ECLIPSE METALS LIMITED. — Interim / Quarterly Report 2018

Jan 30, 2019

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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 December 2018 Quarter

HIGHLIGHTS

• Gravity survey of Ngalia Basin EL 24808 uranium prospect completed

• Analysis of all previous exploration results is ongoing.

• Limited rehabilitation works on Amamoor manganese project

QUEENSLAND - MARY VALLEY MANGANESE PROJECT - AMAMOOR

Analysis of all data from previous exploration is being compiled with a view to planning activities in the next field season in 2019.

BOARD

Limited temporary rehabilitation was carried out to protect the exploration area during the wet season.

Rodney Dale Non-Executive Chairman

NORTHERN TERRITORY: URANIUM TENEMENTS

EL 24808 (Granted) Exploration

On 11 January 2019, the Company announced positive progress on the gravimetric survey that commenced late in 2018 over the 85 km[2] EL24808. This survey has been completed and progressive results are being reviewed. Nearly 1,300 gravity stations were recorded on an initial 400 m x 100 m grid. An area of interest measuring 6 km x 2 km was infilled to 200 m x 100 m spacing.

This survey aims to identify targets for uranium mineralisation, including possible paleochannels, along the northern side of the Ngalia Basin in proximity to identified uranium and vanadium mineralisation within the Bigrlyi Project held by Energy Metals Ltd.

A comprehensive report will be prepared when all results have been received and analysed.

EL Applications

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.

Having completed the first two years of a farm-in and joint venture arrangement on ELA 27584 with Eclipse, during which Rio Tinto Exploration (RTX) continued to pursue an arrangement with the Northern Land Council (NLC), RTX has elected to withdraw from the arrangement. The Company is now planning to pursue negotiations with the Northern Land Council to have this tenement granted in 2019

Carl Popal Non-Executive Director

Ibrar Idrees Non-Executive Director

COMPANY SECRETARY

Eryn Kestel

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

2

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. No granted tenement interests were earned into or farmed out.

Granted Tenements

ProjectName	Commodity	Status	State	Holder	%	GraticularBlocks
BigrlyiMary ValleyAmamoorWest MaryValley	UraniumManganeseManganeseManganese	GrantedGrantedGrantedGranted	NTQldQldQld	Eclipse Metals LtdWalla Mines PtyLtd1Walla Mines PtyLtd1Eclipse Metals Ltd	100100100100	27745

Tenement Applications

Tenement	Project Name	Commodity	Status	State	Holder	%	Graticular
							Blocks
ELA 24623ELA 24861ELA 26487ELA 27584ELA 27703ELA 31065ELA 31499ELA 31500ELA 31501	EclipseLake MackayYuendiDevil’s ElbowGumadeerLiverpool 4Ngalia 1Ngalia 2Ngalia 3	UraniumUraniumCu, UraniumUraniumUraniumUraniumUraniumUraniumUranium	ApplicationApplicationApplicationApplicationApplicationApplicationApplicationApplicationApplication	NTNTNTNTNTNTNTNTNT	Eclipse Metals LtdEclipse Metals LtdWhitvista Pty Ltd2North Minerals PtyLtd3North Minerals PtyLtd3Eclipse Metals LtdEclipse Metals LtdEclipse Metals LtdEclipse Metals Ltd	100100100100100100100100100	3055032030368249250250
ELA 31502	Ngalia 4	Uranium	Application	NT	Eclipse Metals Ltd	100	226
ELA 31770	Liverpool 2	Uranium	Application	NT	Eclipse Metals Ltd	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

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

Non-Executive Director T: +61 8 9480 0420

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www.eclipsemetals.com.au