Todd River Resources : Drilling and EM Underway at Berkshire Valley Amended

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ASX Announcement

15 November 2021

Eastern Trend aircore drilling and geophysics

underway at the Berkshire Valley Ni-Cu-PGE Project

Key Points:

• 8,000m Aircore and RC drilling program has commenced to follow up previously announced coincident Ni-Cu-PGE geochemical anomalies along the Eastern Trend
• Moving Loop Electromagnetic survey to commence late November; designed to identify conductors at depth over the Eastern Trend and over a new area in the far north of the Project

Todd River Resources Limited (ASX: TRT) (Todd River or the Company) is pleased to announce that following the completion of the first part of the 2021 grain harvest, on-ground exploration has recommenced at its 100% owned Berkshire Valley Ni-Cu-PGEProject in Western Australia (Figures 1).

The work program is designed to follow-up previously announced highly anomalous geochemical anomalies along the eastern trend of gabbroic and ultramafic intrusions (see ASX releaseGeochem Anomalies Confirmed and Expanded at Berkshire Valley, 2 August 2021). Phase one of this work program is expected to be completed around Christmas 2021 with follow up work anticipated in early 2022.

Drilling

The Company has commenced its initial aircore drilling program on the Eastern Trend at Berkshire Valley targeting previously announced anomalous geochemistry (Figure 2). The size and magnitude of the existing anomalies is significantly better than any anomalies previously identified at Berkshire Valley and as such, added flexibility has been built into the program by using a drilling rig which is capable of both aircore and reverse circulation (RC) drilling.

It is expected that the program will comprise approximately 500 holes and will take around 4-5 weeks to complete, however infill or additional RC holes may expand the program.

Samples will be collected as 3 metre composites and submitted to Intertek-Genalysis for assay for a suite of elements, including base and precious metals.

Moving Loop Electromagnetic Survey (MLTEM)

A detailed MLTEM survey is expected to commence around the end of November. The MLTEM survey is focused on identifying conductors at depth over the Eastern Trend, before moving to a new target zone at the far north of the project where a large magnetic feature, interpreted to be a gabbroic intrusion, will be surveyed. Figure 3 shows the areas to be targeted for MLTEM.

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Given the immediate nature of results from MLTEM, any infill required will be able to be completed at the end of the planned program and it is expected that any significant conductors identified will be able to be drilled before the rig demobilises from site.

Will Dix, Managing Director of Todd River Resources, commented:

"We are delighted to commence a significant drilling campaign at Berkshire Valley, located just 100km north of Chalice Mining's Julimar discovery. We are targeting previously announced outstanding geochemical anomalies along the Eastern Trend. In addition, we will imminently commence a Moving Loop Electromagnetic survey to identify conductors at depth over the Eastern Trend and at a highly prospective new area in the far north of the Project. This is an exciting time for the company; we are well funded to carry out our exploration activities and look forward to sharing the results with shareholders as soon as they are received."

Release authorised by the Board of Todd River Resources