T3 Mine ESIA Progresses to Public Review

27 August 2019

MOD Resources Limited

("MOD" or the "Company")

T3 Mine ESIA Progresses to Public Review

MOD Resources Ltd ("the Company or "MOD") (ASX/LSE: MOD) and its 100% owned Botswana subsidiary Tshukudu Metals Botswana Pty Limited (Tshukudu) are pleased to provide an update on the excellent progress made in the permitting process for the proposed T3 Copper Mine.

The Department of Environmental Affairs ("DEA") has now finalised its assessment of the Environmental and Social Impact Assessment ("ESIA") for the proposed T3 open pit mine, concluding that "it has adequately identified and assessed anticipated impacts associated with the proposed activity" and will formally release the ESIA for public review.

The public review comprises a four-week period when comments from parties who may be impacted by the proposed T3 mine can be made to the DEA. Following the review period the ESIA is expected to be approved and Tshukudu should be in a position to apply for a Mining License.

MOD Managing Director, Mr Julian Hanna said "The release of the ESIA for public review is a very important milestone towards being granted a Mining Licence for the proposed T3 Open Pit mine and processing plant. DEA has maintained an open and streamlined review process and the ESIA has received a high level of scrutiny which has involved consultation with many stakeholders in the district. The outcome is a testament to the quality of work that our staff and consultants in Perth and Botswana have produced.

The T3 Copper Mine is expected to be a significant contributor to the local Ghanzi economy for many years, while operating to the highest health, safety and environmental standards. We recognise the importance of a robust consultation and approvals process and our Community Relations team has done an outstanding job in conveying the significant and lasting value that we expect to bring to the region."

Additionally, DEA has provided comments on the Environmental Management Plan ("EMP") for the expansion of the Ghanzi accommodation camp to accommodate T3 construction and operational personnel.

These comments will be addressed by the Company and its environmental consultant Loci Environmental and a revised draft of the EMP will submitted to DEA in the coming weeks. If the EMP is approved, the accommodation camp is expected to be expanded to accommodate up to 400 personnel.

 -ENDS-

For and on behalf of the Board.

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About MOD Resources

MOD Resources Ltd (ASX/LSE: MOD) is a dual listed copper exploration and development company with a dominant land position within the Kalahari Copper Belt in Botswana. The Company is focussed on the 100% MOD owned T3 Copper Project, expected to be a high-margin, low-cost copper mine. In parallel with the development of the T3 Copper Project, MOD is conducting exploration across several priority drill targets and within untested areas including extensive and potentially significant Electromagnetic and Cu-Zn soil anomalies.

MOD has a social licence to operate within Botswana as well as within the host community of Ghanzi. MOD will continue to work collaboratively with Government regulators and members of the Ghanzi District community to ensure that any social investments and developments are targeted to create a positive and lasting legacy.

On 25 June 2019, the Company announced Sandfire Resources NL ("Sandfire") had made an offer to acquire 100% of MOD Resources Limited ("MOD") (ASX/LSE:MOD) by way of a Scheme of Arrangement.

No New Information

The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Forward Looking Statements and Disclaimers

This announcement includes forward-looking statements that are only predictions and are subject to risks, uncertainties and assumptions, which are outside the control of MOD. Actual values, results, interpretations or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements in the announcement as they speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, MOD does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward-looking statement is based. This announcement has been prepared by MOD. The document contains background information about MOD current at the date of this announcement.