Metals X Limited (Metals X or the Company) is pleased to provide an update of the Mineral Resources for the Renison Tin Operation (Renison) in Tasmania.

Renison is 50%-owned by Metals X through the Bluestone Mines Tasmania Joint Venture (BMTJV).

HIGHLIGHTS (100% basis) New Mineral Resource modelling completed for Renison Bell using data up to 31 March 2024, Rentails Resource remains unchanged. Increase in Mineral Resource ore tonnes and decrease in tin grade and metal. The Renison resource now stands at 20.2 Mt at 1.45% tin for a total of 291,000 tonnes of contained tin. Measured and Indicated Resource tonnage increased by 140 Kt and tin tonnes decreased by 5% to 257 Kt of contained tin. Inferred Resources tonnage decreased by 30 Kt and tin tonnes decreased by 8% to 34 Kt of contained tin. Continuing commitment to underground resource definition and grade control drilling, with the addition of a third underground diamond drill rig. The Renison Life-of-Mine Plan and an update of the Ore Reserve is expected to be completed in Q3 2024.

Executive Director, Mr Brett Smith, commented: 'Renison is a world class tin deposit and Australia's largest primary tin producer. The results from the 2024 Mineral Resource update represent the ongoing definition and resource drilling and updated modelling assumptions. Resource growth this year was impacted by continued resource definition drilling to support the life of mine plan. An additional underground drill rig has been mobilised to site to drill extensional targets. This extensional drilling along with the current surface 'Ringrose' drilling are expected to continue to deliver ongoing growth in the resource.'

This announcement has been authorised by the Board of Directors of Metals X Limited ENQUIRIES Mr Brett Smith Executive Director E: brett.smith@metalsx.com.au

Competent Person's Statement

The information in this report that relates to Mineral Resources has been compiled by Bluestone Mines Tasmania Joint Venture Pty Ltd technical employees under the supervision of Mr Colin Carter B.Sc. (Hons), M.Sc. (Econ. Geol), AusIMM. Mr Carter is a full-time employee of the Bluestone Mines Tasmania Joint Venture Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Carter consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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