Metals X Limited — Major Shareholding Notification 2011

Oct 25, 2011

ACN 110 150 055

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Jinchuan to retain Metals x shareholding

26 October 2011 (Perth, WA)

Jinchuan Group Limited (“Jinchuan”) has today advised Metals X that it has not received approvals from its internal control department and Chinese Government regulatory authorities to enable it to convert their 13.13% shareholding in Metals X into a direct 20% interest in the Central Musgrave Project (“CMP”).

Jinchuan have advised that it wishes to remain a supportive shareholder in Metals X and will retain exposure to the CMP through its shareholding.

with several international entities in regard to financing and development options for the project and believes this outcome will provide additional flexibility.

Warren Hallam Managing Director

Metals X Limited Level 3, 123 Adelaide Tce, East Perth WA 6004 T +61 8 9220 5700 F +61 8 9220 5757 info@metalsx.com.au http://metalsx.com.au/