ARIKA RESOURCES LIMITED — Capital/Financing Update 2021

Jun 21, 2021

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ASX RELEASE: 22 June 2021

$3 million Oversubscribed Placement Completed

Key Highlights

• Completion of $3m strongly supported Placement to existing and new professional and sophisticated investors.

• Maiden initial JORC Resource estimation underway for the Leipold, McTavish and Champion Prospects, which are all situated on mining leases.

Metalicity Limited (ASX:MCT) (“ Metalicity ” or “the Company ”) is pleased to confirm that it has completed the placement of 300,000,000 fully paid ordinary shares (“ Placement Shares ”) to new and existing professional and sophisticated investors as announced on 15 June 2021 (“ Placement ”). The Placement Shares were issued with an issue price of $0.01 per Placement Share, raising $3,000,000 (before costs).

The Placement Shares have been quoted on the ASX today in a single tranche using the Company’s existing placement capacity with 244,651,398 Shares issued under the Company’s ASX LR 7.1 placement capacity and 55,348,602 Shares issued under the Company’s ASX LR 7.1A placement capacity.

Commenting on the Placement, CEO, Mr Barton, said: “We are excited to now be able to continue to advance our Kookynie Gold Project, deliver a maiden initial JORC Resource estimation for the Leipold, McTavish and Champion Prospects and explore other new gold opportunities. The Company’s is well placed to expedite its projects going forward.”

Canaccord Genuity (Australia) Limited (“ Canaccord ”) acted as Lead Manager to the Placement.

The Company advises that the offers made under the Prospectus lodged with ASIC on 17 June 2021 are now closed. The primary purpose of the Prospectus was to remove any trading restrictions that may have attached to the Placement Shares issued under the Placement and to make the offer of the Broker Options to Canaccord (and its nominee) with disclosure. No further securities will be issued under the Prospectus.

Further details relating to the issue of the Placement Shares and Broker Options are set out in the Appendix 3B that the Company released on 15 June 2021 and the Appendix 2A and Appendix 3G released today.

This announcement is approved by the Board of Metalicity Limited.

ENQUIRIES

Justin Barton CEO +61 8 6500 0202 jbarton@metalicity.com.au

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

www.metalicity.com.au Unit B2, 20 Tarlton Crescent Perth Airport WA 6105