I also do go more in depth here ( http://lhorie.github.io/mithril/comparison.html ). TL;DR: The main differences is that Mithril is a lightweight MVC, whereas React is a powerhouse at doing only the "V" part.
There's actually a project that uses React to enable HTML-y Mithril templates here ( https://github.com/insin/msx ), so the two can certainly coexist.
Mithril's light weight is mostly a result of picking a very small set of tools that are simple but useful on their own, but that also happen to come together nicely and that can play ball w/ Javascript's FP capabilities and the JS ecosystem as a whole.
Mithril is also a bit of a experiment in making a framework that gets out of your way - more hacking and less figuring out what is the syntax to do X. If that's your cup of tea, I'd recommend checking out the blog that I just started last week ( http://lhorie.github.io/mithril-blog/ ), where I talk about reusable programming techniques.
[1] http://lhorie.github.io/mithril/comparisons/mithril.renderin... [2] http://lhorie.github.io/mithril/comparisons/react.rendering....