MARKET RELEASE

Murchison Metals Ltd

24 June 2014

SUSPENSION FROM OFFICIAL QUOTATION

The securities of Murchison Metals Ltd (the "Company") will be suspended from quotation at the close of trading today, Tuesday 24 June 2014, at the request of the Company in accordance with listing rule 17.2, following lodgement of the Court order with ASIC approving the scheme of arrangement by which the Company will merge with Mercantile Investment Company Ltd.

Security Code: MMX

Elvis Onyura

Senior Adviser, Listings Compliance (Sydney) PrJI murch1son

Level11, 139 Macquarie Street, Sydney, NSW, 2000

24 )une 2014

By email: elvis.onyura@asx.com.au

Elvis Onyura

Senior Adviser, Listings Compliance (Sydney) ASX Compliance Pty Ltd

20 Bridge Street

Sydney NSW 2000

Dear Elvis

Murchison Metals Limited - Request for suspension from quotation

In accordance with Listing Rule 17.2, Murchison Metals Limited (ASX: MMX) (MMX) requests that its ordinary shares be suspended from quotation on the ASX, effective at the dose of trading today.

As announced yesterday, the Supreme Court of New South Wales (Court) has approved the merger between MMX and Mercantile Investment Company Limited by way of scheme of arrangement (Scheme).

A copy ofthe Court's order approving the Scheme has been lodged with ASIC and announced to ASX this morning. In accordance with section 411(10)) ofthe Corporations Act 2001 (Cth), the Scheme is now effective.
The suspension is requested to allow MMX to finalise its shareholder register and determine entitlements to the Scheme consideration on the record date schedul ed for 7pml July 2014. Ifthe Scheme is implemented, MMX expects that the suspension willlast unti! MMX is removed from the officiallist of ASX (anticipated to occur on a date after the implementation date on 8 July 2014, subject to ASX's approvai).
MMX is not aware of any reason why its shares should not be suspended.

11 Z97799/ 1WWW .mml.net.au ABN: 38 078 257 799

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