Turmalina Awarded Drill Permit for Chanape Project - Seite 2

In addition to the historic drilling the Company’s 2021 mapping program at the Project has so far identified over 20 tourmaline breccias, with at least six breccia pipes returning Cu-Au-Ag grades similar or better than surface grades at the historically drilled breccias or to those found thus far at the Company’s high-grade San Francisco project in Argentina (i.e. Chanape rock chips of up to 35 g/t Au and 89 g/t Ag in Cu-leached oxidised samples). Recent channel samples (Figure 3) include:

• 39m @ 1.31 g/t Au, 9 g/t Ag, 0.06% Cu (Breccia 11, Channel C)
• 18m @ 3.47 g/t Au, 305 g/t Ag, 0.3% Cu, 1.3% Pb (San Antonio breccia, Channel D)
• 25m @ 1.01 g/t Au, 11g/t Ag, 0.04% Cu (Breccia 8, Channel A)
  

Dr. Rohan Wolfe, Chief Executive Officer, states:

We are thrilled to obtain the FTA permit for the Chanape Project and we look forward to working closely with the supportive local community as we explore this fantastic project.

Chanape has multiple high-grade copper-gold-silver targets already defined and ready to drill. Receiving the FTA permit provides a significant expansion of our portfolio and represents a major step forward in our aim to discover and develop several high-grade copper-gold-silver systems in South America.

While the San Francisco breccia in Argentina is a great discovery in a great area, we have already discovered multiple such breccias at Chanape. Furthermore, the high-grade breccias at Chanape are clustered around mineralised intrusions that have the potential to host large-tonnage Cu-Mo systems. We look forward to drilling these targets over the coming months in what is a very exciting time for Turmalina Metals.

The company is currently reviewing drilling options and finalising logistics at the project. A 43-101 compliant technical report on the project is also being prepared.

Other Projects

Exploration continues at the San Francisco project in Argentina, with field work focused on detailed sampling of new vein, breccia and intrusion-hosted prospects. These prospects include the Ethan breccia, the Amarilla and Miranda vein systems and the Irma and Tres Mago South intrusion-related systems (see press release dated April 26^th 2022 for details).

COVID-19

All staff at the Companies Projects are fully vaccinated and the Company has applied rigorous protocols to minimize the spread of COVID-19 to our team and the community. These protocols are developed in consultation with local government authorities to ensure current best practise is adhered to. These procedures include regular testing, maintaining social distancing, improved hygiene, health screening of all staff and contractors, longer rosters at our field camps and the quarantining for 7 days of any staff member who tests positive for Covid 19 or 5 days of quarantine for any close contact of someone who has tested positive.