ARIKA RESOURCES LIMITED — Capital/Financing Update 2018

Feb 18, 2018

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ASX RELEASE: 19 FEBRUARY 2018

INSTITUTIONAL PLACEMENT SETTLEMENT FOR ZINC DEVELOPMENT

HIGHLIGHTS

• Successful settlement of brokered private placement to raise A$2.3M

• Issue price of A4.5c represents ~30% premium to the closing price of A3.5c on 16 February 2018

• 1 for 2 free attaching option exercisable at A8c with a five-year term

• Proceeds will be used for:

  • Resource and exploration drilling at the Napier Range Zinc Project

  • Pre-Feasibility Studies (PFS) progress at the Admiral Bay Zinc Project

  • Evaluation of a dual listing on the TSX Venture Exchange

• Institutional Placement was co-lead by Echelon Wealth Partners and Paradigm Capital

Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to report that settlement has occurred and funds received from the recent brokered private placement with Australian and international institutional and sophisticated investors (“Private Placement”) co-lead by Echelon Wealth Partners Inc., Paradigm Capital Inc.

The Private Placement comprising 52.53M shares at A4.5c per share, with a 1 for 2 free attaching option exercisable at A8c was strongly supported by key North American institutions.

Metalicity Managing Director Matthew Gauci commented:

“We are pleased to welcome to the register key North American institutional funds as the Company is set to commence drilling and feasibility studies on our 100% owned Napier Range Zinc Project and Admiral Bay Zinc Project. To continue to unlock value for our shareholders we are also evaluating of a TSXV listing and a spin out of our cobalt, lithium and graphite exploration projects.”

ENQUIRIES

Investors Media Matt Gauci David Tasker / Colin Jacoby 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 cjacoby@chapteroneadvisors.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 a pipeline of zinc projects including the high-grade Napier Range Zinc Project and the largescale Admiral Bay Zinc Project, both located in the north west of Australia. The Company’s secondary focus is the lithium and cobalt sector with early stage exploration projects located in existing world class and/or emerging districts for lithium and cobalt. The Company is supported by a management team with significant collective experience in the resources sector as well as 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