MACRO METALS LIMITED — Capital/Financing Update 2012

Feb 22, 2012

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23 February 2012

Energio Limited

ABN: 28 001 894 033

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

21 Teddington Road Burswood WA 6100

PO BOX 6918 East Perth WA 7892

T: (08) 9486 2333 F: (08) 9355 4580

www.energio.net.au

ASX ANNOUNCEMENT

DRILLING UPDATE #5 – AGBAJA IRON ORE EXPLORATION PROJECT

HIGHLIGHTS

• Company receives results of the fifth batch of assay results.

• Analytical results from the fifth batch of 10 drill hole samples remain at higher than the initial expected range.

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

As the Company has previously announced, continuous results are now being received and released to the market from the 237 vertically drilled Reverse Circulation (RC) drill holes completed to date of the planned 20,000 metres of drilling for resource definition at the Agbaja Iron Ore Exploration Project. All drill holes planned for Agbaja will be vertical RC. The RC drilling program is now 36% completed.

The locations of the 10 Drill Holes for which analyses are available are shown in Figure 1, together with the location of all Drill Holes of the planned drilling program. Tables 1 – 10 show the results of the XRF analysis of the typical elements for iron ore analysis of Drill Holes 5, 6, and 7 in Drill Line 18, and Drill Holes 1, 2, 3, 4, 5, 6, and 7 in Drill Line 19. These results continue the previous results and remain very encouraging.

For the immediate future we will continue to report in this format.

Drilling continues at planned rates and the Company remains on target to finalise the drilling and sampling program within the 2[nd] quarter of 2012.

Table 1: Drill Hole Number 5 (Drill Line 18)

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2

Table 2: Drill Hole Number 6 (Drill Line 18)

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3

Table 3: Drill Hole Number 7 (Drill Line 18)

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4

Table 4: Drill Hole Number 1 (Drill Line 19)

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5

Table 5: Drill Hole Number 2 (Drill Line 19)

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6

Table 6: Drill Hole Number 3 (Drill Line 19)

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7

Table 7: Drill Hole Number 4 (Drill Line 19)

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8

Table 8: Drill Hole Number 5 (Drill Line 19)

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9

Table 9: Drill Hole Number 6 (Drill Line 19)

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10

Table 10: Drill Hole Number 7 (Drill Line 19)

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11

Figure 1: Drill Line and Hole Locations

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Sample Methods and Results

Drilling is well underway throughout the selected area of approximately 14 square kilometres and will comprise some 800 holes all of which will penetrate through the ore body, samples being taken at regular intervals down each hole.

Each hole drilled will be subjected to XRF testing for the presence of a number of elements including Iron (Fe) and Phosphorus (P), Alumina (Al2O3), and Silica (SiO2) which are important impurities associated with the iron making process.

Loss on Ignition (LOI), the water present in the ore, which must also be removed during the iron making process, is also determined during laboratory testing at this stage.

There will be reports issued on each hole drilled and we expect these results to now appear regularly over the next 3 to 4 months until the program is completed.

Additionally a number of deep holes will be drilled to test for the presence of further mineralisation at depth.

A decision will shortly be made to subject a selection of samples for further testing including Davis Tube analysis and metallurgical testing to assist in understanding the processing which will be necessary to extract the Fe and handle the impurities that may be present.

Reports will be issued as these additional processes are undertaken.

Competent Persons Statement

The drill hole results 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.