Murchison district, Western Australia

• The Limestone Well vanadium tenements lie north along strike from the Neometalis-owned Barrambie titanium-vanadium deposit, approximately 90km southeast of Meekatharra
• A Binding Term Sheet was executed in October 2021 for the sale of Mithril Resources’ joint venture interest in the Limestone Well tenements to Auteco
• Upon successful completion of the sale, Mithril will receive a cash payment of A$500,000 and retain a 10% free carried interest in the Limestone Well tenements
• Auteco will have option to purchase Mithril’s 10% free carried interest for a consideration of A$10,000,000
• The Sale Agreement will terminate the Farm-in and Joint Venture Agreement signed 17 August 2018