TREK METALS LIMITED — Capital/Financing Update 2023

Apr 16, 2023

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17 April 2023

Approvals Received for Maiden Lithium Drilling Program at Tambourah Project – Pilbara, WA

Preparations now underway for maiden drill program to test key pegmatite targets

Highlights

• Heritage survey completed recently over high-priority lithium-bearing pegmatites at the Eastern and Central Prospect areas[1] , Tambourah Lithium Project.

• All required permitting now complete, paving the way for Trek’s maiden drill program.

• Drilling on track to commence this quarter, with further details regarding drilling locations and key objectives to be provided in due course.

Trek Metals Limited (ASX: TKM) (“ Trek ” or the “ Company ”) is pleased to advise that it has secured all the required approvals to commence its maiden drilling program at the 100%-owned Tambourah Lithium Project in the Pilbara region of Western Australia.

A heritage survey was completed recently over key pegmatite targets, with approval also received from DMIRS, paving the way for drilling to commence to test the Central and Eastern Prospects, where surface grades of up to 3.07% Li2O were returned late last year in spodumene-bearing pegmatites[2] .

Trek CEO Derek Marshall said:

“We are delighted to have secured POW approval for our upcoming drill program, and the last box has now been ticked with completion of the recent heritage survey.

“This means we can now move ahead with preparations to start drill site earthworks, paving the way for the start of our maiden drill program to test the fertile pegmatite swarm identified last year, with significant high-grade spodumene confirmed in outcrop.

“The drilling planned for this quarter will provide a preliminary test of the grade, width and extent of the lithium mineralisation at both the Eastern and Central Prospects.”

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Tambourah Lithium Project

The Tambourah Lithium Project is located ~70km south-east of the world-class lithium mines at Pilgangoora (Pilbara Minerals) and Wodgina (Mineral Resources/Albemarle JV) in the Pilbara region of Western Australia (Figure 1).

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Figure 1: Location of the Tambourah Lithium Project ~70km SE of world class lithium mines Pilgangoora and Wodgina

Trek’s extensive landholding at Tambourah comprises two Exploration Licences (E45/5484 and E45/5839), which are 100%-owned by ACME Pilbara Pty Ltd, a wholly-owned subsidiary of Trek Metals Ltd.

The Project encompasses large areas of the Western Shaw Greenstone Belt, predominantly within the nose and eastern limb of an anticline folded around the Tambourah Dome. The greenstone rocks comprise Archean-aged metavolcanic, metasedimentary, and various granitoids with associated

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pegmatitic phases. Historic exploration data highlighted the potential for lithium-bearing pegmatite mineralisation on both of Trek’s tenements ( refer ASX: TKM 26[th] May 2022 for additional information ).

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Figure 2: High-priority lithium target areas defined by stream sediment analysis include known spodumene-bearing pegmatites in the north (on E45/5839 – the 2022 focus of exploration) but importantly also include several large anomalous areas in the south (on E45/5484 – which will be a focus of early-stage exploration during the 2023 field season).

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Both stream sediment (Figure 2) and rock chip data (Figures 3 & 4) indicate the presence of highly fractionated Lithium-Caesium-Tantalum (LCT) pegmatites with the potential for lithium mineralisation.

Recent rock chip data has confirmed the presence of high-grade spodumene lithium mineralisation with individual assays up to 3.07% Li2O ( refer ASX: TKM 7[th] November 2022 for additional information ).

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Figure 3: Rock chip classification shows that the majority of rocks within the Eastern Prospect area are LCT pegmatites (including the spodumene-bearing pegmatites discovered late 2022) and, encouragingly, the Central Prospect area is dominated by Fertile Pegmatites, interpreted to be proximal to lithium-bearing LCT pegmatites.

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Figure 4: Rock chip assay results in the Eastern Prospect area highlight multiple pegmatite dykes containing high-grade lithium. Note that TKL0042, 46 & 83 were included in a selected analytical program that confirmed the presence of spodumene ( refer ASX: TKM 27[th] October 2022 )

Authorised by the Board.

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ENDS

For further information contact:

ENDS For further information contact:
INVESTORS:		MEDIA:
Derek Marshall		Nicholas Read
dmarshall@trekmetals.com.au	info@trekmetals.com.au	0419 929 046

1 ASX: TKM 14 Feb 2023 Lithium discovery potential at Tambourah

2 ASX: TKM 7 Nov 2022 High-grade lithium assays of up to 3.07% Li2O at Tambourah

COMPETENT PERSONS STATEMENT

The exploration results in this announcement were reported by the Company in accordance with listing rule 5.7 on the 7[th ] of November 2022 & 14[th] of February 2023. The Company confirms it is not aware of any new information or data that materially affects the information included in the previous announcement.

DISCLAIMERS AND FORWARD-LOOKING STATEMENTS

This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", “target”, "anticipate", “forecast”, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions.

The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Trek and the industry in which it operates. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Trek is no guarantee of future performance.

None of Trek’s directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

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