westpac to fund white range up 8%

Project Funding
Matrix Metals Limited (“Matrix”) is pleased to announce that following
completion of a competitive selection process, the Company has chosen
Westpac Banking Corporation (“Westpac”) as debt provider in respect of the
development of the White Range Project (“Project”) located in the Mt Isa region
of Queensland.
Subject to completion of the already well advanced due diligence process,
satisfaction of conditions precedent and Matrix determining its overall preferred
financing structure, Westpac will provide a facility in the order of $40 million.
In addition to this debt package, Matrix is also in receipt of indicative offers of
funding of approximately $15 to $25 million related to providing off-take rights to
an off-take party, with the preferred off-take partner yet to be selected by Matrix.
Matrix anticipates that these funding sources will allow for a rapid move to
formal commitment to development of the Project.