ARIKA RESOURCES LIMITED — Capital/Financing Update 2020

Feb 9, 2020

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ASX RELEASE: 10 February 2020

Metalicit Sells Lithium Ro alt y y y

Metalicity Limited (ASX:MCT) (“MCT”) is pleased to announce it has entered into a binding sale and purchase agreement to dispose of our 1.0% NSR royalty (the “Royalty”) over three district-scale lithium properties in Western Australia. This Royalty was retained from the sale of the Lithium Tenements to Sociedad Quimica y Minera de Chile (“SQM”), which the Company have now entered into an agreement to sell to SilverStream SEZC, dba Vox Royalty, for A$200,000. Proceeds will be used to continue our development and exploration at the Kookynie Gold Project.

Please refer to ASX Announcement titled “ $1.5M Cash Injection for Paterson Copper Exploration ” dated 20 December 2018 for details around the retained royalty.

About Vox Royalty.

Vox is a mining-focused royalty and streaming company building a portfolio of royalties and streams across a diverse commodity base. They have a basket of royalties covering precious, base, battery & bulk metals. The portfolio consists of >25 royalties and streams globally, with both cash-flowing and longer-term growthoriented assets.

ENQUIRIES

Jason Livingstone MD & CEO +61 8 6500 0202 jlivingstone@metalicity.com.au

Forward Looking Statements

This announcement may contain certain “forward-looking statements” which may not have been based solely on historical facts, but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have reasonable basis. However, forward-looking statements:

(a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

(b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such risks include, without limitation, resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which the Company operates or supplies or sells product to, and governmental regulation and judicial outcomes; and

(c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements.

All forward-looking statements contained in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward-looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forwardlooking statements due to the inherent uncertainty therein.

The Company disclaims any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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

www.metalicity.com.au Level 3, 30 Richardson Street West Perth WA 6005