Twenty Seven : Drilling Campaign Completed at Rover Gold Project

ASX: TSC

ASX ANNOUNCEMENT

23 December 2021

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RC Drilling Campaign Completed at Rover Gold Project

HIGHLIGHTS:

• RC drilling campaign comprising 31 holes for a total of 2,161m now completed at Rover
• 574 samples will be submitted to the laboratory this week - results from these samples are expected to be returned Q1 2022
• Geology consisted mainly of mafic basalts, dolerites (with some potential ultramafics), granites and banded/silicified iron formations
• Hole 21RVRC022 intersected a 4m (62-66m DH) zone of massive sulphides (pyrite and pyrrhotite) within a 7m zone of disseminated sulphides
• Massive sulphide intersection indicates the potential for Rover to host VHMS targets, particularly given local/regional geology which includes Cobre Limited's Perrinvale project1 located ~30km to the south

Commenting on the Rover drilling program, CEO Simon Phillips said:

"We are pleased to have completed this drilling program at Rover ahead of the Christmas break, as it allows us to submit our samples to the laboratory this week for processing. We expect to receive first results in around 5-6 weeks' time and look forward not only to delineating further gold mineralisation but also to the results of assays for Hole 21RVRC022 given its encouraging intersection of a 4 metre-wide zone of massive sulphides. This program was focused on testing bedrock geochemical signatures identified from the most recent gold-in-soil sampling, with the aim of potentially extending known gold mineralisation at the Harmonic and Creasy 1 Prospects.

I would like to thank our drilling partners at Ausdrill, along with TSC's technical staff, for their effort and hard work to complete this program before Christmas. I look forward to providing further updates on exploration early in the New Year."

Twenty Seven Co. Limited (ASX: TSC) ("TSC" or "the Company") is pleased to announce the completion of the latest round of RC drilling at the Company's 100% owned Rover Gold Project in Western Australia's Goldfields (see Figure 2).

A total of 31 holes for 2,161m has been completed, with 574 samples to be submitted to the laboratory for multi element and gold analysis. First results are expected in early Q1 2022.

Twenty Seven Co. Limited | ABN 48 119 978 013 ASX: TSC Suite 17, 145 Stirling Hwy, Nedlands WA 6009 | 08 9385 6911

E: [e-mail] | W: www.twentysevenco.com.au

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Figure 1: Chip tray from hole 21RVRC022 showing the massive sulphide intersection

Figure 2: Rover Gold Project relative to greenstone belt and selected peer operations

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Summary of Rover Gold Project Drilling

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The program consisted of 31 RC holes for a total of 2,161m. Six (6) holes were designed to extend the Harmonic Prospect (Harmonic), a priority target, at depth and along strike, and the remaining 25 holes were designed to test the gold-in-soil anomalism identified in November 20202 at Middle Well, Four Corners and Blue Hills. Initial geological observations at Harmonic are in line with expectations, with mafics and quartzites having been intersected in all holes. Geology at the Middle Well, Four Corners and Blue Hills Prospects consisted mainly of mafic basalts/dolerites (with some potential ultramafics), granites and BIFS/SIFS.

Figure 3: Prospect map with 6 around Harmonic and 25 remaining holes at

Blue hills, Four corners and Middle Well.

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Figure 4: RC drill rig working on hole

Also of note in hole 21RVRC022 was an intersection of 4m (62-66m DH) of massive sulphides (pyrite and pyrrhotite) with minor chert which contained potential exhalative texture, as seen in Fgure 1. Intersection of massive sulphide is of significant base metal interest given that ASX-listed Cobre Limited's Perrinvale Project (~30km south of the Rover Project) has shown that massive pyrite can be associated with base metal prospectivity. If the massive sulphide assays return any base metal anomalism, then this may indicate that the geology within Rover is fertile with respect to base metals in the form of volcanic-hosted massive sulphides (VHMS) which would require follow up work.

Next Steps

TSC's planned operational activities for Q1 2022 include:

• Rover Gold Project, WA

1. Receipt of RC assays from Rover drilling and detailed review

• 1. Review of additional surface geochemical samples identified from WAMEX and incorporation of data into the Rover database in order to plan further infill geochemical samples if required
• Midas Project, NSW: Drill program implementation
• Perseus Project, NSW: Orientation surveys and soil sampling
• Yarbu Project, WA: Infill auger drilling program, potentially followed by later aircore drilling

Reference

1. ASX: CBE - New High-Grade Massive Sulphide Copper at Schwabe Prospect (20 July 2020)
2. ASX: TSC - Outstanding gold soil anomalies identified at Rover (12 January 2021)

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The Board of Twenty Seven Co. Limited authorised the release of this announcement to the ASX.

For further information please contact:

Simon Phillips	Rohan Dalziell
CEO	Non-executive Chairman
Phone: [phone]	Phone: [phone]
Mobile: + 61 411 883 450	Mobile: + 61 407 994 507
Email: [e-mail]

Competent Person's Statement

The information in this report relates to historical mineral exploration results and is based on work reviewed and compiled by Mr. Stephen F Pearson, a Competent Person and Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Pearson is a beneficiary of a trust which is a shareholder of TSC. Mr. Pearson is a Senior Geologistfor GEKO-Co Pty Ltd and contracted to the Company as Exploration Manager and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to theactivity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr.Pearson consents to the inclusion in this report of the information in the form and context in which itappears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Cautionary Statement - Historical exploration results reported in this announcement are based on data reported in historical reports rather than data thathas been produced by Twenty Seven Co. Limited; - Historical exploration results have not been reported in accordance with the JORC Code 2012; - A Competent Person has not done sufficient work to disclose the historical exploration work in accordance with JORC 2012; - It is possible that following further evaluation and/or exploration work that the confidence in the historical exploration results may be reduced when reported under JORC Code 2012; - Nothing has come to the attentionof the acquirer that causes it to question the accuracy or reliability of the former owners' historical exploration results, but - The acquirer has not independently validated the former owners' historicalexploration results and therefore is not to be regarded as reporting, adopting or endorsing those historical results.

About Twenty Seven Co. Limited

Twenty Seven Co. Limited (ASX: TSC) is an ASX-listed explorer. TSC's Australian assets comprise two tenure groupings detailed briefly as follows:

Western Australia Archaean Gold Assets:

• Mt Dimer Project: is made up of mining lease M77/515 and exploration license E77/2383. The project is highly prospective for Archean gold.
• Yarbu Project: This project is located on the Marda Greenstone belt ~ 80km to the northwest of the Mt Dimer Project. Yarbu consists of three exploration licenses (E77/2442, E77/2540 and E77/2539) which cover approximately 223sq km and are highly prospective for Archean gold deposits.
• Rover Project: TSC's 100% owned Rover project is located near Sandstone in a base metals and gold mineral rich area associated with Archean greenstone belts. Rover Project is a large 460sqkm tenure package covering two linear Archean greenstones, with a combined length of around 160km. Historically the area is underexplored and is currently undergoing a resurgence in exploration.

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