Metalicity Limited announced that the Company has received assay results from rock chip samples collected during its soil sampling program completed in November 2022 at the Company's wholly owned Mt Surprise Project (EPM 28052) located circa 57km northeast of the town of Mt Surprise, 165 km west of the major centre of Cairns. These assay results from rock chip sampling, up to 11.15% copper and 392ppm cobalt, greatly increase the area of the priority targets identified during the maiden field work program conducted in October 2022 and further support the prospectivity of the Mt Surprise Project and potential target areas. HIGHLIGHTS: A rock chip sample from Mt Surprise has returned high grade copper mineralisation of: 11.15% Cu, 392ppm Co; This sample was collected 500m from a previous high grade rock chip sample of 11.65% Cu and 66.39 g/t Ag within an initial strike of up to 3kms Results further highlight the scale and significant multi-element potential of Mt Surprise including for copper and other battery metals which has previously seen minimal focus; Ongoing analysis of previously announced rock chip samples has identified significant and anomalous cobalt mineralisation associated with high grade copper veins.

Results include: 650ppm Co; 293ppm Co; 170ppm Co; and 138ppm Co; Several additional rock chips collected from surface gossan and a historic base metal excavation 750m along trend from previous gossanous rock chips, returned results including: 2.77% Pb, 60.1 g/t Ag; 1.12% Pb; and 86g/t Ag; and Assay results from the soil samples are pending.