FireFly Metals Ltd. — Capital/Financing Update 2019

Oct 13, 2019

ASX Release – 14 October 2019

Significant vanadium-titanium confirmed at Limestone Well

• Maiden RC drill programme by Mithril’s JV partner – Auteco Minerals intersects multiple broad zones of shallow high-grade vanadium-titanium, including;

• 20m @ 0.48% V2O5 & 6.5% TiO2 from 12 metres and 72m @ 0.46% V2O5 & 8.6% TiO2 from 52 metres in LWRC003,

• 12m @ 0.72% V2O5 & 8.5% TiO2 from 12 metres and 24m @ 0.50% V2O5 & 6.2% TiO2 from 48 metres, and 56m @ 0.46% V2O5 & 6.1% TiO2 from 164 metres in LWRC005,

• 20m @ 0.50% V2O5 & 6.5% TiO2 from 64 metres and 116m @ 0.36% V2O5 & 11.0% TiO2 from 104 meters in LWRC006.

• Follow the successful drilling, Auteco has elected to continue funding the JV by completing exploration expenditure of $1.5M by August 2021 to earn an initial 60% interest

Mithril Resources Ltd ( MTH.ASX ) advises that recent drilling at Limestone Well ( located 90 kilometres southeast of Meekatharra, WA – Figure 1 ) has intersected multiple broad zones of shallow high-grade vanadium-titanium mineralisation immediately along strike from the Barrambie Titanium Vanadium Deposit ( 2012 JORC Inferred + Indicated Resource of 280.1Mt @ 9.18%TiO₂ and 0.44%V₂O₅ - Neometals Limited ASX Announcement dated 17 April 2018 ), i.e.;

• 20m @ 0.48% V2O5 & 6.5% TiO2 from 12 metres and 72m @ 0.46% V2O5 & 8.6% TiO2 from 52 metres in LWRC003,

• 12m @ 0.72% V2O5 & 8.5% TiO2 from 12 metres and 24m @ 0.50% V2O5 & 6.2% TiO2 from 48 metres, and 56m @ 0.46% V2O5 & 6.1% TiO2 from 164 metres in LWRC005

• 20m @ 0.50% V2O5 & 6.5% TiO2 from 64 metres and 116m @ 0.36% V2O5 & 11.0% TiO2 from 104 meters in LWRC006.

The drill program (6 Reverse Circulation holes – 1,163 metres) was fully funded and undertaken by Mithril’s joint venture partner at Limestone Well - Auteco Minerals Limited ( AUT.ASX ) who can earn an intial 60% interest in Mithril’s Limestone Well tenements (EL’s 20/846 and 51/1069) by completing exploration expenditure of $1.5M by August 2021 ( Stage One ).

22B Beulah Road Norwood, South Australia, 5067 www.mithrilresources.com.au

ASX Code: MTH Issued Shares: 490,389,211 Page 1 of 3 Market Capitalisation: $2.45 million

T: +61 438 269 089 E: admin@mithrilresources.com.au

At completion of Stage One, Mithril can elect to contribute on a pro-rata basis but if it doesn’t, Auteco can earn a further 20% by completing additional expenditure of $1M by August 2023 (total of $2.5M over 5 years to earn 80%).

The recent drilling was a minimum commitment required under the joint venture and following its success, Auteco has elected to continue to sole fund total expenditure of $1.5M to complete the Stage One earn in.

A copy of Auteco’s ASX Announcement detailing the drill results and all required JORC information is attached to this announcement.

Commenting on the announcement, Mithril’s Managing Director Mr David Hutton said that he was very pleased to see the results of the drilling and the continuation of the joint venture with Auteco.

“We congratulate Auteco on the success of their maiden drill programme and welcome their ongoing funding of exploration at Limestone Well. Auteco’s ongoing involvement validates MIthril’s strategy of introducing exploration partners to advance low priority projects, and ensuring that we remain focussed on the Billy Hills Zinc Project”.

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Figure 1: Limestone Well Joint Venture location plan

22B Beulah Road Norwood, South Australia, 5067 www.mithrilresources.com.au

ASX Code: MTH Issued Shares: 490,389,211 Page 2 of 3 Market Capitalisation: $2.45 million

T: +61 438 269 089 E: admin@mithrilresources.com.au

ENDS

For Further Information Contact:

Mithril Resources Ltd David Hutton, Managing Director admin@mithrilresources.com.au

22B Beulah Road Norwood, South Australia 5067 ABN: 30 099 883 922 T: +61 438 269 089 www.mithrilresources.com.au

About Mithril Resources Ltd:

Mithril Resources Ltd (MTH.ASX) is an Australian resources company whose objective is the creation of shareholder wealth through the discovery of mineral deposits.

The Company’s priority Billy Hills Zinc Project lies adjacent to the previously mined Pillara Zinc Deposit, 25kms east of Fitzroy Crossing in Western Australia.

The Company’ exploration partners are also exploring in the Kalgoorlie and Murchison Districts of Western Australia for economic nickel, gold and vanadium deposits.

In the Murchison, Auteco Minerals (AUT.ASX) is exploring for vanadium on the Mithril’s Limestone Well tenements which lie directly along strike from the Barrambie Titanium – Vanadium Deposit.

Northeast of Kalgoorlie, Great Boulder Resources (GBR.ASX) is exploring for gold and nickel on Mithril’s Lignum Dam tenements which lie adjacent the Silver Swan nickel deposit and the Lindsay’s gold mining centre.

22B Beulah Road Norwood, South Australia, 5067 www.mithrilresources.com.au

ASX Code: MTH Issued Shares: 490,389,211 Page 3 of 3 Market Capitalisation: $2.45 million

T: +61 438 269 089 E: admin@mithrilresources.com.au

ASX ANNOUNCEMENT

14 OCTOBER 2019

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Significant Vanadium-Titanium Target Confirmed at the Limestone Well Project

• Drill Results of up to 1.16% V2O5 & 25.7% TiO2.

• Maiden Drill Program Confirms Mineralisation Open.

• Multiple Broad Zones of Shallow High-Grade vanadium-titanium.

Auteco Minerals Ltd ( “Auteco” or “the Company” ) ( ASX: AUT ) is pleased to announce the results of the maiden drill program conducted at the Limestone Well Project in Western Australia. First pass drilling has defined a major vanadium-titanium target along strike from a significant vanadium deposit.

HIGHLIGHTS

• Maiden reverse circulation drill program confirms continuation of highly prospective stratigraphy that hosts the abutting Neometals Ltd Barrambie vanadium-titanium deposit (280.1 MT at 0.44% V2O5 and 9.18% TiO2)[2] .

• High-grade mineralisation encountered in multiple, shallow, sub-parallel, magnetite rich bodies over 8 km of strike. Significant widths of vanadium-titanium mineralisation with multiple holes collared and finished in mineralisation.

• Drill Intersections Include:

• 20m @ 0.48% V2O5 & 6.5% TiO2 from 12m and a second zone of 72m @ 0.46% V2O5 & 8.6% TiO2 from 52m (including: 16m @ 0.70% V2O5 )

CORPORATE DIRECTORY

Sam Brooks Executive Director

Michael Naylor Non-Executive Director

Ian Gordon Non-Executive Director

Nicholas Katris Company Secretary

CONTACT DETAILS

T: +61 8 9220 9030 E: info@autecominerals.com.au W : www.autecominerals.com.au

Principal and Registered Office Level 3, Suite 3 24 Outram Street

• 12m @ 0.72% V2O5 & 8.5% TiO2 from 12m a second zone of 24m @ 0.50% V2O5 & 6.2% TiO2 from 48m and a third zone to end of hole of 56m @ 0.46% V2O5 & 6.1% TiO2 from 164m

• 20m @ 0.50% V2O5 & 6.5% TiO2 from 64m and a second zone of 116m @ 0.36% V2O5 & 11.0% TiO2 from 104m to end of hole.

• Intercept includes high grade TiO2 zone of 52m @ 17.3% TiO2 from 168m to end of hole.

• The Company is undertaking technical evaluations as to next steps as it moves towards defining the potential size and scale of the Limestone Well Project.

Auteco’s Executive Director, Sam Brooks, Commented:

“The Company is delighted to announce it has identified a significant new, shallow, high-grade, vanadium-titanium discovery that is ideally located only a few kilometres to the North West of Neometals Ltd’s Barrambie vanadium-titanium deposit.

Auteco’s maiden drilling programme has intercepted multiple zones of shallow mineralisation of significant widths & grade and remains open and untested by drilling in all directions. Due to the reconnaissance nature of the drilling many of the holes terminated in high-grade mineralisation indicating mineralised widths are greater than currently known.

We have also over the past few months been evaluating a number of other potential Projects across a range of commodities as we look to grow a portfolio of high-quality assets in Tier 1 jurisdictions . ”

ACN: 110 336 733

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LIMESTONE WELL VANADIUM PROJECT

The project is located 90 kilometres southeast of Meekatharra, in Western Australia. The Project covers the interpreted northern continuation of titanomagnetite bearing gabbroic rocks, along strike from Neometals Ltd Barrambie vanadium-titanium deposit[2] .

Mineralisation at Barrambie is hosted in the Barrambie Intrusion, a layered mafic igneous complex consisting of meta-gabbro with layers of meta-anorthosite. Mineralisation is associated with ilmenite-magnetite rich layers disseminated within the gabbro and or anorthosite.

Neometals recently announced a memorandum of understanding with Chinas IMUMR (Chinese research organisation, the Institute of Multipurpose Utilization of Mineral Resources Chinese Academy of Geological Sciences) to jointly advance the Barrambie Project with the MOU setting out a pathway towards commercial extraction from the deposit (refer ASX announcement for Neometals 4 October 2019).

Auteco is in a Joint Venture with Mithril Resources ( ASX.MTH ) and can earn up to an 80% interest in Mithril’s Limestone Well tenements (Exploration Licences 20/846 and 51/1069) by completing exploration expenditure of $2.5 million over 5 years[1] .

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Figure 1: Location of the Limestone Well Project, situated immediately to the north of the Barrambie vanadiumtitanium deposit.

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MAIDEN LIMESTONE WELL REVERSE CIRCULATION DRILLING PROGRAM CONFIRMS SIGNIFICANT VANADIUM-TITANIUM MINERALISATION AND CONTINUATION OF BARRAMBIE STRATIGRAPHY

Auteco is pleased to announce the results from its recently completed maiden reconnaissance Reverse Circulation drilling campaign at the Limestone Well target. A total of six holes were completed for 1,163m of drilling across a strike length of 8km.

The reconnaissance drilling was designed to test two trends of high-priority magnetic bodies identified from ground magnetic surveys, and coincident with soil anomalism thought to represent the possible continuation of the magnetite rich stratigraphy host to the Barrambie deposit.

Results from the drilling have been very successful with significant widths and grades of magnetite bearing vanadium-titanium mineralisation intercepted from the three holes completed from the western stratigraphic horizon. These three holes completed over the 8km of strike contained mineralisation from the start to the end of hole indicating the width of the mineralised zone exceeds the area tested by the drilling. The results are consistent with the Barrambie deposit mineralisation with the three holes that intercepted the prospective stratigraphy returning the following results:

• 20m @ 0.48% V2O5 & 6.5% TiO2 from 12m and a second zone of 72m @ 0.46% V2O5 & 8.6% TiO2 from 52 m (including: 16m @ 0.70% V2O5 ) in hole LWRC003.

• 12m @ 0.72% V2O5 & 8.5% TiO2 from 12m a second zone of 24m @ 0.50% V2O5 & 6.2% TiO2 from 48m and a third zone to end of hole of 56m @ 0.46% V2O5 & 6.1% TiO2 from 164 m in hole LWRC005.

• 20m @ 0.50% V2O5 & 6.5% TiO2 from 64m and a second zone of 116m @ 0.36% V2O5 & 11.0% TiO2 from 104m to end of hole in LWRC006.

• Includes high-grade TiO2 of 52m @17.3 % TiO2 from 168 to end of hole .

The three eastern holes drilled intersected banded iron formation (BIF) horizons within the north-northwest (NNW) trending Barrambie greenstone belt which explains the magnetic anomaly.

The recent drill program has confirmed significant high-grade vanadium-titanium mineralisation at the project with a total potential strike extent of 8km.

The Company is now undertaking further technical evaluations and will keep the market informed as future programs are developed to define the potential of the mineralisation at Limestone Well.

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Figure 2: Drill hole location map and geological map showing strike extent vanadium-titanium mineralisation zone coincident with magnetic stratigraphy hosted with the Barrambie layered intrusion. Of the six holes completed, three holes defined the mineralised target horizon.MGA94 Zone 51N.

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Figure 3: Interpreted Cross-section showing the recent drill hole LWRC005 with significant vanadium-titanium mineralisation intercepted over broad widths including to the end of hole. The hole assayed 56m @ 0.46 % V2O5 and 6.1% TiO2 from 164m to EOH.

NOTES

1 Auteco has the right to earn a total of 80% in the project comprising of a 60% Project Interest (Earn-in Interest Phase 1) by sole funding total expenditure of $1,500,000 within 3 years and if Mithril Resources Ltd (ASX: MTH) elects not to contribute after the Earn-in Interest Phase 1, then Auteco can earn a further 20% Project Interest (Earn-in Interest Phase 2) by sole funding a further $1,000,000 within 5 years. (refer ASX announcement on 20 August 2018 ASX: AUT – previously Monax Mining Ltd).

2 Neometals Ltd - Barrambie Project - Mineral Resource Update Refer ASX announcement 17 April 2018 https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01971759

ENDS

For further information, please contact:

Sam Brooks

Executive Director Auteco Minerals Ltd E: sbrooks@autecominerals.com.au

ABOUT AUTECO MINERALS LTD

Auteco Minerals Ltd (ASX: AUT) is an emerging mineral exploration company currently exploring the Limestone Well vanadium-titanium Project in Western Australia. The Company is continually evaluating additional projects in Australia and elsewhere for potential joint venture or acquisition.

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COMPETENT PERSON STATEMENTS

The information in this announcement that relates to Exploration Results, Mineral Resources, Ore Reserves or targets is based on information compiled by Ms Leah Moore, who is a Member of the Australasian Institute of Geoscientists. Ms Moore is an employee of the Company and has sufficient experience in the style of mineralisation and type of deposit under consideration and qualifies as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Ms Moore consents to the inclusion of the information in this report in the form and context in which it appears.

APPENDIX A:

Table 1: Significant Intercept table from the Limestone Well Vanadium-Titanium Project – Summary Reverse Circulation Drill Results (all intercepts >0.25%). Drill coordinates are reported in MGA94 Zone 51N.

Hole ID	Collar East	Collar North	Azimuth (o)	Dip (o)	From (m)	To (m)	Intercept (m)	V2O5 (%)	TiO2 (%)
LWRC001	703240	6979247	50	-60	NSR hole not in Barrambie Sequence.
LWRC002	702995	6979699	65	-60	NSR hole not in Barrambie Sequence.
LWRC003	702315	6979451	75	-60	12	32	20	0.48	6.52
LWRC003					52	124	72	0.46	8.63
LWRC003						inc	16	0.7
LWRC003					128	144	16	0.27	11.24
LWRC003					212	220	8	0.39	18.97
LWRC004	702643	6981161	75	-60	NSR hole not in Barrambie Sequence.
LWRC005	701716	6980836	55	-65	4	8	4	0.31	3.07
LWRC005					16	28	12	0.72	8.54
LWRC005					48	72	24	0.50	6.20
LWRC005					84	100	16	0.26	3.34
LWRC005					112	132	20	0.34	4.32
LWRC005					164	220	56	0.46	6.07
LWRC006	700786	6983677	70	-60	56	60	4	0.20	3.02
LWRC006					64	84	20	0.50	6.46
LWRC006						inc	4	1.16
LWRC006					104	220	116	0.36	11.00

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APPENDIX B - JORC Code, 2012 Edition.

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections).

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific	• Recent sampling is by Reverse Circulation (RC) drilling with sample cutting
	specialized industry standard measurement tools appropriate to the minerals	collected at 1m intervals.
	under investigation, such as down hole gamma sondes, or handheld XRF	• 4m composite samples were collected from the 1m cutting samples to obtain
	instruments, etc). These examples should not be taken as limiting the broad	approximately 3kg of sample. Each 1m sample was split initially by a cone splitter
	meaning of sampling.	on the rig, which retained half the sample in green bags, and the remainder was
	• Include reference to measures taken to ensure sample representivity and the	piled onto the cleared ground. Representative cross samples were taken by the
	appropriate calibration of any measurement tools or systems used.	use of a sampling spear. The green bags have been retained for further 1m
	• Aspects of the determination of mineralisation that are Material to the Public	samples.
	Report.	• QAQC samples were inserted into the sample runs with approximately one
	• In cases where ‘industry standard’ work has been done this would be relatively	every 20 samples consisting of a duplicate sample or commercially sourced blank
	simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from	material (barren basalt).
	which 3 kg was pulverized to produce a 30 g charge for fire assay’). In other cases,	• Sample practice is appropriate to the geology and mineralisation of the
	more explanation may be required, such as where there is coarse gold that has	deposit and complies with industry best practice.
	inherent sampling problems. Unusual commodities or mineralisation types (eg
	submarine nodules)maywarrant disclosure of detailed information.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,	• RC Drilling was conducted with a modern truck mounted drill rig utilizing high
	auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube,	pressure and high volume compressed air and a 153mm diameter face sampling
	depth of diamond tails, face-sampling bit or other type, whether core is oriented	percussion hammer. The drilling was completed by an industry recognized quality
	and if so, by what method, etc).	contractor.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and	• RC sample recovery and sample condition (dry, moist or wet) was visually
	results assessed.	logged on the original drill logs and transferred to the digital drillhole database.
	• Measures taken to maximize sample recovery and ensure representative	All of the samples were dry.
	nature of the samples.	• Due to the reconnaissance nature of the drilling there here has been no
	• Whether a relationship exists between sample recovery and grade and	assessment of RC sample recovery and grade.
	whether sample bias may have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	• Whether core and chip samples have been geologically and geotechnically	• All RC samples were geologically logged. Lithology, veining, alteration,
	logged to a level of detail to support appropriate Mineral Resource estimation,	mineralisation and weathering are all recorded in the geology table of the drill
	mining studies and metallurgical studies.	hole database.
	• Whether logging is qualitative or quantitative in nature. Core (or costean,	• Geological logging of RC samples is qualitative and descriptive in nature.
	channel, etc) photography.
	• The total length andpercentage of the relevant intersections logged.

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Criteria	JORC Code explanation	Commentary
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	• RC main samples were sub-sampled on the rig with a cone splitter and
techniques and	• If non-core, whether riffled, tube sampled, rotary split, etc and whether	composited using a spear to produce a 3kg sample representative of a 4m
sample preparation	sampled wet or dry.	interval.
	• For all sample types, the nature, quality and appropriateness of the sample	• Sample size assessment was not conducted but used sampling size typical for
	preparation technique.	WA vanadium-titanium deposits.
	• Quality control procedures adopted for all sub-sampling stages to maximize	• Field duplicate samples were inserted into the sample run approximately
	representivity of samples.	every 40 samples to ensure the representivity of the in-situ sample material.
	• Measures taken to ensure that the sampling is representative of the in-situ
	material collected, including for instance results for field duplicate/second-half
	sampling.
	• Whether sample sizes are appropriate to the grain size of the material being
	sampled.
Quality of assay data	• The nature, quality and appropriateness of the assaying and laboratory	• RC samples were prepared and assayed at NATA accredited Minanalytical
and laboratory tests	procedures used and whether the technique is considered partial or total.	Laboratory Services in Perth.
	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the	• All samples are weighed, dried, coarse crushed and pulverized to a nominal
	parameters used in determining the analysis including instrument make and	85% passing 75 microns (method code SP3000). A 300gm subsample was then
	model, reading times, calibrations factors applied and their derivation, etc.	submitted for multi-element assay by Peroxide Fusion with an ICP-OES finish (Zr
	• Nature of quality control procedures adopted (eg standards, blanks,	crucible, method code FUS20_OES).
	duplicates, external laboratory checks) and whether acceptable levels of accuracy	• In addition to the Company QAQC samples (described earlier) included within
	(i.e. lack of bias) and precision have been established.	the batch the laboratory included its own CRM’s (Certified Reference Materials),
		blanks and duplicates.
Verification of	• The verification of significant intersections by either independent or	• No verification work of the RC drilling results has been carried out by Auteco
sampling and	alternative company personnel.	Minerals to date, but assay results are compatible with the observed mineralogy
assaying	• The use of twinned holes.	recorded in logging.
	• Documentation of primary data, data entry procedures, data verification, data	• Due to the reconnaissance nature of the drilling none of the RC drillholes have
	storage (physical and electronic) protocols.	been twinned holes
	• Discuss any adjustment to assay data.	• All assay data were received in electronic format from Minanalytical, checked,
		verified and merged into the Auteco Drillhole database.
		• Original laboratory data files in CSV and PDF formats are stored together with
		the merged data.
		• V2O5values were obtained from Vanadium assay by applying a stoichiometric
		multiplier of 1.7852. TiO2similarlywith a factor of 1.6681.
Location of data	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole	• All sample points are located with handheld GPS. These positions are
points	surveys), trenches, mine workings and other locations used in Mineral Resource	considered to be within 5 meters accuracy in the horizontal plane and less so in
	estimation.	the vertical.
	• Specification of the grid system used.	• All location data is in UTM grid (MGA94 Zone 50).
	• Qualityand adequacyof topographic control.	• Down hole surveys were bya north seeking gyroscope.

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Criteria	JORC Code explanation	Commentary
Data spacing and	• Data spacing for reporting of Exploration Results.	• Due to the reconnaissance nature of the drilling the hole spacing is highly
distribution	• Whether the data spacing, and distribution is sufficient to establish the degree	variable and of a progressive exploration in nature. Not suitable for mineral
	of geological and grade continuity appropriate for the Mineral Resource and Ore	resource estimation at this time.
	Reserve estimation procedure(s) and classifications applied.
	• Whether sample compositing has been applied.
Orientation of data in	• Whether the orientation of sampling achieves unbiased sampling of possible	• Drill hole orientations were designed as an initial test of geological concepts
relation to geological	structures and the extent to which this is known, considering the deposit type.	and are not necessarily drilled perpendicular to the orientation of the intersected
structure	• If the relationship between the drilling orientation and the orientation of key	mineralisation. However, drilling was typically oriented perpendicular to the
	mineralised structures is considered to have introduced a sampling bias, this	trend of geophysical anomalism and the mapped strike and dip of observed
	should be assessed and reported if material.	mineralisation on surface and elsewhere in the project area.
		• Given the preliminary and exploratory nature of the drilling it is not possible to
		assess if any sample bias has been introduced due to hole orientation at this
		stage.
Sample security	• The measures taken to ensure sample security.	• Samples were secured in closed polyweave sacks for delivery to the
		Minanalytical sample receival yard in Kalgoorlie by Auteco Personnel.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No audits or reviews completed.

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Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement	•	Type, reference name/number, location and ownership including	• The Limestone Well Vanadium-titanium Project consists of two granted exploration
and land tenure	agreements or material issues with third parties such as joint ventures,		licenses E20/846 and E20/1069 held by Minex (West) Pty Ltd. And operated by Auteco
status	partnerships, overriding royalties, native title interests, historical sites,		Minerals Ltd. in a Joint Venture with Mithril Resources and can earn up to an 80% interest
	wilderness or national park and environmental settings.		in Mithril’s Limestone Well tenements (EL’s 20/846 and 51/1069) by completing
	•	The security of the tenure held at the time of reporting along with any	exploration expenditure of $2.5M over 5 years.
	known impediments to obtaining a license to operate in the area.		• There are no known issues affecting the security of title or impediments to operating
			in the	area.
Exploration done by	•	Acknowledgment and appraisal of exploration by other parties.	• Limited previous attention appears to have been paid to base metal exploration in the
other parties			tenement area.
Geology	•	Deposit type, geological setting and style of mineralisation.	• The Limestone Well Project is situated toward the north-western region of the
			Archaean Yilgarn Province and the northern portion of the Barrambie Greenstone Belt in
			the Southern Cross domain of the Youanmi superterrane of Western Australia. Much of
			this area is very poorly exposed with a deep weathering profile, deep paleo drainage or
			thin sheet wash.
			• The project lies within the Barrambie Greenstone Belt, a narrow NNW trending belt
			dominated by the Barrambie Intrusion, a layered mafic igneous complex. Other rock types
			in the	belt include chlorite-quartz-sericite schist, probably derived from sediments of felsic
			volcaniclastics, banded iron formation, banded cherts, metabasalts and minor ultramafic
			rocks.
			• Granitic rocks which flank the belt are strongly foliated near the granite-greenstone
			contact. Minor gold mineralisation occurs at several locations along the Western side of
			the greenstone belt within quartz veins within narrow shear zones trending sub-parallel to
			regional foliation.
			• The Barrambie Greenstone Belt has been extensively folded and faulted with a
			regional NNW trend, bounded by granite to the east and west. The greenstone sequence
			is covered by sheetwash and calcrete. The greenstone sequence includes layered
			gabbro/dolerite, quartz-muscovite schist, BIF, banded chert mafic and ultramafic rocks.
			Granitic rocks flank the sequence to the east and west. The tenement area is dominated
			by the Barrambie Intrusion, a layered mafic igneous complex belonging to the Meeline
			Suite which outcrops in the NE portion of the tenement area. This is a layered mafic
			igneous complex consisting of metagabbro with layers of metapyroxenite,
			metaanortosite and distinctive layers of magnetite. The magnetite is enriched in
			titanium and vanadium. The remainder of the tenement area is dominated by alluvial
			sheet	wash of variable thickness.
			• The style of mineralisation at the Limestone Well Project is Vanadium-titanium-
			magnetite (VTM) mineralisation and from a deposit style is comparable to Australian
			contemporaries namelyWindimurra,Balla Balla and Gabanintha.

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Criteria	JORC Code explanation	Commentary	Commentary
Drill hole Information	• A summary of all information material to the understanding of the	•	Refer to Appendix A for drill hole information for all newly reported drill holes for this
	exploration results including a tabulation of the following information for	JORC 2012 Table 1 and in accordance with ASX listing rule 5.7.2.
	all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in meters)
	of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data aggregation	• In reporting Exploration Results, weighting averaging techniques,	•	All drill hole intersections are reported in Table 1, above a lower cut-off grade of
methods	maximum and/or minimum grade truncations (eg cutting of high grades)	0.25% V2O5, which is considered to be an approximate economic cut-off based on similar
	and cut-off grades are usually Material and should be stated.	deposits. A maximum of 4m internal waste was allowed. A minimum intercept length of 4
	• Where aggregate intercepts incorporate short lengths of high-grade	m	applies to the sampling in the tabulated results presented in the main body of this
	results and longer lengths of low-grade results, the procedure used for	release.
	such aggregation should be stated and some typical examples of such
	aggregations should be shown in detail.	•	Metal equivalent values are not used
	• The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship	• These relationships are particularly important in the reporting of	•	At this reconnaissance stage the geometry of the target vanadium-titanium
between	Exploration Results.	mineralisation is not defined.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole	•	All intersections reported in Table 1 are down hole
widths and intercept	angle is known, its nature should be reported.	•	True widths of mineralisation are not known at this stage
lengths	• If it is not known and only the down hole lengths are reported, there
	should be a clear statement to this effect (eg ‘down hole length, true
	width not known’).
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	•	An exploration plan and section is included in the body of this release as deemed
	intercepts should be included for any significant discovery being reported	appropriate by the competent person.
	These should include, but not be limited to a plan view of drill hole collar
	locations and appropriate sectional views.

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Criteria	JORC Code explanation	Commentary	Commentary
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not	•	Any significant higher-grade zones in historical drilling are listed as included intervals
	practicable, representative reporting of both low and high grades and/or	in	Table 1.
	widths should be practiced to avoid misleading reporting of Exploration	•	All results above 4m at 0.2% V2O5lower cutoff are reported in Table 1
	Results.
Other substantive	• Other exploration data, if meaningful and material, should be	•	Appropriate reconnaissance exploration plans are included in the body of this release.
exploration data	reported including (but not limited to): geological observations;
	geophysical survey results; geochemical survey results; bulk samples – size
	and method of treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics; potential deleterious
	or contaminatingsubstances.
Further work	• The nature and scale of planned further work (e.g. tests for lateral	•	Auteco Minerals intends to conduct follow up RC drilling to ensure continuity of
	extensions or depth extensions or large-scale step-out drilling).	mineralisation within the tenement area and testing for lateral and depth extensions to
	• Diagrams clearly highlighting the areas of possible extensions,	mineralisation as well as assessing further exploration potential.
	including the main geological interpretations and future drilling areas,	•	An appropriate exploration target plan is included in the body of this release.
	provided this information is not commercially sensitive.

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