METALLIUM LIMITED — Capital/Financing Update 2021

Aug 24, 2021

ASX Announcement

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ASX:MTM

25 August 2021

DRILLING COMPLETED AT MT MONGER GOLD PROJECT

Highlights:

• First phase of RC percussion drilling program completed at the Duchess of York Prospect

• 28 drill holes totalling 3,226 metres completed

• Targeting known gold mineralisation and interpreted extensions of the mineralised structure

• Samples delivered to the assay laboratory and results expected to be received in 4-6 weeks

Mt Monger Resources Limited (ASX: MTM ) ( Mt Monger or the Company ) is pleased to advise the completion of an inaugural drilling campaign at the Duchess of York Prospect, part of the Company’s Mt Monger Gold Project located near Kalgoorlie in Western Australia. A total of 28 reverse circulation ( RC ) percussion drill holes have been completed, for a total of 3,226 metres of drilling.

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Figure 1: Location diagram of the Mt Monger Project showing tenements and known gold occurrences.

Mt Monger Resources Limited (ABN 27 645 885 463) Suite 2, 38 Colin Street, West Perth, 6005, Australia P: +61 (0)8 6444 1788, E: admin@mtmongerresources.com.au www.mtmongerresources.com.au

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Commenting on the completion of the drilling program, Managing Director Lachlan Reynolds stated:

• “Completion of the drilling program at Duchess of York Prospect marks an important exploration milestone and we are eagerly awaiting assay results. We are pleased to have been able to source a drilling rig so soon after listing the Company and to mobilise our technical team into the field.

Our other work programs are getting underway elsewhere at the Mt Monger Project and also at the East Laverton Project. We look forward to providing our shareholders with regular updates as we progress these exploration opportunities.”

The drilling was designed to test known gold mineralisation at the Duchess of York Prospect, an area which was first drilled by WMC in 1989. Drilling intersected a complex package of sheared felsic, mafic and ultramafic lithologies with abundant quartz veining and zones of pyrite mineralisation. Gold mineralisation is associated with similar rocks in historical drill holes.

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Figure 2: Drill status diagram of the Duchess of York Prospect showing historical drilling and the collar locations of the completed RC percussion drill holes.

Along with the Duchess of York Prospect, the drilling program was expanded to test a number of other known geochemical and geophysical targets located up to 500m along strike from

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Duchess of York to the northwest. Several zones of quartz veining plus pyrite mineralisation have been observed in the drill chips (Figure 3). This is considered encouraging due to the similarity of the rocks with other known zones of gold mineralisation in the region. Abundant sulfide mineralisation (up to 80% pyrite) was also associated with black shale units intercalated with the rock sequence.

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Figure 3: Selected RC drill chips from recent drilling program showing quartz+pyrite veining (L) and pyrite-rich black shale (R).

Further Work

Samples from the completed RC percussion drilling program have been delivered to the ALS assay laboratory in Kalgoorlie. Due to the current high volume of assay samples currently being processed by the laboratory, assay results are expected to be received in 4-6 weeks time.

Further drilling in the Duchess of York Prospect area may be required if significant gold mineralisation is intersected. The Company is well positioned to rapidly undertake infill work as required.

This announcement is authorised for release on behalf the Board by Mr Lachlan Reynolds, Managing Director.

For further information, please contact:

Lachlan Reynolds Managing Director Mt Monger Resources Limited Tel: +61 (0)8 6444 1788 Email: lachlan@mtmongerresources.com.au

Simon Adams Company Secretary Mt Monger Resources Limited Tel: +61 (0)8 6444 1788 Email: simon@mtmongerresources.com.au

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About Mt Monger Resources Limited

Mt Monger Resources Limited is an exploration company searching for gold, nickel, rare earth elements (REE) and base metals in the Goldfields of Western Australia. The Company holds over 3,000km[2] of tenements in two prolific and highly prospective goldfields. The Mt Monger Gold Project comprises a contiguous area of ~120km[2] area containing known gold deposits occurrences in the Mt Monger area, located ~70km SE of Kalgoorlie and immediately adjacent to the Randalls gold mill operated by Silver Lake Resources Limited. The East Laverton Gold Project is a regionally extensive package of underexplored tenements prospective for gold, base metals and REE. Priority drilling targets have been identified in both project areas and the Company is well funded to undertake effective exploration programs. The Company has an experienced Board and management team which is focused on discovery to increase value for Shareholders.

Competent Person’s Statement

The information in this report that relates to Exploration Results is based on and fairly represents information compiled by Mr Lachlan Reynolds. Mr Reynolds is the Managing Director of Mt Monger Resources Limited and is a member of both the Australasian Institute of Mining and Metallurgy and the Australasian Institute of Geoscientists. Mr Reynolds has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reynolds consents to the inclusion in this report of the matters based on information in the form and context in which they appear.

Previous Disclosure

The information in this announcement is based on the following Mt Monger Resources Limited ASX announcements, which are available from the Mt Monger Resources website www.mtmongerresources.com.au and the ASX website www.asx.com.au.

• 9 August 2021 “Drilling commences at Mt Monger Gold Project”

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements and that all material assumptions and technical parameters underpinning the relevant ASX 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 represented have not been materially modified from the original ASX announcements.

Cautionary Statement Regarding Values & Forward-Looking Information

The figures, valuations, forecasts, estimates, opinions and projections contained herein involve elements of subjective judgment and analysis and assumption. Mt Monger Resources does not accept any liability in relation to any such matters, or to inform the Recipient of any matter arising or coming to the company’s notice after the date of this document which may affect any matter referred to herein. Any opinions expressed in this material are subject to change without notice, including as a result of using different assumptions and criteria. This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “expect”, and “intend” and statements than an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Mt Monger Resources undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. The Recipient should not place undue reliance upon forward-looking statements. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Mt Monger Resources from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Mt Monger Resources, its affiliates, directors, employees and/or agents expressly disclaim any and all liability relating or resulting from the use of all or any part of this document or any of the information contained herein.

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