Corporate Highlights

Metallica Corporate & Exploration Highlights (2006-2007)

Very Active 2006 and 2007 exploration, evaluation and advancement on Nickel, Coal and Bauxite projects.
Positive nickel drilling & metallurgy results (favourable agglomeration & Ni Extraction)
Current (Nov 06) NORNICO Nickel resource 222Kt contained Ni (Based on approximately 600 holes)
Completed 369 drill holes since Feb 07 on the Bell Creek Nickel deposits
Lucky Break Ni Heap Leach JV - MFC Feasibility completed June 2007, decision to develop
Priority Ground EM Conductors to Drill Test (Targeting Ni-Cu Sulphides)
Completed 650 drillholes at Weipa-Wenlock Bauxite Project on first granted tenement resulting in maiden bauxite resource of 54Mt insitu (32Mt indicated & 22Mt inferred)
Increase coal tenement portfolio covering 3,940km2 coal bearing strata located in Surat Basin, Ipswich and Injune
Acquisition of Phoenix Lime Pty Ltd which holds the Ootann Limestone and Limeworks, with large high quality Limestone deposit and associated Mining Leases close to NORNICO.
Signed A$5.9 million dollar Share Subscription Agreement at $1.10/share with Yunnan Tin Nickel (see ASX Release dated 1 June 2007 under Investor Relations)
Sold Coal Subsidiaries SE Qld Coal Pty Ltd and SE Qld Energy Pty Ltd holding the Kingaroy, Condamine, Surat and Injune Coal projects (and associate JV's) to Cockatoo Coal Ltd for $10million value and coal royalty.