1. Managing Directors Presentation20 February 2014

2. Disclaimer This presentation has been prepared by Mithril Resources Limited (Mithril). The information contained in this presentation is a professional opinion only and 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 is not 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 and contingencies, 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 Mithrils strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. 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 take responsibility 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 or consequential (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 damage suffered 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.Competent Persons Statement The information in this report that relates to the Nanadie Well Mineral Resource is based on information compiled by Mr David OFarrell who is a fulltime employee of Intermin Resources Limited and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr OFarrell has more than five years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr OFarrell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr David Hutton, who is a Competent Person, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton is Managing Director and a full-time employee of Mithril Resources Ltd. 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. Page 2 3. Mithril Resources (ASX: MTH) Actively exploring Copper, gold, nickel Strong in-house capabilities Divesting high-risk greenfields projects WA Goldfields focusPage 3 4. Corporate Snapshot Directors OverviewGraham Ascough -Non Executive ChairmanASX CodeMTHDavid Hutton -Managing DirectorShares on issue252.5 millionDonald Stephens -Options (unlisted)19.3 millionNon Executive Director and Company SecretaryMarket Cap$2.5M (at 1.1 cents)Derek Carter -Non Executive DirectorCash (31 Dec 2013)$1.7MRichard Bonython -Non Executive DirectorInvestments$0.8M (9.28 million MGV shares)ManagementEnterprise Value$0Top 40 hold 44%Minotaur Resources - 8.5% ConsMin - 3.2% Lion Selection Fund - 3.1%Trading at cash + investment backingJim McKinnon Matthews - Geology ManagerShareholders Directors and Management 2% Institutions 15% Retail 83%Page 4 5. Latest developments WA Goldfields Meekatharra copper projects West Kambalda nickel anomaliesGreenfields divestment MMG recommits to sole-funding East Arunta nickel search (in two JVs) $1.5M spent to date with additional $2.5M + PFS required for MMG to earn 80%interest (nickel rights only) in Huckitta JV. MMG spending further $5M over 6 years to earn 90% in adjacent Harts Range JV Discussions underway with potential new East Arunta copper exploration partnersPage 5 6. Meekatharra copper Acquired late December 2013 Excellent address Big mineralised systems 700km landholding: Copper Hills JV (Doray) MTH earning up to 80% by spending $1M over 4 yearsPage 6Nanadie Well JV (Intermin) MTH earning up to 75% by spending $4M over 6 years100% - owned applications 7. Meekatharra copper Outcropping copper Multiple targets Limited deep drilling Significant upside Data review underwayPage 7 8. Nanadie Well (Mithril earning 75%) Drill ready targets: Nanadie Well Copper Deposit (36Mt@ 0.4%Cu - 151Kt metal) Untested geophysical (IP) anomaly Historic gold workings (+1oz)Nanadie Well Copper Deposit10 kilometresPage 8 9. Nanadie Well Copper Deposit big upside Big copper system with high grade potential Mafic hosted copper sulphides Nickel, PGEs and LREEs 900m length x 85m (ave) true width From surface to 200m depth Remains open in all directions Never been diamond drilled Confirmation of high-grade zones is prioritySurface Open pit opportunity?Bedrock Page 9 10. Nanadie Well Copper Deposit cross sections100 metres 100 metresPage 10 11. Nanadie Well Copper Deposit high grade? Mafic rocks and structure High grade drill intervals: Yellow (+0.5% copper) Red (+1% copper) Pink (+2.5% copper) New targets500 metresResource outline (0.1% Cu lower cut-off grade) Page 11 12. Nanadie Well Copper Deposit IP targetsNanadie Well Copper DepositUntested IP anomaly200 metre spaced pseudo sections showing chargeability responsePage 12 13. West Kambalda 20 km west of Kambalda 100km landholding: Spargos Reward 100% MTHSpargoville JV (KalNorth Gold) MTH earning 80% by spending $2M over 4 years High-grade gold belt Widgiemooltha nickel deposits Multiple targets: Spargos Reward recent MTH drill results: 8m @ 10.30g/t gold incl. 3m @ 25.73g/t 14m @ 6.75g/t gold incl. 6m @ 12.67g/tPage 13Logans Find new nickel anomalies 14. Logans Find new gold and nickel anomalies Nickel auger anomalies (+1,000ppm Ni)+ 50ppb Au anomaly 4km long gold zone Open along strike 11g/t gold in rock chips Limited drilling:+ 1,000ppm Ni anomaly 6m @ 1.65g/t gold from 30 metres Sand cover masks southern strike extent1 kilometreArea of sand cover Page 14 15. Logans Find northern nickel anomalies +1,000ppm nickel auger anomaly 600m x 250m in area 5,504ppm Ni (max nickel value) withcoincident copper and PGEs High MgO ultramafic400 metres No prior nickel exploration Next steps geological mapping / EM / drill+ 1,000ppm Ni anomalyPage 15 16. Indicative Activities Follow-up West Kambalda nickel March 2014 Quarter East Arunta copper exploration partner June 2014 Quarter Drill Meekatharra copper targets June 2014 Quarter MMG to drill East Arunta nickel targets June 2014 QuarterFinal timing to be confirmed and subject to Board approval Page 16 17. Resource Inventory Nanadie Well Copper Deposit (MTH earning 75%) 2004 JORC Code ClassificationTonnes (Mt)Copper %Gold ppmContained Copper (tonnes)Contained gold (ounces)Inferred36.070.420.064151,50674,233 Refer to Intermin Resources ASX Announcement Initial Resource Estimate for the Nanadie Well Cu-Au Project dated 19 September 2013. The information pertaining to the Nanadie Well Copper Deposit Inferred Resource was prepared and first disclosed by Intermin Resources under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.Page 17 18. For further information: David Hutton Managing Director Email - admin@mithrilresources.com.au Webpage - www.mithrilresources.com.au Phone - 08 8378 8200