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Mithril Resources Ltd is one of only a handful of companies with exploration access to the South Australia portion of the Musgrave Province and currently holds the largest tenement position in the region. In South Australia, the Musgrave Province lies almost entirely within Anangu Pitjantjatjara Yankunytjara ("APY") Land, where exploration access has been restricted. As such, the area has undergone little or no systematic exploration and has considerable untested mineral prospectivity as it has not been subjected to modern day exploration techniques and concepts.

The centrepiece of Mithril's involvement in the Musgrave Province is the recognition of, and access to, the unexplored potential of the Giles Complex, a 1080Ma aged mafic-ultramafic layered intrusive complex that hosts nickel and copper sulphide deposits in the Western Australia portion of the Province. Mithril has consolidated a tenement package in excess of 34,000km² and has forged a strong relationship with the indigenous authority for the region resulting in access to a vast area of prospective and under-explored terrain.

To date the company has five granted tenements and has completed geological mapping and geochemical sampling, reconnaissance drilling and geophysical programs resulting in the identification of a number of mineral prospects and drill targets:

• At Deering Hill's assays of rock chip samples from outcropping vanadium bearing titaniferous-magnetite identified over an area of 1700m x 300m returned values up to 0.83% vanadium pentoxide (V2O5) and drill testing of this prospect is required

• At Mt Alvey, drilling has confirmed the strike continuity of anomalous platinum-palladium over 1.5km with drilling intersecting up to 17.1m@0.5g/t platinum+paladium (including 8m@0.77g/t) . The prospect remains open in all directions.

• Ground electromagnetic targets have identified two high conductance anomalies associated with interpreted mafic rocks of Giles Complex that may represent nickel sulphide mineralisation. Drill testing is planned.

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