Planet Metals Limited

Asian Activities Report for May 19, 2011 includes: Papillon Resources Limited (ASX:PIR) confirmed major gold discovery in Mali; Fe Limited (ASX:FEL) is to target 1.0-1.4 billion tonnes of iron at Mt Ida Iron Ore Project; Focus Minerals (ASX:FML) has started ore production at the Tindals Mining Centre in Western Australia; Planet Metals Limited (ASX:PMQ) is in a strong financial position to accelerate its copper-gold projects in Queensland.

Metallica Minerals Limited (ASX:MLM) is pleased to advise that its 76% owned subsidiary, Planet Metals Limited (ASX:PMQ), has announced that the sale of the Wolfram Camp Project has been completed.

Australian Market Report of December 24, 2010 includes: Drake Resources (ASX:DRK) today announced a placement of A$2.18 million; Discovery Metals Limited (ASX:DML) announced high grade results at the infill drilling; Planet Metals (ASX:PMQ) has signed a farm-in agreement with Drummond Gold Limited (ASX:DGO); Mako Energy Limited (ASX:MKE) successfully closed a placement of A$4.5M.

Metallica Minerals Limited (ASX:MLM) advises that its 76% owned subsidiary, Planet Metals Limited (ASX:PMQ), has signed signed a Share Sale Agreement with Tropical Metals Pty Ltd in respect of Planet Metals' 100% owned subsidiary, Wolfram Camp Mining Pty Ltd ("WCMPL") for a total sale price (including deposits) of A$7.9 million.

Metallica Minerals Limited (ASX:MLM) advises that its 76% owned subsidiary, Planet Metals Limited (ASX:PMQ), has signed signed a Share Sale Agreement with Tropical Metals Pty Ltd in respect of Planet Metals' 100% owned subsidiary, Wolfram Camp Mining Pty Ltd ("WCMPL") for a total sale price (including deposits) of A$7.9 million.

Metallica Minerals Limited (ASX:MLM) advises that its 76% owned subsidiary, Planet Metals Limited (ASX:PMQ), has signed a Heads of Agreement (Option to Purchase) for the sale of the Planet Metals Limited subsidiary which holds the Wolfram Camp tungsten project for A$8 million.

Metallica Minerals Limited (ASX:MLM) are pleased to announce a non-cash selective share buy-back and transfer agreement (the Agreement) between the Company and its second largest shareholder, Resource Capital Funds III and IV (RCF). The agreement, which is subject to Metallica shareholder approval, effectively involves RCF exchanging 7.74 million of its shares in Metallica for approximately 3.9 million shares in Cape Alumina Limited (Cape Alumina) (ASX-CBX) which are currently held by Metallica.