content_image/254905.jpg content_image/254904.jpg
## MINING RESERVE ESTIMATE – CONSOLIDATED AS AT 30 JUNE 2011 

## TIN DIVISION 

<img src='content_image/254905.jpg'>

## NICKEL DIVISION 

<img src='content_image/254904.jpg'>

*Reserves are a sub-set of the IMR estimate 

## COMPETENT PERSONS STATEMENT 

The information in this report that relates to Exploration Results is compiled by Metals X technical employees under the supervision of Mr Peter Cook (BSc (Applied Geology) (MSc (Min. Econ) MAusIMM). Mr Cook is not a full-time employee of the company. Mr Cook is an advisor to Metals X and the Non-Executive Chairman of Metals X. Mr Cook has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Cook consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. 

