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Mithril Resources Ltd

Published : September 14th, 2016

• Full Year Statutory Accounts

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• Full Year Statutory Accounts

Mithril Resources Ltd

ABN 30 099 883 922

Consolidated Financial Statements

For the Year Ended 30 June 2016

ABN 30 099 883 922

Contents

For the Year Ended 30 June 2016

Page

Consolidated Financial Statements

Corporate Information 1

Directors' Report 2

Auditor's Independence Declaration under Section 307C of the Corporations Act 2001 15

Consolidated Statement of Profit or Loss and Other Comprehensive Income 16

Consolidated Statement of Financial Position 17

Consolidated Statement of Changes in Equity 18

Consolidated Statement of Cash Flows 19

Notes to the Financial Statements 20

Directors' Declaration 55

Independent Audit Report 56

Corporate Information

30 June 2016

Directors

Mr Graham Ascough (Chairman, Non-Executive Director) Mr David Hutton (Managing Director)

Mr Donald Stephens (Non-Executive Director)

Company Secretary

Mr Donald Stephens

Registered Office

C/- HLB Mann Judd (SA) Pty Ltd 169 Fullarton Road

DULWICH SA 5065

Principal Place of Business 22B Beulah Road NORWOOD SA 5067

Share Registry

Computershare Investor Services Pty Ltd Level 5, 115 Grenfell Street

ADELAIDE SA 5000

Legal Advisors O'Loughlins Lawyers Level 2, 99 Frome Street

ADELAIDE SA 5000

Bankers

Bank SA

97 King William Street ADELAIDE SA 5000

Auditors

Grant Thornton Audit Pty Ltd Chartered Accountants Level 1, 67 Greenhill Road

WAYVILLE SA 5034

1

Mithril Resources Ltd

ABN 30 099 883 922

Directors' Report

30 June 2016

Your directors submit their report for the year ended 30 June 2016.

DIRECTORS

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

Mr Graham Ascough Non-Executive Chairman

Mr David Hutton Managing Director

Mr Donald Stephens Non-Executive Director

Names, qualifications, experience and special responsibilities

Graham Ascough, BSc, PGeo (Chairman, Non-Executive Director)

Graham Ascough is a senior resources executive with more than 25 years of industry experience evaluating mineral projects and resources in Australia and overseas. He has had broad industry involvement ranging from playing a leading role in setting the strategic direction for significant country- wide exploration programmes to working directly with mining and exploration companies.

Mr Ascough is a geophysicist by training and was the Managing Director of Mithril Resources Ltd from October 2006 until June 2012. Prior to joining Mithril in 2006, Mr Ascough was the Australian Manager of Nickel and PGM Exploration at the major Canadian resources house, Falconbridge Ltd (acquired by Xstrata Plc in 2006).

Mr Ascough is also Chairman of ASX listed Musgrave Minerals Ltd, PNX Metals Ltd and Avalon Minerals Ltd. He is a member of the Australian Institute of Mining and Metallurgy and is a Professional Geoscientist of Ontario, Canada. He has also been a Director of Reproductive Health Science Ltd and Aguia Resources Ltd in the last 3 years.

David Hutton, BSc, (Managing Director)

David Hutton is a geologist who has spent the last 24 years working in both exploration and mining throughout Australia and overseas. After graduation, he spent 7 years with the MIM Group before joining Forrestania Gold NL / LionOre Australia, where he was involved in gold exploration throughout the WA Goldfields. He worked at Western Metals as Chief Geologist of the Lennard Shelf Operations prior to rejoining LionOre Australia where he was responsible for management of the East Kimberley Nickel Joint Venture. Prior to commencing with Mithril Resources Ltd in June 2012, David worked at Breakaway Resources where he was most recently Managing Director from May 2010 to June 2012.

David is a Fellow of the AusIMM and a Member of the AIG.

Donald Stephens, BA(Acc), FCA (Non-Executive Director)

Donald Stephens is a Chartered Accountant and corporate adviser with over 30 years experience in the accounting industry, including 14 years as a partner of HLB Mann Judd (SA), a firm of Chartered Accountants. He is a director of Petratherm Ltd, Gooroo Ventures Ltd, Lawson Gold Ltd and is company secretary to Highfield Resources Ltd, Duxton Water Ltd and Petratherm Ltd. In the last 3 years he has been a Director of Papyrus Australia Limited, TW Holdings Ltd, Reproductive Health Science Ltd and CRW Holdings Ltd.

He holds other public company secretarial positions and directorships with private companies and provides corporate advisory services to a wide range of organisations. He is also the company secretary and is a member of the Company's audit committee.

2

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Mithril Resources Ltd

EXPLORATION STAGE
CODE : MTH.AX
ISIN : AU000000MTH3
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Mithril Res is an exploration nickel and copper 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$ 6.8 millions as of today (US$ 4.7 millions, € 4.2 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
9/10/2015• Gold exploration to commence at Spargos Reward
2/17/2014MTH Update - New Nickel Targets at West Kambalda
12/18/2013MTH Update - New Results Reinforce High-Grade Potential of N...
12/11/2013MTH Update - New Gold Targets at West Kambalda
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
1/22/2013MTH Update - BRR Interview High-grade gold intersected at Sp...
1/21/2013MTH Update: High-grade gold intersected at Spargos Reward
12/11/2012BRR Interview Drilling commences at Spargos Gold Mine
10/23/2012Strong exploration results reinforce prospectivity of Yambah...
10/7/2009(Huckitta)Drilling Update
1/30/2009(Huckitta)(angl) Additional nickel-copper-PGE mineralisation discovere...
8/21/2008(Pardoo (highway And Supply Well))PARDOO DRILLING RESULTS
7/4/2008(Hammer Hill)HUCKITTA DRILLING UPDATE
6/16/2008(Pardoo (highway And Supply Well))COMMENCES DRILLING ON THE PARDOO NICKEL PROJECT
6/2/2008(Hammer Hill)HAMMER HILL DRILLING UPDATE – INITIAL ASSAYS
5/20/2008(Hammer Hill)Drilling at Hammer Hill intersects sulphide mineralisation
7/26/2007(Kalli)Drilling Commences on the Kalli Mineral Sands Joint Venture
Corporate news of Mithril Resources Ltd
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
7/22/2015• Quarterly Activities & Cash Flow Report Jun 2015
4/15/2015• Quarterly Activities & Cash Flow Report Mar 2015
4/13/2015• What next for the Stark Discovery - SAREIC Presentation
3/26/2015MTH: Spargoville JV Withdrawal
3/22/2015• Latest results confirm high-grade Cu-Ni-PGE potential at S...
3/18/2015• Spargoville JV Withdrawal
3/11/2015• Half Year Report December 2014
3/6/2015• BRR Interview New tenement expands land holding at the Sta...
1/20/2015• BRR Interview - Stark Copper Nickel PGE Discovery
12/22/2014• Board Changes
12/1/2014• BRR Interview Meekatharra Drilling Discussion
12/1/2014• Part Placement of Shortfall
11/30/2014• Meekatharra Drilling Underway
11/28/2014• AGM Notification of Results 2014
11/28/2014• AGM Chairman's Address
11/28/2014• Shortfall Notification
11/12/2014• Dispatch of Rights Issue Documents
10/21/2014• BRR Interview September Quarterly Report Discussion
2/18/2014MTH Update - MD's Presentation to RIU Explorers Conference
1/24/2014MTH Update - BRR Interview Dec 2013 Quarterly
12/20/2013MTH Update - MTH Expands Landholdings within Murchison Distr...
11/20/2013MTH Update - Harts Range JV Completion
10/28/2013MTH Recent ASX Announcements
10/17/2013MTH Update - East Arunta Copper Drilling Results
9/12/2013MTH Update - MMG Expands East Arunta Nickel Search
9/3/2013MTH Update - BRR Interview Successful Capital Raising
9/3/2013MTH Update - Successful Capital Raising
8/5/2013MTH Investor Update August 2013
7/17/2013MTH Update - BRR Interview June 2013 Quarterly Report Discus...
7/16/2013MTH Resources Update - Quarterly Activities and Cash Flow Re...
6/17/2013MTH Investor Update June 2013
4/30/2013MTH Update - 2013 SAREIC Conference Presentation
4/15/2013MTH Update - East Arunta Fieldwork Commences
4/15/2013MTH Company Update Presentation April 2013
3/27/2013MTH Update - Further High Gold at Spargos Reward
3/20/2013(Huckitta)MTH Update - MMG Aeromagnetic Survey Underway at Huckitta
3/19/2013MTH Update - MTH AGES Conference Illogwa IOCG Presentation
2/13/2013MTH Update - RIU Explorers Conference 13 February 2013
7/6/2012MTH Investor Update Presentation
4/17/2012News Release
3/2/2012News Release
2/27/2012News Release
12/12/2011News Release
11/29/2011News Release
9/6/2011News Release
8/31/2011News Release
8/30/2011News Release
8/1/2011Rescources Update
5/3/2011News Release
4/29/2011News Release
2/15/2011News Release
2/14/2011News Release
6/19/2009Investor Update
2/17/2009Cash Sale of Mineral Sands Interests
12/15/2008are pleased to report that additional rockchip sampling
12/12/2008application for quotation of additional securities
12/7/2008News Release
12/1/2008SA Explorers Conference
11/17/2008Asx Release
10/2/2008awarded drill funding for Indiana Property
9/30/2008acquires further exploration interests in the vicinity of Bl...
9/15/200815 September 2008
9/5/2008EXECUTIVE CHANGES
8/25/2008NEW VANADIUM-MAGNETITE PROSPECT
7/28/2008 REPORT FOR THE QUARTER ENDING 30 JUNE 2008
5/16/2008Resources Update
4/29/2008Quarterly Report March 2008
3/18/2008Musgrave Exploration Update
2/11/2008 Commences Aircore Drilling on Musgrave Tenements and Receiv...
10/30/2007 Quarterly Activities Report
10/2/2007Drilling Commences on the Silver Swan North JVContent-class:...
8/6/2007 to Float NSW Copper-Gold Assets with Meridian Minerals Limi...
8/6/2007Drilling Commences at the Pipeline Copper Prospect
8/3/2007Drill Results from the Dominion JV Confirm Presence of Nicke...
7/27/2007South Australia Musgrave Access
7/2/2007Further Drilling Planned on the Silver Swan North JV
4/30/2007Drilling Commences on the Dominion Joint Venture
3/23/2007Adds Four Tenements to its South Australia Musgrave Explorat...
3/16/2007Drilling Commences on Silver Swan North Joint Venture
3/9/2007Formulates Joint Venture on the Indiana Project Northern Ter...
2/28/2007Approval to Proceed with Applications for Access to Musgrave...
3/8/2006(Pardoo (highway And Supply Well))Nickel sulphide joint venture with Yilgarn Mining Limited
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AUSTRALIA (MTH.AX)BERLIN (MV7.BE)
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