MACRO METALS LIMITED — Capital/Financing Update 2012

Feb 5, 2012

6 February 2012

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Energio Limited

ABN: 28 001 894 033

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

ASX ANNOUNCEMENT DRILLING UPDATE #3 – AGBAJA IRON ORE EXPLORATION PROJECT

Burswood WA 6100

PO BOX 6918 East Perth WA 7892

T: (08) 9468 2333 F: (08) 9355 4580

HIGHLIGHTS

• Company receives results of the third batch of assay results

• Grade and thickness of ore body consistent with previous results

• Thickness of intersections on average 3m thicker in main ore body than first results

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

Further to our announcement of 24 January 2012, continuous results are now being received and released to the market from the 200 drill holes completed to date of the planned 20,000 metres of drilling for resource definition at the Agbaja Iron Ore Exploration Project.

The locations of the 8 holes for which analyses are available are shown in Figure 1, together with the location of all holes of the planned drilling program. Tables 1 – 8 show the results of the XRF analysis of the typical elements for iron ore analysis of drill holes from Drill Row Lines 12 and 13.

These results continue the previous results and remain very encouraging averaging about three metres thicker in the main ore body intersections when compared with the initial results.

Energio Chairman, Dr Ian Burston noted that “these results compared with the results to date are encouraging as they appear to be homogeneous. Also, over the next few months in addition to completing the analysis of drill samples, we will also be selecting samples for metallurgical testing to determine optimal ways of processing this material.”

With the recommencement of drilling last week the company remains on target to finalise the drilling and sampling program within the 2nd quarter of 2012.

Table 1: Drill Hole Number 17 (Drill Line 12)

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2

Table 2: Drill Hole Number 18 (Drill Line 12)

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3

Table 3: Drill Hole Number 23 (Drill Line 12)

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4

Table 4: Drill Hole Number 25 (Drill Line 12)

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5

Table 5: Drill Hole Number 26 (Drill Line 12)

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6

Table 6: Drill Hole Number 7 (Drill Line 13)

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7

Table 7: Drill Hole Number 8 (Drill Line 13)

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8

Table 8: Drill Hole Number 9 (Drill Line 13)

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9

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.