Mithril Silver And Gold Limited · ASX:MTH
Mithril Silver And Gold — Mithril Resources — Shareholder Meeting (November 2006)
28 slides from Mithril Silver And Gold's shareholder meeting presentation, Nov 15, 2006
Slide 1: A Nickel Sulphide Explorer - 2006 Annual General Meeting
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Slide 2: Exploration Expenditures of $1.98M ($1.03M net to MTH)
Exploration Expenditures of $1.98M ($1.03M net to MTH) Advanced Priority Projects — Increased Drilling in 2007 Extended BHP Billiton Alliance to December 2007 Farm-in/JV on the Silver Swan North Property Consolidate a strategic land holding in the SA Musgraves Farm-out of several non-nickel projects
Slide 3: Shares 35.6M
Shares 35.6M Listed Nov 2002, ASX — MTH Listing Market Cap $3.1M Current Market Cap $10.5M Cash (30/06/06) $4.3M Substantial Shareholders - Minotaur Resources Investments Pty Ltd 22.20% — Consolidated Nickel Pty Ltd 19.99% MITHRILresources
Slide 4: Directors and Chief Geologist
b Sa John Roberts Derek Carter Richard Bonython Graham Ascough (Chairman) (Director) (Director) (Managing Director) hit aie Don Stephens Allan Quadrio Peter Gower Jim McKinnon-Matthews (Director/Secretary) (Director) (Director) (Chief Geologist ) MITHRILresources
Slide 5: Growth through the discovery of nickel-copper sulphide deposits
Growth through the discovery of nickel— copper sulphide deposits — Focus on Greenfield Nickel Sulphide Exploration — Generate New Projects — Advance Priority Projects to the Drill Stage — Partner Projects e lever expenditures ¢ mitigate risk MITHRILresources
Slide 6: Project Generation and Anomaly Definition
PROJECT ) ANOMALY ie | GENERATION Le DEFINITION MITHRIL FUNDS 1 BHP BILLITON: FUNDS $100 - $300k MAY SPEND 5M FOR fn aaa MAJORITY EQUITY PER PROJECT (60-80%) fontaine MITHRIL OPERATES =~ aan --Pipeline of Quality Projects-- * Access to Data * Access to Technology ¢ Levered Funding MITHRILresources
Slide 7: Nickel market supply and demand
2000 2001-2002 2003 2004 2005 2006 Coe Ravensthorpe Voisey’s Bay Lelies Market surpius Brownfield expansions Source : Brook Hunt, USGS, BHPB analysis knowledge far a brighter future MITHRILresources
Slide 8: Magmatic nickel sulphide deposit model
Subvolcanic staging : chambers Upper crustal sediments | Shallow sill and dyke = complex |Mid-crustal magma _ chamber complex Voisey’s Bay Erosional level Magma Plumbing Norilsk erosional level Deposits are associated with mafic-ultramafic rocks Large magmatic complexes Mantle tapping structure(s) S
Slide 9: Project Locations
Project Locations Mithril Funded/Managed @ BHP Billiton Funded/MTH Managed ® 3'¢ Party Funded/Managed :
Slide 10: Project exploration phases 2006-2007
T° Phasé Silver Swan North cc rargenng : ein, momen Drilling Byro JV TT TTT TTY Dominion JV aan F ouunenm? Cooper Hill co omnes © © Mithril (PACE?) Funded Casey ne epee ne ee ens Indiana commence al aa ees Hammer Hill JV momannannaon Sole a wwe Talia Hill (Yerda) sn panaeanas Koonenberry en 8 Ue nn
Slide 11: Joint venture projects phases
; 1s Phase Further Targeting Drilling Drilling Kalli JV a see ee Barton JV SB wD Ceduna JV (Toro Energy) «- zune Ceduna JV (Minotaur JV) == Neutral Junction JV as sD Solid Dashed 2006 2007 tum em eB" Party Funded Mithril has retained the right to explore for and develop nickel deposits on each proje
Slide 12: Project Locations
Project Locations Mithril Funded/Managed @ BHP Billiton Funded/MTH Managed ® 3'¢ Party Funded/Managed :
Slide 13: Silver Swan North SNRC001
SNRCO01 24m semi-massive to massive sulphides Mithril/BHP Billiton Earning 51% Mithril Operates, BHP Billiton Funds 2006 Program -~ 5 RC Holes (1293m) -~ MLEM Completed ~11 RC Holes Planned (2750m) 2m @ 0.79%Ni Silver Swan Operation (Lionore) SNRCO08 5m of 10-40% sulphides with elevated nickel MITHR
Slide 14: Nickel-copper anomalism
Anomalous ickel to 1% Nickel-Copper in Nickel to 1% with elevated MITHRILresources
Slide 15: Byro Station
Byro Station BYRO PROJECT 50km MEEKATHARRA Murchison Shire Office --~ « Project covers cluster of ultramafic bodies with anomalous Ni-Cu & limited drilling = Geoferret EM completed - results negative but potential for a disseminated or deeper mineralization « Mithril may earn 70% Bc. 67m @ 0.33%Ni,
Slide 16: Project Locations
Project Locations Mithril Funded/Managed @ BHP Billiton Funded/MTH Managed ® 3'¢ Party Funded/Managed :
Slide 17: Indiana - Mithril 100%
Indiana - Mithril 100% Total land Package 2019km2 Emerging beit highly prospective for nickel | Plenty: -§ | Highway.) — Hammer Hill JV —- Mithril Earning 70% excluding uranium, REE, diamonds and industrial minerals MITHRELresources
Slide 18: Surface sampling and ground EM
ii i Surface sampling outlines broad zones of Ni-Cu anomalism At Jinka — confirmed association between ultramafics and anomalies Ground EM in progress with a view to delineate drill targets for 2007
Slide 19: Pipeline Gossan
Te Pipeline Gossan Bete Cu O22, 200km East of Alice sue Springs Stream sediment and | mapping program week ee | complete Mafie/UN4 |= Anomalous copper and ° Mi; oe : cars rere zinc values from the pipeline gossan EM surveys are planned on MITHRILresources
Slide 20: Casey Project - Pipeline Gossan
| Casey Project — Pipeline Gossan
Slide 21: Project Locations
Project Locations Mithril Funded/Managed @ BHP Billiton Funded/MTH Managed ® 3'¢ Party Funded/Managed :
Slide 22: Challenge / Aristarchus Prospect
‘Challenge | Mine Site Target: Mafic 5 Uitramafic Bodies Aristarchus Prospect ‘Magmatic Ni-Cu Sulphides oted in drilling Located 740km northwest of Adelaide Numerous mafic-ultramafic bodies identified Tectonically similar to the Thompson Ni Belt Covers 3332 Km? Limited nickel exploration Mithril ear
Slide 23: 2006 Program
2006 Program «= Re-sampled Dominion air core holes (144) = 62 air core holes = EM completed over priority targets 1352 ppm Ni = Six conductors for Low Cu i follow-up oy 0.36% Ni, elevated Ni and Cu in adjacent holes = Proposed for “Alliance JV” funding « Further EM and Drilling planned for 2007 MITH
Slide 24: Nebo/Babel
Nebo/Babel) <— Nebo/Babel South Australia Location Plan 3 HB Mithril 100% Mithril / PMC JV HEB Mithril / Integra vv HB Mithril / Argonaut uv 200 Kilometers Host to Large Mafic Complex = Under-explored « Mithril’s landholding 32,600 km? (~40%) = 2 new JV's in 2006 = Access in 2007(?) SOLEPCES
Slide 25: Barton JV
Barton JV «Image Earning 70% | “Expenditure $.5M Barton JV Oldea Range Jacinth / Ambrosia |] (Iluka Resources) Tripitaka Propsect J (liuka Resources) TT Kalli JV elluka Earning 70% “Expenditure $.5M «Mithril Retains Nickel Rights
Slide 26: Phases 2006-2007 by project
Ist Phase Targeting ' — prilling Further Drilling Solid Dashed 2006 2007 thr Funded Silver Swan North Ts oo a a a Byro JV ‘aera Ss PTT ttt Dominion JV ae : ge oe ot a a Cooper Hill mae Casey eon a Indiana AN wale rT Hammer Hill JV Set = Talia Hill (Yerda) a aa TTT Koonenberry a Coolac I SA MusgraveS
Slide 27: Strong portfolio of quality projects
Strong portfolio of quality projects Aggressive drilling campaign over next 6-12 months Highly leveraged on exploration expenditure Well placed for discovery in strong nickel market MITHRILresources
Slide 28: Wee
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Mithril Resources — Shareholder Meeting (November 2006) on 6ix