Ann: Spectrum Seeks Expedition of Venus Claim, page-2

Spectrum seeks expedition of Venus’ claim in relation to Penny West

The Board of Spectrum Metals Limited (‘SPX’ or ‘the company’) advises that as the market is
aware, on 10 October 2019, Venus Metals Corporation Ltd (VMC) commenced proceedings
against (amongst others) Spectrum Metals Limited (SPX) and its wholly owned subsidiary, Zebra
Minerals Pty Ltd (Zebra), with respect to Zebra’s acquisition of mining tenements at Penny West.
All defendants had lodged appearances in these proceedings by 14 October 2019. Accordingly,
VMC is required to file and serve its statement of claim by no later than 28 October 2019.

Spectrum looks forward to receipt of the statement of claim by the required deadline and intends
to file and serve its defence and any counterclaim to the proceedings as soon as practicable
thereafter.

The proceedings will be before the Court on 31 October 2019 at which time Spectrum will be
seeking trial programming orders consistent with its intention to have the matter heard in the
first quarter of 2020.

Time to particularise your claim VMC, always the tricky part if it's not completely watertight. Obviously SPX is not going to just settle at this point. At least that's a show of confidence.