announcement great news

METALS ‘OPES PRIME’ EXPOSURE RESOLVED

The Directors wish to confirm that Metals Australia Ltd (‘Metals’), as far as it is aware, has no
further exposure to the Opes Prime Group Ltd (‘Opes Prime’).
The Directors became aware that the liquidators to Opes Prime held approximately 6.6 million shares in Metals, which were offered for sale.

These shares were in no way associated with the
Directors or management of the company and, according to our enquiries, all have now been sold
on the open market.

Metals remains in a strong financial position. It has active exploration programmes at its Mile 72
uranium project in Namibia and its Manindi Zinc Project in Western Australia and has adequate
cash resources to meet its current objectives.

Exploration is continuing at both projects and further announcements will be released as results
come to hand.

Yours faithfully,
Norman Grafton
Company Secretary
Metals Australia Ltd
For further information please contact:
Norman Grafton - Company Secretary Phone (08) 9481 7833
Or consult our website: www.metalsaustralia.com.au