METALS AUSTRALIA LTD — AGM Information 2007

Nov 12, 2007

==> picture [199 x 40] intentionally omitted <==

A C N 0 0 8 9 8 2 4 7 4

1st Floor, 8 Parliament Place West Perth WA 6005 PO Box 1618 West Perth WA 6872 Tel: (08) 9481-7833 Fax: (08) 9481-7835 Email: mls@metalsaustralia.com.au Website: www.metalsaustralia.com.au

13 November 2007

The Manager Company Announcements Office Australian Securities Exchange Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

Presentation at Annual General Meeting

Attached herewith is a copy of a presentation made today at the Company’s Annual General Meeting to update shareholders on the present status of the Company’s projects.

Yours faithfully Metals Australia Ltd Norman Grafton Company Secretary

METALS AUSTRALIA LTD

A DIVERSIFIED MINERALS EXPLORER

MOVING TOWARDS PRODUCTION

AGM 2007

Metals Australia – Exploration Activities

Metals Australia (‘MLS’) is an Australian based company with base metal projects in Western Australia and uranium projects in Namibia, southwest Africa.

The company’s priority project areas are currently:

1. MANINDI ZINC PROJECT, WESTERN AUSTRALIA

2. Recent drilling has continued to delineate near surface, high-grade zinc mineralisation.

3. A recalculation of the JORC resource is underway to include this drilling.

4. Geological modeling has outlined a number of targets outside the known resources areas.

5. MILE 72 URANIUM PROJECT, NAMIBIA

6. The reconnaissance phase of geophysical and geochemical surveying is now complete.

7. Shallow pit sampling showed an increase in the grade of uranium mineralisation at depth, up to 2.31% uranium oxide.

8. An extensive trenching programme is now underway to test the near surface mineralisation and assist in defining targets for drilling.

Page 2

MLS – Project Locations

Metals Australia currently has an interest in FOUR separate mineral exploration projects on TWO continents:

==> picture [66 x 13] intentionally omitted <==

----- Start of picture text -----

SHERLOCK BAY
EXTENDED PROJECT
----- End of picture text -----

1. MANINDI ZINC PROJECT (DEVELOPMENT PROJECT) Located in the Murchison district of Western Australia, with current resources of over ONE MILLION TONNES at more than 7.5% Zinc.

==> picture [96 x 6] intentionally omitted <==

----- Start of picture text -----

MANINDI ZINC PROJECT
----- End of picture text -----

1. SHERLOCK BAY EXTENDED PROJECT (ARH/ MLS JV) Located in the northern Pilbara of Western Australia. Surrounds the Sherlock Bay nickel deposit and has both precious and base metal potential.

==> picture [171 x 204] intentionally omitted <==

----- Start of picture text -----

ENGO VALLEY
URANIUM PROJECT
MILE 72 URANIUM
PROJECT
----- End of picture text -----

1. MILE 72 URANIUM PROJECT (GREENFIELDS DISCOVERY) Located on the central coast, in Namibia’s Erongo Province. Exploration has identified two prospects with uranium samples of up to 2.31% URANIUM OXIDE.

2. ENGO VALLEY URANIUM PROJECT (EXTENSIONAL EXPL) Located in the Skeleton Coast region of northwestern Namibia. Along strike from the Engo Valley uranium deposit.

Page 3

MLS – Manindi Zinc Project

==> picture [341 x 408] intentionally omitted <==

----- Start of picture text -----

Manindi
----- End of picture text -----

• The Manindi Zinc Project is located in the Murchison District of Western Australia.

• The project is approximately 600 km to the northeast of Perth and is easily accessible via the Gt Northern Hwy and Sandstone Rd.

• The project is approx. 20 km to the southwest of Apex Minerals NL Youanmi minesite.

• The project consists of 2 Granted Mining Leases and 1 Mining Lease application. There are no known native title or environmental issues with the project area.

• Manindi is a Volcanogenic Massive Sulphide deposit with a resource of more than ONE MILLION tonnes at over 7.5% Zinc.

• Recent drilling by MLS shows strong potential for upgrades to both the resource tonnage and grade (recalculation underway currently).

Page 4

MLS – Manindi Zinc Resources

• The Manindi Zinc resources are hosted in four individual deposits: Zone A, B, D Sth & D Nth.

• The 2000 JORC resource for these areas was: 1.05 Mt @ 7.64% Zn (at a 1% Zn cut-off)

• MLS has recently completed more than 7500 metres of RC & diamond drilling as infill and extensional drilling.

• MLS is currently recalculating the JORC resource to include this drilling data.

• Geological modeling of Zones A & B has been completed and Zone D is now nearing completion.

• The resources are hosted along approx. 2 kilometres of strike – a further 4 kilometres of strike remains poorly explored.

Page 5

MLS – Manindi Zone A & B Modeling

• The image to the left shows a view of the Zone A & B ore bodies from the southwest.

• The image shows the drill hole traces and the offset fault (grey) between the two ore bodies.

• The main zinc lodes are shown in blue with the footwall lodes in green & red. In addition the Bandicoot lode extends to the south.

• The image to the left shows the Zone A & B ore bodies, with the view from the northeast.

• The long section on the next page, shows the distribution of the zinc grade through these two ore bodies.

Page 6

MLS – Manindi Zone A & B Long Section

Page 7

MLS – Manindi Zinc Development

Metals Australia’s is moving Manindi towards production. The current development programme includes:

• Infill sampling.

• Lithological and Structural Modeling of Zone D.

• Revised JORC Resource for Zones A, B & D.

• Metallurgical testing to determine floatation characteristics of the Manindi ore.

Metals Australia’s development programme will soon expand to include:

• Mine Design and Costings

• Plant/ Process Design and Costings

• Regional exploration and resource expansion.

Page 8

MLS – Sherlock Bay Extended Project

• The Sherlock Bay Extended project is located in the northern Pilbara and is prospective for both precious and base metals.

• The project is operated by Australasian Resources Ltd (ARH), with MLS holding a 30% free-carried interest.

• The project area surrounds, but does NOT include, ARH’s Sherlock Bay nickel deposit.

• Exploration by MLS identified nickel targets at George Sherlock, Quartz Bore & Sherlock North (as well as several other locations).

• Recent exploration by ARH appears to have identified part of a VMS system at Malagine in the northeastern tenement area. Rockchips of up to 235 gpt Silver have been taken from the area.

Page 9

MLS – Mile 72 Uranium Project

• Mile 72 is on the central coast of Namibia, approximately 115 km northwest of RTZ’s ‘world-class’ Rossing Uranium Mine.

• Located in the northwestern Erongo Province of Namibia, a region that also hosts Bannerman’s Goanikontes and Paladin’s Langer Heinrich uranium deposits.

• Accessed via the Henties Bay-Cape Cross road that crosses the project area.

• First pass exploration identified a broad zone of uranium mineralisation over more than 10 kilometres of strike.

• Near surface and pit sampling has resulted in a high portion of assays being ‘ore grade’ (200 ppm uranium oxide) or above, the highest assay to date being 2.31%.

• Mile 72 is a ‘greenfields’ discovery in a ‘world-class’ uranium province.

Page 10

MLS – Mile 72 Uranium Prospect Areas

MLS exploration has defined TWO distinct prospect areas at Mile 72:

1. KUDU

• In the southeastern tenement area covers more than 11,000,000 square metres.

• Outcrop of uraniferous gypcrete and subcropping uraniferous sediments, alaskites and granites.

• Surface sampling has returned a high percentage of assays above 1000 ppm uranium oxide, with peak values in shallow pit sampling of 2.31%.

2. IMPALA

• Covers the northeastern tenement area, extending over more than 4 kilometres of strike.

• Deepening alluvial cover masks the uranium mineralisation and the underlying host stratigraphy.

• Sampling has returned anomalous assays up to 455 ppm uranium oxide.

Page 11

MLS – Mile 72 Uranium Mineralisation

MLS Geologists sampling the uranium enriched gypcrete at Kudu.

Mineralisation model for Mile 72.

Sub cropping alaskites, with some gypcrete, at Kudu. The alaskites and granites are presumed to be the primary source of the uranium mineralisation at Mile 72.

Page 12

MLS – Mile 72 Trenching Programme

• Trenching continues at Mile 72.

• A backhoe is being utilised to open up trenches at between 500 and 1000 metres spacing.

• Trenching has been undertaken across the Kudu and Impala prospects.

Carnotite encrusted leuco-granite from trenching at Kudu.

• Carnotite and other uranium hydroxides visible in trench sampling.

• Primary mineralisation is associated with a leuco-granite/ alaskite that has intruded the country rock.

• Sampling and detailed mapping of the trenches is now underway with the assistance of UNAM.

Carnotite ‘veining’ at Kudu.

Page 13

MLS – Mile 72 Exploration Programme

Metals Australia’s exploration programme in 2007 has consisted of:

• Reconnaissance Mapping and Sampling

• Ground and Airborne Radiometrics & Magnetics

• High-Resolution Satellite Imaging

• Near Surface & Shallow Pit Sampling

Metals Australia’s ongoing exploration programme consists of:

• Trenching and Channel Sampling

• Detailed and Regional Geological Mapping

• Drilling in the first quarter of 2008 (subject of drill rig availability).

Page 14

MLS – Engo Valley Uranium Project

• The Engo Valley uranium project is located on the northwestern coast of Namibia, in the Skeleton Coast Park.

• The project is along strike from the main Engo Valley uranium deposit, discovered by Gencor in the 1970’s.

• Engo Valley is hosted by Karoo sediments, which are often masked by sands and gravels within the Engo Valley palaeochannel.

• Karoo sediments host uranium mineralisation in much of southern Africa including Tanzania, Malawi and Botswana.

• Airborne radiometrics have identified a target area covering more than 7 kilometres of strike, associated with subcropping Karoo sediments.

• MLS is currently working with the MME/ GSN to obtaining permitting to work in this area.

Page 15

MLS – Engo Valley Exploration Targets

Outcrop Geology, Palaeochannel Extents & Primary Target Area

Outcrop Geology & Gencor Radiometrics

Page 16

MLS – Moving Forward in 2008

Metals Australia continues to progress its projects into 2008. Exploration and development priorities will include:

1. MANINDI ZINC PROJECT

• Moving to pre-feasibility with a new JORC resource, advanced metallurgical testing, mine design and process engineering.

• Commencement of regional exploration outside the known resource areas, to find further ore and extend mine life.

2. MILE 72 URANIUM PROJECT

• Completion of trenching and targeting for drilling.

• Drill testing of targets generated by sampling.

• Move towards the delineation of a JORC resource.

Metals Australia have already proven itself to be a highly successful exploration group, with the ability to identify undervalued assets and create shareholder wealth - this will continue in 2008.

Page 17

Metals Australia Ltd – Important Notice

• This presentation has been prepared by Metals Australia Ltd (“MLS”) as a summary of the company’s exploration activities.

The presentation is not, and should not, be considered as an offer or invitation to subscribe for, or purchase any securities in MLS, or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in MLS will be entered into on the basis of this presentation.

This presentation contains certain forward looking statements which have not been based solely on historical facts but, rather, on MLS’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of MLS and its directors, officers and advisers.

Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified for and officers, nor has it been audited. Accordingly, the company does not warrant or represent that the information contained in this presentation is accurate or complete. To the fullest extent permitted by law, no liability, however arising, will be accepted by MLS or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in this presentation.

Page 18