Mithril Resources Ltd. released further results from its Copalquin Gold Silver District, Mexico. The intercepts from the recent deeper drilling on the eastern side of El Refugio show that the vein system is more extensive below the Cometa high-grade area and additional step-out drilling from sections 400 east to section 40 is warranted. The drill holes CDH-101 and CDH-102 have confirmed that mineralization extends at least 160 meters further west from the limit of the resource model and continues to be open along strike.

As was the case with the El Refugio high- grade clavo, deeper drilling is required as we develop our geologic understanding of this western extension of El Refugio. The sample used for the test work is a composite sample from El Refugio crushed drill core. The average grade of the composite is similar to the average grade from the maiden resource estimate.

The calculated composite grade from the flotation test work is 4.52 g/t gold and 124 g/t silver. Flotation test work has been completed using the same reagent scheme determined from the Palmarejo deposit (located in the Sierra Madre Trend and north of the Copalquin District) test work, due to the similarities in geology and mineralogy between Palmarejo and El Refugio at Copalquin. Additionally, gravity concentration test work for gold and silver recovery was completed with 59% gold and 24% silver recovered into a gravity concentrate.

Cyanide leaching test work is currently being conducted on the flotation concentrate and tailings and on the gravity concentrate and tailings. This will give final gold and silver extractions rates for a flotation/cyanide leach flowsheet and a gravity/cyanide leach flowsheet. Results to date indicate that final gold and silver recoveries will be 90-95% using simple and conventional processes greatly enhancing the development opportunity for this first resource area in the Copalquin District.