ARIKA RESOURCES LIMITED — Capital/Financing Update 2017

Jul 31, 2017

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ASX RELEASE: 1 AUGUST 2017

LITHIUM DRILLING TO COMMENCE AT PILGANGOORA NORTH

Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to announce that following recent requisite regulatory and native title approvals, the company will shortly commence a maiden drilling program at Pilgangoora North (formerly Lynas Find North), which adjoins the world class Pilgangoora Deposits being developed by Pilbara Minerals Limited and Altura Minerals Limited (Figure 1).

At the Pilgangoora North Project (Figure 2), significant lithium bearing pegmatites (ASX: MCT 20/12/16) have been identified and now mapped during recent field exploration. The extensive pegmatites mapped over the ~10km x 4km project area were commonly observed to be shallowly dipping, stacked, sill-like bodies. The southernmost pegmatites are located 1km along strike to the north from the Lynas Find deposit within the world class Pilgangoora Lithium project, where intersections including 21m at 2.64% Li2O have been recorded (ASX: DKO 3/6/16).

The initial drill program is aimed at testing for mineralized pegmatites extending north into the southern parts of the tenement below the pegmatites already mapped at surface. Previous drilling by Dakota Minerals Limited immediately to the south identified westerly dipping spodumene bearing pegmatites and the Company will test along the trend of a north south trending fault suggested by Dakota to control the location of these mineralized pegmatites (ASX DKO: 5/10/16).

At the Stannum Project, requisite regulatory and native title approvals have been received for a planned second phase drilling program to follow up on the Company’s initial lithium discovery from its first pass drilling program in the December Quarter 2016. The Stannum Project is located only 5km to the southwest of the world class Wodgina Lithium mine, where recent drilling activities intersected up to 135m at 1.9% Li2O (ASX: MIN 17/3/2017). The Company will initially evaluate the maiden drilling program at Pilgangoora North before deciding whether to proceed with the second phase drilling program at Stannum.

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 exploration company with a primary focus on the 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 Pre-Feasibility Study (PFS) on Admiral Bay. The Company’s secondary focus is the lithium and cobalt sector with the addition of several lithium and cobalt projects where early stage exploration has commenced. The Company is supported by a management team with significant collective experience in the resources sector as well as international private equity, institutional and retail funds.

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

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

Figure 1: Pilgangoora-Wodgina Lithium District showing location of Metalicity tenements

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Source: Metalicity

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Figure 2: Pegmatites and pegmatitic granites recently mapped at Pilgangoora North (Lynas Find North), adjoining the Pilgangoora Lithium projects of Pilbara Minerals and Altura.

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Source: Metalicity

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