• IOCG alteration in Boomara area drill core (KDD13, 375.6m).
• Boomara - Location of prior drilling on magnetic image.
• Boomara - Interpreted basement geology.

Boomara Project

Exploration within the Boomara Project is targeting IOCG deposits along a 100km strike length of Proterozoic Mount Isa Inlier basement rocks. Granted tenements and tenement applications within the project area are held 100% by MET.

Key exploration features of the project include a complex magnetic basement, interpreted multiple fault systems and evidence of IOCG-style alteration in historical third party drilling which included halo grade copper and gold intersections. Mesozoic cover depths typically range from 150m to 300m.

Historical exploration within the Boomara area has primarily focused on the southern end of the current MET project area and has been dominated by magnetic and gravity geophysical surveys and geophysical modelling with limited drill testing of the Proterozoic basement.

IOCG-style mineralisation recorded from limited drilling within the project area includes, in drill hole BMD030:

• 52m @ 0.26% Cu and 0.12g/t Au
• 60m @ 0.21%

At the Jimmy's Creek Prospect, which sits to the south of the Company's tenements, previous explorers have also intersected strong albite-haematite-magnetite alteration and multi stage breccias including 211m @ 0.33% Cu and 0.16g/t Au (BMD021) and 124m @ 0.27% Cu and 0.06g/t Au (BMD017).

In December 2011 MET announced an Earn-in and JV Agreement with Xstrata Mount Isa Mines over the entire Boomara Project permit area. Under the terms of the agreement Xstrata Mount Isa Mines can earn up to 51% of the Boomara Project by spending $1 million over 3 years and an additional 29% by spending an additional $2.5m in the 3 years after the initial earn-in.