Trek Metals : Half Yearly Report and Accounts

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CONSOLIDATED FINANCIAL REPORT

FOR THE HALF-YEAR ENDED

30 SEPTEMBER 2021

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CONTENTS
Corporate Directory .................................................................................................................................	2
Directors' Report......................................................................................................................................	3
Review Of Operations ..............................................................................................................................	4
Auditors' Independence Declaration.....................................................................................................	12
Condensed Consolidated Statement of Profit or Loss ...........................................................................	13
Condensed Consolidated Statement of other Comprehensive Income ................................................	14
Condensed Consolidated Statement of Financial Position....................................................................	15
Condensed Consolidated Statement of Changes in Equity....................................................................	16
Condensed Consolidated Statement of Changes in Equity....................................................................	17
Condensed Consolidated Statement of Cash Flows ..............................................................................	18
Notes to the Condensed Consolidated Financial Statements ...............................................................	19
Directors' Declaration ............................................................................................................................	33
Independent Auditor's Report...............................................................................................................	34

CORPORATE DIRECTORY

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DIRECTORS
Tony Leibowitz	Non-Executive Chairman
John Young	Executive Director
Neil Biddle	Non-Executive Director

COMPANY SECRETARY

Bermuda

Apex Corporate Services Ltd.

Vallis Building, 4th Floor

58 Par-la-Ville Road Hamilton HM 11 Bermuda

Australia

(Local Agent and Joint Company Secretary)

Russell Hardwick

REGISTERED OFFICE OF INCORPORATION

Trinity Hall

43 Cedar Avenue

Hamilton HM 12

BERMUDA

REGISTERED OFFICE - AUSTRALIA

130 Stirling Highway

North Fremantle WA 6159

AUSTRALIA

Tel: [phone]

Fax: [phone]

POSTAL ADDRESS

Locked Bag 4

North Fremantle WA 6159

AUSTRALIA

SHARE REGISTRY

Computershare Investor Services Pty Ltd

GPO Box D182

Perth WA 6841

AUSTRALIA

Tel: [phone]

AUDITORS

Hall Chadwick WA Audit Pty Ltd

283 Rokeby Road

Subiaco

WA 6008

SOLICITORS TO THE COMPANY

Steinepreis Paganin

Level 4

The Read Buildings

16 Milligan Street

Perth WA 6000

AUSTRALIA

WEBSITE

www.trekmetals.com.au

TREK METALS LTD

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DIRECTORS' REPORT

The Directors are pleased to submit the report of Trek Metals Limited ("TKM", "Trek" or the "Company Company") and its controlled entities ("Consolidated Entity" or "Group") for the half year ended 30 September 2021.

PRINCIPAL ACTIVITIES

The principal activities of the Company and its subsidiaries ("the Group") is the identification and exploration for mineral resources.

RESULTS AND DIVIDEND

The loss for the Group for the half-year ended 30 September 2021 was AU$671,747 (2020: loss of AU$11,926). The Directors do not recommend the payment of a dividend.

DIRECTORS

The names of the Company's directors in office during the half year and until the date of this report are as below. Directors were in office for the entire period unless otherwise stated.

Neil Biddle (Non-Executive Director)

John Young (Executive Director)

Tony Leibowitz (Non-Executive Chairman)

TREK METALS LTD

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REVIEW OF OPERATIONS

PILBARA GOLD AND BASE METALS PROJECT - WESTERN AUSTRALIA

During the half-year, Trek progressed exploration and drilling programs across its 100%-owned Pilbara Gold and Base Metals Projects in Western Australia, comprising the strategically-located Pincunah, Jimblebar and Tambourah Projects.

The Pincunah Gold and Base Metals Project is located 70km west of Marble Bar and includes tenements located near significant established gold and base metal deposits. The Tambourah Project covers the central portion of the 15km long Western Shaw greenstone belt. The Jimblebar Gold Project includes a greenstone-scale exploration opportunity within a historical goldfield. All three projects include prospects for gold and base metal mineralisation and numerous drill targets and exploration opportunities, with virtually no exploration in modern times.

Figure 1: Pilbara Project - Tenements Location Plan.

Pincunah Gold and Base Metals Project (E45/4909, and E45/4917)

The Pincunah Project is located 70km west of Marble Bar, 100km south of Port Hedland and 5km southeast of the 873,500oz Mt York Gold Project, owned by Kairos Minerals Limited (ASX: KAI).

Trek completed a soil sampling program, comprising 1,186 fine fraction soil samples, at the Pincunah Project during April. Soil sample locations are shown in Figure 1, with details of the sample and assay

TREK METALS LTD

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