METALS AUSTRALIA LTD — Capital/Financing Update 2018

Jun 20, 2018

ASX Announcement

21 June 2018

Lithium Pegmatite Drilling Program Completed at Manindi Lithium Project

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Highlights:

• A reverse circulation (RC) percussion drilling program to test the grade and continuity of three lithium-bearing pegmatite dykes at the Manindi Lithium Project has been completed

• The drilling program comprised a total of 17 holes for a total of 837 metres of drilling

• Drilling samples have been dispatched for assay and results are expected to be reported in approximately 4-5 weeks time

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Diversified metals exploration company, Metals Australia Ltd (ASX: MLS ) is pleased to announce that a campaign of reverse circulation (RC) percussion drilling has been completed at the Manindi Lithium Project (the “ Project ”), located in Western Australia.

The drilling program comprised three traverses of RC drilling to test three outcropping pegmatite dykes that all contain lepidolite mineralisation (refer to ASX announcement dated 12 June 2018) . A total of 17 RC holes were completed, for a total of 837 metres of drilling.

Drilling samples are currently being freighted to a laboratory in Perth for assay. Results will be reported by the Company when they are received in approximately 4 – 5 weeks time.

ENDS

For more information, please contact:

Gino D’Anna Director Metals Australia Ltd Phone: +61 400 408 878

Graham Baldisseri Company Secretary Metals Australia Ltd Phone: +61 8 9481 7833

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr. Lachlan Reynolds. Mr Reynolds is a consultant to Metals Australia Limited and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Reynolds has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Reynolds consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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Caution Regarding Forward-Looking Information

This document contains forward-looking statements concerning Metals Australia. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on the company’s beliefs, opinions and estimates of Metals Australia as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.