VYSARN LIMITED — Board/Management Information 2012

Jul 17, 2012

MHM Appoints Phil Thick as Managing Director & CEO

ASX Release – 18 July 2012

• Phil Thick appointed Managing Director and Chief Executive Officer

• • Frank Rogers assumes role of Technological Director in a continued executive board position

• Board and management restructure effective immediately

• Another independent Non-executive Director to be appointed in the near future

• US-based Managing Director to be appointed next year

The Board of MHM Metals Limited (ASX:MHM) has appointed Mr Phil Thick as Managing Director and Chief Executive Officer, with Frank Rogers assuming the role of Technological Director in an ongoing executive board role. These changes have been implemented and are effective immediately.

As the focus of MHM’s business shifts to the US over the next 12 months with the planned construction of a major processing facility in Kentucky, the company also expects to appoint a US-based Managing Director next year.

The management changes enable Mr Rogers to focus on MHM’s continued technological development with Mr Thick bringing many years experience and a successful track record to the Managing Director’s role.

Frank Rogers said, “Phil is a great asset for the company and his focus and experience are crucial as the company ramps up in Geelong, builds its new Kentucky plant and potential corporate changes with our silica assets.

ASX Codes

MHM, MHMO

Issued Capital

105.9M Ordinary Shares 22.4M Listed Options

Substantial Shareholders

Rogers Southern PL 10% Directors 13% Top Twenty 34%

Directors

Chairman - Basil Conti Managing Director – Phil Thick Executive Director - Ben Mead Executive Director - Simon Wells Executive Director –Frank Rogers

Contact:

PO Box 21 KINGSTON TAS 7051

T: +61 (0)3 6229 9955 F: +61 (0)3 6229 8430 W: www.mhmmetals.com E: info@mhmmetals.com

ABN: 41 124 212 175

“I remain completely committed and engaged with MHM with my focus devoted to commecialising the company’s technologies. Since I founded this company in 2007 we have seen substantial success. Now is the right time to hand the reins to Phil.”

Mr Thick has been given a mandate from the board to provide shareholders with a clear and concise roadmap and timetable in the shorter term for delivering profitable operations in Geelong and to oversee finalisation of financing for MHM’s US expansion.

Mr Thick will continue to strengthen relationships with key project stakeholders and government, and oversee and administer heightened investor and public relations. Mr Thick plans to conduct an Australian investor relations campaign during the coming month to outline the roadmap to maximising profitability.

Mr Thick said, “MHM is in a very exciting place, with the Geelong plant now operating well and agreement reached with Alcoa on landfill processing, four US supply contracts and the aluminium oxide AL80 being successfully exported to Asia.

“The two most important things for MHM to focus on and deliver are to get the Geelong plant operating successfully on a 24 hour basis including stockpile processing, delivering the cash flow we expect, and to finalise design, costing and financing arrangements for the Kentucky plant.

“I believe shareholders have lost some faith in our ability to deliver given some timelines and deadlines not met. There are good reasons for this as we have been developing and improving the technology as we go,

MHM ASX RELEASE - 18 JULY 2012 MHM Management and Board Changes

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but we have to hit our targets and I believe this new structure will make that happen. We are freeing up our key people to focus fully on these key objectives over the coming months.”

Until recently Mr Thick was the CEO and director of WA-based chemical manufacturing and mining services company Coogee Chemicals Pty Ltd, a company that employs 280 staff with operations throughout Australia and south east Asia. Mr Thick has overseen a rapid period of growth in the business over the past four years. Before this Mr Thick spent 20 years with Shell Australia performing sales and marketing roles before branching into engineering and strategy positions including tenure as a senior executive of the board.

Mr Thick’s employment agreement with MHM involves the issue of 500,000 unlisted options, to provide strong alignment with shareholders. The options will be issued pursuant to the existing Employee Share Option Plan, with an agreed exercise price of $1 and an expiration date of 18 July 2017. The issue and terms of these options remains subject to shareholder approval at the company Annual General Meeting in November, or at any earlier meeting of shareholders.

The Board will be adding another independent Non-executive Director in the near future and continues to engage with potential candidates.

FURTHER INFORMATION:

Rudi Michelson Monsoon Communications +61 (0)3 9620 3333 rudim@monsoon.com.au

MHM ASX RELEASE - 18 JULY 2012 MHM Management and Board Changes

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