Metal Bank (ASX: $MBK) Announcement Overview

Metal Bank Limited (ASX: $MBK) has announced the acquisition of surface exploration rights over Area 47 in Jordan, a region with potential for copper and molybdenum mineralisation. The company is also progressing an application for exploration rights in Area 65, north of the Malaqa Project. Metal Bank plans to conduct surface evaluation of the new areas and Malaqa, with the intention to plan drilling of all three projects in the same campaign. This move strengthens Metal Bank's MENA strategy and complements its ongoing project acquisition initiatives in Saudi Arabia.

Executive Commentary on Jordan Exploration Rights

Area 47 forms part of MBK's three-project strategy in Jordan. The plan is to systematically work up all three projects, Malaqa, Area 47, and Area 65 (once granted) to drilling status at the same time to provide cost-effective scale due to the need to import a drill rig and team from Saudi Arabia. Encouragingly, we continue to receive great support from the Ministry of Energy & Mineral Resources. Our three-project strategy in Jordan forms part of our greater MENA strategy combining both Saudi Arabia and Jordan for highly prospective copper and critical minerals exploration. The Southern region of Jordan is part of the prolific Nubian Shield which hosts abundant world-class deposits, and our early work in this region will continue to provide further project opportunities in the future. We look forward to reporting further updates over the coming weeks.

Summary of Metal Bank's Expansion Strategy

Metal Bank's acquisition of exploration rights over Area 47 in Jordan, along with the ongoing application for rights in Area 65, reflects the company's commitment to expanding its presence in the MENA region. The strategic focus on highly prospective copper and critical minerals exploration in both Jordan and Saudi Arabia aligns with the company's ambitions to tap into the abundant world-class deposits within the prolific Nubian Shield. The company's plan to bring all three projects in Jordan to drilling status simultaneously demonstrates a cost-effective approach, leveraging the support from the Ministry of Energy & Mineral Resources. Metal Bank's exploration programs aim to substantially increase JORC Resources, identify additional mineralization, and assess development potential, reflecting a strategy of diversification and growth through new exploration opportunities and acquisition of advanced projects.