Euro Exploration Update - Drilling Commenced

ASX : TEM

2021-11-09 | Euro Drilling Commenced

TEM | Euro Exploration Update - Drilling Commenced

Key Points

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Diamond drill rig onsite and drilling commenced at the Euro Project Up to 2000m of diamond drilling to be completed in this program

Drilling will test extensions of known mineralisation nearby substantial historical results including:

• NR017: 17m @ 1.2g/t from 20m
• NR018: 15m @ 2.3 g/t (including 7m @ 3.4g/t) from 15m
• MBRB021A: 9m @ 1.2 (including 2m @11.4) from 0m (surface) Drilling will also improve geological understanding of this underexplored project area

useNews Item

Tempest Minerals Ltd (TEM) is pleased to announce that drilling has commenced at the Calais target which makes up part of the Company's Euro Project in the Yalgoo Region. The drilling will comprise up to 2000m of diamond drilling designed to test multiple targets and improve the geological model of the mineralised system where signifcant historical gold intercepts were previously recorded.

personalFor

Figure 1: Diamond drilling in progress at the Euro Project

Tempest Minerals Ltd │ ACN 612 008 358 Phone: [phone]

Address: Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA 6016

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ASX : TEM

2021-11-09 | Euro Drilling Commencement

Euro Project

Background

The Euro Project is 176 km2 of 100% owned tenements within the exciting onlyexploration portfolio in the Yalgoo region of Western Australia which totals more than 900 km2 (>604 km2 granted and 311 km2 of pending). The Euro Project is an underexplored geological terrain located between several in development or producing operations including: Karara (Iron), Shine (Iron),

Mt Mulgine (Gold/Tungsten) and Rothsay (Gold/Copper).

Parts of the project were explored in the 1990s and early 2000s for gold and iron ore. Reconnaissance drilling in the north of the project area encountered signifcant gold mineralisation. Due to depressed metal prices,

usethey were not considered priority and not followed up with targeted drilling.

Drilling Commencement

Earlier in November, Tempest advised that the Company had received

regulatory approval 1 to drill and had elected drilling contractor DDSR 2 to complete the Tempest maiden drilling program at the Euro Project.

The diamond drill rig has arrived on-site and drilling has commenced.

personalThis current program will consist of up to 2000m of diamond drilling and will test and extend areas of known mineralisation and test new drill targets. Detailed observations will provide improved geological

understanding of these zones, which can be used to further the project. For

Figure 3: Euro project planned drilling areas with legacy drilling and TEM planned drill areas

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ASX : TEM

2021-11-09 | Euro Drilling Commencement

Geology

The Euro Project comprises primarily ultramafc, mafc and felsic stratigraphy with banded iron-formations (BIF), which forms part of the southern Yalgoo Greenstone belt. Both the mafc/ultramafc sequences - onlywhich include Rothsay and Mount Mulgine pits e.g. Black dog - and the BIF at Karara 3 are known to host gold

throughout the region.

The stratigraphy has been disrupted by several generations of deformation as evidenced by macro scale folding seen in geophysics and aerial imagery. The major folding system appears northwest-southeast with remnants of a later phase of refolding striking north-south and east-west. Multiple generations of shearing are also present, including offsets of fold axial planes. At least two of the shearing events appear relevant to the presence of gold mineralisation at the nearby Rothsay Mine as well as the Euro Project.

The current drilling program is primarily targeting gold within quartz veins and surrounding altered rocks, useor associated with massive sulphides, 4 which outcrop as weathered gossanous stock and boxwork.

personalFor

Figure 4: Example of outcropping hydrothermal quartz sulphide breccia with well developed boxwork

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ASX : TEM

2021-11-09 | Euro Drilling Commencement

Calais Target Legacy Drilling

While most of the greater Euro Project remains relatively unexplored, the northern segment of the project had reconnaissance surface geochemistry and RAB and RC drilling activity in the 1990s and early 2000s by

only
	previous operators such as Normandy, Aztec, Gindalbie, Minjar, Karara and others. Some of these drill holes
	encountered signifcant gold mineralisation, but were not thoroughly tested for continuity due to challenging
	economic conditions.
	Approximately 400 holes have been drilled into the northern section of the Euro Project. A selection of results
	5 using a 0.5 gpt cutoff are listed below:
		HOLEID	THICKNESS			Au gpt		Depth
use		nr018	15	@		2.3	from	15
inc	nr018	6	@		3.7	from	20
	nr047	15	@		1.5	from	30
	MBRB089	16	@		1.4	from	28
inc	MBRB089	4	@		2.7	from	28
	MBRB019	8	@		2.7	from	12
	MBRB021	2	@		10.1	from	0
personal		nr069	15	@		1.3	from	10
	nr093	5	@		3.6	from	20
		nr017	15	@		1.1	from	20
		MBRB012	3	@		3.9	from	42
		nr046	13	@		0.9	from	20
	inc	nr046i	3	@		1.5	from	20
		MBRB021A	9	@		1.2	from	0
	inc	MBRB021A	2	@		11.4	from	0
		MBRB050	4	@		2.7	from	24
		MBRB173	8	@		1.2	from	36
		MBRB024	8	@		1.2	from	24
		MBRC002	8	@		0.8	from	12
	inc	MBRC002	2	@		2.0	from	12
		MBRB036	12	@		0.5	from	20
		MBRB039	4	@		1.3	from	26
For	inc	MBRB039	1	@		3.2	from	26
	MBRB040	4	@		1.2	from	12
	MBRB035	4	@		1.2	from	8
		NRRC001	5	@		0.9	from	0
		MBRB072	4	@		0.6	from	16
		nr148	1	@		1.6	from	22

Many of these results remain open in multiple directions and at depth, and Tempest considers these to have signifcant potential for further discovery.

Next Steps

• Drilling scheduled to continue with frst results due Q1 2022
• Laboratory results from recent feldwork due imminently
• Preparation for feldwork and drilling at the Meleya Project

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ASX : TEM

2021-11-09 | Euro Drilling Commencement

The Board of the Company has authorised the release of this announcement to the market.

About TEM

onlyTempest Minerals Ltd is an Australian based mineral exploration company with a diversifed portfolio of projects in Western Australia considered highly prospective for precious, base and energy metals.

The Company has an experienced board and management team with a history of exploration, operational and corporate success.

Tempest leverages the team's energy, technical and commercial acumen to execute the Company's mission - to maximize shareholder value through focussed, data-driven,risk-weighted exploration and development of our assets.

Contact

For more information, please contact:
Don Smith
Managing Director
use	Level 2, Suite 9	www.tempestminerals.com
	389 Oxford Street	LinkedIn
	Mt Hawthorn,
	Western Australia	Instagram
	6016
	Twitter
	[phone]	Facebook

personalForward-looking statements

This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company's control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement.

The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulflled. Tempest undertakes no obligation to update any forward-looking statement to refect events or circumstances after the date of this document (subject to securities exchange disclosure requirements).

The information in this document does not take into account the objectives, fnancial situation or particular needs Forof any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other

advice.

Competent Person Statement

The information in this announcement that relates to Exploration Results and general project comments is based on information compiled by Don Smith who is the Managing Director of Tempest Minerals Ltd. Don is a Member of AusIMM and AIG and has sufcient experience relevant to the style of mineralisation under consideration and to the activities undertaken to qualify as a Competent Person as defned in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Don consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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