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MetalNRG Plc - Positive Progress US Cobalt Update

MetalNRG plc

("MetalNRG" or the "Company")

21 July 2017

Positive Progress US Cobalt

MetalNRG plc (NEX:MNRG) the natural resource investing company quoted on the NEX Exchange Growth Market in London is pleased to advise that the Company's investee, US Cobalt Pty Limited ("US Cobalt"), has commenced the next stage ground exploration programme at their wholly owned cobalt project in Nevada, USA.

Concurrently, MetalNRG's Chief Executive Officer has been on the ground, with technical advisers, to review the project from an operational and technical perspective. Further information will be provided shortly with regard to the exploration programme being conducted and also with regard to the early stages of our project due diligence.

Investors should read the Company's announcement dated 12 July 2017 which outlined the terms of the Company's investment in US Cobalt. These terms provide MetalNRG with an immediate 18.18% holding in US Cobalt with an option agreement to acquire the remainder 81.82% through an entirely MetalNRG shares based transaction.

Paul Johnson, CEO of MetalNRG commented: "This is an exciting time for the Company, with our investee US Cobalt active on the ground with the next stage of their cobalt focused work programme. We have been able to meet the key members of the team, review the key project targets, consider strategic planning and further enhance our knowledge of this tremendous opportunity.

Should a cobalt supply deficit develop the impact on the pricing of the cobalt commodity will be pronounced. MetalNRG is well positioned for this with existing interests. We are continuing to build our cobalt portfolio and anticipate the addition of more opportunities in Australia, and potentially the expansion of our US interests, in due course.

We are working exceptionally hard to secure cobalt interests on fair terms, as quickly as possible. The interest shown in our work by shareholders, investors and a number of third parties suggests we are on the right track. Without question, there is a gap in the UK market for a wholly cobalt focused listed vehicle and with that in mind the Company is considering dedicating its activities, at least for the short term, to building a cobalt focused operation.

There will be more news to follow shortly. Thanks go out to our shareholders, and new investors, for their continuing support and proactive engagement in the MetalNRG developing story."

Further information in respect of this exploration programme, including

The Directors of the Company accept responsibility for the contents of this announcement.

Contact details:

MetalNRG plc
Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465617

NEX Exchange Corporate Adviser
Guy Miller
Mark Anwyl

Corporate Broker +44 (0) 1483 413500
Nick Emerson
Andy Thacker

+44 (0) 20 7469 0930

Notes for Editors:

MetalNRG is quoted on the NEX Exchange Growth Market in London with the stock code MNRG and is a natural resource investing company.

NEX Exchange:

Investors wishing to consider trading in NEX Exchange Growth Market quoted shares can access this market from numerous brokers, a full list of which can be accessed through the following link:

The list accessed through the link above includes certain brokers offering online trading of NEX Exchange quoted shares.

The Investing Policy of the Company is as follows:

The Company's proposed new Investing Policy is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth and value creation, over the medium to long term. The Company will also consider opportunities in other related sectors if the Board considers there is an opportunity to generate an attractive return for Shareholders. This will include natural resource technologies and fintech opportunities offering leverage to resource identification, processing, recording, storage and trading businesses.

Where appropriate, the Board may seek to invest in businesses where it may influence the business at a board level, add their expertise to the management of the business, and utilise their significant industry relationships.

The Company's interests in a proposed investment and/or acquisition may range from a minority position to full ownership and may comprise one investment or multiple investments. The proposed investments may be in either quoted or unquoted companies; be made by direct acquisitions or farm-ins; and may be in companies, partnerships, earn-in joint ventures, debt or other loan structures, joint ventures or direct or indirect interests in assets or projects.

The Board may focus on investments where intrinsic value can be achieved from the restructuring of investments or merger of complementary businesses. The Board expects that investments will typically be held for the medium to long term, although short term disposal of assets cannot be ruled out if there is an opportunity to generate an attractive return for Shareholders. The Board will place no minimum or maximum limit on the length of time that any investment may be held. The Company may be both an active and a passive investor depending on the nature of the individual opportunity.

Where the Company builds a portfolio of related assets it is possible that there may be cross-holdings between such assets. The Company does not currently intend to fund any investments with debt or other borrowings, but may do so if appropriate. Investments in early stage assets are expected to be mainly in the form of equity, with debt potentially being raised later to fund the development of such assets. Investments in later stage assets are more likely to include an element of debt to equity gearing. The Board may also offer new Ordinary Shares by way of consideration as well as cash, thereby helping to preserve the Company's cash for working capital and as a reserve against unforeseen contingencies including, for example, delays in collecting accounts receivable, unexpected changes in the economic environment and operational problems.

The Board will conduct initial due diligence appraisals of potential business or projects and, where they believe further investigation is warranted, intend to appoint appropriately qualified persons to assist. The Proposed Board believes its expertise will enable it to determine quickly which opportunities could be viable and so progress quickly to formal due diligence. The Company will not have a separate investment manager. The Company proposes to carry out a comprehensive and thorough project review process in which all material aspects of a potential project or business will be subject to rigorous due diligence, as appropriate.

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