Update on Authorisations for Flinders Project

Taruga Minerals Ltd (ASX: $TAR) has received a determination regarding authorisations sought for the Flinders Project in South Australia. The Company's 100% owned subsidiary, Strikeline Resources Pty Ltd, applied for approval to continue exploration in two prospect areas, Jenkins and Woolshed, in the north of the Flinders Project (EL 6362). The determination, received after a nearly three-year period, was communicated in a letter from the Minister for Aboriginal Affairs (SA), the Hon Kyam Maher MLC, declining the authorisations requested under sections 21 and 23 of the Aboriginal Heritage Act 1988 (SA).

Executive Commentary

Taruga is disappointed with the determination of the Section 21 and 23 authorisations and the significant delay in receiving such outcome. However, the Company remains respectful of the land's traditional owners and is committed to maintaining positive local relations in the community. Taruga has been actively engaged in aboriginal employment, skills training, and sponsorship of local initiatives while operating in the area. In light of this determination, the Company will assess its operations in South Australia and consider the right to appeal the decision. This announcement was approved by the Board of Taruga Minerals Limited.

Summary of Flinders Project Update

Taruga Minerals Ltd (ASX: $TAR) has received a determination on the authorisations sought for the Flinders Project in South Australia, with the Minister for Aboriginal Affairs (SA) declining the requested authorisations under sections 21 and 23 of the Aboriginal Heritage Act 1988 (SA). The Jenkins and Woolshed prospect areas, covering less than 10% of the Flinders Exploration Licence, are located on freehold land and outside of any native title claims and native title determined areas. Despite the disappointment with the determination and the delay, Taruga remains committed to respecting the land's traditional owners and fostering positive local relations. The Company will review its operations in South Australia and consider the possibility of appealing the decision. Taruga's engagement in aboriginal employment, skills training, and sponsorship of local initiatives reflects its dedication to the community. The outlook for the Flinders Project will depend on the Company's assessment of its operations and any potential appeal against the determination.