Mantle Mining : Drill Program - Rose Of Denmark

ASX Release 11 December 2017

DRILL PROGRAM TO COMMENCE AT ROSE OF DENMARK GOLD MINE

Mantle Mining Corporation Limited (ASX: MNM) ('Mantle' or 'the Company') provides the following update:

Highlights

•  Board approves commencement of a diamond drill program following identification of a new geological theory for the structural controls on gold mineralisation

  • o A significant sandstone unit surrounds the dyke (which hosts the gold mineralisation)

    enabling the formation of the dyke bulge

•  This theory has assisted in the identification of planned drill targets and the diamond drill program design

•  Program includes 500m‐600m of drilling (approximately 20 holes) to test the identified targets

CEO Mr Tom de Vries said "Rose of Denmark ('RoD') is an important component of the Company's strategy to ensure future consistent gold production. The RoD ore has been successfully processed in the existing Morning Star processing plant by previous operators adding confidence toward the commerciality of production from RoD.

"This drilling program is aimed at identifying higher grade gold zones which then provides the impetus for drilling at depth and detailed mine planning. Diamond drilling will also further test recent observations of geological controls that drive the location of higher‐grade zones and lead to more accurate timing of possible production from RoD. Further geological information from this diamond drilling will also assist in regional exploration in the immediate area.''

Preparation for Drill Program

As noted in the Company's ASX Release dated 7 December 2017, the Company has completed a detailed data review, geological mapping and sampling program at the Rose of Denmark mine providing an understanding of the controls on mineralisation enabling an effective design of a targeted diamond drilling program that has now been approved by the Board.

The Company's geological team has identified a new theory that an anticlinal fold hinge in a massive sandstone unit has controlled the orientation and location of the dyke bulge (refer Figure 1) and also appears to play a significant role in the localisation of high grade shoots. The potentially dilatant zone above the fold hinge in the massive sandstone has not yet been explored and represents a significant target.

Figure 1 Schematic representation of Rose of Denmark dyke bulge geology

Drilling to commence at Rose of Denmark

This diamond drilling program is designed utilising historic information and observing results of various chip sampling and geological mapping programs undertaken by the Company in recent months.

As shown in Figure 2, approximately 500m‐600m of drilling will be done to test the RoD higher grade dyke sections, comprising approximately 20m in the dyke above the adit and below the dyke for 30m at various orientations. Drill angles are designed to test several orientations of the vein sets, as well as the shoot plunges and shoot widths.

Figure 2 Planned drill holes at RoD ‐ looking East

Conclusion

The Rose of Denmark gold mine represents a second potential source of easily accessible high‐ grade gold ore and an independent source of secondary plant feed for the Morning Star processing plant, which has been shown by prior operators to be capable of processing without modification to the existing plant. A recently refurbished 2.4m by 2.8m wide adit provides access to the mine and is driven on the main gold‐bearing mineralisation.

About Mantle Mining:

Mantle is focused on the return to production of the Morning Star mine ‐ an advanced high‐grade gold project, with significant infrastructure including processing plant, a strategic tenement footprint, and prospectively, well positioned for near‐term trial mining.

In addition, Mantle intends to develop its adjoining tenements in the Walhalla to Jamieson gold district (particularly the prolific Woods Point Dyke Swarm) into low cost high grade gold production projects.

For Further Information:

Tom de Vries

Chief Executive Officer

Mantle Mining Corporation Limitedinfo@mantlemining.com

P: +61 408 453 256