the interpreted ultramafic – mafic intrusive complex.

• Geological reconnaissance and soil sampling is being planned for the Earaheedy Project where

Use of Funds

Proceeds from the placement will be used to advance and accelerate exploration across the Company’s project portfolio. Focus will be on the new discovery at the John Bull gold project in NSW where further work will be undertaken to assess the scale potential of the gold mineralisation.

Target testing and further target generation will continue at the Station Creek and Mt Boggola Projects, and will include the current RC drilling, airborne VTEM at Mt Boggola and geological mapping and sampling.

An airborne magnetics survey is due to commence in October at the Narryer Project (nickel-copperPGE) and will be the foundation for further soil sampling activities. Exploration activities, including geological reconnaissance and soil sampling, will commence at the Earaheedy Project (zinc – lead – silver) once planning is complete.

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ABN: 66 624 721 035 Registered Office: 683 Murray Street, West Perth 6005 T : +61 427 268 999 E: admin@techgenmetals.com.au W: techgenmetals.com.au Non-Exec Chair: Maja McGuire Managing Director: Ashley Hood Technical Director: Andrew Jones Non-Exec Director/ Chief Financial Officer and Company Secretary: Rick S Govender

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Funds will also ensure adequate working capital and enable the company to pursue further strategic growth opportunities.

TechGen’s Managing Director, Ashley Hood, commented: “We are pleased to announce the successful completion of a $2 million placement, which introduces several high-quality investors to our register. The support from our lead brokers, s708 investors and full Board exhibits the confidence we share in our ongoing exploration activities. This placement enables us to deliver ongoing positive exploration results such as the recent gold discovery at the John Bull Gold Project, joint venture with Rio Tinto Exploration and copper drilling in the Ashburton.

We would like to extend our sincere “welcome and thanks” to our supportive new and existing s708 shareholders for their trust and belief in the Company. We look forward to our dedicated continued growth through exploration success, as we continue with our exploration strategy focused on delivering further discoveries of economic resources for shareholder growth”.

Placement Details

A total of 10,810,811 Shares will be issued as part of the capital raising and will be issued at a price of $0.185 ( Placement Shares ).

7,214,218 Placement Shares will be issued under the Company’s existing ASX Listing Rule 7.1 placement capacity and 3,326,323 Placement Shares will be issued under ASX Listing Rule 7.1A. The remaining 270,270 Placement Shares, which are to be issued to directors Ashley Hood, Andrew Jones, Maja McGuire and Rick Govender (along with their related entities), will be subject to shareholder approval to be sought at an upcoming general meeting. The new Placement Shares issued will rank equally with the Company’s existing shares that are quoted on the ASX.

Viriathus Capital Pty Ltd and Vert Capital Pty Ltd acted as joint lead managers to the placement.

The key terms and an indicative timetable for the placement is outlined below.

Key Terms

• Total Raised: A$2 million

• Offer Price: $0.185 per Share

• Offer Discount:

• 5.1% Discount to last traded price ($0.195)

• 13.9% Discount to 15 Day VWAP ($0.206)

• Pre-Money Market Cap at Offer price: A$9,842,499

• Shares on Issue: 53,202,702

Director Participation

All directors have participated (subject to approval) in the capital raise. The Company will seek approval for this allocation at the upcoming general meeting.

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Indicative Timetable

Trading Halt Tuesday, 13 September 2022 Book Build Closes Wednesday, 14 September 2022 (2PM AEDT) Acceptances Due Wednesday, 14 September 2022 (6PM AEDT) DVP Trade Date Tuesday, 20 September 2022 Settlement Date Wednesday, 21 September 2022 Allotment Date Thursday, 22 September 2022

The timetable is indicative and may be subject to change at the Company’s discretion, subject to compliance with applicable laws at the ASX Listing Rules.

Previous ASX Announcements

• ASX; TG1: John Bull Gold Discovery Confirmed (12[th] September 2022).

• ASX; TG1: RIO Tinto Farm-in & Joint Venture (5[th] September 2022).

• ASX; TG1: Drilling Commences at Station Creek Copper project (2[nd] September 2022).

• ASX; TG1: Maiden RC Delivers Gold at John Bull (1[st] September 2022).

• ASX; TG1: Investor Presentation (20[th] July 2022).

ENDS

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TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its gold and base metal projects across Australia. TechGen holds a portfolio of twentythree exploration licences strategically located in five highly prospective geological regions in WA, and one in NSW.

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.

Previously Reported Information

Any information in this announcement that references previous exploration results is extracted from:

For further information, please contact:

Mr Ashley Hood Managing Director P: +61 427 268 999 E: admin@techgenmetals.com.au www.techgenmetals.com.au