Ann: High Grade Cobalt Project Acquired in Quebec, page-6

Metals Australia Acquires High Grade Cobalt Project in Quebec
Highlights:
• Metals has executed an agreement to acquire the Lac du Marcheur Cobalt Project
(the “Project”) in the cobalt endowed Laurentian region of southern Quebec, Canada
• The Project is an outstanding high grade cobalt project and complements Metals’
existing portfolio of lithium and graphite projects in Quebec
• The Project contains the Lac Pauze and Lac Pauze-Ouest cobalt-copper-nickel
prospects and is on strike with a number of other documented prospects containing
high grade cobalt-copper-nickel
• Various local prospects, within and in close proximity to the Project, containing
pyrrhotite, pentlandite and chalcopyrite mineralisation have returned assays of up
to 0.25% cobalt, 1.11% copper, 1.23% nickel and 12.7 g/t silver in surface grab and
trench samples
• Trench samples taken from the Lac Pauze area of the Project returned assays up to
0.18% cobalt, 0.23% copper and 0.34% Ni
• Hinterland Metals’ (TSX-V: HMI) Chilton Cobalt property lies between, and borders
the north and south blocks of the Project
• Previous work in the area includes geological mapping, geochemical sampling and
an airborne EM survey carried out by the Ministère de l’Énergie et des Ressources
Naturelles and the Geological Survey of Canada
• The price of cobalt metal has recently increased to over US$54,000/t as global
shortages of this vital input in the production of lithium-ion batteries has forced
offtake customers and end-users to source new production opportunities
• The escalation in demand for lithium-ion batteries across the globe has created a
significant requirement for high grade cobalt, with a particular focus on sourcing
‘clean’ production from safe operating jurisdictions, such as Quebec
• The importance of cobalt metal is growing due to the mass global adoption of
lithium-ion batteries as an energy storage solution and the transformational shift to
renewable energy sources
Diversified metals exploration company, Metals Australia Ltd (ASX: MLS) is pleased to announce
that the Company has executed an agreement to acquire the high grade Lac du Marcheur Cobalt
Project, located in Quebec, Canada, thereby continuing its technological metals FOCUS.