Terra Metals Appoints Ben Hammond and Barry Jones to Advance Dante Project

Terra Metals Bolsters Development Capability as Dante Project Progresses

Terra Metals Ltd (ASX: TM1) has expanded its senior leadership team with two appointments aimed at supporting resource growth and development planning at the Dante Project in Western Australia. Terra Metals appoints Ben Hammond and Barry Jones to advance the Dante Project, adding project finance and specialised geological expertise to the company as drilling continues at the Southwest Discovery.

"Ben and Barry bring complementary skills that significantly strengthen Terra Metals' leadership team. Ben's project development and financing experience, together with Barry's internationally recognised expertise in layered mafic PGE-Cu-Ni systems, positions the Company well as it continues to grow the Dante Mineral Resource and advance the project towards development."

— Thomas Line, Managing Director & CEO, Terra Metals Ltd

According to the ASX announcement dated 9 July 2026, Terra Metals Ltd is focused on advancing the Dante Project, a Bushveld-style layered mafic intrusion in the West Musgrave region, while it continues drilling at the Southwest PGM discovery ahead of a targeted maiden Mineral Resource Estimate in late 2026.

Two Appointments Aligned with Dante Project Development

The leadership changes are framed by Terra Metals Ltd as part of a broader effort to support the Dante Project as it moves through intensive exploration and early-stage development studies.

The company reports that Dante already hosts a 148 Mt Mineral Resource containing 1.6 Moz of platinum, palladium and gold, along with copper, titanium and vanadium mineralisation. The Southwest Discovery, identified outside the existing resource, is being drilled with the aim of defining a maiden Mineral Resource Estimate in late 2026.

The selection of Hammond and Jones is closely aligned with this stage of project maturity:

• Hammond brings experience in mine development, project finance and technical due diligence.
• Jones contributes more than two decades of field and resource-definition experience, with a particular focus on the layered mafic PGE-Cu-Ni systems that characterise Dante.

This combination indicates that Terra Metals Ltd is building internal capability both to grow the resource base and to plan for potential development pathways, subject to future studies and market conditions.

Meet the New Executives

Ben Hammond – Chief Development Officer

According to the announcement, Ben Hammond has more than 22 years of experience covering mine operations, project development and corporate leadership roles.

Most recently, Hammond was Technical Director at TSX-listed WSP Global Inc., where he advised:

• development banks
• commercial banks
• mining-focused investment funds
• mining companies

His work has focused on project finance, acquisition technical due diligence and mine development across multiple jurisdictions.

For a company such as Terra Metals Ltd, which is working to convert a large exploration position into a project that may eventually attract development funding, this type of profile is highly relevant. Progressing from an exploration-stage Mineral Resource to a construction-ready project typically involves:

• independent technical reviews
• detailed engineering and economic studies
• engagement with debt and equity providers
• assessments by development banks and specialist mining funds

A senior executive who has worked on these processes from the advisory side can, furthermore, help frame technical information in a way that potential financiers understand and expect.

Hammond's key credentials include:

• 22+ years in mine operations, project development and corporate leadership
• Former Technical Director at WSP Global Inc. (TSX-listed)
• Advisory roles to development banks, commercial banks and mining funds
• Experience in project finance and acquisition due diligence for mining projects globally

For investors following Terra Metals Ltd, Hammond's appointment suggests that the company is preparing internally for the type of project evaluation and financing conversations typically associated with advanced studies, even as exploration remains a core focus.

Barry Jones – General Manager, Exploration & Operations

Barry Jones joins Terra Metals Ltd with more than 25 years of international exploration experience, ranging from greenfields discovery to Mineral Resource definition.

The company describes him as a leading expert in layered mafic PGE-Cu-Ni systems, which aligns directly with the geology of the Dante Project. This background is particularly emphasised in the ASX announcement through his work on South Africa's Bushveld Complex.

At Anglo American Platinum, Jones spent nine years leading exploration on the Bushveld Complex in support of development at the Mogalakwena PGM-Cu-Ni deposit. Mogalakwena is described as:

• the largest open pit Platinum Group Metal (PGM) sulfide mine in the world, and
• part of the Platreef layer of the Bushveld intrusion.

The announcement notes that Mogalakwena is currently owned and operated by Valterra Platinum, described as one of the world's largest platinum producers, while the deeper part of the Platreef layer is owned by Ivanhoe Mines.

Jones' key credentials include:

• 25+ years of international exploration experience
• Recognised as a leading expert in layered mafic PGE-Cu-Ni systems
• Nine years with Anglo American Platinum on the Bushveld Complex
• Led exploration work supporting the development of the Mogalakwena PGM-Cu-Ni deposit
• Experience from greenfields discovery through to Mineral Resource definition

For Terra Metals Ltd, consequently, bringing in an exploration leader with direct Bushveld and Platreef experience is particularly relevant, given that the Dante Project is described as a Bushveld-style layered intrusion in a comparable geological setting.

How the Two Roles Complement Dante's Requirements

The ASX announcement indicates that Dante is moving through a stage where both technical and development capability are important. A simplified view of how Hammond and Jones contribute is shown below:

From an investor perspective, this combination suggests that Terra Metals Ltd is aiming to:

• increase the quality and speed of geological targeting and resource-definition work at Dante
• enhance its ability to package and present the Dante Project to potential funding and development partners once studies are at the appropriate stage

Educational Section: Understanding Layered Mafic Intrusions and PGE-Cu-Ni Systems

The Dante Project is described by Terra Metals Ltd as a Bushveld-style layered mafic intrusion. For readers less familiar with geological terminology, several key concepts help frame why this matters.

What Is a Layered Mafic Intrusion?

A layered mafic intrusion is a large body of igneous rock that formed when molten rock cooled slowly beneath the Earth's surface. Over long periods of time, different minerals crystallised at different temperatures and settled into layers.

Important points:

• Mafic refers to rocks that are rich in magnesium and iron.
• These intrusions can be tens of kilometres in size.
• Because minerals separate into layers during cooling, certain layers can be enriched in metals.

In some of these intrusions, metals such as platinum, palladium, nickel, copper and chromium are concentrated in distinct layers or "reefs". When these layers are sufficiently thick, continuous and contain high-enough grades, they can become important mining targets.

What Are PGE-Cu-Ni Systems?

In the Dante context, Terra Metals Ltd highlights PGE-Cu-Ni mineralisation:

• PGE stands for Platinum Group Elements, mainly platinum and palladium in this case.
• Cu is the chemical symbol for copper.
• Ni stands for nickel.

A PGE-Cu-Ni system is a geological environment where these metals occur together, often in sulfide minerals. These systems are important because:

• Platinum and palladium are used in catalytic converters, electronics and some emerging technologies.
• Nickel and copper are used extensively in batteries, electrical wiring and heavy industry.

In layered mafic intrusions, PGE-Cu-Ni mineralisation often appears as continuous or semi-continuous reef-like layers, or as zones of sulfide minerals that host the metals of interest.

Exploration teams, such as those led by Barry Jones during his Bushveld work and now at Terra Metals Ltd, focus on identifying the geometry, grade and continuity of these layers to assess Mineral Resource potential.

Why Is Bushveld-Style Geology Referenced?

The ASX announcement notes that the Giles Complex, which hosts the Jameson Layered Intrusion and the Dante Project, is comparable in geological setting and intrusive style to major layered intrusion systems globally, including South Africa's Bushveld Complex.

Key features of the Bushveld include:

• Hosting multiple world-class PGM, nickel, copper and chromite deposits.
• Including the Mogalakwena and Platreef mineralised zones referenced in the announcement.

By highlighting Bushveld-style geology, Terra Metals Ltd is drawing attention to the type of system Dante may represent, without implying that the size, grade or economics will mirror Bushveld deposits. Those parameters will depend on ongoing drilling, resource estimation and future studies.

Dante Project Context and Current Status

Project Overview

According to Terra Metals Ltd, the Dante Project is located in the West Musgrave region of Western Australia and is hosted within the Jameson Layered Intrusion, part of the Giles Complex.

Key attributes reported in the ASX materials include:

Terra Metals Ltd states that the Jameson intrusion has the potential to become a major critical mineral province, and that over the past three years the company has consolidated what it considers to be the premier tenure over this system. The company is now solely focused on exploration and development of the Jameson Intrusion and related deposits.

Southwest Discovery

The Southwest Discovery is described by Terra Metals Ltd as a significant new PGM-Cu-Ni-Co sulfide system located outside the existing Dante Mineral Resource area.

According to the announcement:

• Mineralisation has been defined over more than 950 m of strike.
• The mineralised body is approximately 650 m in width.
• Drilling has traced mineralisation to at least 750 m down dip from surface.
• The system remains open along strike and at depth, indicating that further drilling is required to define its limits.

The company is currently drilling this discovery with the stated objective of delivering a maiden Mineral Resource Estimate in late 2026. Any such estimate would be in addition to the existing 148 Mt resource already reported at Dante.

From an investment perspective, this introduces a potential resource-growth catalyst for Terra Metals Ltd, dependent on drilling results, geological modelling and subsequent JORC-compliant estimation work.

Additional Exploration Corridors

Beyond the existing Dante Mineral Resource and the Southwest Discovery, Terra Metals Ltd reports that several additional mineralised corridors and targets have been identified across the broader intrusive system, including:

• Reef 5
• Cronus

While detailed results from these targets are not part of the 9 July 2026 announcement, their inclusion suggests that there is an active pipeline of exploration opportunities within the company's tenure.

Key Implications for Investors Following Terra Metals Ltd

The ASX announcement focuses on leadership appointments, but it sits within the broader context of project progression at Dante. Several implications can be drawn for investors monitoring Terra Metals Ltd:

1. Project development capability is being strengthened
   The appointment of a Chief Development Officer with a project finance and due diligence background indicates preparation for future development studies and funding discussions. This does not imply that a development decision has been made, but it does suggest that Terra Metals Ltd aims to be ready for higher-level evaluations as the project matures.

2. Geological expertise is closely aligned with the asset type
   Bringing in a layered mafic PGE-Cu-Ni specialist who has worked extensively on the Bushveld Complex aligns strongly with the described geological setting of Dante. This may, furthermore, assist in target selection, drilling design and eventual Mineral Resource modelling for both the existing Dante resource and the Southwest Discovery.

3. Resource growth is a core near-term focus
   The company continues to drill at the Southwest Discovery ahead of a targeted late 2026 maiden Mineral Resource Estimate. The system's current dimensions — 950 m strike, 650 m width, 750 m down dip, open in multiple directions — indicate that further drilling is required to define scale and continuity.

4. District-scale potential is being systematically assessed
   With tenure covering an 80 km by 30 km intrusive system and additional targets such as Reef 5 and Cronus, Terra Metals Ltd is positioned to evaluate multiple corridors within a single large geological complex. The pace and priority of exploration across these areas will likely depend on drilling results, funding availability and market conditions.

Taken together, the fact that Terra Metals appoints Ben Hammond and Barry Jones to advance the Dante Project adds further depth to the company at a time when Dante is moving through an active period of drilling, resource work and early thinking on potential development pathways.

Want to Learn More About Terra Metals and the Dante Project?

Terra Metals Ltd (ASX: TM1) is advancing one of Australia's most compelling Bushveld-style PGM-Cu-Ni projects, with a 148 Mt Mineral Resource already defined and a maiden Mineral Resource Estimate targeted at the Southwest Discovery for late 2026. With a strengthened leadership team now in place and drilling actively underway, investors looking to follow the Dante Project's progress can visit the company's official website at terrametals.com.au for the latest updates, announcements and project information.