Date: Oct 31, 2018

Mithril Resources Limited ( <>

Key Points

Billy Hills (Zinc)

– Targeting large scale zinc + lead + silver deposits similar to the nearby Pillara deposit

– Four initial targets characterised by elevated rock chip results up to 14.24% zinc + lead, an untested IP geophysical anomaly and broad zones of bedrock anomalism in historic drill intercepts prioritised for follow-up

Kurnalpi (Nickel)

– A new copper-cobalt target identified with 1.46% copper, 1.12% cobalt returned from sampling of historic drill spoils on a newly acquired tenement at southern end of project

Bangemall (Copper, Lead, Zinc)

– Multiple targets identified along strike from the Abra Deposit

– Prospectivity highlighted by airborne EM (GEOTEM) anomalies with overlapping anomalous surface geochemistry, and / or zones of copper and zinc in historic drill holes

Corporate

– Mithril entered into a new Vanadium Joint Venture with Monax Mining Ltd (Monax) at Limestone Well, whereby Monax can earn 80% by completing exploration expenditure of $2.5M over 5 years.

– Limestone Well lies directly north along strike from the Barrambie Titanium Vanadium Deposit (2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO2 and 0.44%V2O5)

Exploration Plan for next Quarter

– Execution of a Heritage Protection Agreement for the Billy Hills Project,

– Continuation of target generation activities for the Billy Hills, Bangemall and Duffy Well Projects, and

– Aircore drilling at Limestone Well (funded by Monax)

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