METRO MINING LIMITED — Capital/Financing Update 2019

Jul 3, 2019

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June Quarter Production Results

Metro Mining (ASX: MMI) is pleased to provide production and shipping results for the June Quarter.

Bauxite Hills Production Results	Bauxite Hills Production Results	Bauxite Hills Production Results
Period	April*	May	June	Quarter
Bauxite Mined (WMT) (‘000)	124	329	427	880
Bauxite Shipped (WMT) (‘000)	151	311	374	836
Bauxite Mined (WMT per day)	6,249	10,601	14,231	n/a
Bauxite Shipped (WMT per day)	8,401	10,034	12,467	n/a

*NB: April was a partial month due to Cyclone Trevor and ship loading commenced on 13 April 2019

The Bauxite Hills Mine experienced a steady ramp-up during the quarter and has now reached the budgeted operating rates and achieving consistent results on a daily basis.

As outlined in the recent Operations Update (refer ASX Announcement 11 June 2019), Metro encountered some unexpected adverse swell conditions starting late May. These conditions gradually improved and returned to expected conditions around 10 June 2019. From this point onwards, daily shiploading rates have averaged over 15,000 WMT per day, including a daily record of 20,835 WMT.

Metro is confident of maintaining these levels throughout the year and remains on track to meet its production and shipping guidance of 3.3-3.5M WMT.

Detailed information will be contained in the June Quarterly Activities Report.

Commenting on this quarterly operating performance, Metro’s Managing Director and Chief Executive

Officer, Mr Simon Finnis, said:

“While it was a challenging start to the quarter, I am extremely proud of how the site team and our contract partners responded to resolving issues as they arose. All aspects of the operation have finished the quarter performing strongly, and we have laid the groundwork to meet our current production guidance”.

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ASX Announcement | 04 July 2018 | Page 1

Daily Ship Loading Rates June (WMT per day)

25,000

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----- Start of picture text ----- 20,000Daily Average for remaining 2019 to reach Production Guidance 15,000Adverse swell conditions 10,000 5,000 -Tonnes Loaded----- End of picture text -----

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ASX: MMI | ACN 117 763 443

For 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 Sec Duane Woodbury , CFO Registered Office: Level 2, 247 Adelaide St, Brisbane | GPO Box 10955, Brisbane Q 4000

FORWARD LOOKING STATEMENT Statements and material contained in this ASX Announcement, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining Ltd, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Although reasonable care has been taken to ensure facts stated in this Announcement are accurate and or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this Announcement 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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