MetalsTech: Lead Manager Appointed to Winsome Lithium Spinout

28 June 2021

Highlights

-          Canaccord Genuity (Australia) Limited appointed as Lead Manager to the proposed spinout and separate ASX listing of wholly owned MetalsTech subsidiary Winsome Resources Limited (Spinout)

-          ASX Reserved Code: WR1

-          MTC shareholders to receive $9 million worth of shares in spinout by way of an in specie distribution of 45 million WR1 shares in proportion to their MTC holding as at record date (future date to be set post shareholder approval) – MTC currently has 153.8 million shares on issue (e.g. 1 free WR1 20c share for every 3.4 MTC shares held assuming current shares on issue) (See ASX Announcement dated 27 May 2021 titled “MetalsTech Secures $18M Deal for Lithium Assets” and ASX Announcement dated 17 March 2021 titled “MetalsTech Announces Spin Out of High-Grade Lithium Assets”)

-          Spinout structure still subject to ASX, ASIC and MTC shareholder approval

-          Winsome Resources will focus on developing the 100% owned Cancet, Adina and Sirmac-Clapier Lithium Projects in Quebec, Canada – Cancet boasts a JORC Exploration Target of between 15Mt and 25Mt at a grade range between 1.0% and 2.0% Li2O and 100ppm to 250 ppm Ta2O5 (See ASX Announcement dated 9 November 2017 titled “Significant Exploration Target Defined at Cancet Project”)

• The Exploration Target was formulated following an independent review of the Company’s exploration results including diamond core drilling, assays, field mapping, trenching, rock and channel sampling, magnetic survey and LiDAR survey. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

-          Justin Boylson joins Winsome as Non-Execuitve Director

Appointment of Justin Boylson – Non Executive Director – Winsome Resources

Mr Boylson is an experienced commodity trader and resource project manager with over 25 years’ experience. He has an extensive resource and commodity-based knowledge of Australia, South East and North Asia and their markets. Mr Boylson has been responsible for several high profile off-take transactions and has been involved in the start-up of several mining and recovery projects in Australia, the USA and Asia. Recent ASX Directorships include  Manuka Resources Limited Jan 2019 – March 2020 & Riversgold Limited August 2019 to August 2020. He is currently Non-Execuitve Chairman of Mamba Exploration Limited.

For further information about Winsome Resources (ASX Reserved: WR1), including investor or broker enquiries regarding the IPO please contact:

Chris Evans – Executive Director 

Winsome Resources Limited

M: +61 419 853 904

E: [email protected]

ENDS

For further information, contact:

Russell Moran

Chairman

M +61 415 493 993

[email protected]

Nathan Ryan

Investor Relations

M +61 420 582 887

[email protected]

Gino D’Anna

Director

M +61 400 408 878

[email protected]

Caution Regarding Forward-Looking Information

This document contains forward-looking statements concerning MetalsTech. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on the company’s beliefs, opinions and estimates of MetalsTech as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.