Published on February 24, 2014
Managing Director’s Presentation 20 February 2014
Disclaimer This presentation has been prepared by Mithril Resources Limited (Mithril). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Mithril has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Mithril. Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, Mithril. In particular, they speak only as of the date of this document, they assume the success of Mithril’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. Mithril makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Mithril and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Mithril and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in A$ unless stated otherwise. Competent Persons Statement The information in this report that relates to the Nanadie Well Mineral Resource is based on information compiled by Mr David O’Farrell who is a full‐time employee of Intermin Resources Limited and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr O’Farrell has more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr O’Farrell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr David Hutton, who is a Competent Person, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton is Managing Director and a full-time employee of Mithril Resources Ltd. Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hutton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Page 2
Mithril Resources (ASX: MTH) Actively exploring Copper, gold, nickel Strong in-house capabilities Divesting high-risk greenfields projects WA Goldfields focus Page 3
Corporate Snapshot Directors Overview Graham Ascough - Non Executive Chairman ASX Code MTH David Hutton - Managing Director Shares on issue 252.5 million Donald Stephens - Options (unlisted) 19.3 million Non Executive Director and Company Secretary Market Cap $2.5M (at 1.1 cents) Derek Carter - Non Executive Director Cash (31 Dec 2013) $1.7M Richard Bonython - Non Executive Director Investments $0.8M (9.28 million MGV shares) Management Enterprise Value $0 Top 40 hold 44% Minotaur Resources - 8.5% ConsMin - 3.2% Lion Selection Fund - 3.1% Trading at cash + investment backing Jim McKinnon Matthews - Geology Manager Shareholders Directors and Management – 2% Institutions – 15% Retail – 83% Page 4
Latest developments WA Goldfields Meekatharra copper projects West Kambalda nickel anomalies Greenfields divestment MMG recommits to sole-funding East Arunta nickel search (in two JV’s) $1.5M spent to date with additional $2.5M + PFS required for MMG to earn 80% interest (nickel rights only) in Huckitta JV. MMG spending further $5M over 6 years to earn 90% in adjacent Harts Range JV Discussions underway with potential new East Arunta copper exploration partners Page 5
Meekatharra copper Acquired late December 2013 Excellent address Big mineralised systems 700km² landholding: Copper Hills JV (Doray) – MTH earning up to 80% by spending $1M over 4 years Page 6 Nanadie Well JV (Intermin) – MTH earning up to 75% by spending $4M over 6 years 100% - owned applications
Meekatharra copper Outcropping copper Multiple targets Limited deep drilling Significant upside Data review underway Page 7
Nanadie Well (Mithril earning 75%) Drill ready targets: Nanadie Well Copper Deposit (36Mt @ 0.4%Cu - 151Kt metal) Untested geophysical (IP) anomaly Historic gold workings (+1oz) Nanadie Well Copper Deposit 10 kilometres Page 8
Nanadie Well Copper Deposit – big upside Big copper system with high grade potential Mafic – hosted copper sulphides Nickel, PGE’s and LREE’s 900m length x 85m (ave) true width From surface to 200m depth Remains open in all directions Never been diamond drilled Confirmation of high-grade zones is priority Surface Open pit opportunity? Bedrock Page 9
Nanadie Well Copper Deposit – cross sections 100 metres 100 metres Page 10
Nanadie Well Copper Deposit – high grade? Mafic rocks and structure High grade drill intervals: Yellow (+0.5% copper) Red (+1% copper) Pink (+2.5% copper) New targets 500 metres Resource outline (0.1% Cu lower cut-off grade) Page 11
Nanadie Well Copper Deposit – IP targets Nanadie Well Copper Deposit Untested IP anomaly 200 metre spaced pseudo sections showing chargeability response Page 12
West Kambalda 20 km west of Kambalda 100km² landholding: Spargos Reward – 100% MTH Spargoville JV (KalNorth Gold) – MTH earning 80% by spending $2M over 4 years High-grade gold belt Widgiemooltha nickel deposits Multiple targets: Spargos Reward – recent MTH drill results: 8m @ 10.30g/t gold incl. 3m @ 25.73g/t 14m @ 6.75g/t gold incl. 6m @ 12.67g/t Page 13 Logan’s Find – new nickel anomalies
Logan’s Find – new gold and nickel anomalies Nickel auger anomalies (+1,000ppm Ni) + 50ppb Au anomaly 4km long gold zone Open along strike 11g/t gold in rock chips Limited drilling: + 1,000ppm Ni anomaly 6m @ 1.65g/t gold from 30 metres Sand cover masks southern strike extent 1 kilometre Area of sand cover Page 14
Logan’s Find – northern nickel anomalies +1,000ppm nickel auger anomaly 600m x 250m in area 5,504ppm Ni (max nickel value) – with coincident copper and PGE’s High MgO ultramafic 400 metres No prior nickel exploration Next steps – geological mapping / EM / drill + 1,000ppm Ni anomaly Page 15
Indicative Activities Follow-up West Kambalda nickel – March 2014 Quarter East Arunta copper exploration partner – June 2014 Quarter Drill Meekatharra copper targets – June 2014 Quarter MMG to drill East Arunta nickel targets – June 2014 Quarter Final timing to be confirmed and subject to Board approval Page 16
Resource Inventory Nanadie Well Copper Deposit (MTH earning 75%) 2004 JORC Code Classification Tonnes (Mt) Copper % Gold ppm Contained Copper (tonnes) Contained gold (ounces) Inferred 36.07 0.42 0.064 151,506 74,233 Refer to Intermin Resources’ ASX Announcement “Initial Resource Estimate for the Nanadie Well Cu-Au Project” dated 19 September 2013. The information pertaining to the Nanadie Well Copper Deposit Inferred Resource was prepared and first disclosed by Intermin Resources under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. Page 17
For further information: David Hutton – Managing Director Email - firstname.lastname@example.org Webpage - www.mithrilresources.com.au Phone - 08 8378 8200
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