MACRO METALS LIMITED — Capital/Financing Update 2011

Mar 1, 2011

2 March 2011

The Company Announcements Platform Australian Securities Exchange Level 5 20 Bridge Street SYDNEY NSW 2000

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Energio Limited ABN: 28 001 894 033 21 TEDDINGTON ROAD, BURSWOOD WA 6100 PO BOX 6918 EAST PERTH WA 6892

T: (08) 9468 2333 F: (08) 9355 4580 www.energio.net.au

ASX Announcement

• ENERGIO SECURES OPTION OVER OUTSTANDING 25% INTEREST IN KCM MINING LIMITED

• ENERGIO NOW HAS THE ABILITY TO MOVE TO A 100% INTEREST IN THE NIGERIAN IRON ORE PROJECTS

The board of directors of Energio Limited ( Energio or Company ) is pleased to confirm that the Company has agreed to an option to acquire the remaining 25% of KCM Mining Limited ( KCM Mining ) that is not already owned or under option by KCM Holdings Pty Ltd ( KCMH )**.

As a result, Energio has a right to move to an effective 100% interest in the Nigerian iron ore projects owned by KCM Mining.

In the event that either the call or put option is exercised for Energio to acquire 100% of the shares in KCMH (as announced to ASX on 8 November 2010), Energio will also move to acquire the 25% interest in KCM Mining held by Bedford CP Nominees Pty Ltd ( Bedford ). The consideration for the acquisition is the issue of 146,600,000 fully paid ordinary shares in the Company to Bedford (in the event that the Company raises $12,000,000 or more in equity funds prior to settlement not including the $1,000,000 placement referred to above) or otherwise 215,830,000 fully paid ordinary shares in the Company (in each case pre any consolidation of the Company’s issued capital that will be required in order to re-comply with Chapters 1 and 2 of the ASX Listing Rules).

The deal terms are more favourable to the Company than those agreed with TGP Australia Ltd ( TGP ), to reflect the fact that TGP has paid considerable sums of money to advance the projects, without any significant contributions from Bedford to date.

Executive Chairman, Nathan Taylor, said “This further option over 25% of KCM Mining is of significant benefit to Energio. It will mean that the Company can move to 100% effective ownership of the Nigerian iron ore projects and we will therefore be able to control our own destiny.”

Energio’s technical due diligence is ongoing on the Nigerian iron ore projects and is expected to be completed in the coming months.

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** KCMH owns 70% of the shares in KCM Mining and has a right to acquire a further 5% shareholding in KCM Mining (bringing its effective interest in the licences up to 75%) in return for making a cash payment of US$618,000 (US$206,000 of which has already been paid) to the holders of the 5% interest in KCM Mining.

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ASX Code: EIO