2021 RENISON MINERAL RESOURCE UPDATE Metals X Limited is pleased to provide an update of the Mineral Resources for the Renison Tin Operation in Tasmania. Renison is 50% owned by Metals X through the Bluestone Mines Tasmania Joint Venture HIGHLIGHTS (100% basis) • New Mineral Resource estimations completed for Renison using data to 31 March 2021. • The continuing commitment to Mineral Resource development drilling has once again delivered strong results with defined tin in Measured and Indicated Resources increased by 1,500 Sn tonnes (1%) and average tin grades increased by 2% (0.04% Sn) when compared to 31 March 2020 (after mining depletion). o Total Renison Measured, Indicated and Inferred Resource of 18.2 Mt at 1.65% Sn for 301,500 tonnes of contained tin. • 7,000 Sn tonnes (3%) increase in Measured and Indicated Resources from 255kt of contained tin to 262kt of contained tin. • Resource definition and grade control drilling continues with two underground and one surface rig currently in operation. • The on-going exploration program aims to increase the Mineral Resource, net of depletion, each year with a range of exploration targets identified. The Renison Life-of-Mine Plan update incorporating a further update of the Mineral Resource and an update of the Ore Reserve will be completed in Quarter 4 2021.
Executive Director, Mr Brett Smith, commented: “Renison is a world class tin deposit and Australia’s largest primary tin producer. The results from the 2021 Mineral Resource represent yet another outstanding year for the operation. Going forward, our aim at Renison is to continue to increase Mineral Resources net of depletion each year to maintain significant mine life and I commend the ongoing excellent work of the BMTJV team in this regard. We look forward to the updated Life of Mine plan later in the year which is expected to continue to support a mine life in excess of 10 years. The influence of strong tin demand and robust tin prices will be assessed in this plan update.” This announcement has been authorised by the Board of Directors of Metals X Limited ENQUIRIES Mr Brett Smith Executive Director E: [email protected]
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