Intermin Resources Limited: Mineral Resources Grow 30% to Over 560,000 Ounces

Perth, Australia - Intermin Resources Ltd. (ASX:IRC) ("Intermin" or the "Company") is pleased to announce an updated Mineral Resource Estimate for the 100% owned Teal gold project area located 11km northwest of Kalgoorlie-Boulder in Western Australia (see Figures 1 and 2 in link below).

HIGHLIGHTS

- Highly successful new discovery and resource expansion drilling campaign completed at the Teal gold project area, 11km north-west of Kalgoorlie-Boulder in the Western Australian goldfields

- In total, 182 RC holes for 23,545m completed with the majority of the drilling focussed on resource growth at Teal, Jacques Find and Peyes Farm(see Note 1 below)

- Independent Mineral Resource now compiled for the Teal Project area and, after depletion from mining Teal Stages 1 and 2, stands at:

o 4.25Mt @ 2.11g/t Au for 289,000 ounces at a 1.0g/t Au lower grade cut-off, up 80%(see Note 2 below)

- Over 85% now in the Indicated Category with mineralisation open in all directions(see Note 2 below)

- Intermin's Total Mineral Resource (after depletion) grows to:

o 8.40Mt @ 2.08g/t Au for 562,000oz at a 1.0g/t Au lower grade cut-off(see Note 2 below)

- Next phase of drilling at Teal planned for the March Quarter 2019

- Mining studies commenced to assess optimal mining and processing pathways for oxide and transitional ore accessible by open cut mining

DRILLING CONTINUES AT INTERMIN'S 100% OWNED KALGOORLIE GOLD PROJECTS

- New discovery and resource expansion drilling (14,000m) continues at the Anthill gold project with further drilling results and an updated Mineral Resource expected in the December Quarter(see Note 2 below)

- Follow up drilling also underway at the Crake prospect, part of the Binduli project area with an additional 3,000m due for completion in the December Quarter(see Note 2 below)

- First pass drilling (3,000m) at Coote, Darter and Honeyeater prospects at Binduli is also planned as part of the Binduli program(see Note 2 below)

- A maiden Mineral Resource for the Crake prospect is expected in the March Quarter 2019(see Note 2 below)

- A 14,000m new discovery program at the Blister Dam project is also planned to commence in the December Quarter

Commenting on the updated resource, Intermin Managing Director Mr Jon Price said:

"The Company commenced the self-funded A$4m, 55,000m drilling program in February this year and it has certainly delivered results. An 80% increase in resources at Teal at a $14/oz discovery cost is not only a testament to quality of the assets but also the exploration team who have worked tirelessly on target generation and project priorities."

"With a significant amount of drilling still ongoing at Anthill, Binduli and Blister Dam, the Company looks forward to releasing further results and resource updates as we move closer to achieving the significant 1 million ounce milestone."

Overview

Since February 2018, the Company has completed 182 angled RC holes for 23,545m to downhole depths of between 60-270m. The drilling comprised infill, lateral and depth extensional and new discovery drilling at the Jacques Find, Peyes Farm, Yolande and Teal prospects. Results were released on the ASX on 18 April, 24 April, 12 June and 1 August 2018.

Significant shallow downhole RC intercepts included(see Note 1 below):

- 10m @ 6.70 g/t Au from 60m (JFRC18048)

- 8m @ 5.70g/t Au from 64m (JFRC18026)

- 8m @ 5.28g/t Au from 64m (JFRC18095)

- 6m @ 6.69g/t Au from 91m (JFRC18042)

- 3m @ 10.28g/t Au from 102m (JFRC18034)

- 13m @ 2.78g/t Au from 90m and 11m @ 2.77g/t Au from 73m (JFRC18049)

- 6m @ 4.72g/t Au from 54m and 6m @ 4.34g/t Au from 42m (JFRC18038)

- 37m @ 2.16g/t Au from 90m and 9m @ 4.45g/t Au from 118m (JFRC18010)

- 7m @ 4.47 g/t Au from 34m and 12m @ 2.33 g/t Au from 105m (JFRC18129)

Significant deeper downhole RC intercepts included(see Note 1 below):

- 8m @ 10.31g/t Au from 123m (JFRC18039)

- 8m @ 5.88g/t Au from 124m (JFRC18136)

- 5m @ 4.49g/t Au from 117m and 7m @ 3.46g/t Au from 90m (JFRC18112)

The new data has been used to compile a detailed independent Mineral Resource Estimate which is compliant with the JORC 2012 Code.

Intermin's updated Teal Project area Mineral Resource (JORC 2012) includes the Teal, Peyes Farm and Jacques Find deposits and shows an 80% increase in ounces compared to the previous Teal Resource(see Note 3 below). The Mineral Resource for Teal has been depleted to take into account the recently completed Teal Stage 1 and 2 open cut developments.

The current Mineral Resource Estimate for Teal now stands at:

- 4.25Mt at 2.11 g/t Au for 289,000 oz (>1.0g/t Au lower grade cut-off with various top cuts applied)(see Note 3 below)

Project Geology

The Teal gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs and porphyry rocks at depth. Mineralisation is strongly influenced by flexures along the northwest-southeast striking Peyes Farm Shear zone which trends parallel to the regional geology. Gold mineralisation is developed in an upper flat lying oxide supergene deposit located between 30-55 metres vertical depth and in primary mineralisation in a sub vertical west and east dipping shear zones. The mineralisation trends NNW over a strike length of approximately 650 metres.

The Jacques Find gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and stratigraphy to the north to northwest striking shear zone which trends parallel to the regional geology. Gold mineralisation is developed in a flat lying oxide supergene deposit located between 35-55 metres vertical depth and in primary mineralisation within a sub vertical shear zones. The mineralisation trends N-NW over a strike length of approximately 800 metres. For the Mineral Resource Estimate, Jacques incorporates the prospects known as Yolande and Teal West.

The Peyes Farm gold deposit, is similar to Teal and comprises a moderately developed supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and contacts. Peyes Farm is located within a north striking shear zone which trends parallel to the regional geology. Gold mineralisation is poorly developed in the flat lying oxide supergene deposit located between 20-40 metres vertical depth. Peyes primary mineralisation dips east at about 60deg. The mineralisation spans approximately 600 metres.

Primary mineralisation at depth exhibits semi-refractory properties and optimal recoveries are achieved through ultra-fine grinding, pressure oxidation or roasting. The shallow oxide supergene mineralisation is similar to the Teal gold mine where recoveries over 94% where achieved.

Next Steps(see Note 4 below)

Given the successful drilling programs to date, further resource extension and new discovery drilling in the Teal Project area is planned to commence in the March Quarter 2019. The drilling will focus on:

- Building additional resources at Teal West and Teal East

- Following up encouraging auger results proximal to the Jacques Find and Peyes South areas

- Diamond drilling beneath deep high grade shoots at Jacques Find and Teal

Mining studies have commenced on the Jacques Find, Peyes Farm and further stages of the Teal project focussed on open pit development for extraction of the oxide and transitional ore as part of the mining production pipeline. In addition, metallurgical test work will continue to determine optimal processing pathways for the primary mineralisation with further discussions to be held with suitable processing plant owners in close proximity.

Notes:

1 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018

2 see Table 1 on Page 4, Competent Persons Statements on Pages 4 and 21, Forward Looking Statement on Page 22 and JORC Tables on Page 23

3 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018, see also JORC Tables on Page 14

4 see Forward Looking and Cautionary Statements on Pages 21 and 22

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3ZV0008B

About Intermin Resources Limited:

Intermin Resources Ltd. (ASX:IRC) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Intermin has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

Source:

Intermin Resources Ltd.

Contact:

Jon Price Managing Director Tel: +61-8-9386-9534 E: jon.price@intermin.com.au Michael Vaughan Media Relations - Fivemark Partners Tel: +61-422-602-720 E: michael.vaughan@fivemark.com.au