10 December 2015

ABN: 45 116 153 514

ASX: TMX

Strategic Acquisition for Great Western Project & Update

On the 09th December 2015 Terrain Minerals Limited (ASX: TMX) ("Terrain" or "the Company") Entered into an agreement to Purchases E37/1214 from Wildviper Pty Ltd.

Terrain is pleased to have this key strategically located land around its 100% owned Great Western (GW) Project M37/54. This area is highly prospective and increases the existing strike extent to GW and the possibilities of other occurrences, within the tenement area.

Terms of the Deal; Terrain has purchased the area for single cash payment of $5,000.00 from Wildviper P/L. Wildviper P/L hold exploration rights over the area to a depth of two meters, these prospecting rights are not transferable.

Great Western - Update

The Great Western Project and the Bundarra tenement packages are now totally independent from each other, due to the final settlement with SRM. This allows Terrain to advance GW as a standalone project with certainty. Terrain has now reengaged communication with several groups regarding routes to production. As previously announced all options are being examined including joint venture partnership arrangements or a total asset sale.

Scoping study has identified a number of opportunities with respect to the mineral resource which are currently being evaluated. Further releases will be provided to market upon completion of the evaluation.

For further information, contact:

Justin Virgin Executive Director

Terrain Minerals Limited

Email: [email protected] Tel: +61 8 9381 5558

About Terrain Minerals Limited:

Terrain Minerals Limited (ASX:TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of:

• Rembrandt (Au)- high grade gold project under option, drilling program (now completed) to determine extent and tenor of mineralisation at high Monet Prospect currently underway;

• Gimlet (Ni-Cu)- 469km2 exploration licence located in the Fraser Range Province. Geophysical targets delineated, ground reconnaissance planned;

• Great Western (Au)- near term development opportunity, resource estimation and economic study process currently being conducted;

Through the combination of the three assets, Terrain has the potential of both near term cash flow and significant exploration upside.