ARIKA RESOURCES LIMITED — Capital/Financing Update 2018

Nov 12, 2018

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ASX RELEASE: 13 NOVEMBER 2018

COPPER EXPLORATION PROJECTS SECURED IN THE PILBARA

• Metalicity completed a regional copper prospectivity study covering the Pilbara Region, WA, including ranking the 30 stratigraphic districts within the Pilbara.

• Metalicity has now secured Exploration License Applications in the Paterson Province of the Pilbara Region, WA, covering a total area of 2,166km[2] that is considered prospective for copper.

• The Desert Queen project covers a total area of 679km[2] in the Paterson, 20km along strike from exploration conducted by Rio Tinto and within an interpreted copper corridor.

• The Mandora Beach project covers a total area of 1,487km[2] in the Paterson, adjoining tenements held by Rio Tinto and FMG and is also located within an interpreted copper corridor.

• The Desert Queen and Mandora Beach projects have not been the subject of modern systematic exploration techniques and are considered prospective for major copper discoveries.

• A program of data compilation and project evaluation from available geological, geochemical, geophysical datasets has commenced to define target areas for future exploration work.

• Metalicity is in the process of selling (via IPO, JV or Trade Sale) its zinc and lithium interests in WA, with completion of these transactions and receipt of staged payments of up to ~A$35M cash/shares potentially commencing in the March Quarter 2019.

Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to report that the Company has generated 2,166 km[2 ] of Exploration License Applications (ELA’s) in the Paterson Province of the Pilbara Region, adjoining Rio Tinto’s Exploration Licenses, and within an interpreted copper corridor, which is host to numerous underexplored copper occurrences and geophysical anomalies.

The project generation builds on a copper prospectivity study completed by Metalicity covering the Pilbara region, including the Paterson Province, aligning with the Company’s strategy to focus on Nickel and Copper exploration, and the Fraser Range and Paterson Province as its preferred geological terrains. The Company has commenced data compilation and project evaluation to ascertain areas of interest within the Desert Queen and Mandora Beach ELA’s for possible future exploration.

Commenting on the new projects, Metalicity Managing Director Matt Gauci said:

“The Paterson ranks highly on our list of prospective geological terrains for the discovery of copper mineralisation in the Pilbara and we are encouraged the by activity of the major companies nearby which supports our prospectivity models. Metalicity retains significant experience exploring the Paterson over the last 20 years and is currently compiling all available geological, geochemical, geophysical datasets to assist guiding future exploration activities.”

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

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

Figure 1: Pilbara Copper Project Location and Tenement Holders

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Source: Metalicity Limited

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Figure 2: Pilbara Copper Project Location and Copper Occurrences

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Source: Metalicity Limited

ENQUIRIES

Investors Australian Investor Relations

Matt Gauci David Tasker Managing Director Chapter One Advisors +61 8 9324 1053 +61 433 112 936 / +61 439 980 359 mgauci@metalicity.com.au dtasker@chapteroneadvisors.com.au

About Metalicity Limited

Metalicity Limited is an Australian mining exploration company with a primary focus on the base metals sector and the exploration for Nickel-Copper in the Fraser Range and Copper in the Pilbara Region, both located in the world first jurisdiction of Western Australia. The Company is well supported by a corporate and technical management team with significant collective experience in the mining exploration sector as well as strategic, private equity, institutional and retail funds as shareholders.

Competent Person Statement

The information in this report that relates to Exploration results is based on information compiled by Mathew Longworth, a Competent Person who is a member of the Australasian Institute Mining and Metallurgy. Mr Longworth is a Director of the Company. Mr Longworth has sufficient experience that is relevant to the style of mineralisation and the type of deposit under consideration and to the type of activity being undertaken 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 Longworth consents to the inclusion in the report of the information in this announcement in the form and context in which it appears.

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