Traka Resources : Quarterly Activities, App5B Cash Flow and Tenements

ASX/Media Announcement

29 April 2022

March 2022 Quarterly Activities Report

Drilling and soil geochemical results from the Mt Cattlin Gold-Copper Project highlight numerous wide zones of gold and copper mineralisation related to a large intrusive complex

Mt Cattlin Gold Copper Project, WA

• • All outstanding assay results for drilling completed in December have been received.

• • Revival Prospect:

  • o 4m @ 5.53g/t Au from 76m downhole including:

    • ▪ 1m @ 18.9g/t Au (RAGC094)

  • o 7m @ 5.91g/t Ag, 0.98% Cu from 86m downhole including:

    • ▪ 1m @ 8.96g/t Ag, 1.56% Cu and

    • ▪ 1m @ 14g/t Ag, 2.33% Cu (RAGC094)

  • o Revival is on a 1km long trend

• • Maori Prince and Maori Chief Prospects:

  • o 1m @ 7.14g/t Au from 100m downhole (RAGC067)

  • o 1m @ 5.34g/t Au from 47m downhole (RAGC068)

  • o 4m @ 1.03g/t Au from 25m downhole including:

    • ▪ 1m @ 2.41g/t Au (RAGC091)

• • Revelation Prospect:

  • o 1m @ 0.60g/t Au, 5.32g/t Ag, 0.60% Cu from 177m downhole (RAGC096)

• • Sirdar Prospect:

  • o 2m @ 2.59g/t Au from 168m downhole including:

    • ▪ 1m @ 4.61g/t Au (RAGC088)

  • o 0.5m @ 3.04g/t Au 156m downhole (RAGD090)

• • Geochemical footprint modelling has highlighted the position of three untested intrusive bodies within the core of the gold and copper mineralisation being drilled at Mt Cattlin. Infill sampling and re-modelling is underway to achieve better definition and constraints to the edges.

Corporate

A capital raising of $800k was completed during the quarter to fund continuing exploration at the Mt Cattlin Gold-Copper Project, as well as generation of new projects and working capital.

ASX: TKL

Ground Floor

ABN 63 103 323 173

43 Ventnor Avenue West Perth 6005 Western AustraliaTel: [phone] Fax: [phone]

Figure 1. Aeromagnetic image of the Mt Cattlin Gold-Copper Project showing key prospects. The image shows the north-east trending gold soil geochemical anomaly extending over 1km between Plantagenet-Ellendale-Revival.

Mt Cattlin Gold-Copper Project

The second drill program at the Mt Cattlin Gold-Copper Project was completed in December, with all outstanding assays received during the March Quarter. Assay data is now being reviewed to assist with planning of ongoing work programs.

The Revival Prospect:

At Revival, four RC (Reverse Circulation) drillholes tested a small area around shallow, prospector-scale workings on the northern end of a 1km-long coincident aeromagnetic and soil geochemical anomaly which includes the Ellendale and Plantagenet prospects (1) (Figure 1).

The RC holes intersected gold (Au), copper (Cu) and silver (Ag) mineralisation in a 50m wide zone within mafic intrusive and porphyry rocks (1). This geological setting is similar to that found at Ellendale and Plantagenet, with results also indicating that the mineralisation is more extensive than that reflected in historical soil geochemical surveys.

The peak drillhole intersection at Revival is summarised below and shown in Figures 2 and 3 with the full tabulation of results presented in Tables 1 and 2.

• • 4m @ 5.53g/t Au including 1m @ 18.90g/t Au

• • 7m @ 5.91g/t Ag and 0.98% Cu, and

• • 1m @ 14g/t Ag and 2.33% Cu from 93m down hole (RAGC094)

Figure 2. A plan view of the Revival Prospect showing historical and new drill hole locations on aeromagnetic image with geochemistry information draped over.

Figure 3. A cross-section of the mineralisation intersected at the Revival Prospect.

The Maori Prince and Maori Chief Prospects:

Additional drilling at the Maori Prince and Maori Chief Prospects tested for extensions of mineralisation from nearby drill holes (Figure 4). This area is characterised by numerous narrow lines of mineralisation in a 100m wide shear zone extending over 1km length. At Maori Queen, located several hundred metres to the north-east, a Mineral Resource of 31,908 tonnes @ 6.19g/t Au has previously been calculated on one of the mineralised structures within the shear down to about 70m depth(2).

The Maori Prince and Chief Prospects both offer opportunities for narrow, high-grade resources, similar to that defined at Maori Queen, with higher density drilling required to define a Mineral Resource. Both prospects remain open at depth, with this style of mineralisation often persisting to great depths.

Initial results are encouraging and are summarised below with full tabulation presented in Tables 1 and 2.

• • 1m @ 2.37g/t Au from 30m downhole (RAGC066)

• • 2m @ 1.50g/t Au from 152m downhole (RAGC066)

• • 1m @ 7.14g/t Au from 100m downhole (RAGC067)

• • 1m @ 5.34g/t Au from 47m downhole (RAGC068)

• • 4m @ 1.03g/t Au from 25m downhole including 1m @ 2.41g/t Au (RAGC091)

• • 3m @ 1.11g/t Au from 35m downhole including 1m @ 2.12g/t Au (RAGC091)

Figure 4. A resistivity image showing drillhole locations, anomalous gold soil geochemistry and peak drillhole intersections.

The Revelation Prospect:

At Revelation, one additional hole drilled into a previously-defined 400m-long mineralised intrusive returned a peak intersection of 1m @ 0.6g/t Au, 5.32g/t Ag and 0.60% Cu from 177m downhole (RAGC096) (1). This result confirms the mineralisation extends into the main body of the intrusive and north-east from the previous intersections associated with networked stringer sulphides and DHEM anomalies. A full tabulation of assay results is presented in Tables 1 and 2.

The large body of mineralisation associated with the coincident aeromagnetic and geochemical body is considered to be one of many intrusive bodies that form a large intrusive complex hosting mineralisation at Mt Cattlin. Ongoing assessment of the Revelation Prospect, along with the other targets, will continue towards vectoring and location of significant scale Resources (Figure 5).