Tungsten-Moly

Wolfram Camp Tungsten-Molybdenum Project is located 90 kilometers inland of Cairns and is 85% owned by Planet Metals, with the remainder held by its joint venture partner, Tropical Metals Pty Ltd. In June 2010, Planet Metals entered into a Heads of Agreement (Option to Purchase) with Tropical Metals to sell its 100% ownded subsidiary Wolfram Camp Mining for $8 million cash. Tropical Metals are currently completing Due Diligence on this purchase.

Metallica Minerals successfully acquired 76% of Planet Metals in mid 2009 following a Scrip for Scrip takeover bid and Rights Issue.

For further information on Planet Metals, please refer to: www.planetmetals.com.au.