NEOMETALS LTD — Capital/Financing Update 2012

May 6, 2012

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Level 1, 672 Murray St West Perth WA 6005 Locked Bag 8 West Perth WA 6872 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

7 May 2012

Company Announcements Office ASX Limited Via Electronic Lodgement

Dear Sirs

Close of Non-Renounceable pro rata Entitlement Offer

The Company advises that its fully underwritten Entitlement Offer to raise approximately $40 million, announced to ASX on 2 April 2012, closed on 2 May 2012.

A total of 197,959,072 shares were offered to eligible shareholders under the Entitlement Offer. Acceptances and applications for additional shares totalling 74,360,963 shares were received, leaving a shortfall of 123,598,109 shares (pending final clearance of funds). Subscriptions for the shortfall shares are now being dealt with in accordance with the underwriting agreement, through the underwriter or its nominees or placees.

The Company anticipates that the new shares will be allotted on 10 May 2012, with updated holding statements to be dispatched on or about 11 May 2012.

Yours faithfully

Darren Wates

COMPANY SECRETARY

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