Aditya Birla Minerals

Published : August 05th, 2016

Clarification: Mineral Resources and Reserves

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Clarification: Mineral Resources and Reserves

PRESS RELEASE

5 August 2016

CLARIFICATION: MINERAL RESOURCES AND RESERVES

Metals X Limited (ASX:MLX) (Metals X) released the following announcements:

  • MLX Presentation Diggers & Dealers dated 1 August 2016.

  • Metals X Plans Gold Demerger dated 4 August 2016.

Metals X would like to provide the following clarification regarding the Mineral Resources and Reserves disclosed in the announcements.

Gold Division - Mineral Resources & Ore Reserves - The information is extracted from the Metals X June 2016 Quarterly Report dated 29 July 2016 (ASX:MLX).

GOLD DIVISION

Mineral Resource Statement 30 June 2016

Category

k Tonnes

Grade

k Ounces Au

Measured

2,972

3.32

317

Indicated

130,135

2.20

9,216

Inferred

89,797

2.04

5,881

Total

222,904

2.15

15,414

Ore Reserve Statement 30 June 2016

Category

k Tonnes

Grade

k Ounces Au

Proven

1,145

3.02

111

Probable

36,918

2.34

2,782

Total

38,063

2.36

2,893

ASX Code: MLX

OTCQX Code: MLXEF

Level 3, 18-32 Parliament Place West Perth WA 6005

Australia

[email protected] www.metalsx.com.au

Tin Division - Mineral Resources & Ore Reserves - The information is extracted from the Annual Mineral Resource and Reserves Statement dated 25 August 2015 (ASX:MLX).

TIN DIVISION

Mineral Resource Statement 30 June 2015

Tin

Copper

Category

Tonnes kt

Grade % Sn

Sn Metal Kt

Tonnes kt

Grade % Sn

Sn Metal Kt

Measured

23,066

0.53

122

22,989

0.24

54

Indicated

9,234

1.34

124

7,746

0.31

24

Inferred

4,073

1.21

48

3,117

0.29

9

Total

36,382

0.81

294

33,852

0.26

87

Ore Reserve Statement 30 June 2015

Tin

Copper

Category

Tonnes kt

Grade % Sn

Sn Metal Kt

Tonnes kt

Grade % Sn

Sn Metal Kt

Proven

1,313

1.60

21

1,313

0.43

6

Probable

26,325

0.60

159

26,003

0.23

59

Total

27,638

0.65

180

27,316

0.24

64

Rover Base Metals Project - Mineral Resources & Ore Reserves - The information is extracted from the Metals X 2015 Annual Report dated 23 October 2015 (ASX:MLX).

TENNANT CREEK - ROVER POLYMETALLIC PROJECTS

Mineral Resource Statement 30 June 2015

Gold

Copper

Bismuth

Cobalt

Rover 1 Project

Kt

Grade

%

Metal Koz

Kt

Grade

%

Metal Kt

Kt

Grade

%

Metal Kt

Kt

Grade

%

Metal Kt

Measured

-

-

-

-

-

-

-

-

-

-

-

-

Indicated

2,741

2.42

213

2,741

1.42

59

2,741

0.18

5

2,741

0.04

1

Inferred

4,073

1.27

168

4,073

1.06

52

4,073

0.11

4

4,073

0.08

3

Total

6,814

1.73

381

6,814

1.20

112

6,814

0.14

9

6,814

0.06

4

Zinc

Lead

Silver

Explorer 108 Project

Kt

Grade %

Metal Kt

Kt

Grade %

Metal Kt

Kt

Grade %

Metal Koz

Measured

-

-

-

-

-

-

-

-

-

Indicated

8,438

3.41

287

8,438

2.05

172

8,438

14.3

3,879

Inferred

3,429

2.81

96

3,429

1.88

64

3,429

3.30

364

Total

11,868

3.24

384

11,868

2.00

237

11,868

11.14

4,243

CLARIFICATION: MINERAL RESOURCES AND RESERVES

2

PRESS RELEASE

Gold

Copper

Explorer 142 Project

Kt

Grade %

Metal Koz

Kt

Grade %

Metal Kt

Measured

-

-

-

-

-

-

Indicated

-

-

-

-

-

-

Inferred

176

0.21

1

176

5.21

9

Total

176

0.21

1

176

5.21

9

Nickel Division - Mineral Resources & Ore Reserves - The information is extracted from the Metals X 2015 Annual Report dated 23 October 2015 (ASX:MLX).

NICKEL DIVISION

Mineral Resource Statement 30 June 2015

Nickel

Cobalt

Fe2O3

Wingellina Project

Kt

Grade %

Metal Kt

Kt

Grade

%

Metal Kt

Kt

Grade %

Metal Kt

Measured

68,847

1.00

688

68,847

0.08

54

68,847

48.71

33,535

Indicated

98,623

0.97

957

98,623

0.08

74

98,623

46.39

45,751

Inferred

49,004

0.86

422

49,004

0.07

34

49,004

40.02

19,609

Total

216,474

0.95

2,067

216,474

0.07

161

216,474

45.68

98,896

Ore Reserve Statement 30 June 2015

Nickel

Cobalt

Fe2O3

Wingellina Project

Kt

Grade %

Metal Kt

Kt

Grade

%

Metal Kt

Kt

Grade %

Metal Kt

Proved

-

-

-

-

-

-

-

-

-

Probable

167,470

0.98

1,645

167,470

0.08

128

167,470

47.34

79,287

Total

167,470

0.98

1,645

167,470

0.08

128

167,470

47.34

79,287

CLARIFICATION: MINERAL RESOURCES AND RESERVES

3

PRESS RELEASE

Nifty Copper Division - Mineral Resources & Ore Reserves - The information is extracted from the Aditya Birla Minerals Limited June 2016 Quarterly Report dated 27 July 2016 (ASX:ABY).

NIFTY COPPER

Mineral Resources Statement 30 June 2016

PROJECT

CUT-OFF

TONNES (MT)

% CU

Nifty Sulphides

1.2%

Measured

17.34

2.16%

1.2%

Indicated

3.29

1.80%

1.2%

Inferred

2.83

1.52%

Sub-total

23.46

2.03%

Nifty Oxides

0.4%

Measured

1.43

0.91%

0.4%

Indicated

1.22

0.86%

0.4%

Inferred

1.68

0.83%

Sub-total

4.33

0.86%

Nifty Heap Leach

0.5%

Measured

-

-%

0.5%

Indicated

2.85

0.75%

0.5%

Inferred

0.46

0.66%

Sub-total

3.31

0.74%

NIFTY GROUP

SUB-TOTAL

31.1

1.73%

Maroochydore Ox*

0.5%

Measured

-

-%

0.5%

Indicated

40.8

0.92%

0.5%

Inferred

2.4

0.81%

Sub-total

43.2

0.91%

Maroochydore Sulph*

1.1%

Measured

-

-%

1.1%

Indicated

-

-%

1.1%

Inferred

5.43

1.66%

Sub-total

5.43

1.66%

MAROOCHYDORE GROUP

SUB-TOTAL

48.63

1.00%

TOTAL

79.73

1.28%

In relation to all of the reports mentioned above, Metals X confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that allmaterialassumptionsandtechnicalparametersunderpinningtheestimatesintherelevantmarketannouncement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

In addition, Metals X advises that they withdraw the statement "Target Size 8-10 million tonnes" on slide 18 of the MLX Presentation Diggers & Dealers the statement.

ENQUIRIES

Peter Cook

Warren Hallam

Rod Corps

Executive Director & CEO

e: [email protected]

Executive Director

e: [email protected]

Manager - Investor Relations

e: [email protected]

4

CLARIFICATION: MINERAL RESOURCES AND RESERVES

PRESS RELEASE

Read the rest of the article at www.publicnow.com

Aditya Birla Minerals

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Aditya Birla is a copper producing company based in Australia.

Its main exploration property is MILLENIUM in Australia.

Aditya Birla is listed in Australia. Its market capitalisation is AU$ 434.0 millions as of today (US$ 313.2 millions, € 274.4 millions).

Its stock quote reached its lowest recent point on August 21, 2015 at AU$ 0.15, and its highest recent level on October 23, 2020 at AU$ 7.42.

Aditya Birla has 313 369 984 shares outstanding.

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