ECLIPSE METALS LIMITED. - Capital/Financing Update 2015

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www.eclipseuranium.com.au Eclipse Metals Ltd is an Australian exploration company focused on exploring the Northern Territory and Queensland for multi commodity mineralisation. The company has an impressive portfolio of assets prospective for uranium, manganese, gold, iron ore, and base metals. The Company’s mission is to increase Shareholder wealth through capital growth and ultimately, dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to (ASX: EPM) are generate mining or joint venture income.

ASX ANNOUNCEMENT

12[th] January 2015

Australian Securities Exchange Companies Announcements Office ASX Limited Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

COMMENCEMENT OF THIRD PHASE OF EXPLORATION MARY VALLEY MANGANESE PROJECT

The Directors of Eclipse Metals Limited ( “Eclipse Metals” or the “Company” ) (ASX: EPM) are pleased to announce plans to commence a third phase of exploration on the Company’s Mary Valley Manganese Project tenements.

BOARD

Carl Popal Executive Chairman

The Mary Valley tenements are centred about 15km south of the town of Gympie in southeast Queensland, 138km by road north from Brisbane. Gympie is a major regional centre and able to provide services and infrastructure support for exploration and mining activities.

Pedro Kastellorizos Executive Director

Rodney Dale Non-Executive Director

In 2014, fieldwork over the old Amamoor Manganese Mine workings verified that these workings exploited the largest known deposit of manganese mineralisation in the Mary Valley tenements.

COMPANY SECRETARY

Eryn Kestel

REGISTERED OFFICE

Preliminary inspection confirmed that unmined mineralisation is exposed in the walls and floor of the workings. These previously mined ore-zones are remnants of outcropping highgrade pods of manganese mineralisation. The pods are hosted within a manganese-enriched layer of rock which has the potential to contain additional high-grade mineralisation at depth. The first priority of fieldwork at Amamoor is to conduct detailed geological mapping of the old workings and surrounds to clarify orientation of the mineralisation. This will facilitate development of a drilling programme to test manganese mineralisation along strike and at depth below the old workings.

Large piles of crushed rocks within the Amamoor workings, which may be historical stockpiles, will be mapped and sampled to determine size distribution and grade as part of the mapping programme. Such stockpiles may provide an initial source of saleable manganese product.

The second largest production of manganese ore from the Mary Valley field was from the old Upper Kandanga Manganese Mine (also referred to as the Cameron mine) which was last mined in 1966. Field inspection of the workings in 2014 indicated that there is potential to discover significant quantities of economic manganese mineralisation at this prospect and further investigation is warranted.

Historical workings and surrounds of the old Upper Kandanga Mine will be mapped and sampled to better understand this deposit with a view to conducting reconnaissance drilling to follow-on from drilling at Amamoor.

C/-NKH Knight Unit 19 Level 2, Spectrum 100 Railway Road Subiaco WA 6008 Phone: +61 8 9367 8133 Fax: + 61 8 9367 8812

PRINCIPAL PLACE OF BUSINESS

Level 3, 1060 Hay Street West Perth WA 6005 Phone: + 61 8 9480 0420 Fax: + 61 8 9321 0320

AUSTRALIAN BUSINESS NUMBER 85 142 366 541

SHARE REGISTRY

Security Transfer Registrars 770 Canning Highway Applecross WA 6153

ASX CODE EPM