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METALLICA FURTHER STRENGTHENS CASH POSITION

- Metallica further strengthens cash position
- 9 million MetroCoal shares sold for $4.5m
- 2012 New Year cash-on-hand exceeds $12m

Australian resource development company, Metallica Minerals Limited, is pleased to announce that it has substantially added to its cash reserve strength to in excess of A$12 million for the start of the 2012 calendar year with the further sale of 9 million ordinary shares in ASX-listed coal group, MetroCoal Limited (ASX-MTE) which has large thermal coal projects in the Surat Basin of southeast Queensland.


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