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Myanmar Metals Ltd.

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Summary

Project:

Bawdwin

Deposit:China, Meingtha
Location:Myanmar
Commodities:Lead-Zinc-Silver-Copper-Cobalt-Nickel
Date:11/29/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Feasibility Study
Report details:29-11-2018: Myanmar Metals Ltd. announces an Exploration/Drilling Update report for its China, Meingtha deposit at the Bawdwin project. Drilling results incl. 45m @ 6.7% Pb, 5.6% Zn, 133g/t Ag, 0.06% Cu, 247ppm Co, 323ppm Ni from 76.0m. Myanmar Metals Lim
Resources:(Resource, I+I): 81.797Mt @ 4.8% Pb, 2.4% Zn, 0.24% Cu, 119ppm Ag
CP/QP:[Overall Report]: Andrew Ford (Internal)
ABSTRACT:Myanmar Metals Limited (“MYL” or “the Company”) is pleased to announce the Bawdwin Joint Venture (“BJV”) has received further assay results from the ongoing drill program. John Lamb, Chairman and CEO: “Bawdwin’s mineral riches continue to reveal themselves as our programs progress. To date, our resource assessments have focused on the known mining envelope of the China, Meingtha and Shan lodes which were discovered over 100 years ago and have accounted for most of the historical production. Resources from these lodes alone give us a world class high-grade 82 Mt Indicated and Inferred Resource. Using modern technologies and the experience of our technical team we are stepping out into extensions of these known lodes and have recently discovered the western hanging wall lode and now high-grade mineralisation in the faulted zone between the China and Meingtha lodes - thus bridging the gap. These are truly stunning results and will likely have a significant positive impact on the resource assessment and the economics of the China Pit Pre-Feasibility Study, both of which are expected in early 2019.” New assays received from holes drilled, targeting the faulted zone between the China and Meingtha lodes (“Meingtha Gap”), eastern China Lode and southern Shan Lode continue to extend mineralisation outside of the resource model and refine the model’s internal geometry. “Meingtha Gap” During historical underground mining operations development was constrained due to poor ground conditions in the area where the northeast trending Hsenwi Fault displaced the Meingtha Lodes by approximately 250m to the southeast. With no routine underground sampling data available in this area, and no surface drilling for 400m between China and Meingtha lodes, the July 2018 resource model defined this “Meingtha Gap” as waste providing a clear limit to the southeast end of the China starter pit. In August this year it was decided to test this ‘data’ gap with drill pads established on top of Bamboo Hill (Figure 1) which lies immediately southeast of the old China open cut mine. BWRC038, the first hole to be drilled on Bamboo Hill, proved that the Meingtha Gap was purely a gap in drilling data; intersecting 25m at 4.3% Pb, 3.6% Zn and 113g/t Ag (Figure 4). BWRC039 was drilled from the same drill pad but towards the east intersecting weakly mineralised sandstones, and is interpreted to have drilled over the top of the BWRC038 mineralisation. The BWRC038 mineralisation is within the China Pit shell which has to date been designated as waste. BWRC045, extended the mineralisation 50m to the southeast; intersecting 45m at 6.7% Pb, 5.6% Zn and 133 g/t Ag. BWRC041, drilled 60m beneath BWRC045, intersected 20m at 1.9% Pb, 200g/t Ag from 49m, and 16m @ 5% Pb, 1.2% Zn, 113g/t Ag, and 1,459ppm Co from 144m, including 3m at bonanza grades of 18.6% Pb, 4.4% Zn, 465g/t Ag, 1.4% Cu, 6,847ppm Co and 1.6% Ni. In the Meingtha Gap area, the resource model lies between 100- 200m below the existing topographic surface (Figure 3).

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