Intermin Resources : 20 12 2018 Further Positive Drilling Results From Blister Dam

ASX/Media Release

Dated: 20 December 2018

ASX CODE

FURTHER POSITIVE DRILLING RESULTS FROM BLISTER DAM

IRC

HIGHLIGHTS

SHARE PRICE $0.135

SHARES ON ISSUE 235M

•  Exploration drilling program completed at the 100% owned Blister Dam gold project, 65km northwest of Kalgoorlie-Boulder in the Western Australian goldfields

•  Drilling comprised 56 holes for 6,954m to an average depth of 120m

  OPTIONS (UNLISTED)

  0.5M ($0.25)

•  Positive results obtained at Argo, Atlantic and Loran (Figure 1) with significant intercepts including1:

  PERFORMANCE

  RIGHTS

  •  6m @ 5.97g/t Au from 66m (BDRC18001 - Argo)

    5.9M

  •  12m @ 4.03g/t Au from 16m (4m composite, BDRC18003 - Argo)

    MARKET CAP ~$32M (undiluted)

  •  7m @ 1.54g/t Au from 59m (BDRC18008 - Atlantic)

    BOARD

  •  9m @ 1.56g/t Au from 69m (BDRC18024 - Atlantic)

    Peter Bilbe Chairman

  •  10m @ 1.26g/t Au from 58m (BDRC18026 - Atlantic)

  •  5m @ 1.47g/t Au from 66m (BDRC18010 - Loran)

  Peter Hunt

  Non-Executive Director

•  Geological mapping and sampling of the Chadwin-Loran-Argo area has commenced with a view to improving the local stratigraphy and mineralisation model

  Jon Price

  Managing Director

•  Seven deep RC holes were also drilled as part of the new discovery, EIS co-funding scheme

  MANAGEMENT

•  Follow up drilling planned in the first half of 2019

Grant Haywood Chief Operating Officer

Dave O'Farrell

Exploration Manager

COMPANY SECRETARY

Bianca Taveira

INVESTOR/MEDIA

ENQUIRIES

Jon Price Michael Vaughan

KEY GOLD PROJECTS

Teal

Anthill Blister Dam

Binduli

Goongarrie Lady

Windanya Kanowna North

Yarmany Black Flag

Olympia Lakewood

Figure 1: Blister Dam Project Area, new prospects and underlying geology

VANADIUM PROJECTS

Commenting on Blister Dam results, Intermin Managing Director Mr Jon Price said:

Richmond

WEBSITE

www.intermin.com.au

"These latest drilling results continue to demonstrate the prospectivity of the northern region of the Zuleika shear which remains relatively unexplored in comparison to the southern region which has delivered new open cut and underground discoveries and high margin producing mines. We look forward to building on these encouraging results with follow up drilling planned for 2019."

1 See Table 1 on Page 8, Competent Persons Statements on Page 10 and JORC Tables on Page 13

ACN 007 761 186 ABN 88 007 761 186

Head Office: 163 Stirling Highway Nedlands

Postal: PO Box 1104, Nedlands WA 6909

T: [phone] | F: [phone] | E:[e-mail]| W:www.intermin.com.au

Overview

Intermin Resources Limited (ASX: IRC) ("Intermin" or the "Company") is pleased to announce drilling results from

Intermin's 100% owned Blister Dam Gold project, located on the Zuleika and Kunanalling shear zones 65km northwest of Kalgoorlie-Boulder in Western Australia (Figures 1 and 2).

Figure 2: Intermin's gold project locations, regional geology and surrounding infrastructure

During 2017, 21 targets were identified at Blister Dam. These were based on interpreted structures, geological contacts, historic drilling and geochemical signature. Nine of these targets were drill tested with 46 Reverse Circulation ("RC") holes drilled for 4,120m in 2017 to an average depth of 90m1. Subsequently in 2018, Intermin conducted follow up drilling at the more promising prospects including Atlantic, Argo and Seven Seas. First pass drilling was also conducted at three additional targets including the historical Chadwin workings, Loran and Atlantic South.

An Induced Polarisation ("IP") survey was also completed in 2017 to define several new targets. An Exploration Incentive Scheme (EIS) grant of $60,000 was approved in January 2018. The proposed drill holes targeted several low order conductor anomalies at the Atlantic and Seven Seas areas.

The bulk of the 2018 drilling was directed at the Atlantic prospect and followed up on the 2016 drilling. Significant 2016 results included 2:

•  17m @ 1.01g/t Au from 59m (BDRC1603)

•  4m @ 3.13g/t Au from 80m (BDRC1604)

•  4m @ 1.30g/t Au from 56m (BDRC1602)

In addition, historical drilling had identified broad sequences of low grade, shear hosted mineralisation (0.4-0.9 g/t Au) which was confirmed in the recent drilling including3:

•  56m @ 0.60g/t Au from 54m (BOH 0.57 g/t Au from 109-110m, BDRC18029)

•  53m @ 0.69g/t Au from 60m (BDRC18028)

•  68m @ 0.82g/t Au from 56m (BDRC18008)

Within these low grade zones, there are a number of discrete higher grade shoots. The best of these was BDA153 (14m @ 2.90g/t Au from 62m)3. Historic wide spaced drilling centred on BDA153 returned no significant results to date.

1 as announced to the ASX on 6 February 2018, 2 as announced to the ASX on 1 March 2017 3 see Table 1 on Page 8, Competent Persons Statements on Page 10 and JORC Tables on Page 13

The drill grid was reduced to intercept the cross structure thought responsible for this mineralisation enabling improved modelling of the ore zone (Figure 3). Better results included1:

•  7m @ 1.54g/t Au from 59m & 14m @ 1.09g/t Au from 79m (BDRC18008 - Atlantic)

•  9m @ 1.56g/t Au from 69m (BDRC18024)

•  10m @ 1.26g/t Au from 58m (BDRC18026)

•  1m @ 4.08g/t Au from 54m, 8m @ 1.27g/t Au from 66m & 4m @ 1.16g/t Au from 93m (BDRC18029)

The strike length was also tested by three holes 40-240m along the south eastern strike. Two of the holes recorded anomalous mineralisation including 4m @ 0.62g/t Au from 108m (BDRC18009) and 4m @ 0.88g/t Au from 88m (BDRC18045)1.

Following along the Atlantic/Zuleika trend, another drill hole was targeted into an area 1,100m southeast of the Atlantic prospect. BDRC18047 was drilled to 130m depth and sited behind BDRC17037 (8m @ 0.13g/t Au from 24m, see Figure 1). BDRC17037 appeared to intersect the down strike extension of some quartz veins exposed in a small costean 60m away, one 30cm wide vein assayed 4.75g/t Au. The shallow costeans are dug within the Kurrawang sediments and conglomerates. BDRC18047 recorded several low order, anomalous results, but the most significant was an encouraging 1m @ 9.20 g/t Au from 53m1 within the fresh bedrock. A second proposed hole in this area designed to following up BDRC17035 (1m @ 0.91 g/t Au from 39m) was not able to be drilled due to weather delays. Further drilling in 2019 is planned.

Atlantic is relatively complex mineralisation, with several models being considered. Tertiary lake clays up to 20m depth obscure any outcrops and conceal the mineralisation. Diamond drilling to help delineate the structure and further test for high grade mineralisation is scheduled in 2019.

Figure 3: Atlantic prospect drill summary and cross section location

1 See Table 1 on Page 8, Competent Persons Statements on Page 10 and JORC Tables on Page 13

Figure 4: Atlantic cross section showing large widths of low grade mineralisation with typical higher grade intercepts (see Figure 3 for location)

The second priority target at Blister Dam was Argo. Argo was discovered in 2017 whilst testing some nearby historic holes and soil anomalies. The best first pass results from 2017 included 4m @ 5.03g/t Au from 46m (BDRC17050) and 10m @ 1.02g/t Au from 20m (BDRC17009)1.

Step back drilling on a 20m x 40m pattern discovered that strong mineralisation extends to 70m vertical depth as shown in Figures 5 and 6. Significant results at Argo included2:

•  6m @ 5.97g/t Au from 66m (BDRC18001, visible gold panned)

•  12m @ 4.03g/t Au from 16m (BDRC18003)*

•  8m @ 1.41g/t Au from 8m (BDRC18017)*

•  8m @ 1.05g/t Au from 80m (BDRC18013)*

The strike extent of mineralisation has now increased from 40m to 140m and, potentially, remains open to the northwest. Anomalous, untested soils are noted immediately southeast of Argo. Further drilling, including diamond, is scheduled for Argo in 2019.

Field reconnaissance around the Argo area confirmed the prospectivity of several proposed 2017 targets. These included the historic Chadwin workings and Drabbco/Argosy workings 450m west of Argo. The Drabbco/Argosy workings were briefly tested in 2017 by BDRC17029 (1m @ 2.15 g/t Au) 1. This result was followed up by three additional holes, however no significant mineralisation was intercepted.

1 as announced to the ASX on 6 February 2018 2 see Table 1 on Page 8, Competent Persons Statements on Page 10 and JORC Tables on Page 13, * denotes 4m composites

Figure 5: Argo prospect drill summary and cross section location

Figure 6: Argo cross section BB' (see Figure 5 for location)