ARIKA RESOURCES LIMITED — Capital/Financing Update 2017

Sep 4, 2017

==> picture [282 x 59] intentionally omitted <==

ASX RELEASE: 5 SEPTEMBER 2017

SHARE PURCHASE PLAN CLOSES OVERSUBSCRIBED

Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to advise that the Share Purchase Plan (SPP) offered to existing shareholders of the Company closed oversubscribed on Friday 1[st] September 2017.

The Company placed a cap of $500,000 on the SPP to complete the targeted $2M capital raising in conjunction with the recent equity placement, comprising a A$1M share placement to sophisticated and professional investors and an equity funded drilling contract up to A$0.5M.

The successful equity placement and SPP ensures Metalicity is now fully funded to complete the Admiral Bay Zinc Project PFS Stage 1. In order to de-risk Admiral Bay, studies have involved resource definition, geotechnical, hydrogeological and ore sorting testwork, while the Company recently commenced a metallurgical testwork program with China Minmetals. Results of PFS Stage 1 are due in the current quarter.

Further, the combined funds will allow Metalicity to complete the due diligence assessment of the Napier Range and Emanuel Range Zinc Projects, where recent field and desktop work identified both high grade and extensive exploration target areas for follow up drilling. Funds will also be used for RC drilling programs on its Kyarra Cobalt Project and Pilgangoora Lithium Projects.

The board will endeavour to accommodate as many of the more than 120 Metalicity shareholders who applied in the SPP allocation. The Company expects to reconcile the applications and finalise the share allocation in the coming days and will provide further updates shortly.

ENQUIRIES

Investors

Media

Matt Gauci Michael Vaughan Managing Director Fivemark Partners +61 8 9324 1053 +61 422 602 720 mgauci@metalicity.com.au michael.vaughan@fivemark.com.au

About Metalicity Limited

Metalicity Limited is an Australian mining exploration company with a primary focus on base metals sector including the development of the world class Admiral Bay Zinc Project, located in the north west of Australia. The company is currently undertaking a Pre-Feasibility study on Admiral Bay. The Company’s secondary focus is the rare metals sector where early stage exploration has commenced on highly prospective lithium and cobalt tenements. The Company is supported by a management team with extensive collective experience in the resources sector and strong shareholder base of institutional and sophisticated investors.

Metalicity Limited ASX Code: MCT ABN: 92 086 839 992

www.metalicity.com.au 6 Outram Street West Perth WA 6005