Metro Mining Limited (ASX:MMI) ('Metro') is pleased to announce the refinancing of its current debt facilities to enable the loan from the North Australian Infrastructure Facility ('NAIF') to be senior secured first ranking.

Metro will make an early repayment of the existing Sprott Private Resource Lending ('Sprott') totaling US$9.65M plus accrued interest.

Metro will enter into new loan facilities totaling A$15.0M with Metro's existing lender Ingatatus AG ($7.5M) and Lambhill Pty Ltd ($7.5M).

This is part of finalising the funding package of the Stage 2 expansion at Bauxite Hills in conjunction with the offer of a Loan facility of A$47.5M from the North Australian Infrastructure Facility ('NAIF')

The key terms of the new facilities are:

Maturity on 1January 2022

Three equal repayments (of an aggregated $5.0M each) on 1 July 2021, 30 September 2021 and 1 January 2022.

Senior secured, second ranking behind the NAIF debt facility#

Metro's Managing Director Simon Finnis said; 'We are delighted to have finalised these new debt facilities which are a major step towards reaching financial close on NAIF. We are very appreciative to have the ongoing support of Ingatatus AG as well as our new lender Lambhill. I would like to express my sincerest thanks to Sprott Private Resource Lending who have been a strong supporter of Metro through both the development and operating phases of Bauxite Hills.'

Contact:

Tel: +61 (0) 7 3009 8000

FORWARD LOOKING STATEMENT

Statements & material contained in this ASX Release, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events & expectations and, as such, involve known and unknown risks & uncertainties. Although reasonable care has been taken to ensure facts stated in this Release are accurate and/or that the opinions expressed are fair & reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results & developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this Release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

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