HIGH GRADE GOLD-COPPER AT SPINIFEX RIDGE EAST TO BE TESTED IN 2013

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10 December 2012 HIGH GRADE GOLD-COPPER AT SPINIFEX RIDGE EAST TO BE TESTED IN 2013 About Metal Bank Limited Metal Bank Limited is an ASX-listed diversified mineral exploration company.

1 10 December 2012 HIGH GRADE GOLD-COPPER AT SPINIFEX RIDGE EAST TO BE TESTED IN 2013 About Metal Bank Limited Metal Bank Limited is an ASX-listed diversified mineral exploration company. Metal Bank s corporate strategy is to maximise shareholder returns through a combination of exploration success and quality project acquisition. Metal Bank s key project is the highly promising Spinifex Ridge East molybdenum, copper, iron and gold project adjacent to Moly Mines Ltd s world class project. Australian Securities Exchange HIGHLIGHTS Rockchips in 2012 returned high grade gold (up to 30.8g/t), silver (154g/t) and copper (6.54%) Sampling of BC7 geophysical target also hit elevated gold-silver-copper Located along strike from Bamboo Creek Gold Mine and Spinifex Ridge Molybdenum Deposit Exceptional gold and platinum group metal (PGM) grades recently reported by Haoma at nearby Bamboo Creek Mine Metal Bank planning follow-up sampling program for early 2013 to define extent of goldsilver-copper mineralisation and potential for PGMs Code: MBK Capital Profile Shares on issue 59.5m Contact Guy Robertson Company Secretary Tel: Mark Westfield Investor Relations Tel: Mob: +61 (0) Metal Bank Limited (ASX code: MBK) is pleased to announce that following a review of encouraging high grade sampling results from the 2012 fieldwork at the Spinifex Ridge East project, a follow up program is being planned for early The Spinifex Ridge East Project consists of 2 granted exploration licences EL45/2596 and EL45/3099 (80% MBK). The project is located approximately 50km northeast of Marble Bar and 10km west of Haoma Mining s (ASX: HAO) Bamboo Creek Gold Mine, in northwest Western Australia (Figure 1). The project is positioned within a well endowed mineral district, also only 1km east of Moly Mines (ASX: MOL) world class Spinifex Ridge molybdenum-copper (Mo-Cu) resource and iron ore mining operations. Metal Bank Limited ABN: Telephone: Facsimile: info@metalbank.com.au Level 9, 50 Margaret Street, SYDNEY NSW 2000 PO Box R933 Royal Exchange, NSW 1225 Australia 1

The Bamboo Creek goldfield, and related shear zone, was historically one of the major gold producers in the Pilbara region (over 250,000 oz Au discovered and mined).

2 The Bamboo Creek goldfield, and related shear zone, was historically one of the major gold producers in the Pilbara region (over 250,000 oz Au discovered and mined). Additionally, the Spinifex Ridge Mo-Cu deposit is considered to be one of the largest undeveloped molybdenum deposits in the world with a JORC compliant Measured and Indicated resource of 652Mt at 0.05% Mo and 0.08% Cu 1. Current operator of the Bamboo Creek gold project Haoma Mining NL recently announced very high grade gold and PGM results from testing of the Bamboo Creek tailings 2, where a pilot plant is operating and installation of additional plant and equipment is anticipated. Figure 1 Spinifex Ridge East Project location SPINIFEX RIDGE EAST PROJECT (MBK 80%) The Bamboo Creek shear zone has been a major regional gold producer and the geology that hosts the Bamboo Creek goldfield continues northwesterly onto the northern extent of Metal Bank s exploration licence E45/2596 (Figure 1). This geology is considered to hold the greatest potential for short-term identification of potentially economic mineralisation. 1 Refer to Moly Mines Limited s Updated NI Technical Report Spinifex Ridge February Refer to Haoma Mining NL s ASX Announcements dated 4 September and 5 October

3 Metal Bank s Spinifex Ridge East project also covers an extensive portion of a prospective granite-greenstone contact. The project area is thus attractive for a number of mineralisation styles including porphyry hosted molybdenum-copper and shear-related gold deposits. Exploration campaigns by previous holders between 2007 and 2011 identified a number of prospective zones within the Spinifex Ridge East project that were inadequately tested, particularly in the northern zone host to the Bamboo Creek greenstone sequence and its contact with granitoid intrusives. Geophysical interpretation highlighted additional targets for follow up ground checking. Prior to Metal Bank acquiring the project in June 2011, rockchip and soil geochemical sampling outlined four surface copper exposures immediately east of the Spinifex Ridge Mo-Cu deposit - Copper Gossan, Terry s Gossan, Copper Find and Norm s Find as well as the Northern gold in soil anomaly (Figure 2). Figure 2 Spinifex Ridge East Project - Key target areas for 2013 focus During 2012, Metal Bank completed a reconnaissance sampling program to test a number of these targets: 3

4 Norm s Find target Reconnaissance rockchip sampling in 2008 at Norm s Find identified a 400m long shear zone with outcropping copper mineralisation. Very high grade copper, gold and silver (and lesser molybdenum) grades were returned from samples CG208 and CG213 (Table 1). Follow up rockchip sampling by Metal Bank in 2012 returned exceptional multi-commodity assays of 30.8g/t gold, 154g/t silver and 6.54% copper from sample SE006. This zone is earmarked as a high priority for a more intensive sampling campaign in 2013 that may also incorporate trenching to define targets for subsequent drilling. BC7 target The BC7 target was one of 21 targets highlighted, but not followed up, during an earlier reinterpretation of geophysical data over the project area. It was identified as a possible late stage dilational structure with an associated alteration zone, cutting relict greenstone within the granitoid intrusive. Table 1 Spinifex Ridge East Project (MBK 80%) best rockchip sampling results Sample Prospect Co-ords N Co-ords E Au g/t Ag g/t Cu % Mo ppm Comments # SE006 Norm s Find 7,687, , SE009 North gold 7,687, , anomaly BCT012 BC7 7,683, , Also 2420ppm Pb BCT032 BC7 7,683, , BCT033 BC7 7,684, , BCT037 BC7 7,684, , CG104 Copper Gossan 7,687, , sampling* CG208 Norm s Find 7,687, , sampling* CG213 Norm s Find 7,687, , sampling* While this target is more distal from the regional granite-greenstone contact (Figure 2), first pass reconnaissance rockchip sampling undertaken by Metal Bank during 2012 has enhanced the geophysical interpretation, returning highly encouraging multi-commodity assay results with gold up to 1.28g/t, silver up to 83.5g/t and copper up to 0.34% (Table 1). The BC7 target is yet to be systematically assessed and as such its extent is not yet fully defined. This zone is also being prioritised for a detailed sampling campaign in 2013 that may require trenching and channel sampling to define drill targets. Other targets The east-west trending Northern gold anomaly (Figure 2) is situated along strike from the Bamboo Creek goldfield and was identified by two 400m spaced soil sampling lines in Rockchip sampling by Metal Bank during 2012 confirmed the existence of a gold zone with sample number SE009 returning an encouraging 0.31g/t gold and accessory copper at 0.12% 4

5 (Table 1). A systematic geological and geochemical assessment of this prospect is required to adequately test the continuity of gold mineralisation along the >400m gold in soil anomaly, which remains open to the east. The Copper Gossan target was identified by previous explorers and lies along strike some 500m to the west of the Northern gold anomaly, and also along strike from the Spinifex Ridge Mo-Cu deposit (Figure 2). This target is scheduled for further systematic geological assessment in 2013 to validate and extend previous rockchip results that previously returned up to 0.28% copper, 7.8ppm molybdenum and 0.09g/t gold (Table 1). The iron ore (Fe) potential identified at the Spinifex Ridge East project is to date restricted to the area immediately north of the Copper Gossan target. The iron formation found in this zone corresponds to that hosting Moly Mines Spinifex Ridge iron ore operation some 4km to the west (Figure 2). Previous explorers on the Metal Bank ground reported several rockchip samples in excess of 40% Fe with a maximum value of 61.47% Fe. In 2013, Metal Bank plans to review this area for potential iron ore resources that could provide additional feed to the neighbouring Moly Mines operation WORK PROGRAM Metal Bank is proposing to systematically test the most advanced targets on its Spinifex Ridge East project, commencing early The objective of the program will be to define targets for drilling later in the year. To date, little attention has been paid to the PGM potential of the Spinifex Ridge East project. Given the recent success and high PGM grades being reported (along with high grade gold) by Haoma Mining NL at the adjacent Bamboo Creek mine, Metal Bank will also review the prospectivity for PGM minerals on its ground. The 2013 work program is likely to incorporate: 1. Infill and extensional soil sampling 2. Systematic rockchip sampling and geological mapping 3. Trenching and channel sampling 4. Initial RC drill testing of priority refined targets 5. Multi-element geochemical analysis For further information contact: Guy Robertson Executive Director

6 Board of Directors and Management Anthony Ho (Non-Executive Chairman) Guy Robertson (Executive Director) George Frangeskides (Non-Executive Director) Registered Office Metal Bank Limited 50 Margaret Street Sydney, NSW, 2000 AUSTRALIA Phone: (+61) (2) Facsimile: (+61) (2) Share Registry Advanced Share Registry Services 150 Stirling Highway Nedlands WA, 6009 AUSTRALIA Phone: (+61) (8) Facsimile: (+61) (8) Please direct all shareholding enquiries to the share registry 6

Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Trevor Woolfe, who is a Member of The Australasian Institute of

7 Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Trevor Woolfe, who is a Member of The Australasian Institute of Mining and Metallurgy. Trevor Woolfe is a consultant to the Company, and is employed by Alexander Cable Pty Ltd. Trevor Woolfe has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Trevor Woolfe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. #2012 Samples analysed at ALS Chemex Laboratories Perth Au AA25: Atomic Absorption Spectroscopy (AAS). A prepared sample is fused with a mixture of lead oxide, sodium carbonate, borax, silica and other reagents as required, inquarted with 6 mg of gold-free silver and then cupelled to yield a precious metal bead. The bead is digested in 0.5 ml dilute nitric acid in the microwave oven. 0.5 ml concentrated hydrochloric acid is then added and the bead is further digested in the microwave at a lower power setting. The digested solution is cooled, diluted to a total volume of 10 ml with demineralized water, and analyzed by atomic absorption spectroscopy against matrix-matched standards. Ag/Cu/Mo ICP61: Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP - AES). A prepared sample (0.25 g) is digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and the resulting solution is analyzed by inductively coupled plasma-atomic emission spectrometry. Results are corrected for spectral interelement interferences Ag/Cu - OG62: Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP - AES). Assays for the evaluation of ores and high-grade materials are optimized for accuracy and precision at high concentrations. Ultra high concentration samples (> 15-20%) may require the use of methods such as titrimetric and gravimetric analysis, in order to achieve maximum accuracy. A prepared sample is digested with nitric, perchloric, hydrofluoric, and hydrochloric acids, and then evaporated to incipient dryness. Hydrochloric acid and de-ionized water is added for further digestion, and the sample is heated for an additional allotted time. The sample is cooled to room temperature and transferred to a volumetric flask (100 ml). The resulting solution is diluted to volume with de-ionized water, homogenized and the solution is analyzed by inductively coupled plasma - atomic emission spectroscopy or by atomic absorption spectrometry. * 2007/8 Samples analysed at Genalysis Laboratories in Perth WA. Au - 25g Lead collection fire assay. Analysed by Flame Atomic Absorption Spectrometry. Ag/Mo - Multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes. Analysed by Inductively Coupled Plasma Mass Spectrometry. Cu - Multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes. Analysed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry. 7

QUARTERLY ACTIVITIES REPORT For the Quarter ended 30 September 2018

HIGHLIGHTS ASX ANNOUNCEMENT 31 October 2018 ASX: MBK QUARTERLY ACTIVITIES REPORT For the Quarter ended 30 September 2018 The focus for the Quarter has been on completion of the system wide review for the