Announcement PDF • Major Reverse Circulation (RC) drilling program has commenced at Tallebung, comprising at least 70 RC drill-holes for a total of approximately 8,000m, targeting ongoing Resource expansion. • Recent drilling programs intersected significant tin mineralisation outside the existing Resource, expanding the Tallebung deposit and demonstrating that tin mineralisation remains open in all directions. • The current program will target further shallow extensions to the tin mineralisation, aiming to further broaden the Tallebung Deposit. • First assay results are anticipated in May, with a steady stream of results expected over the coming months as drilling continues. • In parallel, SKY is advancing the bulk sample metallurgical program to optimise the process flowsheet and produce marketable tin concentrates to aid in offtake marketing. SKY CEO Oliver Davies commented: “It’s great to have the drilling rig back at Tallebung to build on the excellent results we’ve seen from our recent drilling programs. This drilling has delineated significant higher-grade mineralisation beyond the existing Resource, presenting exciting growth opportunities which will be followed-up in this next round of drilling. The Tallebung deposit remains open in all directions and a fundamental aim of this program is to continue to expand the already large footprint of tin mineralisation. Additionally, infill drilling will aim to upgrade confidence in the existing Resource, which will be vital to support upcoming project feasibility studies.” Sky Metals Ltd (ASX: SKY) (‘SKY’ or the ‘Company’) is pleased to advise that a large Reverse Circulation (RC) drilling program has commenced at its flagship 100%-owned Tallebung Tin Project in central NSW. TALLEBUNG PROJECT (EL 6699, SKY 100%) EXTENSIVE RESOURCE GROWTH-FOCUSED RC DRILLING PROGRAM A large Reverse Circulation (RC) drilling program has commenced at Tallebung, comprising approximately 70 RC holes for more than 8,000m of drilling. The program is aimed at extending new zones of higher-grade tin mineralisation discovered beyond the margins of the known tin Resources at Tallebung. A significant number of shallow RC holes are also planned in the southern area of the existing MRE to expand Resources within the higher confidence Indicated Resource category. This area is likely to be targeted in the early stages of a future mining operation to extract higher-grade, shallow tin mineralisation to facilitate a rapid capital payback. Watch a video summary of this announcement & engage with SKY here SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Extension drilling is similarly designed to delineate additional areas of shallow, higher-grade mineralisation that can be incorporated into the early stages of the mine plan to bolster the Company’s goal of achieving a faster payback of project CAPEX. This program will commence with the drilling of extension drill-holes designed to continue the expansion of the Tallebung deposit. If encouraging results are received, further drill-holes will be planned and approvals submitted, with the aim of adding these holes into the current program to continue progressively expanding the deposit. First results from this program are anticipated to be received in May, with a steady stream of results expected over the next couple months as the drilling program advances. This announcement is authorised for release by the Board of Sky Metals Limited. Investors: Oliver Davies – Managing Director & CEO +61 (0) 430 359 547 Media: Nicholas Read – Read Corporate +61 (0) 419 929 046 JOIN SKY METALS’ INTERACTIVE INVESTOR HUB Visit skymetals.com.au to interact with Sky Metals’ announcements and updates To watch a video summary of this announcement & engage with SKY click here About the Tallebung Tin Project (100% SKY) Tallebung stands as an open-pit, technology enabled, near-term tin development project. Tallebung is uniquely placed to provide secure tin supply, to feed irreplaceable and rapidly expanding tin demand, essential in semiconductors, electronics and solar PV technologies. The Tallebung Tin Project is located at the site of large-scale historical tin mining in central Western NSW where tin was first discovered in the 1890s. SKY is progressively defining a large-scale hardrock tin resource with recent higher-grade tin zones discovered on the margins of the known deposit and exceptional metallurgical performance demonstrated across the entire known deposit. The shallow, open-pit tin veins combined with the ideal nature of the tin, hosted as large, discrete grains of simple tin-oxide (cassiterite minerals), all ideally lends itself to low-cost tin production advantages, including exceptional X-ray based ore sorting performance, demonstrated to upgrade the tin up to 44x, prior to low-cost gravity separation to produce a saleable tin concentrate. 2 Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr. Oliver Davies, who is a Member of the Australasian Institute of Geoscientists. Mr. Oliver Davies is an employee and director of Sky Metals Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr. Davies consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Previously Reported Information The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www.asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Disclaimer This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Sky Metals Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Sky Metals Ltd. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists. 3