Date: Nov 26, 2018

Positive Metallurgical Results Received as Drilling Commences at the Richmond Vanadium Project Perth, Nov 26, 2018 AEST (ABN Newswire) – Intermin Resources Limited ( 1.5% and > 70% recovery(see Note 2 below)

– The run of mine ore was concentrated into 21% of the original mass and contained a low 7.6% calcium content enabling both an acid digestion or roasting downstream processing pathway to be evaluated(see Note 2 below)

– Further optimisation testwork is ongoing with a further 4t of sample transported to China to generate additional concentrate for downstream processing testwork

– Drilling has commenced at Richmond and Julia Creek with 800 holes planned for a total of 17,500m to an average depth of 30m within a A$1.2 million budget

– Regional drilling will comprise 350 holes for 7,500m testing a number of priority targets in both the Richmond and Julia Creek areas

– Infill drilling at Lilyvale comprises 450 holes for 10,000m to upgrade the current Inferred Mineral Resource of 671Mt at 0.35% V2O5 at a 0.29% cut-off grade(see Note 3 below) to the Measured and Indicated categories for Ore Reserve conversion

– Lilyvale forms part of the greater Richmond project with a Mineral Resource of 2,579Mt grading 0.32% V2O5 at a 0.29% cut-off grade (see Note 3 below) hosted in a soft oxide marine sediment 4m from surface(see Note 4 below)

– Completion of the first phase of test work is scheduled for mid-2019 enabling the commencement of a Preliminary Feasibility Study (see Note 5 below)

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