ersonal use only

Cape Flattery Silica

Brisbane Mining Conference - 23 March 2022

Metallica Minerals Limited (ASX: MLM)

A new economy minerals company

ersonal use only

Metallica Minerals is an Australian

development

company focussed on

delivering high purity silica sand to a

diversified global

customer-base.

Disclaimer

This presentation has been prepared by Metallica Minerals Limited (ASX:MLM) (Company/Metallica) This document contains background information about Metallica current at the date of this presentation. The presentation is in summary form and does not

onlypurport to be all-inclusive or complete. Recipients should conduct their own investigations into the completeness of the information, statements and opinions contained in this presentation and perform their own analysis in order to satisfy themselves as to the accuracy of this information.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares or other securities in any jurisdiction. This presentation is not a prospectus, product disclosure statement or other offering document

useunder Australian law (and will not be lodged with the Australian Securities and Investments Commission (ASIC)) or any other law. This presentation and the announcement to which it is attached does not and will not form any part of any contract or commitment for the acquisition of Metallica securities.

This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent

ersonalrecommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments. The information contained in this presentation and related market announcements should not be considered to be comprehensive or to comprise all the information which a shareholder or potential investor in Metallica may require in order to determine whether to deal in Metallica securities or otherwise participate in any offer to acquire or sell securities, nor does it contain all the information which would be required in a prospectus, product disclosure statement or other offer document prepared in accordance with the Corporations Act 2001 (Cth).

Brisbane Energy Conference | 23 March 2022

To the fullest extent permitted by law, Metallica, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted. To the maximum extent permitted by law, Metallica and its directors, officers and employees exclude and disclaim all liability, including without limitation for negligence or for any expenses, losses, damages or costs incurred by you as a result of your participation in any offer or dealing in Metallica securities or the information in this presentation and market announcements to which it is related being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Metallica. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Metallica does not undertake any obligation to update or revise any information or any of the forward- looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward-looking statement is based.

3

Listing Rule Statements and Competent Person Statement

ASX Announcements cited

The following ASX Announcements are cited in this presentation

only1.See ASX Release 21 October 2021 "Revised 40% Increase of the Cape Flattery Silica Sand Resource to 53.5Mt"

2.See ASX Release 15 June 2021 "Mining Lease Application lodged for Cape Flattery Silica" 3.See ASX Release 21 March 2022 "Cape Flattery Silica Pre Feasibility Study"

4.See ASX Release 22 June 2021 "Excellent Metallurgical Test results on Cape Flattery Silica Sand"

5. See ASX Release 10 November 2021 "Cape Flattery Silica Sand Project Production Target"

useThe statements in this presentation concerning Mineral Resource Estimates at the CFS Project are derived from ASX announcements 1, 3 and 5 above.

Li ting Rule 5.23: The Company confirms that it is not aware of any new information or data that materially affects the information included in these original market announcements and, in the case of estimates of mineral resources or ore reserves and production forecasts and forecast financial information, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements

ersonalcontinue to apply and have not materially changed. The company confirms that the form nd context in which the Competent Person's findings are presented have not been

m terially modified from the original market announcement.

Statements concerning production targets and related financial information are derived from ASX announcements 3 and 5 above.

Listing Rule 5.19.2: The Company confirms that all material assumptions underpinning the production target and corresponding financial information continue to apply and have not materially changed.

Brisbane Energy Conference | 23 March 2022

Competent Person Statement

The information in this presentation relating to mineral resource estimates or ore reserves is based on information compiled and reviewed by Mr Carl Morandy, who is a Member of the Australian Institute of Mining & Metallurgy. Carl is a fulltime employee of Ausrocks Pty Ltd and has sufficient experience that is relevant to the styles of mineralisation under

consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Carl consents to the

inclusion in the presentation of the matters based on his information in the form and context in which it appears.

4

Cape Flattery Silica*

The project is in FNQ adjacent to the world's largest high purity

silica sand mine at Cape Flattery (Mitsubishi-owned), operating for

more than 30 years

> Strong demand from Asia for premium quality, low iron silica sand used

onlyin surging solar PV market and high quality glass applications

> High purity silica resource identified (53.5Mt)1 and maiden Ore Reserve

estimated (46 Mt)

> Pre-Feasibility Study shows positive investment fundamentals - NPV

use

of A$290M, IRR 34.9%, payback 3.9 years and life of Project cash

revenue of A$2.127B

> A purpose-built jetty is planned (subject to Development Approval) and

located within the port limit of Cape Flattery

> Low capex project, with short time horizon to cashflow with production

targeted at Q3 2024 (subject to environmental approval process).

* See ASX Release 21 March 2022 "Cape Flattery Silica PFS - confirms excellent economics"

Brisbane Energy Conference | 23 March 2022

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Metallica Minerals Limited published this content on 23 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 02:43:07 UTC.