ARIKA RESOURCES LIMITED — Board/Management Information 2019

May 21, 2019

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ASX RELEASE: 22 May 2019

APPOINTMENT OF MANAGING DIRECTOR & EXECUTIVE CHANGES

Metalicity Limited (ASX: MCT) (“ Metalicity ” or the “ Company ”) is pleased to announce a number of appointments and Board changes after completing a review of its Board and Senior Management structure. The appointments come as the Company realigns itself as an explorer and developer of prospective opportunities in the Eastern Goldfields, Paterson Province and Fraser Range in WA.

With effect from 1st July 2019, Mr. Jason Livingstone - currently General Manager of Exploration - will take up the role of Managing Director and Chief Executive Officer. Mr. Livingstone is a graduate of both the WA School of Mines and the Curtin Graduate School of Business. He has over 20 years’ experience, having worked in Australia, Africa, China and Panama in a range of commodities from greenfield exploration through to production environments.

As Managing Director, Mr. Livingstone will be in a very strong position to oversee the Company’s future exploration activities.

Concurrent with Mr. Livingstone’s appointment, there will be some changes to the Board. After nearly six years, Mr. Andrew Daley has decided to relinquish the position of Chairman which will be assumed by Mr. Mat Longworth, effective the 1[st] July 2019. Mr. Daley will remain on the Board as a Non-Executive Director.

Details of Mr. Livingstone’s remuneration are detailed within the Appendix of this announcement.

Mr. Daley commented:

“This is a very exciting time for Metalicity. The Company has been very fortunate in acquiring both some highly prospective new projects in WA and the services of an excellently credentialed new Managing Director. Jason is very well qualified to move into the Managing Director role, his strong exploration background coupled with corporate experience will allow firsthand communication with shareholders on the progress of exploration and attaining the Company’s strategic milestones.

The changes in strategy and projects over the last 6 months have set the Company up to yield great exploration success and move toward production over the coming years.

At the same time the appointment of Mat to the Chairmanship will serve to further support Jason in his new role and the Company’s focus in WA.”

ENQUIRIES

Investors Investor Relations Mat Longworth David Tasker/ Colin Jacoby CEO Chapter One Advisors +61 8 9324 1053 +61 433 112 936/ +61 439 980 359 mlongworth@metalicity.com.au dtasker@chapteroneadvisors.com.au

Appendix: Managing Director Remuneration Details:

Name:	Jason Newton Livingstone
Position:	ManagingDirector
Date Effective:	1st July,2019
Total fixed remuneration inc. statutorysuperannuation:	$230,000
Incentives:	1 million options @ $0.025, 1 million options @ $0.035 & 3million options@ $0.05
Notice Period:	6 months

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