Terramin Australia Limited (ASX: TZN) (Terramin or the Company) is pleased to announce that it has entered into an agreement with JOGMEC for exploration of the South Gawler Ranges Project which covers approximately 4,524 km2 and is located c.

100km west of Port Augusta and 185kms southwest of OZ Minerals Limited's Carrapeteena Copper-Gold Mine that hosts 950Mt at 0.75% Copper and 0.25g/t gold. The SGRP is an underexplored, highly prospective multi-commodity asset with potential to host significant Iron Oxide Copper Gold (IOCG) mineralisation alongside epithermal Ag-Pb-Zn deposits, tin-tungsten and copper gold skarns along with potential porphyry systems.

The Project includes the Menninnie Dam and Viper Deposits which hosts a JORC 2004 compliant inferred resources totaling 7.7Mt at 5.7% Zn+Pb and 27g/t Ag at a 2.5% Zn-Pb cutoff and remains open at depth and along strike (ASX announcement 1st March 2011). Hematite-rich hydrothermal breccias comparable to those in the Olympic Dam IOCG deposit crop out at several localities in the SGRP and are yet to be drill tested.

Commenting on the Agreement, Terramin's Executive Officer Martin Janes, said: 'The Terramin Exploration team is excited that JOGMEC shares our vision on the potential of the South Gawler Ranges Project where geochemically anomalous epithermal alteration, veins and breccia outcrops, and associated geophysical features, indicate the potential for near-surface large tonnage IOCG deposits comparable in size to Carrapeteena. The increased exploration funding enables an accelerated exploration program on the Project, thereby maximising the chances of a significant return to Terramin from this non-core asset. The ability for Terramin to attract a quality partner such as JOGMEC supports Terramin's approach to early-stage exploration and prospect generation.'

ABOUT JOGMEC

Japan Oil, Gas and Metals National Corporation is a Japanese government Independent Administration Institution tasked to ensure a stable supply of mineral resources for Japan. JOGMEC has a demonstrated track record of participating in the Australian mineral exploration industry.

Contact:

Martin Janes

Tel: +61 8 8536 5950

Email: info@terramin.com.au

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