Ann: Metallum achieves El Roble's highest ever copper result, page-4

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Perth-based copper developer Metallum Ltd (ASX: MNE) is pleased to announce that follow-up sampling at
the San Sebastian exploration tunnel has returned high grade copper and gold results. San Sebastian is part of the El Roble Copper Project in Chile, where the Company has mapped more than 60 kilometres of mineralised veins.

The Company has begun work installing an exploration tunnel along the length of the San Sebastian
vein, and these assays have defined high-grade copper and gold mineralisation over more than 30 metres.
Metallum entered an option to acquire the San Sebastian concession in August 2014 (ASX announcement 27 August 2014), adding to its portfolio at El Roble (Figure 1). It is currently mining and trucking material from the Panga mine and awaiting permits to commence similar operations at the nearby Paraguay mine, as well as San Sebastian.

San Sebastian covers a major mineralised structure within the El Roble vein system, and the Company has
installed an exploration tunnel along the mineralised vein to assess the vein for future mining. To date,
Metallum has installed approximately 35 metres of tunnel along the vein on the 1040 Level and delineated a
30 metre long high-grade copper and gold zone. The Company has completed follow-up sampling to confirm
mineralisation previously reported (ASX announcement 1 October 2014) to verify results obtained from the
local laboratory and to test for gold content.

Metallum Managing Director Zeff Reeves said: “These results demonstrate the very high-grade nature of
mineralisation at San Sebastian. We have just obtained the highest ever copper result from any work we have done at El Roble, which is 35% copper over 0.55m width.

“In addition, the vein contains good gold results, averaging more than 2.00g/t gold, with the highest grade
reported to date of 16.15g/t. We’ve applied for a mining licence and this lens of mineralisation will provide a
good zone to commence vertical mining up to the 1090 Level, approximately 40 metres above the tunnel
we’re installing, once we receive the permit.”