ASX Release - 19 March 2015
Withdrawal from Spargoville JV
Mithril Resources Ltd (ASX: MTH) wishes to advise that it has withdrawn from the Spargoville Farm-in and Joint
Venture with KalNorth Gold Mines Limited (ASX: KGM - "KalNorth") effective 11 May 2015 ("Effective Date").
The withdrawal ensures that Mithril's future exploration activities remained focussed on the Stark copper-nickel- PGE discovery located 80 kilometres SE of Meekatharra, WA.
Mithril currently has a 20% interest in Spargoville which is located approximately 30 kilometres west of Kambalda, WA and can earn an additional 60% interest by spending a further $1.68M by no later than 17 May 2017 (total expenditure of $2 million over 4 years for an 80% interest).
Mithril has elected to return its 20% interest to KalNorth for no consideration, and from the Effective Date, KalNorth will resume 100% ownership of Spargoville.
ENDS
For Further Information Contact:
Mithril Resources Ltd
David Hutton, Managing Director
[email protected]
58 King William Road
Goodwood, South Australia 5034
ABN: 30 099 883 922
T: (61 8) 8378 8200
F: (61 8) 8378 8299 www.mithrilresources.com.au
About Mithril Resources Ltd:
Mithril Resources Ltd is an Australian exploration company focused on the discovery and development of base metal deposits primarily copper. Mithril is a frontier explorer with a small but highly experienced team based in Adelaide. Combining advanced technology with a proven field‐based approach ensures the bulk of the company's expenses go directly into the ground.
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58 King William Road
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T:
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(61 8) 8378 8200
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ASX Code:
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MTH
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Goodwood, South Australia, 5034
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F:
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(61 8) 8378 8299
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Issued Shares:
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421,043,293
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www.mithrilresources.com.au E: [email protected] Market Capitalisation: $2.53 million