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Prospect

Hole Id

Easting

Northing

Dip°

Azi°

EOH Depth

Comments

Stark

NDD15001

694,232

6,994,112

-60

260

273.6 metres

Cased for DHEM

Stark

NDD15002

694,191

6,994,198

-58

262

350.2 metres

Diamond tail to NRC14002 - drilled from 304.2 metres to 350.2 metres. Cased for DHEM

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Prospect

Hole Id

From

Width

Cu (%)

Ni (%)

Au (g/t)

Pt (g/t)

Pd (g/t)

Au+Pt+Pd (g/t)

Ag (g/t)

Stark

NDD15001

213.43

16.37

0.40

0.07

0.06

0.03

0.11

0.20

-

including

213.43

0.27

0.41

1.62

0.05

0.01

1.54

1.60

-

and

213.70

0.43

2.19

0.12

0.23

0.06

0.48

0.77

-

"

"

246.35

0.60

3.81

0.05

0.31

0.09

0.65

1.05

19.1

including

246.35

0.15

13.70

0.16

1.23

0.31

2.40

3.94

73.7

"

NRC14001

28

11

0.33

0.06

-

0.07

0.24

0.31

-

"

"

51

6

0.30

0.07

0.01

0.06

0.22

0.29

-

"

NRC14002

190

4

0.28

0.06

0.14

0.05

0.29

0.49

-

"

"

261

8

0.29

0.06

0.07

0.06

0.23

0.35

-

"

"

274

3

0.43

0.12

0.05

0.09

0.17

0.31

-

"

NDD15002

304.60

4.00

0.37

0.07

0.06

0.05

0.11

0.21

-

"

"

312.80

9.35

0.33

0.07

0.04

0.04

0.12

0.20

-

"

"

333.00

5.00

0.39

0.07

0.05

0.02

0.08

0.15

-

"

NRC14003

144

13

0.44

0.08

0.03

0.05

0.17

0.24

-

including

152

2

1.04

0.18

0.06

0.04

0.39

0.49

-

"

NRC14005

191

4

0.27

0.08

0.03

0.10

0.23

0.36

-

"

NRC14006

60

7

0.04

0.03

0.04

0.22

0.41

0.66

-

"

"

101

5

0.27

0.08

0.05

0.07

0.09

0.22

-

"

NRC14007

24

2

0.32

0.01

0.02

0.09

0.10

0.21

-

"

"

76

2

1.32

0.03

0.18

0.20

0.42

0.80

-

"

NRC14008

151

10

0.49

0.05

0.09

0.11

0.25

0.45

-

"

"

169

5

0.55

0.04

0.02

0.06

0.17

0.25

-

"

"

183

16

0.81

0.09

0.12

0.07

0.20

0.39

-

including

194

4

1.91

0.18

0.32

0.19

0.45

0.96

-

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Criteria

JORC Code explanation

Commentary

Sampling techniques

Nature and quality of sampling (e.g. cut channels, random

chips, or specific specialised industry standard

measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

Diamond drilling was completed at the Stark copper-nickel-PGE

prospect.

Quarter core samples were collected on the basis of geological intervals and will typically range in length from 0.25 to 1 metre.

Sampling techniques

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Each drill hole location (easting and northing) was collected by a

handheld GPS. Detailed logging of Collar, Drilling, Survey,

Lithology, Sample, and Magnetic Susceptibility information was completed for every metre, or as necessary, for each drill hole.

All logging and sampling protocols remained constant throughout the program.

Sampling techniques

Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

NQ Diamond drill core was obtained for geological logging and

sampling purposes.

Quarter core samples were collected on the basis of geological intervals and typically range in length from 0.25 to 1 metre. Samples (typically 1 - 3kg sample weights were collected for geochemical analysis by ALS Laboratories in Perth, WA.

In the laboratory, samples were crushed (~10mm) and pulverised to produce a representative 25g sub-sample for analysis using fire assay with ICP-MS finish for Au, Pt, and Pd (PGM-ICP23 - Lab Code) and four acid digest with ICP-AES finish for Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sn, Sr, Te, Ti, Tl, V, W, and Zn (ME-ICP61 - Lab Code).

Drilling techniques

Drill type (e.g. core, reverse circulation, open-hole hammer,

rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of Diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).

A LF90D Diamond drill rig was used to complete the program. Drill rod size was HQ followed by NQ.

Drill sample recovery

Method of recording and assessing core and chip sample

recoveries and results assessed.

Drill core recoveries were recorded at the time of logging.

Drill sample recovery

Measures taken to maximise sample recovery and ensure

representative nature of the samples.

No measures taken to maximise sample recovery.

Drill sample recovery

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

No relationship has been identified.

Logging

Whether core and chip samples have been geologically and

geotechnically logged to a level of detail to support

appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Detailed logging of Collar, Drilling, Survey, Lithology, Sample, and

Magnetic Susceptibility information was completed in each hole.

Lithology and Magnetic Susceptibility was logged for every metre intervals, and Surveys collected every 30 - 50m down hole.

Logging

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography

Logging of core samples is of a qualitative nature.

Drill core is logged for lithology, colour, texture, weathering, minerals, alteration, and sulphide percentage and type, with comments included as necessary. Photos of the core are taken for the entire hole. Logging is qualitative in nature.

Logging

The total length and percentage of the relevant

intersections logged.

Every hole was logged (Lithology and magnetic susceptibility) for

every metre (entire length of hole).

Sub- sampling techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or

all core taken.

Diamond drill core was sawn and quarter core samples were

submitted for analysis.

Sub- sampling techniques and sample preparation

If non-core, whether riffled, tube sampled, rotary split, etc.

and whether sampled wet or dry.

Not applicable as only core samples are to be collected.

Sub- sampling techniques and sample preparation

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

The sample preparation of the Diamond drill core samples follows

industry best practice, involving oven drying (110°C) where necessary, crushing and pulverising (~90% less than 75μm).

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Criteria

JORC Code explanation

Commentary

Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

Along with the core samples, standards and blanks were inserted

(around every 50 samples) and were included in the laboratory analysis process. Standards were Certified Reference Material (from Geostats Pty Ltd) of varying grades of Cu and Ni, and blanks were coarse sand.

Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

For each quarter core sample submitted for analysis, the remaining drill core sample has been retained for future analysis if warranted. Drill core was also photographed prior to sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled

Sample sizes are considered appropriate for the exploration

method and produce results to indicate degree and extent of

mineralisation.

Quality of assay data and laboratory tests

The nature, quality and appropriateness of the assaying

and laboratory procedures used and whether the technique is considered partial or total.

Fire Assay and a four acid digest are considered near total digest and are appropriate for the type of exploration undertaken.

Quality of assay data and laboratory tests

For geophysical tools, spectrometers, handheld XRF

instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

A handheld XRF instrument (NITON) was used in the field to assist with identifying anomalous base metal zones. Magnetic susceptibility readings were also taken of each sample.

Quality of assay data and laboratory tests

Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

The laboratory will complete repeats analysis on samples

returning >10000 ppm Cu and Ni, >5% S, and >20% Mg. Routine (around 1 in 30) repeats and regular blanks and standards analysed throughout. From results achieved it is determined an acceptable level of accuracy and precision has been established.

Verification of sampling and assaying

The verification of significant intersections by either

independent or alternative company personnel.

Results included within were verified by the Company's Geology

Manager and Managing Director.

Verification of sampling and assaying

The use of twinned holes.

While no twin holes were drilled, the new Diamond drill holes

described in this report were drilled down dip and along strike

from existing mineralised RC drill holes.

Verification of sampling and assaying

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

Collar locations were predetermined in the office and modified in

the field as necessary (dependent on access etc.). All data

collection (lithology logging, sampling, etc.) was completed at each drill hole location as hole was being drilled. Data initially written on paper log sheets. A complete data set (excel spreadsheet) will be created by Mithril on completion of the program, based on all information collected. Following verification, all data will be included in an Access Database.

Verification of sampling and assaying

Discuss any adjustment to assay data

No adjustments have been applied to assay data,

Location of data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Each drill hole location (easting and northing) was collected by a handheld GPS. Down hole surveys were recorded using an electronic surveying tool which is supported by quality checks that quantify anomalies allowing drillers to record survey data accurately without errors.

Location of data points

Specification of the grid system used.

Data points have been quoted in this Report using the MGA Zone

50 (GDA94) coordinate system.

Location of data points

Quality and adequacy of topographic control.

Level of topographic control offered by the handheld GPS was

considered sufficient for the work undertaken.

Data spacing and

distribution

Data spacing for reporting of Exploration Results.

There was no pre-determined grid space for the program, drill

holes based on specific targeting.

Data spacing and

distribution

Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

The data spacing and distribution is not sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s).

Data spacing and

distribution

Whether sample compositing has been applied.

No sample compositing has been applied.

Orientation of data in relation to geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

While Diamond drill core will provide structural information about

the mineralisation, due to the lack of drilling at the prospect and its early stage nature, unable to comment whether the sampling undertaken to date has achieved an unbiased sampling of possible structures.

Orientation of data in relation to geological structure

If the relationship between the drilling orientation and the

orientation of key mineralised structures is considered to

No orientation based sampling bias has been identified.

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Criteria

JORC Code explanation

Commentary

have introduced a sampling bias, this should be assessed

and reported if material.

Sample security

The measures taken to ensure sample security.

All drill samples were collected by company personnel and stored

in a secure location until completion of the program. Samples were taken to the ALS Laboratory in Perth.

Audits or reviews

The results of any audits or reviews of sampling techniques and data.

All results were reviewed by Company personnel including the

Geology Manager and Managing Director. No negative issues were identified from these reviews.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

The work described in this Report was undertaken on Exploration Licence 51/1040 which is owned by Intermin Resources and in which, Mithril has the right to earn up to a

75% interest by completing $4M expenditure over 6 years

(See ASX Announcement dated 6 December 2013).

Mineral tenement and land tenure status

The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

There are no existing impediments to the tenements.

Exploration done by other parties

Acknowledgment and appraisal of exploration by other parties.

Intermin estimated a 2004 JORC Code Compliant Inferred

Resource for the Nanadie Well Copper Deposit of 36.07Mt @

0.42% Cu in September 2013.

This work followed the completion of various previous RAB, RC and geophysical surveys throughout the area by Intermin and previous exploration companies.

Geology

Deposit type, geological setting and style of mineralisation.

The Nanadie Well Copper Deposit and Stark prospect is interpreted to be an Archaean - age, mafic-hosted magmatic copper-nickel deposit. Disseminated copper (+/- lead, zinc, nickel) sulphide mineralisation occurs within a package of structurally deformed mafic lithologies.

Drill hole

Information

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

easting and northing of the drill hole collar, elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar, dip and azimuth of the hole,

down hole length and interception depth, hole length.

A summary of the Diamond drilling referred to in this Announcement is presented in Tables 1 and 2 of the Report. Also see Figures within this Announcement.

Drill hole

Information

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

No information has been excluded

Data aggregation methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

Length weighted averaging of drill results was applied where an intercept contained internal intervals of varying (non- equal) lengths.

For reporting copper and nickel results, a lower cut-off grade of 0.25% has been applied. No upper cut offs have been applied. No cut-off grades have been applied to reporting of PGE's.

Data aggregation methods

Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

Length weighted averaging of drill results was carried out according to the following formula:

[Sum of (all individual assay values x corresponding individual sample length for selected intersection)] divided by [total length of selected intersection].

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Criteria

JORC Code explanation

Commentary

The assumptions used for any reporting of metal equivalent values should be clearly stated.

No metal equivalents reported

Relationship between mineralisation widths and intercept lengths

These relationships are particularly important in the reporting of Exploration Results.

Widths of mineralisation have not been postulated. All mineralised intervals quoted in this announcement are quoted as downhole widths only.

Relationship between mineralisation widths and intercept lengths

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

While the geometry of the mineralisation is not known, the orientation of the drillholes in relation to the interested geology is shown in the figures in this announcement.

Relationship between mineralisation widths and intercept lengths

If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

The Exploration Results in this Announcement are reported as down hole widths only as true widths are not known.

Diagrams

Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

See Figures including in this announcement.

Balanced reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

All results are reported.

Other substantive exploration data

Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

All relevant data has been included within this Report

Further work

The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step- out drilling).

Further drilling and downhole EM surveying is planned as a further test of the Stark copper - nickel mineralised zone outlined in this Announcement.

Further work

Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

Figures 1 and 2 displays areas of interest within the Nanadie

Well area

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