Todd River Resources : RC Drilling Recommences at Berkshire Valley

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ASX Announcement

7 January 2022

2022 RC Drilling Program Underway at the Berkshire

Valley Ni-Cu-PGE Project

Key Points:

• Reverse Circulation (RC) drilling program has re-commenced following the Christmas break to follow up previously announced sulphide occurrences and coincident Ni-Cu- PGE geochemical anomalies along the Eastern Trend;
• The Moving Loop Electromagnetic (MLTEM) survey that was postponed in December is due to commence in the week of January 10 and is designed to identify conductors at depth over the Eastern Trend and over a new area in the far north of the Project;
• Multi-elementanalytical results including those for platinum and palladium from the reconnaissance aircore drilling completed before Christmas are expected to be received late January.

Todd River Resources Limited (ASX: TRT) (Todd River or the Company) is pleased to announce that following the Christmas and New Year break, on-ground exploration has recommenced at its 100% owned Berkshire Valley Ni-Cu-PGEProject in Western Australia (Figure 1).

The work program which is a continuation of the December 2021 program will focus on deeper RC drilling of areas that intersected sulphides in shallow reconnaissance aircore drilling and/or where highly anomalous coincident Ni-Cu-PGE soil geochemistry has been identified.

Drilling of RC holes to approximately 150 metres will commence at the Mako Prospect where numerous shallow reconnaissance aircore holes encountered sulphides in end of hole fresh or in semi fresh rock (Figure 2, see ASX announcement 7 December 2021). Samples from the RC holes will initially be collected as 3 metre composites with individual 1 metre splits to be re-sampled where either handheld XRF readings show anomalism or where sulphides are present in the chips. Samples will be submitted for assay for a suite of elements, including base and precious metals.

Concurrently with the RC drilling, a MLTEM survey is due to commence in the week beginning January 10. Figure 3 shows the area that will be covered by the program which includes a large intrusion in the north of the project on E70/5385.

It is anticipated that the drilling program will take 3-4 weeks to complete which will tie in with the end of the MLTEM survey. Should any conductors be identified during the geophysics survey, additional holes will be completed or pre-collared prior to the rig leaving site.

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Analytical results from the shallow reconnaissance drilling completed before the Christmas break should start to be received in late January. These results will include the full suite of base and precious metals and as well as identifying any areas of anomalism or mineralisation the results will also provide further information on the broader geochemistry of the intrusions the Company is exploring. This information is critical for recognising the different phases of the intrusions and will assist with targeting for further exploration.

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

"It's exciting to be back on the ground so soon after the Christmas break. We extend our best wishes to all our Stakeholders and Shareholders for a happy, healthy and prosperous 2022.

"We are delighted to continue the drilling program at Berkshire Valley with the focus significantly shifting to deeper drilling following the successful reconnaissance program drilled late last year. To be able to progress quickly with the Moving Loop survey while the rig is on site gives us some flexibility with the work program and the ability to quickly take advantage of anything significant we identify.

"This is another exciting phase of exploration 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