Overview of Diatreme's takeover bid for Metallica Minerals

Metallica Minerals Limited (ASX: $MLM) acknowledges Diatreme Resources Limited's (ASX: $DRX) intention to make a takeover bid for all its ordinary shares. The bid is subject to regulatory steps and conditions, including specific relief from ASX and ASIC. Metallica's Board advises shareholders to take no action until a formal response and recommendation are provided.

Executive commentary on the takeover bid

The Board of Metallica Minerals recommends shareholders to await the formal response and recommendation from the Board. We will evaluate the disclosure provided by Diatreme and engage with key stakeholders to achieve the best outcome for our shareholders. This announcement has been approved in accordance with the Company's published continuous disclosure policy and has been approved by the Board.

Summary of Diatreme's takeover bid and Metallica's response

Diatreme Resources Limited has expressed its intention to make a takeover bid for all ordinary shares in Metallica Minerals Limited, subject to regulatory steps and various conditions. Metallica's Board advises shareholders to take no action until a formal response and recommendation are provided. The Board anticipates evaluating the disclosure provided by Diatreme and engaging with key stakeholders to achieve the best outcome for Metallica shareholders.