MACRO METALS LIMITED — Capital/Financing Update 2016

Dec 21, 2016

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Nigerian Subsidiary
Nigerian Subsidiary Nigerian Subsidiary
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22 December 2016

Kogi Iron lodges mining licence applications for Agbaja iron ore and steel project

Kogi Iron Limited (ASX: KFE, “Kogi”, “the Company”) is pleased to announce that its 100% owned subsidiary KCM Mining Limited has lodged its application for mining licences for the Company’s Agbaja iron ore and steel project in Nigeria.

The mining licence applications were lodged with the Nigerian Ministry of Mines & Steel Development.

Submission of the applications follows the signing of the Community Development Agreement (CDA) for the Agbaja project.

The CDA was signed at a ceremony in Agbaja by the nominated members of the Agbaja Communities assigned to do so by the Paramount Ruler over the Oworo People, representatives of the Honorable Minister of Mines and Steel Development and Kevin Joseph, KCM Mining’s Chief Executive Officer and Director.

KCM Mining is applying for two mining licences to ensure the entire footprint of its Agbaja tenements are covered for the long term.

The tenements subject to the mining licence applications cover 90.7 km[2] , where the Company has a JORC-certified resource of 586 million tonnes.

Kogi Chairman Ian Burston said lodgement of the mining licence applications marked an important milestone in the development of Agbaja.

“Having such strong support from the local Agbaja communities is fundamental to the project and we now move forward to securing the licences to mine and process ore on site,” he said.

It is expected processing of the Mining Licence applications, will take place early in the New Year.

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Kogi Iron Limited ABN 28 001 894 033 KCM Mining Limited (Nigerian Subsidiary)

Unit 23, 4 Ventnor Avenue West Perth Western Australia 6005 Australia

PO Box 1934 West Perth Western Australia 6872 Australia

Telephone: +61 8 9200 3456 Facsimile: +61 8 9200 3455 Website: www.kogiiron.com