Trek Metals : Compelling New VMS and Nickel-Copper Targets

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Compelling New VMS and Nickel-Copper Targets

Defined Ahead of 2022 Field Season

Field exploration activities to commence this month at Pincunah and Jimblebar with

diamond drilling to follow

Highlights

• Pincunah
• • High-gradesilver intersected at the Valley of the Gossans (VOG) VMS prospect, correlating with a modelled chargeability anomaly:
  • • 34m @ 99.8g/t Ag from 66m, inc. 10m @ 317g/t Ag from 73m, with 2m @ 1.39% Zn, 0.18% Cu & 691g/t Ag from 76m (VRC023)
  • Target zones for planned deep drilling defined by new geochemical and geophysical data
  • Electro-magnetic(EM) conductor identified by last year's airborne EM survey upgraded by surface geochemistry along strike from the VOG discovery
  • Field crew set to commence fieldwork shortly, initially targeting high-priority airborne EM conductive targets
• Jimblebar
• • Drill-readynickel-copper sulphide targets identified, with planning progressing towards drilling as soon as practicable
  • Highly conductive untested target at Millipede West modelled at >3,000S, interpreted as potential massive nickel-copper sulphide
  • Historical holes along strike at Millipede East intersected magmatic nickel- copper sulphide mineralisation
• Strong cash at bank with >$6M, capable and well-supported team ready to actively progress a multi-pronged exploration push in 2022

Trek CEO Derek Marshall said:

"The high-grade silver results returned from Valley of the Gossans show that the prospect is capable of hosting significant grades and thicknesses of precious metals in addition to base metals. The fact that the best result to date came from a hole that was drilled to test a

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 www.trekmetals.com.au

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chargeability anomaly and that the anomaly is modelled to continue at depth provides us with a clear high-priority deep drill target."

"Importantly, the results from our soil sampling extension program at VOG have also extended the observed mineral system and highlighted several additional early-stage targets. Conductor A, which was defined during the maiden airborne EM survey last year, is particularly encouraging as we now have evidence of coincident base metal anomalism. Arguably this yet to be drill tested target defined along strike from the VOG is more compelling as there was no conductive response at VOG, I can't wait to get our geologists on the ground to follow this one up.

"The geological similarities to the Sulphur Springs Project, located 25km to the east, which

is currently being developed by DEVELOP Global, are striking and show that we are in the right sort of environment to make a significant VMS-style precious & base metal discovery. The typical 'clustering effect' and extensive vertical extent which is commonly associated with VMS fields further supports the potential at VOG.

"Our field crew are preparing to commence surface geochemistry at Pincunah later this month and we are actively pursuing a drill rig to commence drilling as soon as we can.

"Meanwhile, re-modelling of historic down-hole EM at our Jimblebar Project has defined a high conductance untested off-hole electromagnetic conductor along strike from known nickel-copper sulphide mineralisation. This is a fantastic result for Trek and the current battery metal thematic makes these targets a high priority for drill testing. We are looking forward to drill testing of these untested highly conductive nickel-copper sulphide targets."

Trek Metals Limited (ASX: TKM) ("Trek" or the "Company") is pleased to advise that it has identified compelling new precious and base metal targets across its 100%-owned exploration portfolio in the Pilbara region of Western Australia.

Of note is the accumulating evidence of a large mineralised system at the Valley of the Gossans (VOG) volcanogenic massive sulphide (VMS) discovery at the Pincunah Project and a high-prioritynickel-copper sulphide target identified from a review of geophysics at the Jimblebar Project.

Valley of the Gossans (VOG)

Laboratory assay results from the three additional drill-holes completed late last year at VOG have returned significant high-grade silver results (Figure 1 & Tables 1 & 2).

Drill hole VRC023, which was drilled to test a chargeability anomaly defined in an Induced Polarisation (IP) survey (refer ASX: TKM 22nd April 2021 & Figure 1), returned the following significant intercept:

• 34m @ 99.8g/t Ag from 66m down-hole, including 10m @ 317g/t Ag from 73m

Additional results from these holes are provided in Table 1.

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Figure 1: Valley of the Gossans drill collar locations with selected Significant Intercepts, highlighting the

recent high grade silver intercept in VRC023, which was drilled to test the modelled IP chargeability anomaly.

Table 1 - Significant Drill Results

Given the extent of the surface geochemical anomaly and the encouraging results received from drilling to date, the prospect is a high priority for Trek. The Company is planning to undertake deeper diamond drilling during 2022 given the excellent correlation seen between the modelled chargeability anomalism and the observed mineralisation (Figure 2).

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Significantly, the chargeability anomaly is modelled to extend and broaden at depth, providing a high-priority deep drill target (Figure 2).

Figure 2: Drill-hole VRC023, drilled to test a chargeability anomaly, returned outstanding silver grades and

thicknesses. Significantly the chargeable response continues at depth, providing a clear drill target

Table 2 - RC Collar Locations from recent VOG drilling

New Target Identified at VOG

In late 2021, the Company decided to extend the surface geochemical coverage as an extensive >2km long multi-element geochemical anomaly defined by Trek earlier in the year was not closed off (refer ASX: TKM 16th February 2021). The recently returned assay results from Phase 2 soils have defined numerous additional target areas with anomalous base metal values (Figure 3).

The new surface geochemistry results significantly upgrade the prospectivity of airborne EM conductive target "A" (refer ASX: TKM 16th November 2021) as a compelling VMS target along strike from VOG discovery (Figure 3).

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