MOD Resources Ltd. has announced a substantial upgrade to the Ore Reserve within the planned, 100% owned, T3 (Motheo) open pit mine (T3 Copper Project). The T3 Copper Project Feasibility Study, which incorporates this revised Ore Reserve, is nearing completion, is expected to be announced before the end of March 2019 and will provide further detailed information on the T3 Copper Project. The revised Ore Reserve demonstrates both the significant scale of the T3 deposit within the planned open pit and the substantial increase in contained copper and silver, compared with the Pre-Feasibility Study. The open pit is designed to be developed in stages to support a mine life that now extends beyond 11 years. The T3 Ore Reserve was updated as part of the T3 Copper Project FS. The modifying factors supporting the Ore Reserve were developed by experienced Competent Persons ("CP") from a range of disciplines and in accordance with the requirements of the JORC 2012 Code. The T3 open pit Ore Reserve comprises 34.4Mt at 1.0% Cu and 13.2g/t Ag, containing 342.7Kt of copper and 14.6Moz of silver. As a result of the increased drill pattern density (from approximately 100 metre centres to approximately 50 metre centres), the company was successful in increasing copper and silver contained within the Ore Reserve by 61% and 107% respectively. The Ore Reserves were calculated using USD 2.91/lb copper and USD 16.81/oz silver price. MOD continues to progress a planned 60-hole resource infill drilling program within the boundaries of the first two stages of the proposed T3 Copper Project open pit, with the objective of upgrading early production into the higher confidence, JORC compliant Measured Resource category. Assay results for the first 11 infill holes were announced on 12 March 2019, with initial results from several holes intersecting wide intervals of high-grade copper mineralisation. A further revision to the T3 open pit Ore Reserve may be required when all results of the infill drilling program are received. The Ore Reserve estimate uses modifying factors presented in the nearly completed FS which is on schedule for completion by the end of March 2019. The FS team consists of independent external consultants and experienced MOD employees and contractors. The components of the FS yet to be completed are not considered to have a material impact on this Ore Reserve statement. All modifying factors used for the Ore Reserve are within the tolerances expected for a FS.