Metallica Minerals Limited (ASX:MLM) Update On Cash Position And Listed Investments

Brisbane, April 19, 2011 AEST (ABN Newswire) - Following a significant increase last week in the share price of MetroCoal Limited(ASX:MTE) (Metallica 45.3% shareholding) and frequent questions from shareholders and investors, Metallica Minerals Limited (ASX:MLM) is pleased to provide an update on its cash position and the approximate value of the Company's ASX-listed investments, as of today, 19 April, 2011. Similar updates will be issued periodically.

Metallica's cash and listed share investments currently total approximately A$57 million compared to the Company's market capitalisation of around A$33 million. Metallica also has substantial additional mineral asset value in its flagship NORNICO nickel-cobalt & scandium project in north Queensland, plus advanced zircon-rutile and limestone-lime projects.

For the complete Metallica Minerals announcement including tables, please view the following link:
http://www.abnnewswire.net/media/en/docs/231291.pdf

Contact

Andrew Gillies Managing Director Metallica Minerals Limited Tel: +61-7-3249-3000 John Haley Director/CFO Metallica Minerals Limited Tel: +61-7-3249-3000