Mithril Resources Ltd

Published : October 15th, 2015

• Farm-in partner for new Kurnalpi Nickel-Gold Project

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Keywords :   Australia | Copper | Frontier | Gold | Market | Nickel |

• Farm-in partner for new Kurnalpi Nickel-Gold Project

20151015 Farmin Partner for new Kurnapli Nickel-Gold Project FINAL


ASX Release - 15 October 2015


Farm-in partner for new Kurnalpi Nickel-Gold Project

  • Chesser Resources (ASX: CHZ) to earn up to 80% of Mithril's Kurnalpi Project by reimbursing Mithril's tenement acquisition costs and completing exploration expenditure of $250,000 over 4 years

  • The Kurnalpi project consists of two recently granted tenements and is prospective for both nickel sulphide and lode gold mineralisation

  • Mithril will remain focussed on the emerging Stark copper-nickel-PGE discovery


Mithril Resources Ltd (ASX: MTH) is pleased to advise that it has executed a Binding Letter Agreement with Chesser Resources Limited ('Chesser' - ASX: CHZ) whereby Chesser is entitled to earn up to an 80% interest in two recently granted tenements (EL28/2506 and PL28/1271) located at Kurnalpi (approximately 60 kilometres north east of Kalgoorlie, WA - Figure 1) by reimbursing Mithril's tenement acquisition costs and completing exploration expenditure of $250,000 over 4 years.


The Kurnalpi Project tenements are both wholly-owned by Mithril and cover Archaen ultramafic / mafic sequences which are prospective for both nickel sulphide and lode gold mineralisation.


The terms of the farm-in agreement are as follows:


  • Chesser will reimburse Mithril its tenement acquisition costs ($17,389).

  • Chesser can earn an initial 51% interest in EL28/2506 and PL28/1271 by completing expenditure of $150,000 over 2 years.

  • Chesser can elect to earn an additional 29% interest through further expenditure of $100,000 over a further 2 years (in total 80% by spending $250,000 over 4 years).

  • Once Chesser has earnt its 80% interest, Mithril has the right to contribute on a pro rata basis or dilute as per industry standard formula. If Mithril's interest dilutes below 10% it will be deemed to have withdrawn and will be entitled to receive a 1.5% Net Smelter Royalty on all minerals.

  • Chesser is required to keep the tenements in good standing at all times and can only withdraw (following 30 days' notice) if the tenements are in good standing.

  • The agreement is subject to Chesser obtaining Ministerial Consent within 30 days of executing the Letter Agreement (Condition Precedent).


The introduction of a new farm-in partner for the Kurnalpi Project is significant as it not only sees externally - funded exploration activities commence at the project, but allows Mithril to maintain its focus on the emerging Stark copper-nickel-PGE discovery which is located 80 kilometres south east of Meekatharra in Western Australia.


22B Beulah Road

T:

(61 8) 8132 8800

ASX Code:

MTH

Norwood, South Australia, 5067

F:

(61 8) 8132 8899

Issued Shares:

498,598,877

Page 1 of 2

www.mithrilresources.com.au

E:

[email protected]

Market Capitalisation:

$1.99 million



Figure 1: Kurnalpi Project Location Plan


ENDS



For Further Information Contact:

Mithril Resources Ltd

David Hutton, Managing Director

[email protected]


58 King William Road Goodwood, South Australia 5034 ABN: 30 099 883 922

T: (61 8) 8378 8200

F: (61 8) 8378 8299

www.mithrilresources.com.au

Competent Persons Statement:

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.

About Mithril Resources Ltd:

Mithril Resources Ltd is an Australian exploration company focused on the discovery and development of base metal deposits primarily copper. Mithril is a frontier explorer with a small but highly experienced team based in Adelaide. Combining advanced technology with a proven field-based approach ensures the bulk of the company's expenses go directly into the ground.



22B Beulah Road

T:

(61 8) 8132 8800

ASX Code:

MTH

Norwood, South Australia, 5067

F:

(61 8) 8132 8899

Issued Shares:

498,598,877

Page 2 of 2

www.mithrilresources.com.au

E:

[email protected]

Market Capitalisation:

$1.99 million

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Mithril Resources Ltd

EXPLORATION STAGE
CODE : MTH.AX
ISIN : AU000000MTH3
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Contact Cpy

Mithril Res is a nickel and copper exploration company based in Australia.

Mithril Res holds various exploration projects in Australia.

Its main exploration properties are MUSGRAVE, DOMINION JV, CASEY PROJECT, SILVER SWAN NORTH, HAMMER HILL, HUCKITTA, PARDOO (HIGHWAY AND SUPPLY WELL), HOME OF BULLION, PROSPECT D and KALLI in Australia.

Mithril Res is listed in Australia, in Germany and in United States of America. Its market capitalisation is AU$ 5.1 millions as of today (US$ 3.7 millions, € 3.2 millions).

Its stock quote reached its highest recent level on January 28, 2011 at AU$ 0.21, and its lowest recent point on September 01, 2017 at AU$ 0.00.

Mithril Res has 848 099 968 shares outstanding.

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Corporate Presentations of Mithril Resources Ltd
7/31/2007Fourth Quarte Activities Report
Annual reports of Mithril Resources Ltd
• Full Year Statutory Accounts
2008 Annual Report
Financials of Mithril Resources Ltd
9/14/2016• Half Year Report June 2016
10/21/2015MTH Update - Quarterly Activities & Cash Flow Report Sep 201...
7/22/2015MTH Update - Quarterly Activities & Cash Flow Report Jun 201...
4/15/2015MTH Update - Quarterly Activities & Cash Flow Report Mar 201...
1/23/2014MTH Update - Quarterly Activities & Cash Flow Report Dec 201...
4/29/2013MTH Update - Quarterly Activities and Cash Flow Report March...
7/25/2012MTH Quarterly Activities and Cash Flow Report June 2012
Project news of Mithril Resources Ltd
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12/18/2013MTH Update - New Results Reinforce High-Grade Potential of N...
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12/5/2013MTH Update - Acquisition of Advanced Copper Project
11/26/2013MTH Update - Mithril Resources Ltd AGM 2013
10/8/2013MTH Exploration Update
10/4/2013MTH Update - MMG East Arunta Nickel Drilling Underway
9/9/2013MTH Update - East Arunta Copper Drilling Underway
8/19/2013MTH Update - East Arunta Copper Drilling Program
8/7/2013MTH Update - BRR Interview East Arunta Drilling Program Upda...
8/1/2013MTH Update - East Arunta Copper Drilling Update
6/3/2013MTH Update - BRR Interview Mithril discusses its Copper Targ...
5/27/2013MTH Update - Fieldwork Rapidly Progressing NT Copper Targets
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1/21/2013MTH Update: High-grade gold intersected at Spargos Reward
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8/1/2016• Company Exploration Update August 2016
7/26/2016• Quarterly Activities & Cash Flow Report June 2016
4/20/2016• Form 605 Ceasing to be a Substantial Holder
1/26/2016• Quarterly Activities & Cash Flow Report Dec 2015
11/3/2015• Doray farming in to Mithril's new Meekatharra gold project
10/23/2015• Notice of Meeting/Proxy Form
10/23/2015• Annual Report 2015
10/20/2015• Quarterly Activities & Cash Flow Report Sep 2015
10/20/2015• Half Year Report June 2015
10/15/2015• Farm-in partner for new Kurnalpi Nickel-Gold Project
10/7/2015• Cleansing Statement - Share Placement
10/6/2015• Appendix 3B - Placement
10/6/2015• Appendix 3B - Share Purchase Plan
10/1/2015• Completion of Share Purchase Plan and Placement
9/17/2015• Extension to Share Purchase Plan
9/7/2015• SPP Investor Update Presentation
9/2/2015• Two new regional targets confirmed at Stark
8/29/2015• SPP Offer Documents
8/26/2015• Dispatch of Share Purchase Plan Documents
7/29/2015• Geophysical surveys underway at Stark regional targets
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1/20/2015• BRR Interview - Stark Copper Nickel PGE Discovery
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11/28/2014• AGM Notification of Results 2014
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11/12/2014• Dispatch of Rights Issue Documents
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6/17/2013MTH Investor Update June 2013
4/30/2013MTH Update - 2013 SAREIC Conference Presentation
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3/20/2013(Huckitta)MTH Update - MMG Aeromagnetic Survey Underway at Huckitta
3/19/2013MTH Update - MTH AGES Conference Illogwa IOCG Presentation
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12/15/2008are pleased to report that additional rockchip sampling
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7/28/2008 REPORT FOR THE QUARTER ENDING 30 JUNE 2008
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