TREK METALS LIMITED — Capital/Financing Update 2021

Nov 28, 2021

29[th] NOVEMBER 2021

ASX/MEDIA RELEASE

TREK COMPLETES SHARE PURCHASE PLAN

$2.049m raised to underpin ongoing Pilbara exploration activities

Trek Metals Limited ( ASX: TKM, Trek or the Company ) is pleased to advise that the Share Purchase Plan (“ SPP” ) announced on 20 October 2021 has closed with applications received from eligible shareholders for a total of $2.049 million under the plan.

The SPP was conducted in addition to the Company’s recent $3.5 million placement to fast-track the next phase of exploration across its highly prospective Pilbara portfolio, including the emerging VMS discovery at the Valley of the Gossans.

Under the SPP, the Company offered eligible shareholders the opportunity to subscribe for up to $30,000 worth of shares at an issue price of $0.115 per share. The Company received valid applications for 17,821,676 ordinary shares for total proceeds of $2.049 million.

Trek Metals Chief Executive Officer, Mr Derek Marshall, said the excellent shareholder response to the SPP reflected growing market recognition of the potential of Trek’s Pilbara exploration portfolio.

“The completion of this highly successful capital raising, with total proceeds of $5.54 million, puts Trek in a very strong position to accelerate our exploration programs and unlock the full potential of our exciting Pilbara portfolio. I would like to take this opportunity to thank our shareholders for the strong level of support they have shown for our strategy, with applications received in excess of the targeted amount as part of the SPP.

“We have recently completed a highly successful helicopter EM program which identified multiple high-priority base metal targets. Pending assays from the recently completed drilling and soil sampling, together with results from the upcoming down-hole EM at Valley of Gossans, will add confidence to target generation for deeper drilling.”

Approved for release by John Young – Executive Director. ENDS

For further information contact:

INVESTORS: MEDIA:	INVESTORS: MEDIA:	INVESTORS: MEDIA:
John Young Derek Marshall Nicholas Read john@trekmetals.com.au dmarshall@trekmetals.com.au 0419 929 046
REGISTERED OFFICES – TREK METALS LIMITED ARBN 124 462 826
Australia 130 Stirling Highway North Fremantle WA 6159	Bermuda Vallis Building, 4th Floor 58 Par-la-Ville Road Hamilton HM 11	Postal Address Locked Bag 4 NORTH FREMANTLE WA 6159

Trek Metals Limited | ARBN 124 462 826 130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel +61 (0)8 6215 0371 | info@trekmetals.com.au www.trekmetals.com.au