ARIKA RESOURCES LIMITED — Capital/Financing Update 2016

Mar 21, 2016

6 Outram Street, West Perth WA 6005 PO Box 1227, West Perth WA 6872 Phone: +61 8 9324 1053 Fax: +61 8 9324 3366

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ASX Code: MCT 22 March 2016

Greenbushes Regional Lithium Project Update

• First pass field work complete at the Greenbushes Regional Lithium Project.

• Rock chip sampling completed and submitted for chemical analysis.

• Radiometric data to be acquired to assess for potassium alteration haloes.

• Further field work planned to focus on pegmatites under lateritic cover.

• Significant landholding of 870 km[2] in the world’s highest grade hard rock lithium district.

Metalicity Limited ( ASX:MCT ) (“ MCT ” or “ Company ”) advises that first pass field work including geological mapping and sampling has been completed at the Greenbushes Regional Lithium Project which covers an area of 870 km[2] , located in the Greenbushes district of WA (Figure 1).

The Greenbushes Regional applications (E70/4809, E70/4816 and E70/4817) are all located within 35 km of the Greenbushes Lithium Deposit (owned by Talison Lithium) where the world’s largest and highest grade deposit of spodumene (hard rock lithium) is being mined, processed and exported via the port of Bunbury, WA.

The Metalicity application areas cover similar regional geological settings to the Greenbushes deposits (Figure 2) and recent field work was aimed at mapping geological structures, taking rock chip samples and identifying outcropping pegmatites, and for planning the following stages and methods of exploration.

Due to the significant lateritic cover in the project areas it was not anticipated that significant outcropping pegmatites would be identified. However, samples of numerous sets of pegmatoidal veins and greisens encountered have been taken and submitted for chemical analysis to ascertain the potential for the area to host lithium mineralisation.

The Company intends to acquire available radiometric data sets to assess the project area for potassium alteration haloes associated with pegmatites, and potentially acquire hyperspectral data over the project areas to assist in defining areas for further detailed exploration programs.

The Company’s initial exploration programs in these new project areas are sufficiently funded with the company’s existing cash in bank and the Company continues to hold discussions with a wide range of potential partners from the company’s recent meetings with the China Battery Association.

Managing Director Matt Gauci Commented:

“Outcropping pegmatites are common in the Pilbara, however due to lateritic cover common to the South West around Greenbushes, exploration requires more systematic work and remote sensing surveys to identify areas for drill testing, clearly given the high grade large tonnage nature of these deposits the reward is high.”

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6 Outram Street, West Perth WA 6005 PO Box 1227, West Perth WA 6872 Phone: +61 8 9324 1053 Fax: +61 8 9324 3366

Figure 1. Location of Metalicity Limited’s Lithium Projects, WA.

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6 Outram Street, West Perth WA 6005 PO Box 1227, West Perth WA 6872 Phone: +61 8 9324 1053 Fax: +61 8 9324 3366

Figure 2. Greenbushes Regional Lithium Project Geology

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6 Outram Street, West Perth WA 6005 PO Box 1227, West Perth WA 6872 Phone: +61 8 9324 1053 Fax: +61 8 9324 3366

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FOR MORE INFORMATION:

Matt Gauci Managing Director T: +61 8 9324 1053

About Metalicity Limited

Metalicity Limited is an Australian mining exploration company with a primary focus on base metals sector and the development of the world class Admiral Bay Zinc Project, located in the north west of Australia. The company is currently undertaking a scoping study on Admiral Bay due to be completed by March 2016. The Company’s secondary focus is the rare metals sector with the recent addition of the Pilgangoora South Lithium Project and the Munglinup North Graphite Project where early stage exploration has commenced. The Company is supported by a management team with more than 200 years collective experience in the resources sector.

Competent Person Statement

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The Information contained in this announcement has been presented in accordance with the JORC Code and references to “Measured, Indicated and Inferred Resources” are to those terms as defined in the JORC Code.

Information in this report relating to Exploration results is based on information compiled by Mr Brendan Borg who is a Member of the Australasian Institute of Mining and Metallurgy and a Principal Consultant with Borg Geoscience Pty Ltd. Mr Borg has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Borg consents to the inclusion of the data in the form and context in which it appears.