MACRO METALS LIMITED — Capital/Financing Update 2018

Mar 15, 2018

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16 March 2018

Kogi Iron Limited announces RFC Ambrian as its mandated London Broker

Kogi Iron Limited (“Kogi” or “the Company”) (ASX: KFE) has retained RFC Ambrian as its broker to provide equity raising advice for the significant equity funds required for the construction of the Agbaja Cast Steel Project. RFC Ambrian will work closely with the Company’s debt advisor SD Capital.

RFC Ambrian is the preferred broker for Kogi because of its strong presence in the United Kingdom as well as Australia, and its deep relationships with both the resource and infrastructure investment community in the United Kingdom, Europe and Australia. RFC Ambrian will also investigate the listing options available to Kogi to raise the equity finance required to secure an Export Credit Agency led debt package and bring the Agbaja Cast Steel Project to fruition.

Ian Burston – Chairman of Kogi said “mandating RFC Ambrian as our London broker represents another step forward in our overall strategy for bringing the Agbaja Cast Steel Project to completion”.

About Kogi Iron (ASX: KFE)

Kogi Iron Limited is a Perth-based company with the objective of becoming a producer of cast steel product that can be sold to manufacturers of steel products through the development of its 100% owned Agbaja Cast Steel Project located in Kogi State, Republic of Nigeria, West Africa (“Agbaja” or “Agbaja Project”).

Nigeria has substantial domestic demand for steel products, which is currently met largely through imports. The Agbaja Cast Steel Project, located on the Agbaja plateau approximately 15km northwest of Lokoja city in Kogi State and approximately 200km southwest of Abuja, the capital city of Nigeria, opens the opportunity for domestic production of cast steel products.

The Company holds a land position which covers a large part of the Agbaja Plateau. The Agbaja Plateau hosts an extensive, shallow, flat-lying channel iron deposit with an Indicated and Inferred Mineral Resource of 586 million tonnes with an in-situ iron grade of 41.3% reported in accordance with the JORC Code (2012). This mineral resource covers approximately 20% of the prospective plateau area within ML24606 and ML24607.

KFE Capital SummaryOrdinary Shares: 612,154,685Unlisted options: 29.8mShare price: $0.10Market capitalisation: $61m	Board of DirectorsDr Ian Burston –Non Executive ChairmanMr Martin Wood –Chief Executive OfficerMr Kevin Joseph –Executive DirectorMr Don Carroll –Non Executive DirectorMr Michael Tilley–Non Executive Director	ContactUnit 23, 4 Ventnor Avenue,West Perth WA 6005Tel : +61 8 9200 3456Email: info@kogiiron.comW:www.kogiiron.com

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Table 1 – Summary Grade Tonnage for Laterite (Zone A) and Oolitic (Zone B) Horizons (20% Fe lower cut off is applied) Refer ASX announcement 10 December 2013.

ClassificationZone A(Laterite Mineralisation)IndicatedInferredTotal Indicated + Inferred (Zone A)Zone B(Oolitic Mineralisation)Indicated	Tonnes (Mt)147.533.9181.4318.7	Fe (%)33.231.732.9
		45.2
Inferred	86.3	44.7
Total Indicated + Inferred (Zone B)	405.0	45.1
Combined Zone A and Zone B
Total Indicated	466.2	41.4
Total Inferred	120.1	41.1
Total Indicated + Inferred	586.3	41.3

The Company confirms that it is not aware of any information or data that materially affects the information included in the original market announcements and, in the case of estimated Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.