METRO MINING LIMITED — Investor Presentation 2014

Dec 1, 2014

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A Multi-Commodity Resource Company Presented by CEO Michael O’Brien

Presentation to Gold Coast Investor Showcase | 2 December 2014

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DISCLAIMER

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Statements and material contained in this Presentation, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining Limited and Cape Alumina Limited, 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. Graphs used in the presentation (including data used in the graphs) are sourced from third parties and Metro Mining/Cape Alumina has not independently verified the information. Metro Mining is at an early development stage and while it does not currently have a operating bauxite mine it is taking early and preliminary steps (such as but not limited to scoping studies etc.) that are intended to ultimately result in the building and construction of an operating mine at its project areas. Although reasonable care has been taken to ensure that the facts stated in this Presentation 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 Presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

Technical information about the ore resources on any Cape Alumina project in this document had been compiled by Neil McLean,

who is a consultant for Cape Alumina Limited, a Fellow of the Australian Institute of Mining and Metallurgy (F. AusIMM) and is a competent person and has relevant experience to the mineralisation being reported on to qualify as a Competent Person as defined by the 2004 and 2012 editions of the Australasian Code for Reporting of Minerals Resources and Reserves. Neil McLean consents to the inclusion in the document of the matters based on the information in the form and context in which it appears. The resource information in this document has been released to the ASX. The information in this document that relates to all resources (other than DSO resources) was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The information in this document that relates to the DSO resource on the BH6 plateau of the Bauxite Hills project has been prepared and disclosed under the JORC Code 2012.

With reference to resources in the Metro Mining Resource and Reserve table excluding Bundi, Juandah and Coolumbola Resources.

The information in this Announcement that relates to the Compilation of existing data and Exploration Results is based on information compiled by Mr Ed Radley who is a Member of the Australian Institute of Mining and Metallurgy (MAusIMM) (Membership No 300512). Mr Ed Radley is an independent Geological Resource Consultant retained by Metro Mining Limited. Mr Ed Radley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Ed Radley has consented in writing for inclusion in this announcement the matters based on the information in the form and context it appears.

With reference to the Bundi, Juandah and Coolumbola Resources in the Metro Mining Resource and Reserve table

The information in this Report that relates to the Compilation of existing data and Exploration Results is based on information compiled by Mr Ed Radley who is a Member of the Australian Institute of Mining and Metallurgy (MAusIMM) (Membership No 300512). Mr Ed Radley is an independent Geological Resource Consultant retained by Metro Mining Limited. Mr Ed Radley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Ed Radley has consented in writing for inclusion in this announcement the matters based on the information in the form and context it appears.

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Metro Mining GC Investor Showcase 02 Dec 2014

RECENT MERGER CREATES METRO MINING LIMITED ODE (ASX C : MMI/MTE)

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MetroCoal Limited (ASX:MTE) with over 4 billion tonnes of thermal coal resources in the Surat Basin and a substantial cash holding merged with Cape Alumina Limited (ASX: CBX) with extensive bauxite resources in Cape York.

The merger made the new company, Metro Mining, a considerably more attractive investment vehicle as it becomes a diversified bulk commodities company.

• Having Commodity Diversification Provides

• Greater resilience through commodity cycles;

• Strengthens the balance sheet;

• Increases trading liquidity, and;

• .

• Enhances access to capital markets

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STRATEGY TO DELIVER SHAREHOLDER VALUE

• Develop the Bauxite Hills Project Over the Next Two Years.

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• Metro is one of the few juniors on the ASX with a project with a short lead time to production.

• With exploration tenements covering 1400 km[2] Metro Mining has growth potential.

• Coal Assets with Thermal Coal Resource over 4 Billion Tonnes Resource will be Preserved until the Thermal Coal Market Improves.

• The thermal coal Market will recover

• When?

• The coal assets provide an attractive long term opportunity.

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BAUXITE HILLS THE NEXT SUBSTANTIAL MINING OPERATION IN THE CAPE YORK PENINSULA

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 The Right Commodity

• The global consumption of aluminium is growing with strong growth in China

• There is increasing demand for bauxite in the growing Chinese market.

• Bauxite demand is expected to outstrip supply due to the Indonesian ban on bauxite export.

• China is building a diversified supply base.

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BAUXITE IS THE PRIMARY ORE OF ALUMINIUM APPROXIMATELY 5 TONNES OF BAUXITE IS REQUIRED TO PRODUCE 1 TONNE OF ALUMINIUM

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ALUMINIUM IN THE MOTOR INDUSTRY A 20 FOLD INCREASE BY 2025

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“Study Finds Seven Out of 10 New Pickup Trucks Produced in North America Will be Aluminum-Bodied by 2025*

Explosive Growth Expected for Aluminum-Bodied Cars and Trucks; Reaching 18 Percent Within a Decade

Detroit, June 10, 2014: By 2025, more than 75 percent of all new pickup trucks produced in North America will be aluminum-bodied, according to a survey of automakers conducted by Ducker Worldwide.

The study finds that every leading automaker will have numerous aluminum body and closure programs by 2025. As the material mix for body and closure parts continues to change dramatically in the years to come, use of aluminum sheet for vehicle bodies will increase to 4 billion pounds (1.8 million tonnes) by 2025, from 200 million pounds (90 thousand tonnes) in 2012”.

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• from a release by “the Aluminium Association”

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CHINESE ALUMINIUM PRODUCTION ALUMINIUM PRODUCTION DRIVES BAUXITE CONSUMPTION

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Source: Bauxite and Alumina Long Term Market Outlook; July 2014, CRU
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Therefore an increase of 15 Million tonnes aluminium production requires approximately 75 million tonnes of bauxite.

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WORLD BAUXITE SUPPLY & DEMAND KNOWN AND UNKNOWN MINES NEEDED TO BRIDGE GAP

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Potential Supply Shortfall Emerging from 2015

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BAUXITE VOLUMES IMPORTED INTO CHINA

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01
Source: ABX Quarterly Report June 2
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Indonesia, the largest global exporter implemented an export ban on bauxite. This presents a major opportunity for Bauxite Hills to replace a portion of this supply.

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PRICES FOR IMPORTED BAUXITE INCREASING

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Based on growing demand from China and limited supply opportunities Chinese imported bauxite prices have grown dramatically over the past five years.

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BAUXITE HILLS THE NEXT SUBSTANTIAL MINING OPERATION IN CAPE YORK

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 The Right Location

 Western Cape York has highquality, export-grade bauxite with a high alumina content when compared to some other Australian bauxite provinces.

 China currently imports over 10Mtpa of bauxite from Rio’s Weipa mine and its bauxite quality and characteristics are well known to the Chinese and other international alumina refineries.

• The proposed mine at Bauxite Hills is located close to international shipping routes with low freight costs to China.

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CAPE YORK BAUXITE HAS A FREIGHT ADVANTAGE

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• Bauxite is available from West Africa & South America however ocean freight costs are high.

• Ocean freight rates from Cape York to China are much lower.

Source: Bauxite and Alumina Long Term Market Outlook; July 2014, CRU

LOCATION OF CHINESE ALUMINA REFINERIES

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BAUXITE HILLS PROJECT

• Bauxite Hills project is being planned as a 2Mtpa operation with low operating costs and low capital.

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• Shallow, free-digging, high quality bauxite with minimal overburden thickness and very low strip ratios;

• Bauxite Hills has no conflicting land use;

• There is strong local support for development in the area;

• The resource is suited to Direct Shipping – no beneficiation.

• Metro Mining has sufficient cash to progress Bauxite Hills through approval pathway

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BAUXITE HILLS RESOURCE

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Bauxite Hills Area (Inferred Tonnes)	In-situ dry tonnes (Mt)	Beneficiated dry tonnes (Mt)	DSO In-situ dry tonnes (Mt)	Beneficiated bauxite qualities	Beneficiated bauxite qualities	DSO bauxite qualities	DSO bauxite qualities
				Total SiO2 (%)	Total Al2O3 (%)	Total SiO2 (%)	Total Al2O3 (%)
BH1	29.4	20.4		8.2	51.6
BH2	8.7	5.8		10.0	52.9
**BH6 ***	22.1	15.1	19.85	11.2	51.2	12.2	51.2
TOTAL	60.2	41.3	19.85	9.6	51.6	12.2	51.2

• Trihydrate available alumina for BH6 DSO resource is 39.3% (gibbsite alumina + kaolinite alumina – low temperature desilication product alumina) at 150[0] C)

 Reactive silica for BH6 DSO resource is 6.7% (at 150[0] C)

 A DSO resource for BH1 is currently being developed

• BH2 does not form part of the immediate mine plan but provides significant upside for future development

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MINING IS SHALLOW OPEN CUT WITH NO “CONTAMINANTS”

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• Average bauxite thickness at BH6 is 1.7m and the average overburden thickness is 0.5m

• Average bauxite thickness at BH1 is 2.4m and the average overburden thickness is 0.4m

Schematic Bauxite Profile at BH6

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PROPOSED BARGE LOADING SITE

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Proposed Barge Loading Site
Source: Superior Industries, Inc. (http://superior-ind.com)
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PROPOSED BARGE LOADING SITE

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• Bauxite ore will be loaded into shallow draught barges about 12km upstream

• Transhipment will take place approx. 12km offshore

• Bauxite will be loaded into

supermax or panamex vessels using grapple cranes

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WORKING WITH THE LOCAL COMMUNITY

 We work collaboratively with all stakeholders to deliver sustainable, profitable bauxite mining projects that also have positive social, economic and environmental outcomes for the local community and broader Australian public.

• We work with the local community to protect cultural heritage and the local environment.

 We create employment and business opportunities and we will ensure that our projects generate genuine economic and social benefits for the local community.

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BAUXITE HILLS PROPOSED DEVELOPMENT PATH

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• Cost to approvals are estimated to be A$4.5M

• Environmental work has commenced to meet the planned schedule

• Capex currently estimated at A$40-80M

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Draft – Subject to Board approvals and further development
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EXPLORATION TENEMENTS

Cape Alumina (now owned by Metro Mining) owns 100% of the following project areas in Cape York:

 Bauxite Hills – 60Mt with demonstrated DSO product  Pisolite Hills – on hold  Vrilya – Further exploration required  Mission – Exploration required  Duyfken – Exploration required  Weipa Satellites – Exploration required  Worbody Point – Exploration required

Cape Alumina (now owned by Metro Mining) also has tenements in Central Queensland

Cape Alumina expected to receive a progress payment of A$1.0 Million by mid-2015 from the sale of Hey Point. (refer 2 Nov 2012 ASX announcement)

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COAL IN THE FUTURE THE SURAT BASIN THERMAL COAL RESOURCE

• Surat Basin coal resource provides an ideal source of high quality thermal coal.

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• Metro Mining resource 4.4 billion tonnes - Focus on Bundi and Columboola Projects.

• Key issue is the construction of rail infrastructure.

• Coal tenements will be retained in good standing until the thermal coal market recovers .

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METRO’S COAL RESOURCE

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Project	Metro Mining Ownership	Resources (Mt)	Resources (Mt)	Resources (Mt)	Reserves (Mt)	JORC CODE
		Indicated	Inferred	Total
Bundi (includes Juandah)	100%	296	1705.6	2001.6		2012
Columboola	49%	242.6	1515.0	1757.6		2012
Goombi	49%	4.9	13.8	18.7	26.2	2004
Dalby West	100%		520	520		2004
Norwood	100%		156	156		2004
TOTAL		543.5	3910.4	4453.9	26.2
MTE ASX Announcement 24 Oct 2013 – Bundi Project Update MTE ASX Announcement 19 July 2012 – Bundi Resource Upgrade and Project Update MTE ASX Announcement 9 Dec 2011 – Dalby West Project – Maiden Inferred Resource of 520Mt MTE ASX Announcement 6 Sep 2012 – Maiden Indicated Resource for Columboola JV plus 26% increase in Inferred Resource MTE ASX Announcement 19 Dec 2012 – Goombi Maiden Reserve Announced

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A STRONG BOARD OF DIRECOTRS

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Chairman Stephen Everett

40+ years Board & Management resource experience in Australia & overseas. Extensive management experience in production & project management, marketing, corporate restructuring, debt/equity financing and government relations. Held Executive positions as MD of private & publicly listed companies and was Chairman of BeMaX Resources NL, Australian Solomons Gold Ltd, JMS Civil & Mining Pty Ltd and IronRidge Resources Ltd. Current Chairman of Global Resources Corporation Ltd.

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Joined Board 2012

Director Phil Hennessy Joined Board 2014.

An experienced Company Director and Adviser to Public, Private & Not for Profit organisations. 30+ years’ experience in all aspects of corporate financing and company reconstruction across a variety of industries. 13 years as KPMG Qld Chairman and Chair of KPMG’s Qld Audit Committee Institute (forum for Chairs, Audit Committee Chairs & NEDs focus on emerging trends and best practices for Public Company Boards). Brings knowledge and experience in driving good governance, cohesive & effective collaboration, effective processes and communications with shareholders & stakeholders.

Director Lindsay Ward

25+ years’ experience in executive positions in mining, exploration, mineral processing, ports, rail, power generation, gas transmission and logistics. Current CEO of Tasmanian Gas Pipeline that links Victoria to Tasmania and previously MD of Dart Mining and GM of Patrick Ports and Pacific National Bulk Rail.

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Director Wang Dongping

Chairman of Dadi Engineering Development Group, China's largest coal industry engineering group and has worked at highest level in the Chinese coal industry for 30 years. Highly renowned processing expert and prominent in the Chinese coal industry. Brings intimate knowledge of modern coal process technology.

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THE METRO MINING INVESTMENT OPPORTUNITY

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Metro Mining Presents An Opportunity To Invest In The Early Stage Development Of A Bauxite Project In Cape York With The Added Long Term Potential In Extensive Thermal Coal Resources.

NAME OF HOLDER	HOLDINGS	%
DADI Engineering Development (Group)	47,250,000		18.0%
Balanced Property Pty Ltd	41,567,849		15.0%
China Xinfa Group Corp	22,420,401		8.0%
Mr Gregory Ian Willims	18,819,863		7.0%
Bondline Limited	16,050,223		7.0%

MARKET CAP A$9.0 Million

SHARES ON ISSUE 289 million

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