METALLICA MINERALSMETALLICA MINERALS“A Queensland Multi-Commodity Resource Company”

Nickel-Cobalt + Coal + Bauxite+ Copper-Gold + Tungsten

Hilton Hotel, Sydney21-22 September 2009ASX: MLM

DisclaimerStatements and material contained in this presentation, particularly those regarding possible or assumed future performance,production levels or rates, metal prices, resources or potential growth of Metallica Minerals Ltd, industry growth or other trendprojections are, or may be, forward looking statements. Such statements relate to future events and expectations and, assuch, involve known and unknown risks and uncertainties.

The NORNICO and Lucky Break Nickel projects are at the evaluation and feasibility stage and although reasonable care hasbeen taken to ensure that the facts stated in this presentation are accurate and or that the opinions expressed are fair andreasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on itscompleteness.

Actual results and developments may differ materially from those expressed or implied by these forward looking statementsdepending on a variety of factors.

Cape Alumina Ltd listed on the ASX on 29 January 2009 and latest and more detailed information can be sourced from CapeAlumina and www.capealumina.com.au

At the date of this presentation Metallica Minerals has acquired 76% of Planet Metals Limited, further information can besourced from www.queenslandores.com.au

Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in anyjurisdiction.

This material is used for a company summary presentation only, for more detailed information the reviewer should seekcompany information as provided in Metallica’s ASX releases, Annual and Quarterly Reports.

Technical information contained in this report has been compiled by Metallica Minerals Managing Director Mr Andrew Gillies B.Sc. M.AUSIMM and Metallica Minerals Ltd, Exploration Manager, Mr Pat Smith MSc. B.Sc (Hons), M.AusIMM. Technical Information on CapeAlumina Ltd bauxite projects in this report has been compiled by Dr Paul Messenger. Technical information on MetroCoal Limited coalprojects in this report had been compiled by Mr Warrick Smyth of GeoConsult and Mr Neil Mackenzie-Forbes, Exploration Manager ofMetroCoal. Mineral Resource information on Planet Metals Limited Wolfram Camp project in this report had been compiled by Mr AndrewBorder, Project Geologist of Planet Metals Ltd. Mr Gillies, Mr Smith, Dr Messenger, Mr Smyth, Mr MacKenzie-Forbes and Mr Border whoare competent persons and members of the Australasian Institute of Mining and Metallurgy and have relevant experience to themineralisation being reported on to qualify as Competent Persons as defined by the Australasian Code for Reporting of Minerals Resourcesand Reserves. Mr Gillies, Mr Smith, Dr Messenger, Mr Smyth, Mr Mackenzie-Forbes and Mr Border consent to the inclusion in thispresentation of the matters based on the information in the form and context in which it appears.

Metallica Assets/Value

Metallica is in an excellent position to progress its core mineral properties, acquireattractive opportunities & major investments. (*as at 14/09/09)

NORNICO 100%Nickel-Cobalt Project

364Kt contained Ni

29Kt contained Co

Cape Alumina

33%

100% Weipa

Bauxite Project

MetroCoal

79%4,000km2

Surat Coal Basin

Planet Metals Ltd

76%100% Mt Cannindah Cu-Au

85% Wolfram Camp W-Mo

Cash*

$14.5MNo debt

What is Metallica MineralsMetallica’s track record and focus is to secure,

value add and develop Queensland resources

Metallica has a dedicated team of highlyexperienced professionals with exploration,resource development, mining and corporate-financial expertise

Corporate Vision is to become a highlyprofitable long-term diversified mineralsproducer, whilst maintaining the highest social,environmental and safety standards.

2009 Corporate Achievements

Successfully listed Cape Alumina on the ASXin Jan 2009 retaining a 33% shareholding(42M shares @ ~40c ps) – value ~$17 million

Successfully acquired 76% Planet MetalsLtd (previously Queensland Ores Ltd) whichholds two significant Qld resource projects(Wolfram Camp W-Mo & Mt Cannindah Cu-Au) both with granted ML’s, plus processingplant and equipment which had cost over $20million

Completed $1M seed capital raising +Broker support for planned MetroCoal LtdIPO for late 2009

Metallica’s Mineral PortfolioQueensland Geographic Focus

Nickel-CobaltNORNICO 100%

Lucky Break JV (60%)

CoalMetroCoal 79% owned

(100% Surat Basin Coal Project)

BauxiteCape Alumina ~33% owned

(100% Weipa Bauxite Project)

76%Planet MetalsMt Cannindah Cu-Au

Wolfram Camp W-Mo

“Solid foundationfor growth &

value adding”

METALLICA MINERALS LIMITED(ASX Code MLM)

Corporate Summary

Listed ASX Nov 04 (IPO issue price 20c)

MCap ~A$36 million (at 30c MLM share price)

Major Shareholders

1. Jien Mining P/L – (18.8%)

2. Resource Capital Funds (RCF) – (12.3%)

3. Golden Breed (7.3%)

Others: Xinfa, Bondline, Korea Zinc Total Issued Shares – 121.7 million & 6.75M options (~2,650 Shareholders)

Major interests in Nickel-Cobalt (NORNICO 100%), Coal(MetroCoal 79%), Bauxite (Cape Alumina 33%), Cu-Au + W-MoPlanet Metals Limited (76%), Scandium (Scandium Pty Ltd 80%)

Cash Position ~$14.5 million (~12c/share) at 14/09/09

Metallica Directors (5)Experienced, Talented & Dedicated

David BarwickChairman36 yrs Relevant ExperienceBackground - Corporate Accounting

John HaleyCFO Director, Company Sec28/20 yrs Relevant ExperienceBackground –Financial/Accounting

Andrew GilliesManaging Director/CEO22 yrs Relevant ExperienceBackground – Geology, Management(Golden Breed Pty Ltd 7.3%)

L-R, David Barwick, Andrew Gillies, John Haley

Peter NicholsonNon-Executive Director13 years Relevant ExperienceBackground – MiningEngineer/Investment(RCF 12.3%)

Wu ShuNon-Executive DirectorBackground – Financial

Tao Li (alternate director)Background – Geology(Jien Mining P/L 18.8%)

Metallica Minerals team

76% PLANET METALS LIMITED (PMQ)Previously Queensland Ores Limited (QOL)

MLM currently has 76% of PMQ

Scrip offer 1 MLM Share : 22 PMQ Shares (closed 9 June – MLM 71%)

Completed Rights Issue in July raising ~$1.5 million

85% Wolfram Camp Mine – Tungsten & Molybdenum –710,000t @0.42% WO³ & 0.17% MoS² Measured & Indicated resource, openalong strike, with regional consolidation potential (see Table 1)

100% Mt Cannindah – Copper & Gold Measured Resource – 5.6Mt@ 0.95% Cu & 0.4g/t Au with excellent exploration potential withinlarge gold bearing porphyry Copper system (see Table 2)

3,000m core drilling (60-70 holes) program at Wolfram Campcommenced in mid September

PMQ has 39M shares on issue post 10:1 consolidation and namechange (Sept 09)

Planet Metals’ KEY ASSETSWolfram Camp 85% Tungsten-Moly mine

Wolfram Camp mine photos

Molybdenite ore

Fully operational new 150,000tpaWolfram & Molybdenite oreprocessing plant – on care andmaintenance from Nov 08

Wolframite Tungsten (W) Ore

Wolfram Camp W-Mo Resource*

Measured and Indicated Resources 710,000t @ 0.42 WO3 & 0.17% MoS2 within

700m strike length and 60m of surface.

Comprehensive drilling programme has commenced to confirm resource

categories and magnitude plus identify extensions to known mineralisation

* As Quoted in PMQ ASX Release dated 9 July 2007. Resource estimates by Andy Border, the PMQ Competent

Person.

Measured 598,200 tonnes 0.42% WO3 0.17% MoS2

Indicated 111,500 tonnes 0.41% WO3 0.16% MoS2

Inferred 238,300 tonnes 0.4% WO3 0.2% MoS2

• Table 1

Mt Cannindah Copper-Gold

100% owned by PMQ

Nine granted ML covering 6km²5.6Mt @ 0.95% Cu & 0.4g/t AuMeasured resource (see Table below)

Excellent location

Large Porphyry Copper-Gold system - excellentexploration upside

Mt Cannindah Cu-Au Resource

Prospect ResourceCategory

Tonnes(millions)

%Cu

g/tAu

Containedtonnes

Cu

Containedoz Au

MountCannindah Mine

Measured 5.57 0.95 0.41 52,915 73,400

MountCannindah Mine

Inferred 1.9 1.0 0.3 19,000 18,300

Table 2

COMPETENT PERSON: The information in the attached presentation that relates to Exploration Results,Mineral Resources and Ore Reserves was based on information compiled by Mr. Andrew Border and GolderAssociates. Andy Border is a Member of the Australasian Institute of Mining and Metallurgy, and was a fulltime employee of PMQ is responsible for the resource estimates. Mr Border has sufficient which is relevant tothe styles of mineralisation and types of deposits under consideration and to the activities being undertakento qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves”. Mr. Border consents to the inclusion in thepresentation of the matters based on his information in the form and context in which it appears.

For further information please refer to ASX release dated 31 March 2008.

Other Copper-Gold deposits within in the Mining Leases include, CannindahEast, Monument-Lifesaver & United Allies

Metallica’s 79% MetroCoal LtdTenement Holdings – Surat Thermal Coal & UCG

Simple Strategy toexploit previouslystranded abundantcoal deposits in afavourable setting

Underground Coal Mining50-250m depth for exportthermal coal

Underground CoalGasification “UCG” insituburning coal 150 - 350M depth toproduce Syngas/coal gas togenerate electricity and/orGTL/fuels/petrochemicals (egDiesel, DME, fertilisers etc). NoMining.

Potential areas for openpittable coal

Huge coal resource potential~4,000Km² Coal Bearing Strata

Foundation for a major future coal mining and a new efficient cleanerenergy & petrochemical industry based on Queensland Coal deposits

Tenements have very large exploration targets16 Drill holes completed April 09 in MDLA 406 “Juandah”

(with no overlapping Petroleum & Gas tenure)

Juandah UCG ProjectInitial resource of 172Mt(Indicated 22.5Mt & Inferred149.2Mt ) based on 16 holes seetable at the back of thispresentation

Only the Macalister Upper Coalseam included in the resource ieresource did not include otherdrilled coal seams

Sufficient to support UCG plantproducing longterm syngas for gasfire power generation or 20,000barrels a day of cleaner liquid fuels

Juandah Resource area is <1% ofMetroCoal’s prospective coal strataarea

See ASX release dated 28 May 09 forfurther information

MetroCoal Ltd

Surat Coal Basin Project

Exploration, Evaluation & Development Strategy“Three Coal Development Strategies within the same Coal Project Area”

Forecast Australian Liquid FuelSupply and Demand

“The Surat Coal Basin with UCG-GTL has potential to becomeAustralia’s next Bass Strait”

By 2014-15 Australia will be importing around 600,000 barrels a daywhich at $100/barrel would cost Australia almost $25 Billion p.a.

NORNICO Ni-Co Project - Location & Setting

Excellent Location –160kmfrom coast in rural setting

Proven Ni-Co region

NORNICO 3 Key Ni-Co deposits –

• Bell Creek• Minnamoolka• Kokomo (Cobalt rich)

Simple mining < 50m depth Ores highly amendable to

acid leaching Includes the large & high

grade Kokomo Scandium(Sc) deposit

NORNICO PROJECT - KEY POINTS MLM 100% - Great Location

Evaluating 1Mtpa heated AAL (+/- Heap Leach) operation onsite acid &power generation plant for secure low cost acid supply & heat

NORNICO (JORC) Measured, Indicated & Inferred Resource50.8Mt at 0.72% Ni & 0.06% Co(364Kt Ni & 29 Kt Co contained Metal) (see Table 3 & 4)

Target ~11,000 tpa Ni+Co production for at least 15 year life

Favourable oretypes - ~90% Ni & Co extraction from heated (95ºc) AAL in<6 hrs

Refining process flowsheet: heated AAL (+/- heap leach)

Feasibility deferred (from Mar 09) to include Kokomo Co-Ni Resource,enhanced flow sheet development & undertake further (heated AAL)metallurgy

Kokomo Ni + Co & Sc resource upgrade planned late, Oct 09 using ~300new holes

NORNICO - Bell Creek Nickel Project

Bell Creek SouthMeasured & IndicatedResource11.41Mt @ 0.88% Ni

Bell Creek NorthIndicated Resource5.6Mt @ 0.65% Ni

Bell Creek NWIndicated Resource5.2Mt @ 0.67% Ni

The Pod & The Neck

Proposed site forNORNICO Ni-Cooperation and acidplant site withinMLA20549 ~21km²(red line)

(30km south of Mount Garnet township)BC Resource Base 23.9 Mt @ 0.77% Ni, 184,000t Ni (see Table 3 & 4)

Bell Creek South Cross SectionsSection 4

Section 5

Section 6

Shallow NickelDeposits

Bell Ck SouthResource CategoryMeasured Resource

10.90Mt @ 0.89%Ni,0.06%Co for 97kt Ni

Discrete shallowResource < 40mdepth

Contains high gradecore >1% Ni

Minnamoolka Nickel ResourceNorth Paddock Resource looking SE towards gravel pit

30 km’s South of Bell Creek

Minnamoolka GravelPit

Minnamoolka NorthPaddock

14.7Mt @ 0.67%Ni for 94,800t Ni

Kokomo Ni-Co-Scandium (Sc)

Detailed Drilling Focused on theKokomo Central Plateau~4km strike & width up to 800m

Maiden Resource (Jan 09)Kokomo Central12.2Mt @ 0.67%Ni & 0.12% Cocontaining 85Kt Ni & 14.5Kt Co

>90% Ni & Co extractionachieved from AAL testwork

Zones of very high Scandium(Sc) a rare earth metal, andhighly anomalous Pt-Pd

New ~7,000m (~300 hole)drilling programme completedby late Sept 09.

New Ni+Co & Sc resourceestimate late Oct 09

Cobalt-Scandium rich nickel laterite

Kokomo Ni-Co-Sc

High Grade Scandium Resource4.55Mt @131g/t Sc, 0.3%Ni, 0.05%Co.Totalling approximately 596 tonnesScandium metal. (based on 103 drill holes)See Table 5 at the end of this presentation

Resource upgrade expected late Oct09 using a total of ~900 drill holes

Scandium (Sc) is a valuable rareearth “tech” metal, used as a majorenhancer for aluminium alloys, in fuelcells and lighting

Resource based on 606 Drill holesIndicated 5.2Mt @ 0.69% Ni, 0.13% CoInferred 7.0Mt @ 0.66% Ni, 0.11% Co(Using 0.7% Ni Eq (Ni + 3 Co) Cog)See Table 3 & 4 at the end of this presentation

Kokomo Ni-Co Drill Section(note: high cobalt intercepts)

4580

5330

5050

5750

6120

6400

5570

5850

5030

4750

4540

4560

6080

5440

4670

6440

4930

6040

6150

6100

5590

5600

6170

5290

5730

4500

5140

6780

6150

6480

6520

6840

5690

6880

6380

4930

5930

5960

4970

6210

5800

5010

5810

4860

5060

5620

5850

5580

4610

6250

5530

5580

5510

6370

6310

6390

6380

6190

6440

5850

4770

6440

6940

5360

5290

5820

5490

6580

5690

5310

4920

5670

6050

6430

6460

6880

6840

6990

6840

6280

6600

5800

6010

5760

6670

5300

4570

5610

5280

4800

5080

5730

4600

5020

5120

5880

5140

4530

5090

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5030

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6070

5750

6680

5920

4540

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6250

5700

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4900

4870

5160

4860

5860

4770

4600

4690

4940

5160

5240

6290

4730

5400

4590

5770

5060

4670

6530

5300

6830

4960

6430

5120

5420

5340

5920

6170

4950

5470

5010

1460

6560

3410

2880

3640

4170

7420

7390

4670

10600

34000

13000

17100

5840

1920

915

770

9670

8550

7500

17600

11000

5170

4870

7320

10000

7380

7850

11400

8810

7490

8710

9040

9390

15400

11900

3400

1900

1950

965

830

630

8000

9090

13000

13200

9630

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7810

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7410

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5800

2570

1160

1260

660

655

940

5200

2690

7060

8770

8720

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8090

7930

10500

1230

845

535

4310

12900

22500

15700

7020

5860

3880

6230

4530

1460

1610

1870

2200

810

780

1190

1730

1900

600

525

4670

5090

8150

3580

734

2430

3780

2420

2220

727

1370

974

2030

6430

1810

6370

7390

1450

1415

1580

2340

1810

2230

539

1735

2220

1475

4660

4380

3780

5840

9260

10600

6670

3190

7110

1325

1420

1595

7310

7660

8040

12000

24000

14400

19000

18200

9000

10400

14000

7020

9020

11700

8420

8790

11400

14200

8120

9850

809

525

853

524

653

1500

4390

2600

993

574

10600

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10200

9650

8540

9700

500

710

1200

930

1750

2190

3550

2980

3050

1990

1310

500

11600

25000

14300

15000

21600

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8070

9170

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8550

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8360

10700

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3130

1480

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2190

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1590

1130

560

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510

610

12300

9630

9750

10800

13100

8120

12800

18600

21300

19100

9960

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7920

9960

1420

8690

8230

8900

9560

8820

7620

9520

9670

11400

7110

860

1510

1410

910

770

2150

2020

1230

2220

2840

3280

8410

2510

1420

630

1120

880

560

650

730

510

700

2460

660

510

570

560

7600

7690

7490

7930

10500

9620

7620

7890

7720

8630

7800

20100

12800

15100

14500

500

660

9450

7620

17000

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29500

30900

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1410

1500

1600

2230

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1890

1980

2160

3780

4020

6010

5810

7360

4890

980

1100

620

560

940

710

1340

1510

2430 7560

7970

9080

9850

9230

7570

7920

7690

8620

11200

12900

10400

12400

15100

12300

7870

10500

11700

11600

10600

9610

9100

8640

14800

15400

13400

13900

10900

9520

11900

16300

8790

16500

8330

8810

16900

16400

7460

550

650

730

7920

1840

5280

2630

2330

940

1780

2110

1110

1240

5390

1410

2810

4060

2900

1270

1260

1070

620

520

8180

8750

4600

1960

1570

5570

590

980

7120

3440

2940

6120

4310

6850

4540

5100

3030

1540

1380

6250

8260

1620

3630

1520

12500

14100

10500

10900

14400

10600

14900

16900

12100

10600

12600

11100

9750

9120

10900

10000

13800

20800

10100

8980

7340

11200

10100

18400

1470

780

700

3370

6840

3170

690

1010

670

9140

14400

9260

7550

11000

10800

7450

9800

14300

12600

11600

1350

620

800

4440

1810

1360

670

8740

15500

10400

10000

4150

4930

1750

1630

1150

500

1580

13500

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17200

13200

11600

8170

1900

1930

1150

1140

630

1670

5310

2460

1860 14100

16100

14500

8600

11100

9200

8600

8400

7090

18200

17100

335

495

420

405

255

295

260

340

460

425

455

490

375

270

490

390

440

310

415

355

426

311

374

273

341

386

333

340

310

420

300

300

310

260

480

380

250

250

460

250

470

330

360

250

260

450

300

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250

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270

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310

260

360

280

250

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400

260

290

480

260

270

260

350

270

450

450

410

360

450

470

370

360

430

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290

270

260

390

450

350

420

470

390

270

320

360

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250

410

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300

270

340

250

380

390

270

300

270

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370

280

260

370

430

400

380

400

330

10 metres

KK-011KK-0

15

KK-050KK-1

43

KK-317

KK-335 KK-337

KK-049

KK-173

KK-284 KK-355

KK-107

KK-566KK-587

KK-085

KK-541

KK-545KK-575

KK-536

KK-538

12m @ 0.80% Ni,0.11% Co

12m @ 0.83% Ni,0.12% Co

27m @ 0.73% Ni,0.82% Co

45m @ 0.71% Ni,0.10% Co

44m @ 0.51% Ni,0.13% Co

19m 1.12% Ni,0.36% Co

31m @ 0.73% Ni,0.16% Co

35m @ 0.90% Ni,0.33% Co

32m @ 0.87% Ni,0.20% Co

15m @ 0.93% Ni,0.14% Co

9m @1.73% Ni,0.02% Co

11m @ 1.02% Ni,0.09% Co

8m @ 1.28% Ni,0.13% Co

27m @ 1.18% Ni,0.40% Co

10m @ 0.94% Ni,0.27% Co

27m @ 1.19% Ni,0.29% Co

7m @ 1.08% Ni,0.54% Co

13m @ 1.10% Ni,0.15% Co

4m @1.12% Ni,0.21% Co

5m @ 1.52% Ni,0.25% Co

6m @ 1.07% Ni,0.09% Co

7m @ 0.91% Ni,0.10% Co

1 kilometre

SN

KK-162

KK-150

Scale

Kokomo - Central PlateauLong Section

F

F

Significant Ni/CoMineralisation

High GradeNi/Co EnvelopeBased on Drill HoleProjected ontoone plane

(Not all Drill Holes Shown)

Example of Kokomo Scandium Drill Section

wide, shallow intercepts and high Sc grades in oxide/laterite (with noassociated uranium, arsenic etc deleterious or toxic metals)high-grade scandium zones located adjacent to the Kokomo nickel-cobalt oresSc deposit based on drilling to date contains 600t of scandium metalFurther drilling 300 holes should increase this figure substantiallyThe Kokomo Sc deposit is open along strike and at depth (lower gradebasement rocks)

Cape Alumina - 33% held by MetallicaASX Listed 29 January 2009 “CBX”

““AustraliaAustralia’’s leadings leadingpurepure--play Bauxite companyplay Bauxite company””

Weipa Bauxite Project 100%

Cape AluminaKey Points (MLM 33%)

Premier land position -Tenementsover 2,400 km² of world-class Weipabauxite province - 100% held.

Backed by major Chinese AluminaCompanies

Feasibility for ~5-7 mtpa FOBbauxite sales (China market) DSO

130Mt of 27.5Mt Measured, 56MtIndicated and 46.6Mt Inferred insituBauxite – See Cape Alumina ASX release dated2 July 2009 or Table 5 at the end of this presentation

Shareholders 33% MLM,22% RCF,19% Xinfa, 16% Bondline,

$11.5M cash – no debt (14/07/09)

LUCKY BREAK NICKEL PROJECTLocation

• MLM (free carried) 60% MFC 40%JV

•Undergoing Revised Feasibility study

Metallica’s Investment Summary

1. Well funded $14.5 million cash, no debt, MCap~A$36M

2. 50Mt Nickel-Cobalt resource (containing 364Kt Ni &29Kt Co) potential for long life Ni & Co production

3. MLM owns 42M shares (~33%) in Cape Alumina (CBX) -large 100% owned holding in world class bauxite province

4. 79% MetroCoal holds ~4,000 km² Surat Coal BasinExcellent potential for conventional thermal coal, UCG,syngas-energy, GTL-fuels – IPO planned late 2009

5. Active corporately – acquiring 76% of Planet Metals Ltdwhich has the Wolfram Camp Tungsten-Moly mine and MtCannindah Cu-Au resource

“Clear strategy for major growth”

Forecast Project Update - Next few months

Late Oct 09New Resource upgrade using latestKokomo drilling

Scandium

Mid Sept 09

Dec 09

3,000m core drilling commences atWolfram Camp Tungsten MineNew W-Mo Resource estimate

Tungsten

Early Sept 09

Late Sept 09Drilling programme commencedComplete Pre-Feasibility Study

Bauxite

Late Oct 09

Oct 09

Planning to lodge MetroCoal IPOProspectusStart Surat Seismic Survey

Coal

Late Sep09Late Oct 09

Oct 09

Kokomo drilling completedNew Kokomo Ni+Co &Sc resourceestimate based on ~900 holesNORNICO AAL Metallurgy update &Scoping Study

Ni-CoDateWork plannedProject

METALLICA MINERALSMETALLICA MINERALS“A Queensland Multi-Commodity Resource Company”

Thank youNickel-Cobalt + Coal + Bauxite

+ Copper-Gold + Tungsten

Hilton Hotel, Sydney21-22 September 2009

Resource TablesAddendum

(All Resource Tables are compiled to guidelines outlined in the JORC code)

MetroCoal Ltd – Juandah Coal ResourceEstimate

NORNICO Nickel-Cobalt Resource Estimate

Kokomo Scandium Resource Estimate

Cape Alumina Pisolite Hills BauxiteResource Statement

METROCOAL LTD - JUANDAH 172 MtCOAL RESOURCE ESTIMATE

The JORC-compliant Inferred and Indicated Resource estimate was prepared following asuccessful 16 hole drilling program completed on the Juandah coal project.The drilling campaign delineated the target Macalister Upper Seam in all 16 boreholes andis continuous and correlateable across the drilled area, generating the resource estimateannounced today, and which comprises:

Juandah Project Macalister Upper Coal Seam ResourceInferred Resource 149.2MtIndicated Resource 22.5MtInferred & Indicated 171.7Mt

Coal resource estimation has been carried out over the Juandah Project Area inaccordance with the JORC Code. The inferred resource estimate is based on points ofobservation no more than 4km apart and not exceeding 1km past the last data point. Theindicated resource estimate is based on points of observation no more than 1km apart. Theworking section used comprises the MU10, MU20, MU30, MU40 and MU50 ply’s of theMacalister Upper Seam. The Macalister Lower Seam and all uncorrelated coal has beenexcluded from the resource estimate.Coal quality appears typical of Surat Basin coals with laboratory analysis showing insituspecific energy of the working sections averaging 20.6 MJ/kg on an air dried basis (forfurther information see Metallica ASX Release 28 May 2009).

Competent Persons StatementThe information in this statement that relates to in situ coal results and resources is based on information compiled by GeoConsult and reviewed by Warwick Smyth, who is amember of the Australasian Institute of Mining and Metallurgy (CP) Geology; and the Australian Institute of Geoscientists. Warwick Smyth is a qualified geologist (BSc Geol,Grad Dip AF&I, MAusIMM (CP), MGSA, MAIG), and has over 17 years experience which is relevant to the style of mineralisation, the type of deposit under consideration and tothe activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the Australia Code for Reporting of Coal Resources. Warwick Smythconsents in writing to the inclusion in the statement of the matters based on the information in the form and context in which it appears.

The information in this statement that relates to in situ coal results are based on information compiled by Neil Mackenzie-Forbes, who is a member of the Australian Institute ofGeoscientists and a full time employee of MetroCoal Ltd. Neil Mackenzie-Forbes is a qualified geologist (B App Sc, MAIG), and has over 15 years experience with over 9 yearsrelevant to the style of mineralisation, the type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the2004 edition of the Australia Code for Reporting of Coal Resources. Neil Mackenzie-Forbes consents in writing to the inclusion in the statement of the matters based on theinformation in the form and context in which it appears.

NORNICO Nickel – Resource InventoryTable 3 – Measured, Indicated and Inferred

NORNICODeposit

TonnesMt

NickelNi (%)

CobaltCo (%)

IronFe (%)

MagnesiumMg (%)

ContainedTonnes Ni

Bell Creek South 11.41 0.88 0.06 11.0 7.7 100,580

Bell Creek North 5.64 0.65 0.02 8.9 8.9 36,660

Bell Creek NW 5.18 0.67 0.04 14.1 5.3 34,710

BC - The Neck 1.39 0.73 0.02 8.3 6.9 10,120

BC -The Pod 0.28 0.73 0.05 9.2 5.7 2,020

Minnamoolka 14.73 0.66 0.03 9.4 11.7 97,820

Kokomo # 12.20 0.67 0.12 21.7 3.7 82,080

TOTAL 50.83 0.72 0.06 13.0 7.7 363,990

• NORNICO Resource - Bell Ck + Minnamoolka + Kokomo

• Using a 0.45% Nickel cut-off grade, except # Kokomo uses 0.7%Ni Eq Cog

Table 4: NORNICO Nickel Resource InventoryFor further information see ASX Release dated 16 January 2009

Combined Total: 50.83 Mt @ 0.72% Ni, 0.06% Co containing 364Kt Ni, 29Kt Co Metal

NickelResource

MeasuredMt @ Ni%

IndicatedMt @ Ni%

InferredMt @ Ni%

TonnesNi

Bell Creek South 10.9 @ 0.89% 0.51 @ 0.70% 100,580

Bell Creek North 5.64 @ 0.65% 36,600

Bell Creek North-West 5.18 @ 0.67% 34,710

The Pod 0.28 @ 0.73 2,020

The Neck 1.39 @ 0.73 10,120

Minnamoolka 11.83 @ 0.67% 2.90 @ 0.64 97,820

Kokomo 5.20 @ 0.69% 7.00 @ 0.66% 82,080

TOTAL 10.9 @ 0.89% 29.75 @ 0.67% 10.18 @ 0.65% 363,990

Competent Person Statement

This NORNICO Mineral Resource estimate is based upon and accurately reflects data compiled, validated or supervised by MrJohn Horton, Principal Geologist, who is a Member of the Australasian Institute of Mining and Metallurgy and a full timeemployee of Golder Associates Pty Ltd. Mr Horton has sufficient experience that is relevant to the style of mineralisation andthe type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person asdefined in the 2004 edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and OreReserves’. Mr. Horton consents to the inclusion of this information in the form and context in which it appears in this document.For Further details and see Metallica ASX Release dated 19 January.

Table 5: Kokomo Scandium Deposit –Resource Categories

5961314.45Total

1341420.95Inferred

4621283.60Indicated

Tonnes(Sc Metal)

Sc(ppm)

Tonnes(Mt)

Category

Note - resource is based on 107 RC holes, COG of 60ppm Sc was used. Only the scandiummineralisation within the laterite (weathered) zone was included in the estimate

This Mineral Resource estimate is based upon and accurately reflects data compiled and validated byPatrick Smith (Metallica’s Exploration manager) who is a Member of the Australasian Institute ofMining and Metallurgy and a full time employee of Metallica Minerals Ltd. Mr Smith has sufficientexperience that is relevant to the style of mineralisation and the type of deposit under considerationand to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and OreReserves’. Mr. Smith consents to the inclusion of this information in the form and context in which itappears in this document.

For further information see Metallica Quarterly Report dated 29 April 2009.

Table 6: Mineral Resource for Pisolite Hills bauxitedeposits within EPM14547 and EPM15278

86.1

28.0

37.9

20.1

DryBeneficiated

Tonnes(Mt)

Beneficiated Bauxite Qualities

41.57.566.125.22.26.853.112.4130.2GLOBAL TOTAL

40.88.160.224.82.37.651.813.246.6Total Inferred

41.87.667.625.32.26.253.512.556.1Total Indicated

41.86.473.125.62.26.754.410.827.5Total Measured

THA(%)**

RSiO2

(%)Recovery

(%)LOI(%)

TiO2

(%)Fe2O3

(%)TotalAl2O3

TotalSiO2

In-situDry

Tonnes(Mt)

ResourceCategory

Area

* RSiO2 – Reactive silica at 150°C** THA - Trihydrate Available Alumina (gibbsite alumina + kaolinite alumina - low temperature desilication product [DSP] alumina) at 150°CNote: The Pisolite Hills Mineral Resource has been reported assuming that the bauxite will be blended with an external source during low-temperatureprocessing to ensure that the bauxite material feed achieves reactive silica and iron oxide thresholds specific to a nominated alumina refinery.

Competent Persons StatementThe information in this report related to Mineral Resources was compiled by Mr Justin Legg and Mr Matthew Nimmo and reviewed by Mr Justin Watson, who are fulltime employees of Snowden Mining Industry Consultants. Mr Legg and Mr Watson are Members of The Australasian Institute of Mining and Metallurgy and Mr Nimmois a Member of the Australian Institute of Geoscientists. The Mineral Resource estimate is based upon and accurately reflects data compiled by Mr John Cameronwho is a full time employee of Cape Alumina Limited and reviewed by Mr Legg, Mr Nimmo and Mr Watson. Mr Legg, Mr Nimmo, Mr Watson and Mr Cameron allconsent in writing to the inclusion in the matters based on the information and context in which it appears in this report.Mr Watson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertakingto qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves”.The technical information contained in this report relating to Exploration Results has been compiled by Mr John Cameron who is a competent person and a full timeemployee of Cape Alumina Ltd and member of the Australasian Institute of Mining and Metallurgy with relevant experience to the mineralization being reported on toqualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

For further information see ASX Release dated 2 July 2009