MT CARBINE QUARRY & MINING LEASES – SALE & PURCHASE AGREEMENT...

MT CARBINE QUARRY & MINING LEASES – SALE & PURCHASE AGREEMENT UPDATESpeciality Metals International Limited (ASX:SEI, Speciality Metals or the Company) wishes to advise that the Boardhas progressed negotiations with a number of key international and local financiers. Two of the international partiesare now in the advanced stages of their due diligence process. There are still several other parties considering the MtCarbine opportunity.Executive Chairman of Speciality Metals, Mr Russell Krause stated:“Your Board is continuing in its efforts to secure the most cost-effective funding model for the purchase of the MtCarbine Quarry and Mining Leases and are expecting that the Company will be able to successfully secure the requiredfinancing from at least one of the above parties. The Board looks forward to unlocking the full value of its world-classMt Carbine Tungsten Project once the purchase has been finalised.”