Mth riu explorers conference feb 2013 final

Market Update

David Hutton, Managing Director

13 February 2013

Disclaimer

This presentation has been prepared by Mithril Resources Limited (Mithril). The information contained in this presentation is a professional opinion onlyand is given in good faith. Certain information in this document has been derived from third parties and though Mithril has no reason to believe that it isnot accurate, reliable or complete, it has not been independently audited or verified by Mithril.

Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks andcontingencies, many of which are outside the control of, and may be unknown to, Mithril. In particular, they speak only as of the date of this document,they assume the success of Mithril’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties andrisks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements arebased. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements.

Mithril makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not takeresponsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Mithril and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect orconsequential (and whether or not arising out of the negligence, default or lack of care of Mithril and/or any of its Agents) for any loss or damagesuffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

All amounts in A$ unless stated otherwise.

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr DavidHutton, who is a full-time employee of the Company and a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Hutton has more than fiveyears experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking toqualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves”.

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.

Competent Persons Statement

Who we are.

West Kambalda – new gold resource?

High grade drill intercepts at Spargos Reward Gold Mine

• 14m @ 6.75g/t gold incl. 6m @ 12.67g/t

• 11m @ 3.54g/t gold incl. 2m @ 13.67g/t

Drilling to recommence late February 2013

Eastern Arunta - outstanding copper discovery potential

Multiple priority targets including new Illogwa IOCG

Geophysics and drilling to commence June Qtr. 2013

An Australian resources company exploring for the next generation ofmineral deposits within emerging and proven mineral provinces

Corporate Snapshot (ASX: MTH)

Shares on issue 219.6 million

Options (unlisted) 19.3 million

Cash (at 31 December 2012) $3.14 million

Market Cap $10.98 million (at 5 cents)

Investments 7.68% of Musgrave Minerals (ASX: MGV)

Top 40 hold 44% Minotaur Resources (10%) and Lion Selection Fund (4%)

Board Graham Ascough, David Hutton, Donald Stephens, Derek Carter, Richard Bonython

West Kambalda Project Area

A newly established foothold in the Eastern Goldfields – Australia’s premier gold district

Why West Kambalda Gold?

Weatherproofing

Location

Unloved assets with excellent upside

Walk up targets with high grade potential

Gold price

Last mining

Deep diamond drilling

Near mine drilling

MITHRIL

Spargos Reward Gold Mine -Key Milestones

West Kambalda Project Area (100% + JV)

75kms²

Along strike from high-grade Wattle Dam Gold Mine

Walk up drill targets;

• Spargos Reward Gold Mine

• Lady Allison Gold Deposit (90Koz)

Strategic relationship with a gold miner - KalNorth Gold Mines (ASX: KGM) via Spargoville JV

West Kambalda – geological setting

KAMBALDA

Spargos Reward – 30,000oz

Lady Allison – 90,000oz

Wattle Dam – 250,000oz

Spargos Reward Gold Mine

Discovery - early 1930’s

Mining - 1936 to 1942 and 1989 to 1991

Production (to 120m) ~30,000ozs @ 8g/t

Last drilled - 2009

Spargos Reward Gold Mine – cross section

High grade

Shear hosted mineralisation

Multiple lodes

Spargos Reward Gold Mine – plan

14m @ 6.75g/t gold including 6m @ 12.67g/t gold

50

0 m

etr

es

Main Lode

West Lode

Intercept ≥ 0.5 g/t

Intercept ≥ 1.0 g/t

Spargos Reward Gold Mine – long section

New drill results suggest high-grade shoot to 400 metres vertical, i.e.

• 14m @ 6.75g/t gold incl: 6m @ 12.67g/t gold

• 11m @ 3.54g/t gold incl: 2m @ 13.67g/t gold

Wattle Dam Gold Mine long section (at same scale)

West Kambalda – Next Steps

Infill drilling at Spargos Reward

Initial drill test of new target area – Spargos Reward South

2,600 metres commencing late February 2013

Eastern Arunta Project Area

Local Endowment

Moly Hill Deposit4.7Mt @ 0.22%Mo, 0.28%W

Basil Copper Deposit26.5Mt @ 0.57%Cu, 0.05%Co

Jervois Deposit11.9Mt @ 1.3%Cu, 25.2g/tAg

Greenfields discovery opportunity within a rapidly emerging mineral province

Eastern Arunta Project Area - landholdings

Eastern Arunta Project Area

Plenty Highway

~ 6,000kms² area

100% and JV’s (incl CAZ and MMG)

Gold and base metal prospectivity

Pipeline of quality targets including;

Illogwa IOCG Area

Yambah high-grade copper gold prospects

Next Steps;

Heritage Clearance Surveys

Ground geophysics

RC Drilling

5 c

ms

Illogwa IOCG diamond drill core – Austin prospect

1st Half 2013 Planned Activities

Project Area Activity Feb Mar Apr May Jun

West KambaldaGold

Infill drilling (Spargos Reward)

Drill test Spargos Reward South

Drill Results

East AruntaCopper Gold

Statutory Approvals

Ground Geophysics (*)

Drilling (*)

* Subject to Mithril Board approval

Who we are.

West Kambalda – new gold resource?

High grade drill intercepts at Spargos Reward Gold Mine

• 14m @ 6.75g/t gold incl. 6m @ 12.67g/t

• 11m @ 3.54g/t gold incl. 2m @ 13.67g/t

Drilling to recommence late February 2013

Eastern Arunta - outstanding copper discovery potential

Multiple priority targets including new Illogwa IOCG

Geophysics and drilling to commence June Qtr. 2013

An Australian resources company exploring for the next generation ofmineral deposits within emerging and proven mineral provinces

Resource Inventory

Basil Copper Deposit

JORCCategory

Copper cut off grade (%)

Tonnes (Mt)

Copper (%)

Cobalt (ppm)

Contained copper (tonnes)

Contained cobalt (tonnes)

Inferred 0.3 26.5 0.57 504 151,050 13,356

Inferred 0.1 90.0 0.28 309 252,000 27, 810

JORC Category

Gold cut off grade (g/t)

Tonnes (Mt)

Gold (g/t)Contained gold

(ounces)

Inferred 0.5 2.13 1.3 87,000

Lady Allison Gold Deposit (MTH right to earn up to 80%)

The Lady Allison Gold Deposit is subject to the Spargoville Farm in and Joint Venture where Mithril has the right to earn up to 80% by completing expenditure of $2 million over 4 years

For further information:

David Hutton – Managing Director

[email protected]

08 8378 8200

Mth riu explorers conference feb 2013 final

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