RENT.COM.AU LIMITED - Capital/Financing Update 2014

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ASX Announcement Metals of Africa Ltd

MTA acquires 90% of three prospective base metal projects located in Gabon

Summary

31 March 2014

Contact Details

Ms Cherie Leeden Executive Director E: [email protected]

James Moses Media and Investor Relations Mandate Corporate T: +61 420 991 574 [email protected]

MTA Capital Structure

Shares on Issue: 76,040,001 Shares Trading: 48,535,647

Listed Options: 53,280,001 ($0.15, 07/01/2017)

Unlisted Options 5M ($0.25; 30/6/15) 5M ($0.40; 30/6/15) 4M ($0.25; 31/12/15) 2.49M ($0.15; 3/12/16) 600k ($0.168; 3/12/16 5M ($0.093; 31/3/17)

MTA Board

Gilbert George Non Exec Chairman

Cherie Leeden Executive Director

Brett Smith Non Exec Director

Steven Wood Company Secretary

ASX Code : MTA

Metals of Africa has acquired 90% of three licences located in Gabon via a no cash transaction. Two of the licences are granted.
The licences are prospective for a range of base and precious metals.
Lead (Pb), Zinc (Zn) and Copper (Cu) remains MTA’s core focus.
On‐ground exploration to commence around mid‐May 2014.

Metals of Africa Limited (ASX: MTA) is pleased to advise shareholders that it has re‐ negotiated and concluded a transaction with Select Exploration Limited (ASX: SLT) to acquire three exploration assets located in Gabon. MTA will issue SLT with 5,000,000 unlisted options ($0.093, 31 March 2017) as consideration for the acquisition. Upon completion of the transaction, MTA will hold 90% of the Gabon Projects in a joint venture with Havilah Consolidated Resources (Pty) Ltd (“HCR”). HCR will receive a 10% free carried interest in the projects for a two year period. After receiving a two year free carry, HCR will have the option to contribute proportionally or dilute to a net smelter royalty (NSR) of 0.75%.

Projects Overview

The Lastourville and Kroussou licences have been granted whilst the Mboungou licence is currently under application (Table 1). Combined, the three projects represent a significant exploration area of 6,886 sq km (of which 5,720 sq km is granted). The projects are considered prospective for a range of target commodities based on a combination of government geological mapping data, airborne geophysics data and historical report data.

MTA intends to conduct surface exploration work at the Kroussou and Lastourville projects, commencing in mid‐May. The initial work program will include geological mapping in conjunction with a rock chip/soil sampling work program.

Project	Licence Status	Area(km2)	Target Commodities
Mboungou	Application	1,166	Cu‐Pb‐Zn‐Ag‐Au‐Co
Kroussou	Granted	1,502	Pb‐Zn‐Ag‐Cu
Lastourville	Granted	4,218	Cu‐Pb‐Zn‐Au‐Mn‐REE‐U

Table 1. Gabon Exploration Project Summary

AUSTRALIA

945 Wellington Street,

West Perth, Western Australia 6005 T +61 8 9322 7600 F +61 8 9322 7602 E [email protected]

MOZAMBIQUE

Edificio Solar das Acacias

Av. Julius Nyrere, 4000 Lojas 05 e 06 Maputo

www.metalsofafrica.com.au

ABN 75 152 071 095

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Figure 1. Summary map of MTA’s three projects located in Gabon (MTA 90% HCR 10%).

AUSTRALIA 945 Wellington Street, West Perth, Western Australia 6005 T +61 8 9322 7600 F +61 8 9322 7602 E [email protected]

MOZAMBIQUE Edificio Solar das Acacias Av. Julius Nyrere, 4000 Lojas 05 e 06 Maputo

www.metalsofafrica.com.au ABN 75 152 071 095

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Kroussou Project Summary ‐ Primary targets: Pb, Zn, Ag, Ba

The Kroussou licence boasts numerous base and precious metal occurrences, including a handful of historical drill holes that intersected Pb‐Zn mineralisation, which requires follow‐up work. The Kroussou licence contains a historical resource target (which is not JORC compliant) by the French Geological Survey (BRGM) of ‘several hundred thousand tons of metal’ for one of the mapped mineralised lobes named the Dikaki lobe (Figure 3). The licence encompasses a 70km long strike length of geological potential.

Two wild cat holes were drilled within the licence in the 1960’s outside of the Dikaki lobe and it was reported these holes ‘ intersected relatively well mineralised arkosic layers, although not assayed. This underlines the ubiquitous distribution of galena in the area and suggests that by systematic exploration economic deposits could be discovered’ ( 2002 Martini & Makanga, Geology and Metallogeny of Gabon, Council for Geoscience publication for the Ministry of Mines Gabon ).

The Pb‐Zn occurrences are hosted by Lower Cretaceous strata along the eastern margin of the Gabonese coastal Cottier Basin. The main mineralisation comprises horizontal stratiform lenses with Pb‐Zn minerals occurring as disseminations, nodules, and short veins and veinlets along bedding planes and joints. These are hosted by coarse, detrital sediments.

The mineralisation model of deposition appears to be sub‐contemporaneous with sedimentation – carbonate hosted Mississippi Valley Type (MVT) or an extensional MVT system related to Cretaceous rifting, such as the Lennard Shelf.

The existence of mineralisation in drill holes away from the Dikaki lobe in the Cotier basin support laterally extensive and flat lying Pb/Zn mineralised layers, providing excellent resource upside in terms of tonnage potential.