BARYS RESOURCES LIMITED — Capital/Financing Update 2015

May 28, 2015

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Disclosure under ASX Listing Rule 7.1A.4(b) and 3.10.5A

ASX ANNOUNCEMENT

29 May 2015

ASX Listing Rule Disclosure

In relation to today’s issue of 171,109,393 fully paid ordinary shares advised in the Appendix 3B released to the ASX on 29 May 2015, and in accordance with ASX Listing Rules 7.1A.4(b) and 3.10.5A the Company makes the following disclosures in respect of the Placement:

• (a) The Company issued a total of 171,109,393 fully paid ordinary shares of which 57,953,307 fully paid ordinary shares were issued under Listing Rule 7.1A and the remaining shares were issued under the Company’s 15% placement capacity under Listing Rule 7.1.

The securities issued under Listing Rule 7.1A resulted in the following dilution to existing holders of ordinary securities:

• (i) Number of fully paid ordinary shares on issue prior to the placement of securities under LR 7.1A was 657,720,991.

• (ii) Number of fully paid ordinary shares on issue following this issue of securities under LR 7.1A was 715,674,298.

• (iii) Percentage of voting dilution following the issue is 8.9%.

• (b) The Company issued shares as a placement to sophisticated and professional investors as this was considered to be the most expedient mechanism for raising funds in a timely manner.

• (c) The Company is grateful for the support of its long-term shareholders and where possible will continue to endeavour to afford those shareholders with opportunities to participate in future capital raisings.

• (d) No underwriting agreements were entered into.

• (e) Merchant Corporate Pty Ltd (“Merchant”) was lead manager to the Placement, and was paid a fee of 6% (excluding GST) on all funds raised under the Placement, comprised of a capital raising fee of 5% (excluding GST) and a management fee of 1% (excluding GST). In addition, and subject to available 15% placement capacity, the Company has agreed to issue Merchant and or its nominee/s, one (1) New Option for every three (3) Placement Shares issued.

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

Zeffron Reeves Phil Retter Managing Director Investor Relations Metallum Limited NWR Communications zreeves@metallum.com.au phil@nwrcommunications.com.au P: + 61 8 9322 4328 P: +61 407 440 882

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. The Company has commenced trucking copper-bearing material from the Panga mine at El Roble for processing at a nearby plant.

Metallum Limited also has an interest in the Comval Copper Project in the Philippines, and its Australian-based 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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