TECHGEN METALS LTD — Regulatory Filings 2022

Apr 28, 2022

(ASX: TG1) 29[th] April 2022

ASX ANNOUNCEMENT

STATION CREEK COPPER PROJECT IP CHARGEABILITY ANOMALIES IDENTIFIED

TechGen Metals Limited (ACN 624 721 035) (“TechGen” or the “Company”) is excited to provide an update on activities at the Company’s 100% owned Station Creek Copper Project located within the Proterozoic-aged Ashburton Basin of Western Australia. The Station Creek Project is located 70 km southwest of the town of Paraburdoo on Exploration Licence E08/2946 and is considered prospective for shear zone hosted base metal and gold deposits.

IMPRESSIVE STRATEGIC HIGHLIGHTS

• ➢ Gradient Array IP has identified priority chargeability anomalies (TA1 & TA2 Prospects).

• ➢ TA1 chargeability anomaly is approximately 500m x 100m in extent and is 150m from highgrade copper & silver rock chip samples (Peak 54.8% Cu & 249g/t Ag).

• ➢ High-grade copper rock chips along a NE striking fault are trending towards TA1.

• ➢ TA2 chargeability anomaly is at the same location as a previous 7.32% Cu rock chip.

• ➢ Dipole-Dipole IP surveying is continuing at TA1.

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TA1
TA2
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Figure 1: IP chargeability showing the TA1 & TA2 Prospects (white-red area) and interpreted faults.

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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TechGen’s Managing Director Mr Ashley Hood, “I am excited to advise and update the market on the Gradient Array Induced Polarisation (GAIP) and Dipole-Dipole Induced Polarisation (DDIP) geophysics surveys. The GAIP survey at Station Creek has successfully highlighted two areas of chargeability anomalism. One area, (TA1) is immediately along strike from recently reported exceptional high-grade copper and silver rock chip samples 54.8% Cu & 249g/t Ag (ASX announcement 30th March 2022). The second area, (TA2) is at the same location as a 7.32% Cu rock chip taken by the Company in 2020.

The area of high-grade copper, silver and elevated gold sampled by rock chipping is still open to the NE and SW along a recently identified interpreted off-set splay fault that possibly extends to the high chargeability area (TA1 Prospect). It is early-stage exploration, however an outstanding result to date and exactly what and where we were hoping to find a high IP chargeability response at our Station Creek Project.

Approximately 70% of the planned GAIP survey has been completed. This survey has now been halted while the survey teams undertake three north-south Dipole-Dipole IP (DDIP) traverse lines across the highest chargeability and high-grade rock chip areas at the TA1 Prospect. The DDIP traverses will provide 3D data to depth to assist with detailed modelling and drill targeting”.

ASX announcement 30[th] March 2022; The samples from the splay fault zone area have extended the known zone of copper mineralisation to 220 metres in length and the zone remains open to the NE and the SW. Stunning assay results were returned including 54.8%, 47.3%, 26.3%, 18.35% and 8.14% Cu. The samples also contained high-grade silver including 249g/t and 164g/t as well as anomalous gold and elevated antimony and arsenic.

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TA1
TA2
TA1
TA2
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Figure 2: TA1 anomaly top right, IP survey area & interpreted faults on airborne magnetics.

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 base metal 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 twenty-three exploration licences strategically located in four highly prospective geological regions of Western Australia: the Yilgarn Craton, Paterson Orogen, Ashburton Basin and Earaheedy Basin.

The Yilgarn Craton and Paterson Orogen are both proven world class gold and base metal provinces whilst the Ashburton and Earaheedy Basins are considered highly prospective yet under explored and have the potential for major new gold and base metal discoveries. The spread of projects across these 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: +61 427 268 999 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
(Criteriainthis sectionapply to allsucceeding sections.)
Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the 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.	• Previously reported rock chip samples were taken of malachite bearing rocks, quartz vein material and iron-rich rock units. • Sample weights ranged between 0.53kg to 1.17kg. • The rock chip samples were delivered to ALS Laboratories in Perth. • Samples were crushed and pulverised. • Samples were assayed by ICP-MS, ICP-AES and Fire Assay. • The laboratory used internal standards to ensure quality control. • Ground IP survey (Time domain Induced Polarisation / Resistivity). • Array: Gradient Array (GAIP). • Receiver: 1-2x GDD 16 channel IP receiver. • Transmitter: Vortex VIP-30 transmitter system rated at 1500V, 30A and 15KVA. • Station spacing: 100m. • Line spacing: 100m. • Line length: 1.8km. • Line direction: North - South. • Programme size: 50km.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, 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). _	• Not applicable as no drilling was undertaken or reported.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results 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 to preferential loss/gainof fine/coarse material.	• Not applicable as no drilling was undertaken or reported.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a 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 and percentage of the relevant intersections logged. _	• Chip samples had comments recorded in the field.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation 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 the grainsize of the material being sampled. _	• The rock chip sample weights ranged between 0.53kg to 1.17kg and these are considered appropriate. • The samples were taken from outcrop areas in the field.

Criteria	JORC Code explanation	Commentary
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, 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) and precision have been established.	The rock chip samples were delivered to Australian Laboratory Services Pty Ltd (ALS) in Perth where they were sorted, dried, crushed to 3mm particle size, cone split, and a portion pulverized. Multi-element analysis was determined by a four-acid digest on a 0.25g of sample, analysis was via ICP-MS and ICP-AES. HNO₃-HClO₄-HF acid digestion, HCl leach (ALS code ME- MS61). This analysis dissolves nearly all minerals in the majority of geological samples, paired with ICP-MS and ICP-AES analysis provide super-trace detection limits. The rare earth elements are not fully extracted in a four-acid digestion. Samples that returned Cu grades >10,000ppm were analysed by ALS “ore grade” method Cu-OG62 and Cu-OG62h, which is a 4-acid digestion, followed by AES measurement to 0.001% Cu. Samples that returned Ag grades >100ppm were analyses by ALS "ore grade" method Ag-OG62. Gold assay was determined by Fire Assay (ALS code Au-ICP21). • Ground IP survey (Time domain Induced Polarisation / Resistivity). • Array: Gradient Array (GAIP). • Receiver: 1-2x GDD 16 channel IP receiver. • Transmitter: Vortex VIP-30 transmitter system rated at 1500V, 30A and 15KVA. • Station spacing: 100m. • Line spacing: 100m. • Line length: 1.8km. • Line direction: North - South. • Programme size: 50km.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • 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. _	• The assay results were checked by separate Company personnel. • Sample number, GPS coordinates and description were recorded in the field into a notebook. • No adjustment has been made to assay data.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Sample coordinates were taken from a Garmin hand held GPS unit. • The grid system used was MGA94 Zone 50. • Topographic control is considered adequate. • IP locations were obtained using 12 Channel GPS receivers.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• Rock chip sampling is first pass reconnaissance sampling, spacing is variable and based on outcrop location and degree of exposure. • Sample spacing is deemed appropriate for identifying geochemical anomalies but could not be used to establish geological and grade continuity. • Data spacing is deemed insufficient to establish geological and grade continuity to establish a mineral resource estimate. • No sample compositing has been undertaken.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• The samples were taken from available outcrops. • No drilling was undertaken or reported. • IP lines in grid were oriented north-south at right angles to geology. Data was collected on north-south lines 100m apart with station spacings at 100m along 1.8km long lines.
Sample security	• The measures taken to ensure sample security.	• Samples were taken and delivered to ALS Laboratories by Company personnel. • IP data was collected by Vortex Geophysics.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No formal audit has been completed on the data being reported.

Section 2 Reporting of Exploration Results

(Criterialistedinthe	preceding sectionalso apply to this section.)
Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding 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.	TheStation Creek Projectcomprises a single granted Exploration Licence, namely E08/2946. The licence covers an area of 54km2. Blue Ribbon Mines Pty Ltd is the registered holder of E08/2946. TechGen has entered into a term sheet with Blue Ribbon Mines Pty Ltd to acquire a 100% interest in the tenement. The Project lies on the Ashburton Downs (PL N050036) Pastoral Lease and Unallocated Crown Land. The Station Creek Project overlies, in part, the Ashburton Downs Pastoral Lease (PL N050036). Tenement E08/2946 is subject to the Jurruru People Part A native title determination (WCD2015/002) which incorporates an Indigenous Land Use Agreement (ILUA).
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• The Ashburton Mineral Field has a long history of gold, copper, silver, lead and zinc exploration and is among the oldest in the state. In the 1970s and 1980s, majors like BHP, Newmont Corporation and BP Minerals began to explore the Ashburton Basin. This early exploration resulted in the initial identification of some significant deposits, namely Mt Clement and Mt Olympus.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Project areas are located within the Ashburton Basin which forms the northern part of the Capricorn Orogen.
Drill hole Information	• A summary of all information material to the understanding of the exploration results 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. _	• Not applicable as no drilling was undertaken or reported.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually 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. _	• There has been no data aggregation.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	• Not applicable as no drilling was undertaken or reported.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be _limited to a plan view of drill hole collar locations and appropriate sectional views. _	• Suitable maps and diagrams have been included in the body of the report.

Criteria	JORC Code explanation	Commentary
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced _to avoid misleading reporting of Exploration Results. _	• All results have been included.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or _contaminating substances. _	• All historic data has been previously discussed and no new exploration data is known.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Further work anticipated: Induced Polarisation (DDIP) survey underway and GAIP survey to be completed with geological mapping and drilling planned.