METALSTECH LIMITED — Capital/Financing Update 2017

Aug 27, 2017

ASX Release 28 August 2017

MetalsTech’s Exploration Strategy for Cancet Lithium Project

Lithium developer MetalsTech Limited (ASX: MTC) would like to announce the exploration strategy for its Cancet Lithium Project in Quebec, Canada.

Highlights

MetalsTech has built a strategic portfolio of hard-rock lithium projects in Quebec, Canada and is focused on the exploration and development of its flagship high-grade Cancet Lithium Project:

• The Company will complete its planned Phase II drilling program and subsequently delineate a maiden JORC resource, with the first 10 holes of this program to commence in September

• Cancet is located adjacent to key infrastructure and mining services including power, water, gas and road

• Advanced drill-core metallurgical test work identified the Cancet pegmatite as being a primary spodumene pegmatite (98% spodumene) with low levels of impurities and a coarse-stubbly spodumene crystal structure

• Testing by tier 1 WA-based laboratory NAGROM has demonstrated that using a simple DMS process, Cancet is able to achieve high lithium deportment ratios from low relative mass feed indicating potential for a low CAPEX and OPEX operation

• Cancet spodumene concentrate is a coarse-grain product at a grind size of 10mm and is highly sought after by offtake customers – offtake discussions are progressing

• Phase I drilling campaign completed in March 2017 indicated a shallow high-grade deposit at Cancet – a mineralised strike length of 1.2km has been identified and remains open in both directions

• Further down dip / plunge extensions and infill drilling will be completed as part of the Phase II program to ensure internal management targets for tonnage are met

• Ground magnetic surveys have been completed at Cancet highlighting additional pegmatite structures that will be drill tested in future campaigns – significant potential for mineralised strike extension

• The Company plans to be “deal-ready” by 2018 in respect of a strategic financing for Cancet

Executive Director Mr Gino D’Anna stated:

“Since listing in February 2017 we have made significant progress at Cancet. Drilling has demonstrated the project has potential to be a shallow high-grade deposit while the metallurgical test work results have been strong.

Our aim for the Phase II drilling campaign is to significantly increase the tonnage at Cancet, allowing us to deliver a maiden JORC resource and subsequent Scoping Study to model the potential economics of a hard rock lithium operation.

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Registered Office Unit 1, 44 Denis Street Subiaco WA 6008 T +61 408 408 878 T +61 415 493 993 E info@metalstech.net

Board of Directors Projects Executive Chairman - Russell Moran Cancet 100% owned Executive Director - Gino D’Anna Adina 100% owned Non-Executive Director - Shane Uren Terre Des Montagnes 100% owned Non-Executive Director - Michael Velletta Wells-Lacourciere 100% owned Kapiwak 100% owned Sirmac-Clapier 100% owned Bay Lake 100% owned

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Despite the recent softening of the share price largely caused by trading activities of one significant shareholder, our register remains tight with the top 20 shareholders controlling over 70%, and our core shareholder base remains supportive of the Company and its projects.”

Bay Lake High Grade Cobalt Project

The Company identified the Bay Lake High Grade Cobalt Project in Ontario, Canada as an opportunity for MetalsTech to secure exposure to this important battery mineral in a low risk jurisdiction.

• Bay Lake hosts historic high grade in vein samples of 15.36% Co as well as high grade surface dump samples of 2.14% Co (refer to ASX announcement dated 16 March 2017 and titled “MetalsTech to Acquire Two High Grade Cobalt Projects”)

• Recent mapping and sampling by the Company targeted broader mineralisation potential of the project area beyond the existing Calcite veins which host the high-grade cobalt, and discovered extensive high-grade samples on surface:

  • 1.17% Co and 7.7g/t Ag recovered from a surface “dump” pile at the Van Chester (Last Chance) Prospect

  • 3.45g/t Au and 44.5g/t Ag also recovered around the Bay Lake exploration shaft and pit suggesting potential for Co-Ag-Au in the area

  • A previously un-reported zone of mineralisation at a historic pit located approximately 900m NE of the Bay Lake Prospect exploration shaft has assayed 0.30% Co and 16.4g/t Ag

• An airborne survey has been completed at Bay Lake and whilst complete results are still being interpreted, the preliminary data highlights a number of previously undocumented mineralised zones

• Initial drill targets have been selected and a planned drill campaign of between 800m – 1,000m has been designed which will drill test the high-grade Calcite veins around the historic showings and provide an initial mineralisation envelope

• Additional geological mapping and sampling of the additional targets identified through the EM survey is also planned

ENDS

For further information, contact:

Russell Moran Gino D’Anna Nathan Ryan Executive Chairman Executive Director Investor Relations M +61 415 493 993 M +61 400 408 878 M +61 420 582 887 russell@metalstech.net gino@metalstech.net nathan@nwrcommunications.com.au

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 400 408 878 | +61 415 493 993 www.metalstech.net

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Caution Regarding Forward-Looking Information

This document contains forward-looking statements concerning MetalsTech. 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 forwardlooking 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 MetalsTech 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.

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 400 408 878 | +61 415 493 993 www.metalstech.net