Results of New Drill Holes at Rudnitza

Tethyan Announces Results of New Drill Holes at Rudnitza Copper-Gold Prospect, Serbia

September 14, 2017 – Tethyan Resources PLC (“Tethyan” or the “Company”) (TSX-V:TETH / AIM:TETH) is pleased to announce results of the drilling programme completed in July 2017 at the Rudnitza copper-gold porphyry prospect within the Suva Ruda exploration permit in Serbia. This drill programme consisted of 4 diamond drill holes for a total of 2,127.6 metres.

Highlight intersections from these drill holes include:

  • Drill hole RDD-006 460 m @ 0.21% copper and 0.20 g/t gold from surface (including 20 m @ 1.04 % copper and 0.20 g/t gold from 92 m)
  • Drill hole RDD-005 260 m @ 0.22% copper and 0.20 g/t gold from 6 m (including 12 m @ 0.78% copper and 0.13 g/t gold from 116 m)

Assay results details are provided in Table 1 below:

Drill Hole ID Easting Northing Elevation (m) Dip Azimuth Total Depth (m) From (m) To (m) Length (m) Copper Grade (%) Gold Grade (g/t)
RDD-005 473,890 4,787,657 596 -65 30 535.7 6 266 260 0.22 0.20
including 116 128 12 0.78 0.13
  366 535.7 169.7 0.15
RDD-006 474,020 4,787,640 622 -80 325 500.6 0 460 460 0.21 0.20
including 92 112 20 1.04 0.20
RDD-007 473,816 4,787,670 577 -60 140 611.6 0 572 572 0.11 0.16
including 106 186 80 0.30 0.16
RDD-008 474,039 4,787,804 579.280 479.7 138 479.7 341.7 0.17 0.24

Table 1: Summary of significant drill hole intersections (Coordinates are WGS84 UTM Zone 34).

Fabian Baker, COO of Tethyan, commented:

“We are pleased that further drilling at Rudnitza has confirmed that this is a very extensive mineralised system. These results show good continuity and significantly add to our understanding of the geological setting of the mineralisation. Rudnitza is evidently a large mineralised system with numerous zones as yet undrilled.”

The locations of these drill holes are shown in Figures 1 to 4 and geological sections are shown in Figures 5 to 9 below. The results of these drill holes have expanded the known extent of the Rudnitza porphyry system, and have returned long intervals of porphyry-style stockwork copper mineralisation hosted in multi-phase porphyritic dacite/diorite intrusions. The true widths of the drill intersections cannot be determined with the information available as mineralisation is disseminated throughout this large system.

Tethyan’s geologists, with support from highly experienced consulting geologist Simon Meldrum, are currently interpreting the results and drill core logging with the aim of vectoring towards higher-grade mineralisation in future drilling. At least five phases of porphyry intrusives have been identified in the drill core, each with variable styles of alteration and intensities of mineralisation. It is evident that certain intrusive phases are better mineralised than others. Tethyan’s future exploration and drilling will focus on targeting these higher grade units.

The surface expression of the Rudnitza porphyry system is characterised by coincident copper, gold and molybdenum geochemical soil anomalies which Tethyan has defined over an area of approximately 1,500 m N-S and 600 m E-W as shown in Figures 1 to 3. Drilling to date has been restricted to a small area in the southern end of the anomaly. Tethyan is undertaking a TITAN 24 IP geophysical survey covering the entire anomalous area to focus additional drilling which will include testing of the second strong geochemical anomaly immediately to the north of the current drilling. A summary of all of results of Tethyan’s drilling at Rudnitza to date is provided in Table 2 below.

Drill Hole ID Easting Northing Elevation (m) Dip Azimuth Total Depth (m) From (m) To

(m)

Length (m) Copper Grade (%) Gold Grade (g/t)
RDD-001 473,927 4,787,653 604 -85 136 584.6 0 567 567 0.28 0.45
including 122 158 36 1.22 0.38
RDD-002 474,022 4,787,637 622 -76 165 461.8 6 74 68 0.11 0.23
including 98 320 222 0.24 0.27
354 440 86 0.16 0.30
RDD-003 473,873 4,787,734 581 -60 140 710 42 327 285 0.31 0.33
including 102 118.7 16.7 1.55 0.20
657 695 38 0.14 0.27
RDD-004 474,005 4,787,752 592 -60 210 558.6 48 404 356 0.38 0.31
including 102 132 30 1.45 0.39
476 502 26 0.12 0.19
RDD-005 473,890 4,787,657 596 -65 30 535.7 6 266 260 0.22 0.20
including 116 128 12 0.78 0.13
  366 535.7 169.7 0.15
RDD-006 474,020 4,787,640 622 -80 325 500.6 0 460 460 0.21 0.20
including 92 112 20 1.04 0.20
RDD-007 473,816 4,787,670 577 -60 140 611.6 0 572 572 0.11 0.16
including 106 186 80 0.30 0.16
RDD-008 474,039 4,787,804 579 -60 210 479.7 138 479.7 341.7 0.17 0.24

Table 2: Results of all Tethyan’s drilling at the Rudnitza porphyry to date.

Tethyan is immediately rehabilitating the drilling sites and access roads in accordance with recent warranties which Tethyan made to the local municipality and community, demonstrating the Company’s commitment to sustainable operation.

For further information please contact:

Tethyan Resources PLC +44 1534 881 885
Peter Mullens (CEO) pjm@tethyan-resources.com

Cairn Financial Advisers LLP +44 (0) 207 213 0880
James Caithie / Sandy Jamieson

Qualified person

The technical information in this news release has been reviewed by Tethyan’s Chief Executive Officer, Peter Mullens, FAusIMM, who is a Qualified Person as defined by National Instrument 43-101.

Sampling Methodology

Drilling and sampling procedures were carried out in-line with standard industry best practice. Drill core recoveries averaged in excess of 99%. Samples consisted of two metre composites of half drill core which were delivered to ALS Global in Bor, Serbia. Samples were prepared by drying, crushing to 70% passing 2mm, riffle split to provide a 1 kg sample which is pulverised to better than 85% passing 75 microns. Samples were analysed for gold by 30g fire assay and AAS, and for a 33 multi-element suite by four acid digestion and ICP-AES.

About Tethyan

Tethyan Resources Plc (“Tethyan Resources”) is a gold and base metal mineral exploration company incorporated in England & Wales (company registration number 3781581). Tethyan Resources listed on AIM (TETH.L) in 2004 and commenced trading on the TSX Venture Exchange on September 6, 2017, under the symbol “TETH”.

Tethyan Resources is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralisation and compelling drill targets.

Tethyan emphasises responsible engagement with local communities and stakeholders, and is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

More information can be found on our website: www.tethyan-resources.com. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Forward Looking Statements

This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company’s ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This announcement does not comprise a prospectus or other form of offering document relating to Tethyan Resources plc (“the Company”), and does not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities.

The announcement does not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company.

Figure 1: Drill collars for holes RDD-005 to RDD 008 reported in this press release shown over gold soil sampling results. Note the mineralised system at Rudnitza is large in excess of 1.5 kilometres long and drilling has only occurred over a small part of this system. Geophysics is currently being completed to expand the knowledge of this alteration system and to define further drill targets.

Figure 2: Drill collars for holes RDD-005 to RDD 008 reported in this press release shown over copper soil sampling results.

Figure 3: Drill collars for holes RDD-005 to RDD 008 reported in this press release shown over molybdenum soil sampling results. Molybdenum is often regarded as indicating approximately the centre of porphyry systems.

Figure 4: plan view of the southern porphyry system at Rudnitza showing drill holes traces and results for holes RDD-005 to RDD-008 reported in this press release.

Figure 5: Cross section A

Figure 6: Cross section B

Figure 7: Cross section C.

Figure 8: Cross section D.

Figure 9: Cross section E.