METALS AUSTRALIA LTD — Capital/Financing Update 2012

Feb 28, 2012

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29 Fe b ruary 201 2

The Manager ASX Market Announcements Office Australian Securities Exchange Limited Level 4, Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear S ir

PLACEMENT ADVICE

Metals Australia has agre e d to plac e 41,064,865 shares at a pric e of 3.7 c e nts per share ( together w ith one free attaching option for every s hare allo t ted, whic h option being e xercisabl e at 5 ce n ts on or b efore the expiry date of 1 D e cember 2 013) to raise $1,519,400 before co s ts.

These monies will be used to fund the Compa n y’s ongoi n g explora t ion, inclu d ing the upcoming drilling program m e at its M i le 72 ura n ium prospect in Na m ibia.

Yours faithfully Norman Grafton Company Secretary Metals Australia Ltd

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