BARYS RESOURCES LIMITED — Share Issue/Capital Change 2016

Feb 28, 2016

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name METALLUM LIMITED

Applicable security for the reorganisation

MNE ORDINARY FULLY PAID MNEAB PERFORMANCE RIGHTS MNEAA OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES Announcement Type Update to previous announcement Date of this announcement Monday February 29, 2016 Reason for the Update Shareholder approval condition was met on 26 February 2016. Refer to below for full details of the announcement Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity METALLUM LIMITED *Registration Number 1.2 Registered Number Type ACN 149230811 *1.3 ASX issuer code MNE *1.4 The announcement is Update/amendment to previous announcement 1.4a Reason for update to a previous announcement Shareholder approval condition was met on 26 February 2016.

1.4b * Date of previous announcement(s) to this update Thursday January 28, 2016

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*1.5 Date of this announcement

Monday February 29, 2016

*1.6 Securities affected by the reorganisation

MNE ORDINARY FULLY PAID MNEAB PERFORMANCE RIGHTS MNEAA OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Part 2 - Approvals

*2.1 Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval

• FIRB approval

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

**Approval/Condition Date for determination Is the date estimated Approval +Security holder Friday February 26, or actual? received/condition approval 2016 Actual met? Yes Comments

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Thursday March 3, 2016

3.2 Date of +security holder meeting

Friday February 26, 2016

3.3 Last day for trading in the pre-re-organised +securities

Monday February 29, 2016

*3.4 Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Tuesday March 1, 2016

3.5 Record date

Thursday March 3, 2016

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3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis Friday March 4, 2016

*3.7 +Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis Thursday March 10, 2016

3.8 Trading starts on a normal T+3 basis

Friday March 11, 2016

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+3 basis

Wednesday March 16, 2016

Part 4 - Reorganisation type and details

*4.1 The reorganisation is

+Security consolidation

*4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

400

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

*4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

*5.1 +Securities on issue before and after the reorganisation

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityMNE DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated851,199,739 2,127,999*ASX +Security Code *ASX +SecurityMNEAB DescriptionPERFORMANCERIGHTSQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Estimated17,400,000 43,500----- End of picture text -----

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	*ASX +Security CodeMNEAA	*ASX +SecurityDescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICES	*ASX +SecurityDescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICES	*ASX +SecurityDescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICES
	Quoted/unquotedUnquoted	Number on issuebefore reorganisation177,388,889	Number on issue afterreorganisation443,472	Estimate/ActualEstimated
*5.2 Exercise price of options*ASX +Security CodeMNEAB*ASX +Security DescriptionPERFORMANCE RIGHTSQuoted/unquotedUnquotedExercise price beforereorganisation0.00000000Exercise price afterreorganisation0.00000000*ASX +Security CodeMNEAA*ASX +Security DescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICESQuoted/unquotedUnquotedExercise price beforereorganisation0.00000000Exercise price afterreorganisation0.00000000Part 6 - Further information6.1 Further information relating to the reorganisation6.2 Additional information for inclusion in the Announcement Summary

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