Traka Resources Limited (ASX: TKL; Traka or the Company) is pleased to report outstanding new highgrade gold-copper results from the latest batch of assays received from drilling completed at the Plantagenet and Grafter Prospects on its 100%-owned Mt Cattlin Gold-Copper Project, located immediately adjacent to the Mt Cattlin lithium mine in the Ravensthorpe Greenstone Belt in the south-west of Western Australia.

The results continue to highlight the excellent potential of the Mt Cattlin Gold-Copper Project to host significant mineralisation across multiple areas, providing a strong foundation for ongoing exploration in 2022.

The Plantagenet Prospect

Five RC (Reverse Circulation) drill-holes were completed at Plantagenet to test under the historic mine workings. The mine workings are shallow (< 5 metres) and have most likely exploited supergene enriched gold mineralisation in the soft weathered rock. A coincident aeromagnetic plus soil geochemical anomaly overlies Plantagenet and these anomalies extend in a north-easterly trend over a distance of approximately 1 kilometre through the Ellendale and Revival Prospects.

The high-grade gold intersected at Plantagenet occurs as discrete zones within wide, strongly anomalous copper mineralisation hosted in porphyritic intrusives rocks and basalt.

The positive drill results received at Plantagenet, combined with those previously reported for the Ellendale prospect before Christmas, provides significant scope to delineate a mineralised trend over 1-kilometre in length with Plantagenet located at one end and the Revival Prospect at the other.

The Grafter Prospect

Five RC drill holes were completed on the Grafter Prospect. This drilling was the first ever undertaken near the surface workings and a coincident soil geochemical and aeromagnetic anomaly extending in north-east direction

Management Comment

Commenting on the results, Traka's Managing Director, Patrick Verbeek, said: 'This is a very exciting way to start the New Year, with our exploration at the Mt Cattlin Project now really starting to move up a gear. Building on the positive results reported from the Ellendale Prospect from just before Christmas, we now have some great new results from two key prospect areas. 'The standout assays come from Plantaganet, located at one end of a 1km long geochemical and structural anomaly which we now know hosts significant high-grade mineralisation. The bonanza grade gold zones occur within much broader and highly anomalous copper zones, indicating the potential of this trend to host spectacular gold-copper mineralisation.

'Together with the much wide intervals of strong copper-gold mineralisation reported from Ellendale just before Christmas, we now know that this corridor is shaping up as a priority focus for us in 2022. We are eagerly awaiting the results from Revival, located at the northern end. 'In the meantime, we have received very encouraging results from the Grafter prospect, providing further evidence of the widespread nature of intrusive-related gold-copper mineralisation at Mt Cattlin. 'We expect to receive the remaining assay results from the recent 5,000m drill program over the rest of January, and that will allow us to plan a significantly larger exploration effort in 2022 to unlock the full potential of this intriguing and highly prospective project.'

COMPLIANCE STATEMENT

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr P Verbeek who is the Managing Director of Traka Resources Limited. Mr Verbeek, who is a Competent Person and a Member of the Australasian Institute of Mining and Metallurgy, has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Verbeek consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Contact:

Tel: (+61) 8 9322 1655

Fax: (+61) 8 9322 9144

Email: traka@trakaresources.com.au

Web: www.trakaresources.com.au

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