IODM LIMITED — Interim / Quarterly Report 2015

Jul 9, 2015

ASX release 10 July 2015 ASX: PDM

ABN 28 102 747 133

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QUARTERLY ACTIVITIES REPORT

for the period ending 30th of June 2015

CANINDE GRAPHITE PROJECT (PDM earning 80%)

During the quarter the Company released final assay results from eight NQ diamond drill holes totalling 475.9 linear metres at the Pedra Preta target at the Caninde Graphite project in Ceara State, Brazil (refer ASX release dated 30th April 2015).

Summary of Significant Results

Drill hole CAN-PP-DDH-01-15 reported a high grade intersection of 13.69 metres grading 18.38% Cg from a massive graphite horizon close to the surface level.

The remaining downhole extension of this hole was mineralised throughout the length of the hole with several wide zones associated with disseminated graphite hosted on a biotite leucogneiss host rock, as indicated below;

• 9.73 metres grading 1.03% Cg from 18.02 metres, including 5.23 metres grading 1.44% Cg from 20.35 metres.

2.07 metres grading 4.06% Cg from 31.88 metres.

• 13.65 metres grading 0.58% Cg from 37.15 metres, including 6.05 metres grading 0.64% Cg from 40.25 metres.

• 1.80 metres grading 1.57% Cg from 55.50 metres.

• 3.03 metres grading 1.53% Cg from 63.40 metres, including 1.50 metres grading 2.48% Cg from 63.40 metres.

• 4.50 metres grading 0.62% Cg from 71.01 metres.

• And 7.54 metres grading 0.49% Cg from 92.22 metres.

Drill hole CAN-PP-DDH-02-15 Similar to the first drill hole also intersected high grade mineralisation near to the surface associated with a massive graphite layer and several other mineralised intervals associated with disseminated graphite zones.

• 6.50 metres grading 4.80% Cg from 0.00 metres, including 2.89 metres grading 9.73% Cg from 0.00 metres (massive graphite layer).

Paradigm Metals (ASX:PDM ) - Quarterly Activities Report for the period ending 30th of June 2015

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ASX release 10 July 2015 ASX: PDM

ABN 28 102 747 133

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• 24.21 metres grading 1.76% Cg from 15.50 metres, including 7.50 metres grading 3.08% Cg from 15.50 metres .

• 7.50 metres grading 1.52% Cg from 24.50 metres.

• 6.21 metres grading 1.00% Cg from 33.50 metres.

• 5.34 metres grading 2.94% Cg from 41.00 metres.

• 6.98 metres grading 0.55% Cg from 47.47 metres.

• 10.03 metres grading 1.28% Cg from 64.34 metres, including 4.38 metres grading 2.14% Cg from

• 68.00 metres.

Drill hole CAD-PP-DDH-05-15 intersected several zones of medium grade disseminated graphite, including

• 11.0 metres grading 1.72% Cg from 14.05 metres, including 4.07 metres at 2.89% from 18.50 metres.

Drill hole CAD-PP-DDH-06-15 intersected a zone of medium grade graphite mineralisation at the end of the hole including

• 2.04 metres grading 3.04% Cg from 14.92 metres, including 1.02 metres at 4.06% Cg.

Please refer ASX release dated 30th April 2015 for a full summary of all holes and tables of assay results.

FUTURE EXPLORATION AT CANINDE GRAPHITE PROJECT

During the quarter the Company had planned a ground geophysics survey to identify the extensions of graphite mineralisation at depth and along strike which will assist define subsequent drilling programmes. It is anticipated that this geophysics survey will be completed during the current quarter.

THE LADIES COPPER PROJECT (PDM 100%)

There was no field exploration conducted at the Ladies during the quarter.

The Company is in discussions with several parties interested in the future development of this project.

FROGMORE (PDM 100%)

No work was carried out on EL 6590 during the quarter.

The Company is continuing to seek parties interested in farming in to its remaining non-core base metals and silver project in NSW.

Paradigm Metals (ASX:PDM ) - Quarterly Activities Report for the period ending 30th of June 2015

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ASX release 10 July 2015 ASX: PDM

ABN 28 102 747 133

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FOUR MILE TANK (PDM 100%)

No work was carried out on EPM 18294 during the current quarter.

CORPORATE CAPITAL RAISINGS

On the 17th April 2015 the Company announced that it had raised $205,000 before costs in a Placement to sophisticated and professional investors through the issue of 68,333,330 new shares at $0.003 per share. Lodge Corporate acted as broker to this placement.

On the 22nd May 2015 the Company announced that it had engaged Lodge Corporate to act as lead manager to a non-renounceable rights issue to existing shareholders on a 6 for 7 basis at an issue price of $0.003 per Share (approximately 733,903,149 shares) with a free attaching listed option for every two new shares (exercisable at $0.002 and expiry 31st December 2016) to raise $2,201,709 before costs. The issue closed on the 15th June 2015 and raised $50,137.89 before costs from existing shareholders. The Company’s directors and Lodge Corporate are looking at options to place the shortfall.

The Company looks forward to updating investors on exploration results at the Caninde graphite project when they become available.

Yours sincerely,

Anthony Reilly Chief Executive Officer 10 July 2015

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled and reviewed by Mr Paulo Brito. Mr Brito is a consulting geologist for Paradigm Metals Limited and is a member of AusIMM-The Minerals Institute, as well as a member of Australian Institute of Geoscientists. Mr Brito has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Brito consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Level 1, 330 Churchill Avenue Subiaco WA 6008 Tel: +61 8 9200 4482 Fax: +61 8 9200 4469

Contact : Directors: Anthony Reilly Anthony Reilly Managing Director Nicholas Lindsay info@paradigmmetals.com.au Brian McMaster

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ASX release 10 July 2015 ASX: PDM

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APPENDIX 1 – TENEMENT TABLE

Australia

Australia
Tenement	Project	Holder	Interest atbeginningofquarter	Interestat end ofquarter	Location
EL 6590	Frogmore	Tungsten NSW PtyLtd	100%	100%	Central NSW
EPM 18294	Four Mile Tank	Paradigm Queensland PtyLtd	100%	100%	Queensland
EPM 19016	The Ladies	Paradigm Queensland PtyLtd	100%	100%	Queensland
EPM25366	The Ladies	Paradigm Queensland PtyLtd	100%	100%	Queensland

Brazil

Brazil
Tenement	Project	Holder	Interest atbeginningof quarter	Interestat end ofquarter
800.011/11, 800.012/11,800.013/11, 800.014/11,800.015/11, 800.016/11,800.017/11, 800.018/11,800.019/11, 801.063/10,801.064/10, 800.018/12,800.019/12, 800.662/11,800.663/11, 800.294/12,800.295/12	Caninde	Paradigm Metals Ltd (earning into 80%ownership)	51%1	51%1

Note:

1. The Company’s 51% equity interest in the Caninde Project is subject to the Company making future staged acquisition payments and exploration expenditure obligations as announced in ASX release 4th November 2014.

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ASX release 10 July 2015 ASX: PDM

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APPENDIX 2 – SUMMARY OF PROJECT EXPENDITURE

Project	Quarter Cash Spend $A’000
Frogmore	-
Four Mile Tank	-
The Ladies	-
Caninde (Brazil)	24
Total	24

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