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METALSTECH LIMITED Capital/Financing Update 2021

Aug 23, 2021

65380_rns_2021-08-23_9650334b-e893-4a8a-b243-ce2cc42aad23.pdf

Capital/Financing Update

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ASX Release 24 August 2021

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Drilling Commences at the Sturec Gold Mine

Highlights

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Commenting on the progress at Sturec, MetalsTech Chairman, Russell Moran stated:

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Scoping Study Progress

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Metallurgical Test Work Update

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ENDS

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Caution Regarding Forward-Looking Information

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Competent Persons Statement

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Background: Sturec Gold Mine

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č

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Mineral Resource Estimate – Sturec Gold Project

Updated Sturec Mineral Resource Estimate

Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate
Resource Estimate above 0.26 g/t Au cut-off and within an optimised open pit shell
Resource
Category
Tonnes (kt)		 Au (g/t) Ag (g/t) AuEq
(g/t) 1		 Au (koz) Ag (koz) AuEq
(koz)
Measured
15,340		 1.43 12.04 1.53 704 5,940 752
Indicated
18,438		 1.20 6.74 1.25 709 3,995 742
Measured +
Indicated
33,778		 1.30 9.15 1.38 1413 9,935 1494
Inferred
4,717		 0.72 6.56 0.77 109 995 117
TOTAL
38,495		 1.23 8.83 1.30 1,522 10,930 1,611
Resource Estimate above 2 g/t Au cut-off: outside optimised open pit shell
Resource
Category
Tonnes (kt)		 Au (g/t) Ag (g/t) AuEq
(g/t)1		 Au (koz) Ag (koz) AuEq
(koz)
Measured
30		 2.90 21.18 3.08 3 21 3
Indicated
114		 3.75 10.5 3.81 14 38 14
Measured +
Indicated
144		 3.57 12.74 3.66 17 59 17
Inferred
4		 2.73 8.0 2.80 0 1 1
TOTAL
148		 3.55 12.62 3.64 17 60 18

1 AuEq g/t = ((Au g/t gradeMet. Rec.Au price/g) + (Ag g/t gradeMet. Rec.Ag price/g)) / (Met. Rec.*Au price/g) Long term Forecast Gold and Silver Price (source: Bank of America): $1,785 USD/oz and $27 USD/oz respectively. Gold And silver recovery from the 2014 Thiosulphate Metallurgical test work: 90.5% and 48.9% respectively. It is the Company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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