NEOMETALS LTD — Capital/Financing Update 2011

Mar 27, 2011

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97 Outram St West Perth WA 6005 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

28 March 2011

Company Announcements Office ASX Limited Via Electronic Lodgement

Dear Sirs

Share Purchase Plan

The Company’s $10 million Share Purchase Plan ( Plan ) closed on 24 March 2011. The Company received applications for 8,963,961 Shares, representing $5.2 million. Shares will be issued to shareholders in the coming days.

The shortfall of $4.8 million, representing 8,277,418 Shares, will be dealt with in accordance with the Underwriting Agreement between the Company and Bligh Capital Partners Pty Ltd, subject to the underwriting being approved at the Company’s extraordinary general meeting to be held on 6 April 2011.

Yours faithfully

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Jason Carone COMPANY SECRETARY

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