ARIKA RESOURCES LIMITED — M&A Activity 2022

Aug 11, 2022

Address: 45 Guthrie St Osborne Park, WA, 6017 Postal: PO Box 6731 East Perth, WA, 6892, Australia Phone: 61 8 9221 6813 Fax: 61 8 9221 3091 Email: admin@nexmetals.com

ABN: 63 124 706 449

12 August 2022

The Company Announcements Officer The Australian Securities Exchange Level 40, 152-158 St Georges Terrace Perth WA 6000

The Company hereby announces that as of today 12 August 2022 it has lodged a Second Supplementary Target Statement (“SSTS”).

Furthermore, the Company draws the attention of shareholders to paragraph 2.2 of the SSTS:

• As of 9 August 2022 the market capitalisation of the Company is $10.41M;

• As of 9 August 2022 the market capitalisation of Metalicity Limited (‘ MCT ’) is $10.37M which is less than that of the Company;

• As of 9 August 2022 the value of the offer by MCT for NME is:

  • A 63% discount to the last traded price of the Company shares;

  • And importantly at a 59% discount to the 180 VWAP of $0.035 per company share.

This announcement is approved by the Board.

ENDS.