Year 2 Relinquishment Report Exploration Licence EL 33382 Mt Doreen For the reporting period 15 June 2023 to 14 June 2025

Abstract

EL 33382 is located about 1150 km SE of Darwin and approximately 350 km northwest of Alice Springs. No work has been done on the relinquished ground for the duration it was held. Territory Minerals was unable to meet the minimum expenditure commitments on its Aileron Project tenements in 2024 due to delays in securing of necessary funding as the company underwent a change in overall strategy. In light of this, the company has made a significant rationalisation of its tenement portfolio, surrendering 763 blocks across its six NT licences and retaining only 301 blocks - approximately 28% of the original holding - reflecting a more sustainable level of commitment. 130 of 161 blocks have been relinquished from this tenement. The tenement has barely been explored based on historical reporting. Known prospects in the region suggest potential exists for the discovery of Lithium (local tin and tungsten mineralisation in pegmatites and Lithium prospects), REE mineralisation (nearby Nolans Bore discoveries and numerous uranium prospects) as well gold/basemetal prospectivity along significant NW and NE trending structures evident in magnetics - these trends can be seen regionally as well as within the tenement area. Ongoing historical review and target generation is proposed as well as on site reconnaissance, costean sampling for alluvial/eluvial gold. Drilling will be considered based on this work.