Recharge Metals : FURTHER COPPER MINERALISATION CONFIRMED FROM RC DRILLING

ASX ANNOUNCEMENT

13 April 2022

Further Copper Mineralisation Confirmed from

RC Drilling at Brandy Hill South

Key Highlights

• • Results received for three RC holes completed in December 2021

• • Multiple zones of copper mineralisation intersected, significant results include:

  • • BHRC009

    • o 3m @ 0.37% Cu from 74m

    • o 10m @ 0.29% Cu from 104m

  • • BHRC010

    • o 23m @ 0.55% Cu from 48m, including: 1m @ 1.04% Cu from 54m, & 4m @ 1.46% Cu from 62m

    • o 4m @ 0.31% Cu from 164m

    • o 6m @ 0.34% Cu from 184m

    • o 3m @ 0.35% Cu from 199m

  • • BHRC011

    • o 4m @ 0.25% Cu from 44m in BHRC011

• • Assay results still pending for 13 RC holes (BHRC014-BHRC027)

• • Mineralisation remains open along strike and at depth

• • Diamond tail drilling of BHRCD018 to resume shortly

Recharge Metals Limited (ASX: REC, Recharge or the Company) is pleased to announce that encouraging results have been received from a further three of the Reverse Circulation (RC) drillholes compAlSeXte:RdEaCtt|hLeevBelra11n, dLoynHdoinllHSoousuet,h21P6 rSot jGeecotrginesDTercraecem, ber 2021. The Project is located within the Archaean

Gullewa Greenstone Belt within the Murchison Province, Yilgarn Craton.

Perth WA 6005 |[e-mail]| Page 1 of

12

WWW.RECHARGEMETALS.COM.AU

RC Drilling Program

Recharge completed its maiden four (4) hole RC drilling program during November 2021, prior to resuming the drilling in December with a larger capacity drill rig. RC drilling concluded in January 2022, with a total of twenty (20) holes completed for 3,374 metres. Subsequently, Recharge recently commenced a diamond tail drilling program, by deepening 3 of the RC holes, which has been temporarily suspended due to recent heavy rains impeding access to the area.

Results from four (4) drillholes (BHRC006 to BHRC008, and BHRC020) were announced to the market on 8 February 2022, with this release detailing the recently received results of a further three (3) RC drillholes (BHRC009 to BHRC011). All three of these drillholes intersected significant mineralisation, including:

• • BHRC009

  • o 10m @ 0.29% Cu from 104m

• • BHRC010

  • o 23m @ 0.55% Cu from 48m, including 1m @ 1.04% Cu from 54m, & 4m @ 1.46% Cu from 62m

  • o 6m @ 0.34% Cu from 184m

  • o 3m @ 0.35% Cu from 199m

• • BHRC011

  • o 4m @ 0.25% Cu from 44m

Refer to Table 1 for details of all significant intercepts.

Significant results returned from the first four holes (refer ASX:REC announcement "Wide, Significant Copper Intersections returned at Brandy Hill South" dated 8 February 2022) included:

• • BHRC006

  • o 12m @ 1.20% Cu, from 74m, including 4m @ 2.87% Cu from 74m, & 1m @ 5.92% Cu, from 147m

• • BHRC007

  • o 32m @ 0.49% Cu, from 65m

• • BHRC008

  • o 10m @ 0.71% Cu, from 69m

• • BHRC020

  • o 16m @ 0.41% Cu, from 78m, including 1m @ 1.46% Cu from 87m.

Assay results are pending for the remaining 13 RC holes (BHRC012-019 and BHRC021-025), completed during January 2022. Recharge will continue to update the market as results are received.

Level 11, London House, 216 St Georges Terrace, Perth WA 6005 |[e-mail]

ASX: REC | WWW.RECHARGEMETALS.COM.AU | Page 2 of 12

Figure 1: Schematic cross section of Brandy Hill South Project (6805300N)

Recharge Managing Director Brett Wallace commented:

"We are very pleased to report further intersections of copper mineralisation in three RC holes completed in late December 2021. The results further validate the Company's view of the mineralisation fertility of the host rocks.

We eagerly await the receipt of assay results for the remaining 13 RC holes completed in January 2022 and the recent diamond tail completed in March 2022.

We look forward to completing the remaining two diamond tail holes and the downhole EM (DHEM) survey, which is anticipated to give a greater insight and understanding of the mineralisation and assist with planning future drill programs"

Table 1: Significant Drill Intercepts (+2,500 ppm Cu)

Drill Hole ID	East1	North1	RL2	Dip	Azim (mag)	Depth
(m)	(m)	(m)	(m)
BHRC006	444201	6805514	280	-60	90	150
BHRC007	444172	6805508	280	-60	90	146
BHRC008	444220	6805320	280	-60	90	154
BHRC009	444153	6805325	280	-60	90	163
BHRC010	444144	6805310	279	-60	90	210
BHRC011	444099	6805305	275	-60	90	210
BHRC012	444177	6805251	277	-60	90	166
BHRC013	444175	6805410	279	-60	90	180
BHRC014	444171	6805410	278	-60	90	210
BHRC015	444094	6805411	276	-60	90	210
BHRC016	444139	6805249	277	-60	90	210
BHRC017	444097	6805249	275	-60	90	230
BHRC018	444068	6805244	278	-60	90	96
BHRC019	444057	6805307	277	-60	90	90
BHRC020	444132	6805732	264	-60	90	160
BHRC021	444630	6804600	280	-60	90	137
BHRC022	444135	6805502	276	-60	90	209
BHRC023	444104	6805507	271	-60	90	84
BHRC024	444039	6805700	277	-60	90	179
BHRC025	444460	6805600	280	-60	90	180

Hole ID	From	To	Width	Cu %
BHRC009	68 74 104 118 148 151	69 77 114 119 149 152	2 3 10 1 1 1	0.28 0.37 0.29 0.25 0.28 0.28
BHRC010 including including	48 54 62 81 164 178 184 199	72 55 66 83 168 179 190 202	23 1 4 2 4 1 6 3	0.55 1.04 1.46 0.69 0.31 0.33 0.34 0.35
BHRC011	44 118 146	48 120 147	4 2 1	0.25 0.30 0.30

Table 2: Drillhole collar details for Dec 2021-Feb 2022 Reverse Circulation drilling program - Brandy Hill South

• 1 Easting and Northing Coordinate System = UTM GDA94 Zone 50

• 2 Reduced Level (RL) is referenced to Australia Height Datum (AHD)

Figure 1: Brandy Hill South Plan showing existing and proposed drilling and DHEM survey, modelled FLEM conductor plates, overlying TMI magnetics image