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## DIRECTORS’ DECLARATION 

In accordance with a resolution of the Directors of Metals X Limited, I state that: 

In the opinion of the Directors: 

(a)the financial statements and notes of the Company and of the Consolidated Entity are in accordance with the Corporations Act 2001, including: 

(i) giving a true and fair view of the Company's and the Consolidated Entity's financial position as at 30 June 2011 and of their performance for the year ended on that date; and 

(ii)complying with the Australian Accounting Standards (including the Australian Accounting Interpretations) and Corporations Regulations 2001; and 

(b)the financial statements and notes also comply with International Financial Reporting Standards as disclosed in note 2(b) and; 

(c)there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; and 

(d)this declaration has been made after receiving the declarations required to be made to the Directors in accordance with section 295A of the Corporations Act 2001 for the financial year ended 30 June 2011. 

On behalf of the Board. 

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