ECLIPSE METALS LIMITED. — Interim / Quarterly Report 2018

Oct 30, 2018

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www.eclipseuranium.com.au Eclipse Metals Ltd is an Australian exploration company focused on exploring the Northern Territory and Queensland for multi commodity mineralisation. The company has an impressive portfolio of assets prospective for gold, manganese, base metals and uranium mineralisation. The Company’s mission is to increase Shareholder wealth through capital growth and ultimately, dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture income.

Activities Report and Appendix 5B for the September 2018 Quarter

HIGHLIGHTS

• Evaluation of trace element analyses indicate pathfinder elements would assist with future geochemical surveys to locate high-grade manganese mineralisation

• 3D gravity interpretation indicates that detailed gravity surveys together with magnetic surveys would greatly assist in determining more precise targets for further drilling

• New manganese mineral, Amamoorite, identified

• Gravity survey of Ngalia Basin EL 24808 uranium prospect planned

BOARD

QUEENSLAND – MARY VALLEY MANGANESE PROJECT

AMAMOOR

As previously reported, Eclipse Metals (ASX EPM) drilled eight diamond core holes at Amamoor for an aggregate of 152.4m. This drilling program was conducted strictly on a reconnaissance basis and the extent of drilling and sample analyses was limited to contain initial costs.

Rodney Dale Non-Executive Chairman

Carl Popal Non-Executive Director

Ibrar Idrees Non-Executive Director

COMPANY SECRETARY

Eryn Kestel

During the Quarter, further geological and sample analytical results from the diamond drilled core together with progressively re-modelled geophysical data has been reassessed to better understand the depositional structure of manganese mineralisation to facilitate design of follow-up exploration.

Multielement sample analyses have identified a suite of elements that can be used to identify prospective lithologies and vector towards mineralised zones. These elements constitute a lithogeochemical tool-box for MnO exploration at Amamoor. This lithogeochemical tool-box contains the following six elements - As, Sb, Sc, Zr, Ti & Hf.

A prospective geochemical footprint at Amamoor would be depleted in Sc, Zr, Hf & Ti and enriched in As, Sb. The application and usefulness of the lithogeochemical tool-box will only be truly understood when there is a larger sample population to work with.

Part of the recent evaluation work included petrographic, scanning electron microscope (SEM) and Xray Defraction (XRD) analysis of selected samples to identify mineral species and compositions. In the course of this work with independent consultants and the CSIRO, a new manganese mineral was identified and named after its location – Amamoorite.

FUTURE EXPLORATION

Evaluation of results from the recent drilling and further geological and geophysical assessment are ongoing. Planning of the next phase of exploration will include further drilling at Amamoor, targeting high grade mineralisation down-dip and along strike from these shallow intersections.

REGISTERED OFFICE

C/-NKH Knight Unit 19 Level 2, Spectrum 100 Railway Road Subiaco WA 6008 Phone: +61 8 9367 8133 Fax: + 61 8 9367 8812

PRINCIPAL PLACE OF BUSINESS

Level 3, 1060 Hay Street West Perth WA 6005 Phone: + 61 8 9480 0420 Fax: + 61 8 9321 0320

AUSTRALIAN BUSINESS NUMBER 85 142 366 541

SHARE REGISTRY

Security Transfer Registrars 770 Canning Highway Applecross WA 6153

ASX CODE EPM

WEBSITE

www.eclipsemetals.com.au

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ECLIPSE METALS LIMITED

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Other manganese prospects will be progressively evaluated. The company is assessing new technology that may be suitable for quick extensional exploration of the manganiferous horizons at depth.

MARY VALLEY TENEMENTS

In the light of recent exploration and reconnaissance evaluation of outlying areas, the Company has relinquished some tenement sections to contain current costs and future commitments.

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Mary Valley Tenement Map (updated)

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www.eclipsemetals.com.au

ECLIPSE METALS LIMITED

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NORTHERN TERRITORY: DEVILS ELBOW- RIO TINTO FARM-IN / JV ELA 27584

The first two years of a farm-in and joint venture arrangement with Eclipse, Rio Tinto Exploration (RTX) has been completed with RTX continuing to pursue an arrangement with the Northern Land Council (NLC). A planned anthropological survey to determine consent and non-consent areas by Traditional Owners has not yet been completed and the Company is pursuing a new arrangement with RTX to facilitate the application procedure.

NORTHERN TERRITORY: OTHER TENEMENTS

No field activity was performed during the quarter.

The company has recently been granted ministerial consent to negotiate with Traditional Owners through the NLC with respect to EL applications 31770-772 at its Liverpool project, surrounding ELA27584, and is progressing its response under Section 41 of the Act.

Further evaluation of historical data on EL24808 in the northern part of Ngalia Basin has indicated that a geophysical gravity survey would progress geological understanding of this prospect. This is now expected to commence in mid-November.

Addendum - ECLIPSE METALS TENEMENT INTERESTS ASX -Listing Rule 5.3.3.

Mining tenements held at the end of the quarter and their locations are listed below. Eight (8) granted graticular (or sub-block) blocks were relinquished during the quarter. No granted tenement interests were earned in or farmed out.

Granted Tenements

Tenement	Project Name	Commodity	Status	State	Holder	%	GraticularBlocks
EL 24808	Bigrlyi	Uranium	Granted	NT	Eclipse Metals Ltd	100	27
EPM 17672	MaryValley	Manganese	Granted	Qld	WallaMinesPtyLtd1	100	15
EPM 17938	Amamoor	Manganese	Granted	Qld	Walla Mines Pty Ltd1	100	4
EPM 25698	WestMaryValley	Manganese	Granted	Qld	EclipseMetalsLtd	100	5

Tenement Applications

Tenement	Project Name	Commodity	Status	State	Holder	%	Graticular
							Blocks
ELA 24623	Eclipse	Uranium	Application	NT	Eclipse Metals Ltd	100	305
ELA 24861	Lake Mackay	Uranium	Application	NT	Eclipse Metals Ltd	100	50
ELA 26487	Yuendi	Cu, Uranium	Application	NT	WhitvistaPtyLtd2	100	320
ELA 27584	Devil’s Elbow	Uranium	Application	NT	North Minerals Pty Ltd3	100	30
ELA 27703	Gumadeer	Uranium	Application	NT	North Minerals Pty Ltd3	100	3
ELA 31065	Liverpool 4	Uranium	Application	NT	Eclipse Metals Ltd	100	68
ELA31499	Ngalia1	Uranium	Application	NT	EclipseMetalsLtd	100	249
ELA 31500	Ngalia 2	Uranium	Application	NT	Eclipse Metals Ltd	100	250
ELA 31501	Ngalia 3	Uranium	Application	NT	Eclipse Metals Ltd	100	250
ELA 31502	Ngalia 4	Uranium	Application	NT	Eclipse Metals Ltd	100	226
ELA31770	Liverpool 2	Uranium	Application	NT	EclipseMetalsLtd	100	50
ELA 31771	Liverpool 1	Uranium	Application	NT	Eclipse Metals Ltd	100	240
ELA 31772	Liverpool 3	Uranium	Application	NT	Eclipse Metals Ltd	100	51

1 Walla Mines Pty Ltd is a subsidiary of Eclipse Metals Ltd

2 Whistvista Pty Ltd is a subsidiary of Eclipse Metals Ltd

3 North Minerals Pty Ltd is a subsidiary of Eclipse Metals Ltd

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www.eclipsemetals.com.au

ECLIPSE METALS LIMITED

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Corporate:

During the quarter, Mr Craig Hall stepped down as non-executive director.

The information in this report that relates to Exploration Results together with any related assessments and interpretations is based on information compiled by Mr Rodney Dale, a Non-Executive Director of Eclipse Metals Limited. Mr Dale is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported 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.

For further information please contact:

Rod Dale – Non- Executive Chairman T: +61 8 9480 0420

Carl Popal - Non-Executive Director T: +61 8 9480 0420

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www.eclipsemetals.com.au