METRO MINING LIMITED — Capital/Financing Update 2019

Oct 2, 2019

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Bauxite Hills September Production Results

Metro Mining (ASX: MMI) is pleased to provide production and shipping results for the month of September.

	Bauxite Hills Production Results
Period	July	August	Sept	QTD	YTD	2019 Guidance
Bauxite Mined (WMT)(‘000)	443	476	501	1,420	2,300	3,300 – 3,500
Bauxite Shipped (WMT)(‘000)	463	455	497	1,415	2,251	3,300 – 3,500
Bauxite Mined (WMT per day)	14,286	15,356	16,696	15,435	n/a	N/A
Bauxite Shipped (WMT per day)	14,923	14,689	16,565	15,379	n/a	N/A

September was another excellent month for Bauxite Hills with production levels across all areas being the strongest since operations commenced, continuing a very successful quarter. Greater consistency and therefore improved productivity was evident across all aspects of the logistics chain. Mining and haulage is benefitting from excellent machine availabilities, the barge loading facility is now sustainable at higher levels, and shiploading rates have been assisted by better productivity and returning vessels that have previously performed strongly.

Metro Mining Managing Director and Chief Executive Officer, Simon Finnis, said:

“The mining and shipping results continue to improve as we build our operational knowledge and experience. Recent incremental changes to our haulage, loading and transhipping systems are yielding positive results and reflect the commitment and dedication of the entire team, particularly in identifying areas of process improvement.

The mine is ideally placed to maintain current levels for the remainder of the operating year and is on track to meet the production and shipping guidance of 3.3-3.5M WMT for 2019”.

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ASX: MMI | ACN 117 763 443

Further Info: P : +61 (0) 7 3009 8000 | E : info@metromining.com.au |W: www.metromining.com.au

Contact: Simon Finnis, Managing Director & CEO | Mitchell Petrie, Company Secretary Duane Woodbury , CFO Address: Level 2, 247 Adelaide St, Brisbane | GPO Box 10955, Brisbane Q 4000

FORWARD LOOKING STATEMENT Statements & material contained in this ASX Release, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining, industry growth or other trend

projections are, or may be, forward looking statements. Such statements relate to future events & expectations and, as such, involve known and unknown risks & uncertainties. Although reasonable care has been taken to ensure facts stated in this Release are accurate and/or that the opinions expressed are fair & reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results & developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this Release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

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ASX Announcement | 03 October 2019 | Page 1