ZEOTECH LIMITED — Capital/Financing Update 2018

Jul 31, 2018

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1 August 2018

METALSEARCH APPOINTS 1620 CAPITAL AS ITS CORPORATE ADVISER

Metalsearch Limited (“Company”) announces it has engaged 1620 Capital Pty Limited (“1620 Capital”) as its Strategic Adviser.

Perth-headquartered 1620 Capital is a corporate advisory firm with a successful track record of advising ASX-listed and UK-listed mining and exploration companies on investments in Africa’s mining and metals sector.

1620 Capital’s management have each been actively involved in Africa’s natural resources sector for over 20 years and the global corporate finance and investment banking sector for more than 30 years. In that time, they have built a clear track record in identifying high-value resource project opportunities for clients and in advising on supporting debt and equity funding structures, joint-venture arrangements and strategic investment partnerships.

The Company has appointed 1620 Capital to advise and identify, on behalf of the Company, new advanced and brownfield project opportunities in Africa and the introduction of strategic joint venture partners.

The period of the engagement with 1620 Capital is for an initial period of 12 months, with an option to extend it further. The remuneration structure for the engagement is weighted toward equity incentives linked to success.

The Company will pay a monthly retainer fee and, subject to shareholder approval, issue 1620 Capital with 40 million performance rights, which will vest based on achievement of a sustained rise in the price of the Company’s shares trading on the ASX. The milestones for the performance rights are as follows:

• i. 10 million performance rights issued if the Company’s share price is equal to or higher than 3.5 cents per share for a minimum of 10 consecutive trading days;

• ii. 10 million performance rights issued if the Company’s share price is equal to or higher than 4.5 cents per share for a minimum of 10 consecutive trading days;

• iii. 20 million performance rights issued if the Company’s share price is equal to or higher than 5.5 cents per share for a minimum of 10 consecutive trading days;

The Company considers that the milestones listed above are closely aligned with shareholders’ interests.

Robert Downey Chairman

Metalsearch Limited | ASX: MSE

Level 4, 216 St Georges Tce, Perth WA 6000 Australia | PO Box 7315, Cloisters Square WA 6850 Australia P: +61 8 6268 2622 | F: +61 8 6268 2699 | W: metalsearch.com.au

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About 1620 Capital Pty Limited

1620 Capital is a corporate advisory firm focused on financial solutions and investments in Africa’s mining and metals sector. 1620 Capital’s management team have a successful and proven track record in Africa and have a broad mix of international investment banking and capital markets experience coupled with detailed geological, mining and mineral processing knowledge and an international network in the mining and financial markets.

1620 Capital is active in identifying advanced and brownfield mining and exploration projects throughout central and southern Africa for both private and publicly listed companies and negotiating and arranging and securing strategic funding and partnerships from the international debt and equity markets.

1620 Capital is headquartered in Perth and with offices and management based in Johannesburg, London, Lubumbashi and Kinshasa.

Metalsearch Limited | ASX: MSE

Level 4, 216 St Georges Tce, Perth WA 6000 Australia | PO Box 7315, Cloisters Square WA 6850 Australia P: +61 8 6268 2622 | F: +61 8 6268 2699 | W: metalsearch.com.au