METRO MINING LIMITED — Capital/Financing Update 2019

Sep 3, 2019

==> picture [537 x 129] intentionally omitted <==

----- Start of picture text ----- ASX ANNOUNCEMENT04 September 2019----- End of picture text -----

Bauxite Hills August Production Results

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

	Bauxite Hills Production Results	Bauxite Hills Production Results
Period	July	AugustQTD	YTD	2019 Guidance
Bauxite Mined (WMT) (‘000)	443	476919	1,818	3,300 – 3,500
Bauxite Shipped (WMT) (‘000)	463	455918	1,754	3,300 – 3,500
Bauxite Mined (WMT per day)	14,286	15,35614,821	n/a	N/A
Bauxite Shipped (WMT per day)	14,923	14,68914,806	n/a	N/A

August was another consistent month for Bauxite Hills with tonnes mined and shipped only marginally less than July’s result. The continued high levels of operational performance at the mine highlights the positive impact of upgrading the haulage and transhipment fleets and duplicating the screening capability over the wet season.

The Bauxite Hills team continue to perform strongly with the operation now performing at above budgeted levels.

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

• “The mining and shipping results continue to be pleasing and reflect the dedication and hard work of the entire on–site team. It is a credit to them that we’re maintaining our recent strong results, building on our operating experience and the improved work systems which have enhanced our productivity.

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

==> picture [49 x 52] intentionally omitted <==

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.

==> picture [536 x 25] intentionally omitted <==

ASX Announcement | 04 September 2018 | Page 1