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Metals X Limited Capital/Financing Update 2021

Aug 2, 2021

10401_rns_2021-08-02_677b534a-fc1b-422e-832b-5cfbc739a818.pdf

Capital/Financing Update

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3 AUGUST 2021

RENISON TIN CONCENTRATE UPDATE

Further to its announcement on 22 June 2021, Metals X Limited ( Metals X or the Company ) wishes to provide a further update on tin concentrate sales from the Renison Tin Operations ( Renison ), in which the Company holds a 50% equity interest. Renison is managed by Bluestone Mines Tasmania Joint Venture Pty Ltd (the Manager ) on behalf of the joint venture owners.

The company has received confirmation that the Malaysian Smelter Corporation ( MSC ) is now operational and payment for previous shipments has commenced with the first of four outstanding provisional payments received by the Company on 3 August 2021.

On receipt of payment for all outstanding shipments, the company will recommence new shipments of concentrate to MSC. This return to operations has occurred earlier than anticipated in the company’s forecast cash flow for the balance of 2021.

This announcement has been authorised by the board of directors of Metals X Limited

ENQUIRIES

Mr Brett Smith Executive Director E: [email protected]

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----- Start of picture text ----- CORPORATE DIRECTORYLevel 5, 197 St Georges TerracePerth WA 6000 AustraliaASX Code: MLX----- End of picture text -----