ARIKA RESOURCES LIMITED — Capital/Financing Update 2019

Oct 3, 2019

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ASX RELEASE: 4 October 2019

Placement to a Sophisticated Investor

HIGHLIGHTS

• Placement to a new investor raises $203,063 at $0.006 per share

• Funds will go towards progressing the Kookynie Gold Project in the prolific Eastern Goldfields region

Metalicity Limited (ASX: MCT) (“ MCT ” or “ Company ”) is pleased to announce the Company has received a firm commitment from a new investor for $203,063 outside of the current rights issue.

The Company will issue 33,843,825 new ordinary shares at a price of $0.006 per share. In addition, as part of the Placement, the Company will issue 6,768,765 unlisted options to the investor on the same terms as the current rights issue. The options will be priced at an exercise price of $0.015 and will have an expiry date 12 months from date of issue. The shares and options will be issued within the Company’s existing Listing Rule 7.1 placement capacity.

Metalicity Managing Director & CEO Jason Livingstone said:

“ We are very happy to attract a new investor who participated in this placement taking just under 5% of our current issued share capital. We feel that the support shown for our Kookynie Gold Project is validation that we are in a premier district that holds incredible potential. ”

ENQUIRIES

Investors

Jason Livingstone MD & CEO +61 8 9324 1053 jlivingstone@metalicity.com.au

Investor Relations

David Tasker/ Colin Jacoby Chapter One Advisors +61 433 112 936/ +61 439 980 359 dtasker@chapteroneadvisors.com.au

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

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