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DIATREME RESOURCES LIMITED M&A Activity 2024

Apr 18, 2024

64787_rns_2024-04-18_29dc580b-5fbe-4220-b3c5-68606c5c0774.pdf

M&A Activity

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19 April 2024

TARGET’S STATEMENT TO BE RELEASED NEXT WEEK

TAKE NO ACTION

Metallica Minerals Limited (Metallica or the Company) (ASX: MLM) is pleased to announce that it expects to lodge its target's statement, in response to the takeover bid by Diatreme Resources Limited (Diatreme), toward the end of next week.

The target's statement will include an independent expert report, which will express an opinion on the fairness and reasonableness of the offer by Diatreme. Diatreme's second supplementary bidder's statement, released by Diatreme yesterday, included an updated estimate of mineral resources at Diatreme's Northern Silica Project, which must be considered by the independent expert in the context of arriving at an appropriate valuation of Diatreme's shares.

The board recommends that shareholders TAKE NO ACTION. Metallica's target's statement will set out important information for Metallica shareholders regarding the Offer.

Authorised for ASX release on behalf of the Board of Metallica.

For further information, please contact:

Mr Theo Psaros Executive Chairman +61 (7) 3249 3000

Mr Scott Waddell CFO & Company Secretary +61 (7) 3249 3000