14 APRIL 2022

PARKS REEF CONFIRMED AS A 5E PGM1 OREBODY AS COMPLETED ASSAYS CONFIRM PRESENCE OF HIGH VALUE RHODIUM AND IRIDIUM

Podium Minerals Limited (ASX: POD, 'Podium' or 'the Company') is pleased to announce that final assay results from a strategic value addition programme testing historic 3E PGM2 intercepts has confirmed high-grade, high-value Rhodium (Rh) and Iridium (Ir) mineralisation. These results along with previous reported assay testing (see announcement 28 March 2022) support the Company in its definition of a 5E PGM orebody at the Parks Reef PGM Project in Western Australia.

HIGHLIGHTS

  • • Completed assay results covering 127 historic holes (2,740 samples) confirm the presence of high-grade, high-value Rhodium as well as Iridium at Parks Reef along the 15km strike length.

  • • Newly tested intercepts showing high-grade Rh include:

    • o 13m at 3.87g/t 3E PGM, 0.15g/t Rh and 0.10g/t Ir for a total of 4.12g/t 5E PGM from 34m

      • - Incl.1m at 5.55g/t 3E PGM, 0.20g/t Rh and 0.13g/t Ir for a total of 5.88g/t 5E PGM from 37m

      • - Incl. 2m at 4.51g/t 3E PGM, 0.20g/t Rh and 0.13g/t Ir for a total of 4.84g/t 5E PGM from 39m

    • o 3m at 2.84g/t 3E PGM, 0.23g/t Rh and 0.09g/t Ir for a total of 3.16g/t 5E PGM from 24m

    • o 7m at 2.60g/t 3E PGM, 0.12g/t Rh and 0.05g/t Ir for a total of 2.76g/t 5E PGM from 36m

  • • Rhodium and Iridium contribute approximately 5%-6% increase in PGM weight to the existing reported 3E PGM mineral resource. This small increase in weight indicatively adds 30% in value to the weighted price per PGM ounce at Parks Reef.

  • • Rhodium is considered one of the rarest and most valuable metals in the world, currently valued at US$19,200/oz3 and is a critical 'green' metal used primarily as an auto catalyst to reduce harmful nitrous oxide gases from light vehicle gasoline emissions.

Commenting on the completion of the value adding initiative, CEO and Managing Director, Sam Rodda said, "These results place us well on the path to being Australia's first 5E platinum group metals producer with our 15km long Parks Reef Project revealing the presence of high-grade, high-value Rh and Ir throughout the orebody, both of which are extremely valuable metals. To put this into perspective, with Rh currently trading above US$19,000 per ounce and Ir trading around US$5,100 per ounce4, these results have the potential to add approximately 30% in value to the weighted price per PGM ounce at Parks Reef."

  • 1 5E PGM refers to platinum (Pt) plus palladium (Pd) plus gold (Au) plus Iridium (Ir) plus Rhodium (Rh) expressed in units of g/t

  • 2 3E PGM refers to platinum (Pt) plus palladium (Pd) plus gold (Au) expressed in units of g/t

  • 3 Source: Johnson Mattheyhttps://platinum.matthey.com 12/04/2022

  • 4 Source: Johnson Mattheyhttps://platinum.matthey.com 12/04/2022

CONFIRMATION OF SIGNIFICANT RHODIUM AND IRIDIUM ALONG OREBODY STRIKE

Podium has now completed its historical analysis of archived pulp samples, testing for all platinum group elements, to confirm the presence of Rh and Ir continuity within the 15km long proven orebody.

Completion of this initiative, that was designed to add further value to the existing inferred resource, involved the assay of 2,740 historic samples from 127 holes, which were selected from intervals having anomalous 3E

PGM values.

The programme commenced in early February 2022, testing samples stored in Perth at the Bureau Veritas (BV) facility.

Figures 1 and 2 show the drill holes assayed historically and as part of this current programme, for which 5E PGM results have now been received (blue and red dots). The blue dots represent holes containing 5E PGM assays for Rh ≥0.10g/t over intervals ≥2m.

Figure 1. Aerial image of the Parks Reef Project, showing 5E PGM assay status - East view

PRRC007

6m at 2.25g/t 3E PGM, 0.16g/t Rh and 0.07g/t Ir for a total of 2.48g/t 5E PGM from 15m

Incl.

1m at 2.77g/t 3E PGM, 0.24g/t Rh and 0.10g/t Ir for a total of 3.10g/t 5E PGM from 19m

PRRC009

10m at 2.14g/t 3E PGM, 0.12g/t Rh and 0.06g/t Ir for a total of 2.32g/t 5E PGM from 20m

PRRC042

13m at 3.87g/t 3E PGM, 0.15g/t Rh and 0.10g/t Ir for a total of 4.12g/t 5E PGM from 34m

Incl.

1m at 5.55g/t 3E PGM, 0.20g/t Rh and 0.13g/t Ir for a total of 5.88g/t 5E PGM from 37m

Incl.

2m at 4.51g/t 3E PGM, 0.20g/t Rh and 0.13g/t Ir for a total of 4.84g/t 5E PGM from 39m

PRRC094

3m at 2.84g/t 3E PGM, 0.23g/t Rh and 0.09g/t Ir for a total of 3.16g/t 5E PGM from 24m

PRRC098

7m at 2.60g/t 3E PGM, 0.12g/t Rh and 0.05g/t Ir for a total of 2.76g/t 5E PGM from 36m

PRRC170

7m at 2.17g/t 3E PGM, 0.14g/t Rh and 0.06g/t Ir for a total of 2.36g/t 5E PGM from 20m

Incl.

1m at 3.40g/t 3E PGM, 0.21g/t Rh and 0.10g/t Ir for a total of 3.71g/t 5E PGM from 23m

Figure 2. Aerial image of the Parks Reef project, showing 5E PGM assay status - West view

Significant Rh intercepts from the recent results received are based on 0.1g/t Rh intervals5 multiplied by the Rh grade. These include:

5 The interval multiplied by grade is to be =>0.5 for the intercept to be considered significant.

Sam Rodda

Skye Gilligan

Chief Executive Officer & Managing Director

Media & Investor Relations

samr@podiumminerals.com

skye@gilligangroup.com.au

+61 8 9218 8878

+61 416 854 264

ABOUT PODIUM MINERALS LIMITED

The recent results confirm presence of Rh and Ir within the full strike of the orebody and have similar grade and widths to the previously announced interim results6 from approximately 700 samples for 31 holes (see ASX announcement dated 28 March 2022).

The completed assay programme shows an average increase in 5E PGM grade from 3E PGM grade of between 5%-6%, and on average Rh and Ir represent 3%-4% and 1%-2% of the total 5E PGM grade respectively. The high value of Rh and Ir indicatively adds 30% to the weighted value of a Parks Reef PGM ounce based on current Rh and Ir prices.

Future mineralised drill results will continue to be tested for the full PGM suite as drilling progresses.

For further information, please contact:

Podium Minerals Limited is an ASX listed exploration and resources development company focused on platinum group metals, gold and base metals.

The Company's 100% owned extensive Parks Reef PGM Project comprises a 15km strike of near surface PGM-Au-base metal mineralisation which is located within our mining leases in the Mid-West Region of Western Australia.

Podium is targeting high value metals with strong market fundamentals and growth prospects with a strategy to rapidly develop an alternative supply of PGMs to the world market.

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to the Parks Reef Project is based on and fairly represents information compiled by Mr. Doug Cook (Exploration Manager for Podium Minerals Limited).

Mr. Cook is a member of the Australasian Institute of Mining and Metallurgy.

Mr. Cook has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr. Cook consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

6 Refer to ASX announcement dated 28 March 2022

APPENDIX A

FULL LIST OF 5E PGM RESULTS

Hole ID

mE

mN

PRRC001

570559

7028336

5

24

19

112

incl.

17

19

2

10

PRRC002

570564

7028325

20

38

18

105

PRRC003

570370

7028261

4

21

17

107

incl.

15

19

4

16

PRRC004

570378

7028246

23

41

18

100

PRRC005

570201

7028158

34

52

18

114

PRRC006

570206

7028146

55

71

16

81

PRRC007

569836

7027976

7

23

16

162

incl.

15

21

6

43

incl.

19

20

1

51

PRRC008

569842

7027966

27

39

12

101

incl.

34

38

4

30

PRRC009

569677

7027845

20

32

12

74

incl.

20

30

10

80

PRRC010

569683

7027836

37

53

16

68

incl.

48

53

5

11

PRRC011

569197

7027486

10

25

15

176

incl.

21

24

3

23

PRRC012

569203

7027476

26

45

19

79

PRRC013

569054

7027339

32

34

2

267

PRRC013

569054

7027339

43

49

6

18

PRRC014

569060

7027330

41

54

13

252

incl.

49

53

4

25

PRRC015

568898

7027215

12

18

6

130

PRRC016

568904

7027205

20

25

5

52

PRRC017

569528

7027715

7

21

14

84

incl.

16

18

2

12

PRRC018

569521

7027725

2

5

3

25

PRRC019

569368

7027597

15

30

15

156

incl.

24

30

6

14

PRRC020

569374

7027588

32

49

17

48

incl.

43

46

3

10

PRRC021

568743

7027087

25

34

9

53

incl.

28

32

4

40

incl.

29

30

1

43

PRRC022

568749

7027077

40

47

7

8

PRRC023

570582

7028291

77

97

20

77

incl.

94

96

2

7

PRRC024

568764

7027055

84

90

6

23

PRRC025

570419

7028176

159

180

21

101

PRRC026

570230

7028111

121

132

11

166

incl.

128

130

2

92

PRRC027

570071

7027980

102

118

16

70

PRRC028

569861

7027932

88

102

14

78

incl.

99

101

2

7

incl.

100

101

1

7

PRRC029

569722

7027767

142

161

19

69

incl.

155

160

5

11

PRRC030

569551

7027673

80

100

20

95

incl.

96

99

3

12

PRRC031

569404

7027515

152

164

12

97

PRRC032

569224

7027440

84

100

16

44

MGA Z50 (GDA 94)

FN001

Au_ppb

Pt_ppb

Pd_ppb

3E g/t

Ir_ppb

Rh_ppb

5E g/t

1092

848

2.05

42

89

2.18

2160

1255

3.43

104

244

3.77

992

756

1.85

29

58

1.94

869

901

1.88

28

53

1.96

1166

1365

2.55

61

119

2.73

764

580

1.44

23

41

1.51

749

551

1.41

21

38

1.47

738

741

1.56

20

38

1.62

1237

900

2.30

40

90

2.43

1336

866

2.25

67

163

2.48

1870

844

2.77

95

235

3.10

852

634

1.59

36

82

1.71

1052

762

1.84

59

140

2.04

1110

769

1.95

54

118

2.13

1236

827

2.14

57

123

2.32

785

716

1.57

31

74

1.67

863

680

1.55

54

129

1.74

948

782

1.91

36

61

2.00

1115

719

1.86

75

122

2.05

791

674

1.54

25

46

1.62

938

498

1.70

10

15

1.73

582

642

1.24

31

70

1.34

1282

798

2.33

42

85

2.46

1276

787

2.09

66

131

2.29

1016

705

1.85

21

43

1.92

927

572

1.55

38

79

1.67

985

703

1.77

38

62

1.87

1230

1302

2.54

63

123

2.73

383

543

0.95

45

97

1.09

860

669

1.69

39

84

1.81

1029

763

1.81

62

131

2.00

835

648

1.53

34

68

1.63

958

612

1.58

62

125

1.77

1181

512

1.75

47

91

1.88

1305

577

1.92

75

144

2.14

1850

750

2.64

95

205

2.94

770

480

1.26

46

76

1.38

779

703

1.56

16

43

1.62

1170

854

2.03

53

131

2.22

691

562

1.28

36

79

1.39

736

697

1.53

20

41

1.59

1393

774

2.33

50

98

2.48

4760

2850

7.70

217

467

8.39

707

712

1.49

23

49

1.56

776

733

1.59

28

58

1.67

1420

990

2.42

78

153

2.65

1740

1160

2.91

105

200

3.21

749

757

1.58

28

58

1.66

863

731

1.61

52

110

1.77

768

738

1.60

28

59

1.68

871

769

1.65

50

112

1.81

739

692

1.53

22

35

1.59

756

764

1.56

33

75

1.67

FromToLength

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Podium Minerals Ltd. published this content on 13 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2022 22:24:02 UTC.