Todd River Resources : Nerramyne SkyTEM Underway and Berkshire Valley Update

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ASX Announcement

14 March 2022

Airborne EM Survey Underway at Nerramyne and Broad Anomalous Zones of Copper and PGE's Confirmed in First Pass RC Drilling at Berkshire Valley

Key Points:

• Comprehensive Airborne Electromagnetic Survey (AEM) underway covering 188 square kilometres of interpreted mafic-ultramafic intrusions over the 100% owned Nerramyne Copper-PGE Project in the Murchison region of Western Australia;
• The Nerramyne Project consists of 492 square kilometres of granted exploration licences covering a 40 kilometre long low level copper and PGE soil geochemical anomaly adjacent to the margin of the Yilgarn Craton;
• At Berkshire Valley, Reverse Circulation (RC) drilling has intersected broad zones (up to 40m thick) of strongly anomalous copper and PGE (platinum + palladium) at the Mako Prospect;
• Anomalous zones remain open down dip in drilling where the base of the intrusive amphibolite unit has not been tested;
• Aircore drilling to be completed during April at the Havoc Prospect located at the northern end of the Berkshire Valley Project
• Further multi-element analytical results including those for platinum and palladium from remaining RC holes and reconnaissance aircore drilling completed in 2021 are still to be received.

Todd River Resources Limited (ASX: TRT) (Todd River or the Company) is pleased to announce the start of a broad, comprehensive Airborne Electromagnetic Survey (AEM) using SkyTEM at the 100% owned Nerramyne Project located approximately 130 kilometres north east of Geraldton in the Murchison region of Western Australia (Figure 1).

In addition, the Company has received initial analytical results from 5 RC holes drilled as part of the January RC drilling program at the Mako Prospect at the Berkshire Valley Ni-Cu-PGE Project in Western Australia (Figure 1).

ABN 45 600 308 398

4/24 Parkland Rd, Osborne Park WA 6017 | PO Box 1205 Osborne Park WA 6916 P [phone] | F [phone] | E [e-mail]

www.trrltd.com.au

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Figure 1 - Todd River Resources Project Location Plan

Nerramyne Cu-PGE Project

The recently commenced SkyTEM survey will cover approximately 188 square kilometres, encompassing four separate areas that contain prospective intrusions (Figure 2). The survey is designed to identify bedrock conductors down to a depth of approximately 300 metres which will then be followed up with either ground based detailed fixed loop EM or will be drill tested over the coming months.

Concurrent with the SkyTEM survey, a detailed surface geochemical sampling program will also be completed in areas that are amenable to such sampling.

The follow-up drilling will be based on the results of the SkyTEM geophysical and geochemical sampling and is subject to funding assistance from the state government of Western Australia through a successful application to the Exploration Incentive Scheme. Drilling is expected to be completed in late May or June 2022.

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Figure 2 - Nerramyne Project Showing the Location of the SkyTem Survey over Regional Magnetics

Background

The Nerramyne Project covers an 8-10 kilometre wide, 45 kilometre long position along the margin of the Yilgarn Craton where it is juxtaposed against the Narryer terrane (Figure 3). The Yilgarn and Narryer rocks are mapped predominantly as gneisses, with mafic rocks (hornblendite) in the south. The craton-boundingnorth-south Darling Fault transects the project area. A portion of the project area is covered by wind-blown sands and alluvial sediments which potentially mask any surface expression of mineralisation and render simple soil geochemistry unreliable.

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Limited previous exploration has concentrated entirely in the northern portion of the tenement, where a total of 5 soil sampling lines and 11 lag sampling lines were completed. More than half the soil samples collected were reported as being transported sand, suggesting that this shallow soil sampling completed was ineffective.

Figure 3 Location and Regional Geology of the Nerramyne Project

Regional regolith surface sampling by the Geological Survey of Western Australia (GSWA) on a 4 kilometre x 4 kilometre grid over the area has identified a broad low level copper-platinum-palladium anomaly that stretches over a 40 kilometre x 6 kilometre area (See ASX Announcement 13 July 2021). This style of regional sampling that has been widely utilised across the Nerramyne Project was also used extensively in the Fraser Range and identified an anomaly that led, in part, to the target generation and discovery of the Nova- Bollinger Ni-Cu orebodies by Sirius Resources in 2012.

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The best result for the GSWA sampling was from the north of the project area, coinciding with a large magnetic feature, containing 228 ppm Cu, 21 ppb Pd, and 8 ppb Pt. This compares to a background throughout the rest of the GSWA sampling area of 2-30 ppm Cu and mostly below detection for Pd and Pt.

Further adding to the geological credentials of the Nerramyne Project prospectivity, S2 Resources has recently announced the discovery of disseminated nickel and copper sulphides in their initial drilling program at the Woodrarung Prospect within their West Murchison Project which is adjacent to the northern boundary the Nerramyne Project (Figure 4). The style of intrusions seen at Nerramyne are similar in signature to those on S2R's project.

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