MACRO METALS LIMITED — Capital/Financing Update 2012

Sep 12, 2012

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13 September 2012

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

ASX ANNOUNCEMENT DRILLING UPDATE #23 – AGBAJA IRON ORE EXPLORATION PROJECT HIGHLIGHTS

• Analytical results from a further 36 reverse circulation (“RC”) drill holes have been received and are consistent with the profile from previous results reported under the current RC drill program

Australian based iron ore exploration and development company, Energio Limited (ASX:EIO) (“Energio” or the “Company”) is pleased to announce that it has received the Twenty third batch of assay results from the 2011/2012 drilling campaign at its Agbaja Iron Ore Exploration Project, located in Nigeria, West Africa.

The locations of the 36 holes for which analyses are available are shown in Figure 1.

Holes shown in this release are as follows – Drill Line 3 Hole 8 Drill Line 6, Holes 27, 28 and 29 Drill Line 7 Holes 23, 24, 25, 26, 30, 31 and 32. Drill Line 8 Holes 27, 32, 33, 34 and 35 Drill Line 9 Holes, 13, 14, 15, 16, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34 and 35. Drill Line 10, Holes 11, 12, 13 and 14

The tables attached show the results of the XRF analysis of the typical elements for iron analyses of drill holes.

The Company has now released the results from 528 RC drill holes.

RC drilling was expected to recommence at the Agbaja Project this week, however continued wet season rains have delayed the start until later in September.

Following the completion of the remaining RC drill holes, the Company will undertake additional diamond drilling for QA/QC purposes prior to commencing its step out RC drill program to determine a JORC

Target Size for the Agbaja Project.

The Company has previously advised that it intends to issue a maiden JORC resource in September 2012.

Independent global mining and resource consultants Coffey Mining has been engaged to complete the Maiden JORC resource estimate which will be based on the drill hole information complied to date and is not dependent on any outstanding assay results.

13 Colin Street PO Box 1934 Telephone: +61 8 9200 3456 West Perth Western Australia 6005 West Perth Western Australia 6872 Facsimile: +61 8 9200 3455 Australia Australia Website: www.energio.net.au

Energio Limited ABN 28 001 894 033 ASX: EIO

Table A: Significant RC Drill Hole Intersections

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Competent Persons Statement

The geological information in this report has been examined by Dr Warwick Crowe BSc Hons, MSc, PhD who is the Principal Geologist at International Geoscience, a Perth based Geological and Geoscience Consultancy, Dr Crowe is a member of the Society of Economic Geologists and Society for Geology Applied to Mineral Deposits.

Dr Crowe has sufficient experience that is relevant to the style of Geology and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves.

Dr Crowe consents to the inclusion of this report of the matters based on his information in the form and context that the information appears.

About Energio Limited

Energio Limited ( ASX: EIO ) (“ Energio ”) is an ASX listed company focused on the exploration and development of the Agbaja Iron Ore Project (“ Project ”) in Nigeria.

On 29 February 2012, Energio completed the purchase of 100% of the fully paid ordinary shares in Australian company, KCM Mining Holdings Pty Ltd and Nigerian company, KCM Mining Limited, thereby providing Energio 100% ownership and control of the Project.

The granted licence areas for exploration total 384 km[2 ] and are situated in Kogi State, which is part of the central region of Nigeria. In addition to this, the Project is located some 2 hours’ drive south of Nigeria’s capital city, Abuja, providing the Project excellent logistical benefits including access to various equipment and service providers.

Close proximity of the Project to existing rail infrastructure also provides potential advantages in reduced capital expenditure and project development schedule.

Energio has recently commenced metallurgical test work and infrastructure reviews as part of its overall study development program for the Project.

Energio is currently undertaking a 740 hole reverse circulation and diamond drill program at the Project with the objective of defining a maiden JORC Mineral Resource by Q3 2012.

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For further information, please contact us by email info@energio.net.au or by telephone on +61 (0)8 9200 3456 or visit us at www.energio.net.au