Tectonic Gold Plc - Drilling Completion, New License and JV Update

20 April 2022

TECTONIC GOLD PLC

(“Tectonic Gold” or the “Company”)

DRILLING COMPLETION, NEW LICENSE AND JV UPDATE

Tectonic Gold plc (TDIM: TTAU) the Intrusive Related Gold System (“IRGS”) explorer, is pleased to announce the appointment of Ian Bruce as exploration manager to lead the completion of the Specimen Hill drilling program that was interrupted by severe regional flooding in the last quarter.

Taree Fields, a high-grade copper rich target has been added to the Specimen Hill Project (EPM28296) and is waiting on completion of native title procedures. 

Highlights:

1. Ian Bruce appointed as exploration manager appointed to lead / restart 2022/23 drilling campaign
2. Taree Fields – a historic high-grade copper mine on Specimen Hill structure added to Tectonic’s Australian portfolio
3. Deep Blue diamond JV has record sales of over US$236,000 in the recent December 21/ January 22 cycle auction
4. Tectonic partners appointed to Chairman and Non-Executive roles in Whale Head Minerals with mining license expected shortly

Further updates to come.

Queensland copper/gold campaign update.

Severe weather forced Tectonic to suspend drilling in December 2021 on a critical diamond drilling campaign testing below the historic Goldsmith’s Reef mine. Goldsmiths was a high grade mine abandoned due to the outbreak of World War 1 and not investigated again until Tectonic included it in the Specimen Hill exploration program. Historic mining was limited to approximately 30m depth, but geophysics testing by Tectonic shows extensive structural continuity below the old mine. The drilling program was designed to confirm extension of the gold mineralisation to 100m depth and beyond. This campaign will now be restarted under the leadership of Ian Bruce, an extremely experienced gold exploration geologist and specialist in this region of Queensland.

During on-site hosting which brought a number of prospective joint venture parties to the Specimen Hill project to conduct due diligence, one of  these prospective groups identified an area of interest along structure from Southern Copper. This was researched and identified as Taree Fields, an historic high-grade copper mine. Tectonic has secured this under a new permit (EPM28296) and will include it in the next field campaign for sampling.

Diamond and Mineral Sands Joint Ventures

Tectonic’s 10% non-diluting interest in Deep Blue Minerals is showing progress, with Kazera reporting proceeds of over US$236,000 in sales from the last auction, a record for the venture.

Tectonic has a similar non-diluting 10% interest in Whale Head Minerals which is the Heavy Mineral Sands venture on the same site. In addition, Tectonic has sold a 30% interest to a Black Economic Empowerment (BEE) consortium, taking the total economic interest to 40%.

We are pleased to advise that Kazera has appointed Tectonic’s two leading empowerment partners, Dr Gil Mahlati and Dr Dempsey Naidoo as Chairman and Non-executive Director respectively of Whale Head Minerals. These two highly credentialed South African business leaders have a strong desire to see economic upliftment in the extremely disadvantaged region around the projects. We are fortunate to have them lend their expertise and network to driving the success of our venture and welcome their appointments.

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“We are all looking forward to getting boots back onto the ground and you can expect the entire executive team to be spending time up at Specimen Hill as soon as the mud is dry. It has been a long hiatus, but we have used the time to pick up an exciting licence extension with Taree Fields. This rounds out the package for a potential joint venture partner nicely making Specimen Hill a significant intrusive copper/gold system discovery.

We are also encouraged by the progress being made in South Africa on diamonds and mineral sands. This has great potential and with the support from very high profile mining, engineering and private equity personalities in Gil and Dempsey we are confident Deep Blue and Whale Head will bring some great news flow for shareholders.”

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