METALS AUSTRALIA LTD — AGM Information 2013

Nov 28, 2013

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METALS AUSTRALIA LTD

AGM presentation November 2013

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Disclaimer & Declaration

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This presentation has been prepared by Metals Australia (“MLS”) as a summary of the company’s exploration and development activities, with particular reference to the Mile 72 Uranium project in Namibia.

No Offer of Securities

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.

Forward Looking Statements

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.

Reliance on Third Party Information

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 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.

Competent Person Declaration

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Matthew Painter, who is a member of The Australasian Institute of Geoscientists. Mr Marshall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Dr Painter consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

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MILE 72 Uranium Project

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• First deeper RC drilling program completed

• Primary Rössing-style uranium mineralisation is confirmed to be hosted by alaskitic pegmatites at Mile 72 in the Namibian Uranium Province.

• Multiple anomalous uranium-mineralised zones show strike continuity in drilling and trenching of up to 2km.

• Initial results encouraging and expand the opportunity for discovery

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Central Damara Uranium Province

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• Home to Namibia’s uranium industry.

• • Includes Rössing, Husab, Valencia, Langer Heinrich, Trekkopje and numerous others.

• • Alaskite-hosted deposits.

• • Calcrete-hosted deposits.

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Alaskite generation

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• Mile 72 is located in the same pressure-temperature region responsible for the generation of alaskites in “Alaskite Alley”,

• Alaskites naturally concentrate uranium (and other incompatible elements)

• Alaskites host the regions largest primary uranium deposits such as Rösssing, Husab

• Alaskites known to host uranium at Mile 72

Diagram showing areas of alaskite genesis in relation to the alaskite-hosted uranium deposits of the region. Mile 72 is clearly located in the heart of the same zone as the major uranium deposits of “Alaskite Alley”. The outer red area marks the zone in which geological conditions peaked at the pressures and temperatures required to generate alaskites. The inner pink area represents where geological conditions passed through and exceeded pressures and temperatures required to generate alaskites, but which may have generated alaskites at some point in their history.

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2013 Drilling Program outcomes

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• 39 RC drillholes completed for 3,763m in a campaign of widely-spaced drilling.

• Assays received for 20 holes. 31 Significant Intercepts identified from 14 holes, including an intercept of 1m@3,407ppm U3O8 in MSRC0042 and 1m@572ppm U O in MSRC0031. 3 8

• Continuity of zones identified over many hundreds of metres

• Surface enrichment zones spatially related to primary mineralisation zones

• Zones identified under radiometrically dead thick

• sand cover – correspond to Radon Cup anomalism

• Area opened up significantly to exploration by the recent drilling

• Significant Intercept in the current program being 1m>50ppm U3O8

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MILE 72 Drilling – Intercept Highlights

• 3m at 1,192ppm U3O8 in MSRC0042 from 13m, including 1m at 3,407ppm

U O . 3 8

• 6m at 158ppm U3O8 in MSRC0031 from 9m , including 3m at 265ppm U3O8 from 12m and including 1m at 572ppm U3O8

• 3m at 106ppm U3O8 in MSRC0004 from 11m, including 1m at 141ppm U3O8

• 3m at 102 U3O8 in MSRC0043 from 45m, including 1m at 147ppm U3O8

• 3m at 96ppm U3O8 in MSRC0009 from 32m , including 1m at 159 U3O8

• 3m at 88ppm U3O8 in MSRC0001 from 96m, including 1m at 106ppm U3O8

• 7m at 82ppm U3O8 in MSRC0026 from 2m , including 2m at 144ppm U3O8

• Significant Intercept in the current program being 1m>50ppm U3O8

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Drilling Locations – Southern Area

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Trends Identified – Cover Disguising Targets

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Large Target Areas under Cover to be tested

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Large Target Areas under Cover to be tested

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MILE 72 Future Exploration

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• Mineralised alaskitic pegmatites

• continue at depth and correlate with mineralisation observed in trenches at surface.

• are spatially associated with later dolerite dykes. These dykes can be easily detected magnetically in the subsurface.

• Uraniferous gypcrete accumulates in topographic depressions (pans) close to subsurface uranium sources.

• Areas of cover completely obscure subsurface mineralisation. Large areas of the outcropping Kudu-Impala zone of mineralisation remains to be tested.

• Uranium mineralisation buried by significant sedimentary cover corresponds directly with Radon Cup anomalism. Further testing of these anomalies is required.

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Next Steps - Exploration

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• Follow up drilling over Radon Cup anomalies under blanket sand

• cover

• Shallow (<30m), low cost drilling to test complete sections across hidden anomalous areas

• Work to commence in early 2014

• Upon further success ( wide intersections eg >5m @ 150ppm U3O8)

• Systematic 200x200m spaced drilling over 25km[2] to 100m depth

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Mile 72 results in context

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If we have drilled a kilometre or two outside of a Rössing-type deposit, we could easily miss…

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something like this…