Trek Metals : Pilbara Battery Metals Exploration Advancing

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Pilbara Battery Metals Exploration Advancing on

Multiple Fronts

Drill planning well advanced for the new Hendeka Manganese Project, lithium soil

sampling programs underway at Tambourah, new base metal drill targets at Pincunah

Highlights

• Trek set for a major exploration push in the second half of 2022, with work programs gathering momentum at its manganese, lithium and base metal projects in the Pilbara.
• Drilling preparations well advanced for the new Hendeka Manganese Project, which will allow Trek to commence drilling as soon as possible subject to completion of the Scheme of Arrangement for the acquisition of Edge Minerals Limited.
• The initial focus of work will be to obtain metallurgical samples through diamond drilling as well as regional exploration targeting additions to the resource base via airborne geophysics.
• Soil sampling program currently underway at the Tambourah Project across areas with highly anomalous stream sediment samples and multiple lithium-bearing pegmatite dykes. The current phase of work will aim to define lithium drill targets.
• Heritage survey completed at the Jimblebar Nickel-Copper-Cobalt Project, paving the way for drill testing of strong off-hole conductors.
• New base metal drill targets identified at Pincunah, with a heritage survey scheduled for later this month to prepare for drilling and a surface geochemistry program completed recently.
• Surface samples from E45/4640 collected and submitted for analysis as part of the due diligence program for the current tenement acquisition from Pilbara Minerals Ltd.

Trek Metals Limited (ASX: TKM) ("Trek" or the "Company") is pleased to advise that exploration activities are continuing to gain momentum across its portfolio of battery metals projects in the Pilbara region of Western Australia. Current and planned activities in the next few months are expected to underpin a pivotal period of exploration activity in the second half of 2022.

Commenting on the exploration plans, Trek CEO Derek Marshall said:

"The Trek team has been busy across our high-quality Pilbara battery metals portfolio. We believe that the outlook for battery metals remains incredibly strong given the underlying decarbonisation and electrification trends, and we are continuing to position the Company for success as we step- up exploration and project development activities.

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

info@trekmetals.com.au

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"We are pushing ahead with the proposed acquisition of Edge Minerals Limited by Scheme of Arrangement and our planned exploration at the Hendeka Manganese Project, with airborne EM and drill contractors lined up to commence work later this year. We are also planning to collect metallurgical samples from diamond drilling to assess the potential to produce manganese sulphate for the Electric Vehicle market. Additionally, we will utilise VTEM as an exploration tool to generate exploration targets for additional accumulations of manganese to further expand our resource base and establish critical mass.

Figure 1: Planned VTEM survey at Hendeka covering known manganese mineralisation at Contact / Contact North Deposits and extending north across prospective geology towards the Western Front exploration area.

"The field team has recently relocated to Tambourah, where they are currently conducting a soil sampling program aimed at defining lithium targets for initial drilling. The historical work by FMG has highlighted strong potential for lithium-caesium-tantalum pegmatites and this potential, combined with the presence of multiple outcropping pegmatites and a tenement that has never had a hole in it, makes for an exciting exploration opportunity!

"At Pincunah, the recommendation from our geochemical consultant was to extract additional information from our current sample suite by running additional analytical techniques. Assays are currently pending from the re-assay of a selection of drill pulps and chips from two holes have been scanned using TerraSpec's Hi-Res Mineral Spectrometer.

"Additionally, we have assays pending from recent surface geochemical sampling on E45/4640, the tenement we are acquiring from Pilbara Minerals, which is located directly adjacent to the Valley of the Gossans VMS discovery and Conductor A. We look forward to updating the market once data has come in and interpretations made. We have a heritage survey due to commence in the coming weeks, paving the way for drill testing."

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Hendeka Manganese Project

The Company is actively advancing exploration plans for the Hendeka Project during the period of the acquisition of Edge Minerals Limited via a Scheme of Arrangement.

The Hendeka Project represents an exciting growth opportunity in a battery metal which has not yet received the same level of publicity and investor interest as lithium, nickel and cobalt. Demand for high-purity manganese is expected to grow strongly over the coming decade because of its strategic position as an increasingly desirable component of battery cathode production.

Manganese is significantly less expensive than alternative cathode materials such as cobalt and nickel, while also offering batteries with the potential for reduce charging time and enhanced safety performance.

A helicopter-borne geophysical survey is scheduled for Q4 2022 utilising Geotech Ltd.'s Versatile Time-Domain Electromagnetic (VTEM™ Max) system to investigate the mineral potential and potentially discover additional accumulations of high-grade manganese mineralisation similar to Contact/Contact North Deposits, which would enable Trek to increase the resource base at Hendeka and establish critical mass at the Project.

The VTEM™ Max survey design (Figure 1) will cover known mineralisation at the Contact and Contact North Deposits with 1,102 line-kms planned at 100m line spacing traversing approximately 109.3km2 including the Western Front prospect area where previous exploration returned encouraging intercepts, including:

• 6m @ 22.2% Mn from 43m, including 4m @ 26.9% Mn in Hole no. 021
• 10m @ 21.3% Mn from 43m, including 5m @ 25.0% Mn in Hole no. 019
• 14m @ 15.9% Mn from 51m, including 3m @ 22.0% Mn in Hole no. 010

(Refer Spitfire 2015 Annual Report: https://www.asx.com.au/asxpdf/20151027/pdf/432fc9td42vbjc.pdf)

Manganese mineralisation is known to be variably conductive and/or chargeable with airborne electromagnetics a proven technique in being able to directly detect massive manganese mineralisation. Additionally, the helicopter-borne survey will cover a large area in a short period of time, allowing for the definition of regional drill targets.

Plans are advancing for the upcoming metallurgical drilling planned for Q4 2022. Samples generated will be used to evaluate the potential to produce high-purity manganese sulphate for the electric vehicle (EV) battery cathode market.

The acquisition of Edge Minerals Limited (Hendeka Project) is subject to customary conditions including court and shareholder approval of Edge which are scheduled for early October 2022, with implementation to follow (refer ASX: TKM 6th June 2022 for additional information).

Tambourah Lithium Project

Historic exploration data highlighted the potential for lithium-bearing pegmatite mineralisation on both of Trek's Tambourah Project tenements (E45/5484 & E45/5839) in the Pilbara region of Western Australia (refer ASX: TKM 26th May 2022 for additional information).

Samples taken during Trek's first reconnaissance trip to evaluate the lithium potential have corroborated the lithium potential highlighted in the historical exploration results and confirmed the

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presence of multiple outcropping pegmatites in the area of stream sediment anomalism (Table 1 & Figure 2).

A soil sampling program is currently in progress (Figure 3) to define drill targets. The sampling is focused on the areas with anomalous lithium and other pathfinder elements such as caesium, rubidium and tantalum that were generated during historic exploration by Fortescue Metals Group (Figure 3 & refer ASX: TKM 26th May 2022 for additional information) on what is now Trek's tenure.

Figure 2: Rock chip results from Trek's initial lithium reconnaissance trip to Tambourah north confirm hard

rock lithium potential.

Table 1: Rock chip results from Trek's initial field trip confirm the lithium potential at Tambourah

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