METRO MINING LIMITED — Capital/Financing Update 2021

May 26, 2021

Market Announcement

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27 May 2021

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Metro Mining Limited (ASX: MMI) – Suspension from Official Quotation

Description

The securities of Metro Mining Limited (‘MMI’) will be suspended from quotation immediately under Listing Rule 17.2, at the request of MMI, pending the release of an announcement regarding negotiations with existing lenders of MMI in relation to a potential bridge financing facility.

Issued by

Alex Sutton

Compliance Adviser, Geology, Listings Compliance (Sydney)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

27 May 2021 ASX Limited

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27 May 2021

Mr. Alex Sutton Adviser - Geology, Listings Compliance ASX Compliance Pty Ltd 20 Bridge Street SYDNEY NSW 2000

Email Alex.Sutton@asx.com.au Copy tradinghaltssydney@asx.com.au

Request for suspension - Metro Mining Limited

Dear Alex

Metro Mining Limited (ACN 117 763 443) (ASX: MMI) ( Metro Mining ) requests that a suspension be applied to its securities under ASX Listing Rule 17.2.

Metro Mining provides the following information for the purposes of ASX Listing Rule 17.2:

1. Further to Metro Mining's request for a trading halt dated 25 May 2021, Metro Mining is not yet in a position to make an announcement regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility ( Announcement ), and requests a suspension be applied to its securities pending the release of the Announcement.

2. Metro Mining requests that the suspension remain in place until the release of the Announcement, which is currently expected to be made by no later than Thursday, 3 June 2021.

3. Metro Mining expects that the suspension will be ended by the making of the Announcement.

4. Metro Mining is not aware of any reason why its securities should not be suspended, or of any other information necessary to inform the market about the suspension.

Yours sincerely Mitchell Petrie Company Secretary