BARYS RESOURCES LIMITED — Capital/Financing Update 2014

Aug 12, 2014

ASX ANNOUNCEMENT

13 August 2014

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Metallum extends Teutonic option agreement

• Teutonic option agreement extended for a further three years

• Withdrawal from Boorara project

Perth-based copper developer Metallum Ltd (ASX: MNE) is pleased to provide an update on its Australian projects, the Teutonic gold and base metals project ( Teutonic Project ) and the Boorara gold project ( Boorara Project ) in Western Australia.

Background

Prior to ASX listing in July 2011, Metallum entered into agreements to acquire up to 70% of both Projects by meeting certain minimum conditions (refer to Company Prospectus released to the ASX on 13 May 2011).

The Teutonic Project is 30km north of Leonora and is prospective for base metals and gold. The Boorara Project is 14km south-east of Kalgoorlie.

Project Review

Following a review of both Australian project areas and with a continued focus on small-scale copper production at its El Roble Project in Chile, the Company has agreed to extend the option agreement at Teutonic for a further three years. It has elected to withdraw from Boorara.

Pursuant to the Teutonic agreement, the Company will be responsible for all expenditure commitments to keep the tenement in good standing and has a further three years to meet the conditions of the option agreement to acquire up to 70% of the Project. The terms of the agreement remain the same.

For more information visit the Metallum website at www.metallum.com.au or contact:

Zeffron Reeves Robert Gundelach Managing Director Investor Relations Metallum Limited NWR Communications zreeves@metallum.com.au robert@nwrcommunications.com.au P: + 61 8 9322 4328 P: +614 51 896 420

About Metallum Limited

Metallum Limited (ASX: MNE) is an Australian-based company that acquires and develops copper and gold projects around the world with a focus on Chile. The Company has an interest in the highly prospective, high-grade El Roble Copper Project in Region III of Chile, targeting IOCG-style copper and gold mineralisation. The Company is focused on achieving growth and shareholder value through the development of near-term, small-scale mining operations at El Roble which will enable self-funded growth into the future. El Roble is ideally located 25km from the port of Caldera and within 80km of two copper toll treatment plants within the world-class Atacama IOCG region, which has a history of high-grade copper production.

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Metallum Limited also has an interest in the Comval Copper Project in the Philippines, and its Australian project, Teutonic, is prospective for gold and base metals.

Metallum Limited has a strong Board and management team with considerable technical, commercial and corporate experience in the resources sector.

For more information, visit the Metallum Limited website at www.metallum.com.au

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