Announcement PDF ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths TEM | Meleya Update - Geochem anomaly extended with Nickel and Rare Earths Key Points ● ● ● 2 kilometre Rare Earth Element (REE) anomaly identified at Outlaw Target Results of up to 929 ppm cerium (Ce)and 457 ppm lanthanum (La) in soil assays Further work for target exploration in progress Summary Tempest Minerals Ltd (TEM) is pleased to update the market regarding geochemistry results recently received from surface sampling work undertaken across an eastern portion of the Meleya Project in Q4 2022 which form a 2 kilometre strike Rare Earth Element (REE) anomaly. Results to date form a coherent Ce-La zone with values of up to 929 ppm Ce and 457 ppm La having been recorded. This Ce-La zonation appears to increase in strength at the boundary of the sampling area. This rare earth anomaly adjoins the recently announced copper zinc ‘Remorse’ anomaly. With very little or no prior exploration in the area - this once again highlights the impressive potential for multiple precious, base and critical metal mineralisation systems within the Tempest portfolio. TEM is planning and implementing further programs to further progress these exciting targets. Figure 1: Remorse (base metal) and Outlaw (Nickel Rare Earth) anomalies Tempest Minerals Ltd │ ACN 612 008 358 Phone: +61 8 9200 0435 Address: Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA 6016 Page 1 | 12 ASX : TEM 3 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths Meleya Project Background The Meleya Project represents a previously unrecognised extension of the Yalgoo Greenstone belt identified 1 through the innovative use of data analysis . The project is part of the Company’s flagship 100% Yalgoo regional holdings. In 2021, TEM identified further easterly extensions to the belt 2 and in March 2023, TEM expanded this to further consolidate the Company’s dominant position comprising more than 1,000km2 of 3 high potential exploration ground . TEM has for some time considered the multitude of target zones at Meleya to represent some of the most exciting greenfields base and precious metal upside exploration opportunities in the industry today. This view was strongly supported in 2022 by the discovery of multiple mineralisation occurrences 4, 5 within a regional geological context that hosts numerous world class gold, base metal and iron ore deposits. In late 2022, in parallel with multiple drilling programs 6, 7 TEM commenced the first ever systematic exploration in the eastern portion of the Meleya Project with a regional mapping and surface geochemistry sampling program. 8 TEM recently announced highly anomalous and coherent base metal anomalism at the Remorse Target . Regional Geology The geology of this area was initially interpreted as a discontinuous geological sequence within the Yalgoo Regional geology. However, more recent scrutiny of geophysics and other data sets including surrounding areas indicates that the Yalgoo Greenstone belt and the south-eastern extension of the Warriedar Fold Belt that passes through this region of the Meleya Project are comparable to those hosting major regional deposits. Initial exploration shows high magnetism, banded stratigraphy, and numerous large-scale cross-cutting 9 structures; potential ‘feeders’ for mineralisation styles such as Volcanogenic Massive Sulphides (VMS) , Intrusion Related Gold (IRG) deposits, Iron and Tungsten Skarn (Skarn) and Lode Hosted / Orogenic vein style gold. One such zone spans over 10 km across the southeastern part of the project with the highly anomalous zone spanning 4 km along a contorted part of the sequence. In addition to the structural openings and visible surface fluid alteration, the stratigraphy has been offset by over 300m of displacement interpreted to have been caused by large-scale regional structures. Recent soil program results demonstrate potential 4km striking geochemistry correlated with a VMS system (Gossan Hill - Golden Grove style) including soil samples reaching 635 ppm Cu + 96 ppm Zn + ~14 ppm Pb and 280 ppm Cu + 182 ppm Zn + 24 ppm Pb). Initial geochemical analysis suggests this stratigraphic style anomaly has a similar geochemical fingerprint to a VMS mineral assemblage, including the nearby Gossan Hill Deposit / Golden Grove 10 deposits. Large scale structures extending from the Remorse Target ridgeline border the Outlaw anomalism. Several of the structures that intersect the cluster of anomalies in similar orientation to large regional structures which converge in the general vicinity of the Remorse/Outlaw target. The structures may have acted as a pathway for mineralisation - including the Outlaw REE dispersion - across greenstone-granite contacts, however further work must be conducted to understand the full extent of the mineral system. Page 2 | 12 ASX : TEM 3 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths Meleya East Sampling The target area was an easterly portion of the Meleya Project surrounding the Ktulu target. The area is known to host several historical gold workings at the Pinyalling Mining Centre (8 km SSW of the tenement area) where 958 ounces of gold was produced between 1902 - 1939 11 and later the Baron Rothschild project (pyrite and pyrrhotite-associated gold-hosted BIF) explored by Thundelarra Exploration during the late 1990’s 12 . The purpose of the campaign was to generate data relating to the area's geochemistry and geology. During Q4 2022 an initial broad 45km2, 200m x 200m spaced soil sampling and mapping campaign of over 1,000 samples was incrementally completed for the purpose of ground-truthing and developing a broad preliminary understanding of the region's geochemistry and stratigraphy. Figure 2: Overview of sampling completed Much of the sampling area has soil cover with occasional low lying, exposed granite bedrock and hilled regions characterised by isoclinal folds, and steep N-W plunging outcrops. All samples were assayed with Ultrafine+ 13 , a method of analysis used to detect low levels of Au and multi-elements within soil samples. Highlights include: ● ● ● ● 0.15% REO ( 929 ppm Ce + 457 ppm La + 82 ppm Y), and 0.12% REO (799 ppm Ce + 321 ppm La + 46 ppm Y) outcrop rock sample with 0.9% Ni + 0.15% Cr soil samples up to 0.5% Ni + 0.14% Cr This geochemical work encompasses a number of existing prospects interpreted from geophysics and satellite data by TEM - including the Outlaw Target. Page 3 | 12 ASX : TEM 3 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths Outlaw Target The Meleya Project area has a multitude of prospective targets including the ‘Outlaw Target’, which is a magnetic anomaly associated with North-South structures cross cutting the recently identified Remorse Target anomaly. Outlaw’s elevated Light Rare Earth Element (LREE) geochemical signature (approximately 50 samples define the anomaly to date) appears to occur within structure zones visible within geophysical and remote sensing datasets. These flanking structures are interpreted to converge at the south western extent of the Remorse anomaly, and have a similar orientation to the large scale structure which offsets the Remorse geology and may represent a feeder system. Values of up to 105 ppm Th, 67 ppm Li and 91 ppm Pb are also reflected in the assays with a dispersion pattern that aligns with the LREE’s. These geochemical anomalies spread over at least 2 km, increase in concentration away from the VMS prospect and are predicted to continue beyond the edge of the sample grid. Extensive follow-up is required to develop a clear understanding of this anomaly. Given its structural orientation, the Remorse anomaly has been interpreted as the footwall with the LREE elevated porphyritic granite as the hanging wall. The faults may have acted as a pathway for LREE dispersion away from the Remorse VMS target and across the greenstone-granite contact, however further work must be conducted to understand the full extent of the mineral system. Beholder Target A small cluster of anomalous nickel rich geology lies between the Remorse and Outlaw targets. It has been interpreted as a stratiform nickel enrichment. This may be sourced from a possible (to date undetected) intrusion - assays suggest an intermediate source rock with an average of 1.3% MgO (Magnesium Oxide) and 8.8% FeO (Iron Oxide). Alternatively this may be further geochemical ‘layering’ as part of a larger mineralised system which includes the Remorse and Outlaw Targets and is being fed by major regional structures. Sampling highlights include: ● ● outcrop rock sample with 0.9% Ni + 0.15% Cr soil samples up to 0.5% Ni + 0.14% Cr Extensive follow-up is required to develop a clear understanding of this feature. Next Steps - Furthers remaining assays pending Further sampling in new tenement areas to be completed Approvals and planning for drilling in progress Further exploration work at other projects in progress Page 4 | 12 ASX : TEM 3 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths The Board of the Company has authorised the release of this announcement to the market. About TEM Tempest Minerals Ltd is an Australian based mineral exploration company with a diversified portfolio of projects in Western Australia considered highly prospective for precious, base and energy metals. The Company has an experienced board and management team with a history of exploration, opLinkedInerational and corporate success. Tempest leverages the team’s energy, technical and commercial acumen to execute the Company’s mission to maximise shareholder value through focussed, data-driven, risk-weighted exploration and development of our assets. Investor Information investorhub.tempestminerals.com TEM welcomes direct engagement and encourages shareholders and interested parties to visit the TEM Investor hub which provides additional background information, videos and a forum for stakeholders to communicate with each other and with the company. Contact For more information, please contact: Don Smith Managing Director Level 2, Suite 9 389 Oxford Street Mt Hawthorn, Western Australia 6016 Website Instagram LinkedIn Twitter Youtube Facebook +61 892000435 Forward-looking statements This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement. The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. Tempest undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements). The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice. Competent Person Statement The information in this announcement that relates to Exploration Results and general project comments is based on information compiled by Oenone Montaigne who is a consultant geologist and Don Smith who is the Managing Director of Tempest Minerals Ltd. Don is a Member of AusIMM, AIG and GSA and has sufficient experience relevant to the style of mineralisation under consideration and to the activities 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’. Don consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Page 5 | 12 ASX : TEM 3 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths Appendix A: References 1. 2. 3. 4. 5. 6. 7. 8. LI3 ASX Announcement dated 06 August 2020 “Meleya Zone Prospectivity” TEM ASX Announcement dated 02 March 2022 “ Meleya Update - Expansion of granted tenure” TEM ASX Announcement dated 15 February 2023 “Increase in Yalgoo Landholding” TEM ASX Announcement dated 28 March 2022 “Meleya Update - Significant Discovery” TEM ASX Announcement dated 11 October 2022 “Meleya Update - Master Drilling Completion” TEM ASX Announcement dated 20 October 2022 “Meleya Update - Drilling at Clover Target” TEM ASX Announcement dated 09 December 2022 “Meleya Update - Completion of drilling 2022” TEM ASX Announcement dated 15 March 2023 “Meleya Update - 4km copper anomaly at Remorse Target” 9. Hollis S.P., Yeats C.J., Wyche S., Barnes S.J., & Ivanic T.J. (2017) “VMS Mineralisation In The Yilgarn Craton, Western Australia: A Review Of Known Deposits And Prospectivity Analysis Of Felsic Volcanic Rocks” 10. Smith R.E., Perdrix J.L (1982) “Pisolitic Laterite Geochemistry In The Golden Grove Massive SulphideDistrict, Western Australia” 11. ROY ASX Announcement dated 2012 “Royal Resources Limited 2012 Annual Report” 12. Whittle M. (1999) “Annual Report for the Baron Project.” Thundelarra Exploration Ltd. WA Department of Mines and Energy 13. LabWest Website https://www.labwest.net/ultrafine/ (accessed March 2023) Page 6 | 12 ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 Appendix B: JORC Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria Sampling techniques JORC Code explanation Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. ● ● Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). ● N/A ● Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. ● N/A ● ● ● ● Drilling techniques Drill sample recovery Commentary ● Page 7 | 12 ● ● ● QAQC entailed a revolving Blank/Standard/Duplicate at every 20th sample. The field duplicate was acquired by the sampler from the same soil profile as the original sample. 300g sample collected from the top of the B horizon and placed into pulp bag for assay. A separate 1kg sample collected from the top of B horizon in the same profile collected for potential future testing using different lab analysis. Both samples were unsieved as per lab analysis requirements. Sample bags were collected onsite and delivered to LabWest Minerals Analysis in Perth by Tempest or contract personnel, and were tested via UltraFine+ gold and multi element (50 elements) assay method. Soil samples are only used to determine the presence of gold plus 50 elements and are not used to determine mineral resources or reserves. ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 Logging ● Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. ● Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. ● Soils were qualitatively logged, including colour and texture. If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. ● N/A The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. ● UltraFine+ analysis was used to determine gold and multi element content, this method was chosen as it detects low levels of Au and multi-elements within ultrafine (< 2 μm) fraction of soil samples UltraFine+ Leachwell is considered a partial method as only gold recoverable from cyanide will be reported Laboratory and company QAQC results were used to determine the quality of data. All samples were submitted to LabWest Minerals Analysis in Perth and were multi element (50 elements) tested via UltraFine+ analysis UFF-PE. ● ● Sub-sampling techniques and sample preparation ● ● ● ● ● ● Quality of assay data and laboratory tests ● ● ● Page 8 | 12 ● ● ● ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. ● N/A Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. ● Sample point locations collected by handheld GPS (±3m horizontal, up to 12m vertical error - however error was consistently below 4m. Grid: Datum WGS84 UTM Zone 50S Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. ● Samples were located on a grid oriented at 090 on a 200m line spacing and 200m sample spacing, with each line offset 100m from the other. ● ● Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Soil sample points were located perpendicular to the general strike of geological formations when they were encountered. Most samples were acquired in areas with little to no surface geology (soil only, few proximal outcrops which were predominantly bedrock). ● The measures taken to ensure sample security. ● Sample bags were collected onsite and moved on scheduled weekly or collections directly to the laboratory in Perth by Tempest or contract personnel. ● The results of any audits or reviews of sampling techniques and data. ● Results were confirmed using company-led QA/QC, with standards, blanks and duplicates inserted every 20th sample. ● ● ● ● Location data points of ● ● ● Data spacing and distribution ● ● ● Orientation of data in relation to geological structure Sample security Audits reviews or ● Page 9 | 12 ● ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria Mineral tenement and land tenure status JORC Code explanation Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. ● ● Acknowledgment and appraisal of exploration by other parties. ● Tempest acknowledges the work by previous explorers including Minjar, Goldfields Exploration Pty Ltd, Thundelarra Exploration Ltd, and Royal Resources Ltd. ● Deposit type, geological setting and style of mineralisation. ● The project area lies over the easternmost interpreted extension of the Yalgoo Greenstone belt within the Warriedar Fold Belt. The Warriedar Fold Belt is known to comprise a folded sequence of dolerite and gabbro intercalated with basalt, Banded Iron Formation (BIF), sediments, and ultramafics. The area is known to host several historical gold workings at the Pinyalling Mining Centre (8 km SSW of the tenement area) where 958 ounces of gold was produced between 1902 - 1939 and later the Baron Rothschild project (pyrite and pyrrhotite-associated gold-hosted BIF) explored by Thundelarra Exploration during the late 1990s. Extensive historic works have been conducted over the eastern extension of the Yalgoo Greenstone belt just south of the sampling area, and by correlation, can infer a deeper understanding of the Ktulu Project geology supported by recent mapping. The main geology consists of a basal sequence of mafic rocks overlain by a thick sequence of felsic volcanic rocks, and later by jaspilitic BIF and banded grey chert intercalated with felsic volcanics. This is predominantly consistent with mapping conducted at the sampling area, however due to extensive ground cover and heavily weathered ● ● Exploration done by other parties Geology Commentary ● ● ● ● Page 10 | 12 All soil information quoted is from E5902465 and E5902479. This lease is owned 100% by Warrigal Mining Pty Ltd which is a subsidiary of Tempest Minerals Ltd. No overriding interests are present to the Company’s knowledge. Tempest acknowledges the traditional owners of the land. ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 ● Drill Information hole Data aggregation methods ● A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: ○ easting and northing of the drill hole collar ○ elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar ○ dip and azimuth of the hole ○ down hole length and interception depth ○ hole length. ○ If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. ● N/A ● In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. ● N/A These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). ● N/A ● ● Relationship between mineralisation widths and intercept lengths outcrops, further drilling is required for a stronger understanding of the local geology. Geochemistry from soil sampling suggests potential VMS style mineralisation across the main outcropping ridgeline (aka Remorse Target). The Remorse target is a coincidental geophysical (magnetic high and magnetic low) and geochemical (multi-elemental) anomaly. ● ● ● Page 11 | 12 ASX : TEM 2023-04-19 | Geochem anomaly extended with Nickel and Rare Earths | JORC TABLE 1 Diagrams Balanced reporting Other substantive exploration data Further work ● Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. ● N/A ● Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. ● N/A ● Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. ● N/A ● The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. ● Tempest Minerals will negotiate a heritage agreement with the native title claimants, progress a POW, and develop an initial drill program for the resultant target area. Exploration programs planned going forward include ○ Detailed geological interpretations and modelling ○ Downhole Electromagnetics ○ Airborne and ground-based EPR geophysical surveys ○ RAB or Aircore drilling ○ RC Drilling ○ Diamond Drilling ○ Further survey mapping and geochemical sampling ● Page 12 | 12 ●