METRO MINING LIMITED — Capital/Financing Update 2015

Jun 17, 2015

18 June 2015

Metro Mining Amends GCR Agreement for Hey Point

Metro Mining Limited ( Metro Mining, ASX: MMI ) wishes to provide an update about the changes in payment arrangements in relation to the sale of its Hey Point bauxite tenements.

As previously disclosed, Cape Alumina Pty Limited ( Cape Alumina ), a wholly-owned subsidiary of Metro Mining, entered into an agreement with Green Coast Resources Pty Limited ( GCR ) in June 2013 for the acquisition by GCR of its Hey Point bauxite tenements on Western Cape York (EPM 15054 and MLA 20611) ( Hey Point Tenements ) ( Sale Agreement ). The consideration under the original Sale Agreement comprised both cash payments and the grant of a right to receive royalties of 2% - 3% of future gross sales proceeds on all bauxite sold from the Hey Point Tenements.

Under the terms of the Sale Agreement, Cape Alumina was today due to receive a final cash payment of $1,000,000, however Metro Mining advises that Cape Alumina has entered into a deed of amendment, termination and acknowledgement with GCR which amends the Sale Agreement as follows:

1. a sum of $250,000 will be paid by GCR to Cape Alumina today; and

2. the outstanding sum of $750,000 will be increased to $825,000 and paid in two instalments; $275,000 in September 2015 and $550,000 in December 2015.

In addition, the marketing agreement between GCR and Cape Alumina has been terminated in consideration for a 1% increase in royalty payable by GCR to Cape Alumina on FOB Bauxite sales. This will now provide Cape Alumina a right to receive total royalties of 3% - 4% of future gross sales proceeds on all bauxite sold from the Hey Point Tenements.

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FOR MORE INFORMATION ASX : MMI

Email : info@metromining.com.au Phone : +61 (0) 3009 8000 Fax: +61 (0) 7 3221 4811 Contact: Mr Simon Finnis | Chief Executive Officer | Mr Scott Waddell | Company Secretary Electronic copies and more information available on the Company websit e : www.metromining.com.au REGISTERED OFFICE AND HEAD OFFICE Lvl 8, 300 Adelaide St, Brisbane | PO Box 10955, Adelaide St, Brisbane Q 4000

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ASX Announcement | 18 June 2015 | Page 1