METALLIUM LIMITED — Capital/Financing Update 2021

Oct 26, 2021

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26 October 2021

Dear Optionholder

Notice to Optionholders of Non-Renounceable Loyalty Options Offer

We write to you as the registered holder of options in Mt Monger Resources Limited (ASX: MTM) ( Company or MTM ). As advised in the Company's ASX announcement dated 26 October 2021, the Company is undertaking a non-renounceable pro-rata entitlement offer to eligible shareholders of quoted options in the Company at an issue price of $0.005 each and on the basis of 1 new quoted option ( Quoted Option ) for every 3 shares held on the record date ( Loyalty Options Offer ). Each Quoted Option will have an exercise price of $0.25 each and an expiry date of three years from the date of issue.

Pursuant to the Loyalty Options Offer, the Company will issue up to 14,316,666 Quoted Options to raise up to approximately $71,583 (before costs). The Company released a prospectus for the Loyalty Options Offer ( Prospectus ) to ASX on 26 October 2021.

The Loyalty Options Offer is available to all shareholders ( Shareholders ) registered on the record date on 1 November 2021 ( Record Date ) whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

The Prospectus in relation to the Loyalty Options Offer was lodged with ASIC on 26 October 2021 and will be sent to Eligible Shareholders in due course.

Under the terms of the options you currently hold, there is no entitlement to participate in the Loyalty Options Offer unless you exercise your options and are entered onto the register as a shareholder of the Company by 5pm (WST) on the Record Date.

If you wish to participate in the Loyalty Options Offer, a notice of options exercise and payment of the options exercise price should be lodged with the Company's share registry, Automic Pty Ltd, with sufficient time to ensure that you are registered as a shareholder of the Company by the Record Date.

If you do not wish to participate in the Loyalty Options Offer, no action is required.

For all enquiries concerning the Loyalty Options Offer, please contact the Company Secretary by telephone on +61 8 6444 1788. For all general shareholder enquiries, please contact the Company's Share Registry on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside of Australia).

Yours faithfully

John Hannaford

Non-Executive Chairman

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