Metalicity Limited (ASX: MCT) ('Metalicity' or 'Company') provides a market update on our current Drilling Programme at the Kookynie Gold Project1 in the Eastern Goldfields, Western Australia, approximately 60 kilometres south southwest of Leonora.

Commenting on the drilling to date, Metalicity Managing Director, Jason Livingstone said: 'The exploration boom that Western Australia is facing is fantastic for the industry but is hindering drill rig scheduling and assay turnaround times. Whilst we would have liked some assays returned by now, we should see a steady stream of results for the next few months as we have stepped-up drilling efforts.' 'We have a plethora of quality targets within the Kookynie Gold Project, and we are making inroads into consolidating the province with the recent acquisition of the Mulga Plum and Batavia areas that complements our already highly prospective tenure. Our methodical approach to exploration has been the cornerstone of our strategy for the Kookynie Gold Project. That aspect has not changed.' 'We will continue our methodical approach on this Project and are excited to be developing, in what is emerging to be, a premier district in the Eastern Goldfields. 2020 has certainly provided a fantastic foundation for us to launch into 2021.'

Assay & Drilling Discussion

The Kookynie Project is host to eight, significant prospects; Champion, McTavish, Leipold, the DCC Trend, Altona, Orient Well East, Wandin and Mulga Plum.

Contact:

Jason Livingstone

Tel: +61 8 6500 0202

Email: jlivingstone@metalicity.com.au

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