ARIKA RESOURCES LIMITED — Capital/Financing Update 2017

Aug 8, 2017

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

ASX RELEASE: 9 AUGUST 2017

METALICITY SHARE PURCHASE PLAN

Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to announce a Share Purchase Plan (SPP), providing existing shareholders an opportunity to increase their holdings in the Company as it advances the development of its Admiral Bay Zinc Project, completes Due Diligence on the acquisition of the Lennard Shelf Zinc Project, and undertakes maiden drilling campaigns on its Pilgangoora North Lithium Project and Kyarra Cobalt Project, all located in the premium mining jurisdiction of Western Australia.

SPP Terms

Under the SPP, eligible shareholders will be able to purchase additional shares in Metalicity at an issue price of $0.036 per Share. The issue price represents a 10% discount to the last traded price of $0.04 prior to the announcement date of the offer, and a 10% discount to the average market price of the Company’s shares on ASX during the 5 trading days immediately prior to the announcement date of the Offer.

Shareholders who are recorded on the share register as at 8 August 2017 with a registered address in Australia and / or New Zealand will be eligible to participate in the SPP. Under the SPP each eligible shareholder can apply for up to $15,000 worth of shares free of brokerage and commission.

All new shares issued under the SPP will rank equally with existing ordinary shares of the Company. Full details of the SPP including acceptance forms are expected to be sent to shareholders on or about 14 August 2017. The SPP is expected to close on 31 August 2017 and is not subject to shareholder approval. Metalicity directors have also indicated their intention to participate in the SPP.

Use of Funds

The funds raised under the Plan will be used by the Company for the completion of the Pre-Feasibility Study (PFS) Stage 1 on the Admiral Bay Zinc Project, Due Diligence on the Lennard Shelf Zinc Project where the company recently secured an Option Agreement to acquire 100% of the project, maiden RC drilling program at the Company’s 100% owned Pilgangoora North Lithium Project and a maiden RC drilling program at the Company’s 100% owned Kyarra Cobalt Project.

The Company looks forward to providing further updates on the progress of the projects 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

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

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