Ann: Duffy Well JV Gold Exploration Update,DRM-MTH.AX, page-2

Duffy Well JV gold exploration update
· Doray Minerals (ASX: DRM) to undertake a high-resolution aeromagnetic survey ahead of RAB /
aircore drilling planned for the September 2016 Quarter
· Two gold targets identified from review of previous exploration activity
· Duffy Well covers the southern end of the Gnaweeda Greenstone Belt where Doray has
intersected 3m @ 10.1g/t gold from 149 metres, 5m @ 17.4g/t gold from 71 metres, and 4m @
17.9g/t gold from 45 metres
· Doray can earn up to 85% by reimbursing Mithril’s tenement acquisition costs and completing​

exploration expenditure of $500,000 over 3 years

Mithril Resources Ltd (“Mithril” – ASX: MTH) is pleased to advise that its exploration partner at the Duffy Well
Gold Project, Doray Minerals Limited (“Doray” – ASX: DRM), will shortly commence a high-resolution
aeromagnetic survey to better define two existing gold targets ahead of RAB / aircore drilling planned for the
September 2016 Quarter.
Duffy Well (EL51/1649) is located 30 kilometres east of Meekatharra WA (Figure 1) and covers the interpreted
southern extension of the Gnaweeda Greenstone Belt where Doray has intersected high-grade gold
mineralisation in RC drilling at the Turnberry Prospect, including 3m @ 10.1g/t gold from 149 metres, 5m @
17.4g/t gold from 71 metres, and 4m @ 17.9g/t gold from 45 metres (Figure 2 and Doray ASX Announcement
dated 11 June 2015).
The two gold targets (Figure 3) have been identified
from a review of previous exploration at Duffy Well
(which comprises reconnaissance RAB and aircore
drill traverses with little or no follow-up) are
characterised by zones of structural complexity with
coincident bedrock gold (+50ppb) and arsenic​

(+100ppm) anomalism within wide-spaced drillholes.

Doray are exploring the project under the terms of a
Farm-in and Exploration Joint Venture Agreement
whereby they are entitled to earn up to an 85%
interest by reimbursing Mithril’s tenement
acquisition costs and completing exploration​

expenditure of $500,000 over 3 years.