MetalsTech Limited: Extension of High Grad Mineralisation at Sturec Gold Mine

** 32m @ 4.62 g/t Au and 17.5 g/t Ag **

* Bonanza grades up to 80.3 g/t Au *

Highlights

-          UGA-05 intersected a thick, continuous mineralized zone of 32m @ 4.62 g/t Au and 17.5 g/t Ag from 70m (0.3g/t Au cut-off, downhole thickness) including:

• 9m @ 14.53 g/t Au and 48.2 g/t Ag from 90m (2g/t Au cut-off); and
• 1m @ 80.3 g/t Au and 136.0 g/t Ag from 97m

-          UGA-05 extends the interpreted mineralisation zone a further 30m along strike from UGA-04 which intersected 90m @ 3.88 g/t Au and 13.9 g/t Ag along the hangingwall of the interpreted mineralised zone and approximately 55m along the footwall margin

-          Together UGA-04 and UGA-05 cover a significant >150m along strike step out from the existing 1Moz+ JORC (2012) Mineral Resource at the Sturec with mineralisation open along strike and down dip

-          UGA–06 intersected visible gold and assays due imminently

-          UGA–07 has been completed to a depth of 130.00m and represents a down dip step out of approximately 30 metres from UGA-06 along the hangingwall of the interpreted mineralised zone and approximately 70m along the footwall margin

Commenting on the results for UGA-05, MetalsTech Chairman, Russell Moran stated:

“We continue to hit high grade gold mineralisation as we execute a significant step out from the existing resource at Sturec. The target zone appears to be outside the areas which were the subject of historic underground mining which is likely why we are seeing much higher grades. We are eagerly awaiting assays for UGA-06 which are due imminently.”

MetalsTech Limited (ASX: MTC) (the Company or MTC) is pleased to provide stakeholders with an update on its diamond drilling program at the Company’s 100% owned Sturec Gold Mine, located in Slovakia (Sturec).  To date the Company has completed seven diamond drill holes as part of the Company’s maiden underground drilling program from within the Andrej Adit. The current drilling program has been designed to test for southern extensions to the high-grade plunging zone within the existing Sturec Mineral Resource.

The drill hole collar details are set out in Table 1 below.

Table 1: Drill Collar details

Drilling Assay Results from UGA-05

Drilling of UGA-05 was completed to a depth of 140.46m.  Drill hole UGA–05 intersected the interpreted mineralised zone along strike, approximately 30 metres to the south from UGA-04 along the hangingwall of the interpreted mineralised zone and approximately 55m along the footwall margin; approximately 130m along strike from the southern extent of the Sturec JORC (2012) Mineral Resource along the hangingwall and over 150m along the footwall of the interpreted mineralised zone; and approximately 50m down dip from where it has been historically mined within the Andrej Adit.

UGA-05 intersected quartz filled vein/stockwork/breccia structures, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 0m to 102m down hole (*not true thickness).

Assay results from UGA-05 are interpreted to show a continuous mineralised zone from 70m to 102m using a 0.3g/t Au cut-off. A summary of the significant intersections from UGA-05 are shown in Table 2 below.

Photo 1 shows the high grade zone within the broader drill intersection.

Table 2: Significant intersections in UGA - 05

Drilling Update: UGA-06

Drilling of UGA-06 was completed to a depth of 116.50m.  Drill hole UGA-06 was planned to intersect the mineralised zone between UGA-03 and UGA-04 in order increase the potential resource tonnage between the two intersections where the Schramen Vein was intersected at the footwall.

UGA-06 intersected 68m of quartz filled vein/stockwork/breccia structures, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 36.5m to 104.5m down hole (*not true thickness). The Company looks forward to providing an update on UGA-06 as the core has been sampled and dispatched to the lab for “rush assay”.

Drilling Update: UGA-07

Drilling of UGA-07 has recently been completed to a depth of 130.00m. UGA-07 was planned to intersect the interpreted mineralised zone down dip approximately 30 metres from UGA-06 along the hangingwall of the interpreted mineralised zone and approximately 70m along the footwall margin.

Mineral Resource Estimate – Sturec Gold Mine

 AuEq g/t = ((Au g/t grade*Met. Rec.*Au price/g) + (Ag g/t grade*Met. Rec.*Ag price/g)) / (Met. Rec.*Au price/g)

Long term Forecast Gold and Silver Price USD/oz (source: World Bank, JP Morgan): $1,500 and $20 respectively.

Gold And silver recovery from the 2014 Thiosulphate metallurgical test work: 90.5% and 48.9% respectively.

It is the Company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

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.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Quinton Hills Ph.D., M.Sc., B.Sc. Dr Hills is the technical advisor of MetalsTech Limited and is a member of the Australasian Institute of Mining and Metallurgy (No. 991225). Dr Hills has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Dr Hills consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The information in the report to which this statement is attached that relates to Mineral Resources for the Sturec Gold Deposit is based on information compiled by Mr Chris Grove, who is a Member of The Australasian Institute of Mining and Metallurgy (No. 310106).  Mr Grove is a full-time employee of Measured Group Pty Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Mr Grove consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.