18 January 2013

ASX Market Announcements

ASX Limited

Level 4

20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

SUBSTANTIAL SHAREHOLDING NOTICES

Please find enclosed Notices of Change in Substantial Shareholding which have been lodged with Catalyst Metals Limited by Trapine Pty Ltd and Robin Scrimgeour.

Yours faithfully

FRANK CAMPAGNA

Company Secretary

Level 3, 50 Colin Street West Perth WA 6005 PO Box 778, Claremont WA 6910
Telephone: (61-8) 9383 2825 Facsimile: (61-8) 9284 5426 www.catalystmetals.com.au ABN 54 118 912 495

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

ToCompany Name/Scheme Catalyst Metals Limited

ACN/ARSN 118 912 495

1. Details of substantial holder (1)

Name Trapine Pty Ltd
ACN/ARSN (if applicable) 003 848 477
There was a change in the interests of the
substantial holder on 17 / 01 / 13
The previous notice was given to the company on 13 / 02 / 12
The previous notice was dated 13 / 02 / 12

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)

Previous notice

Present notice

Person's votes

Voting power (5)

Person's votes

Voting power (5)

Ordinary shares ("Ord")

5,410,447

11.58% *

5,484,135

11.74%

* Adjusted percentage to reflect dilution from subsequent share issues by Catalyst Metals Limited.

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company are as follows:

Date of

change

Person whose

relevant interest changed

Nature of change (6)

Consideration given in

relation to change (7)

Class and number of

securities affected

Person's votes

affected

Trapine Pty Ltd

Dilution due to share issues by Catalyst Metals Limited

03.04.12

Trapine Pty Ltd

Share purchase plan subscription

$15,000

37,500 Ord

37,500

09.01.13

Trapine Pty Ltd

Exercise of options

$8,094

16,188 Ord

16,188

17.01.13

Trapine Pty Ltd

Exercise of options

$5,000

10,000 Ord

10,000

17.01.13

Elshaw Pty Ltd

Exercise of options

$5,000

10,000 Ord

10,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant

interest

Registered holder

of securities

Person entitled to be

registered as holder

(8)

Nature of relevant interest (6)

Class and

number of securities

Person's

votes

Trapine Pty Ltd

Trapine Pty Ltd

Trapine Pty Ltd

Registered holder

4,746,273 Ord

4,746,273

Trapine Pty Ltd

Merewether Pty Ltd

Merewether Pty Ltd

Beneficial interest held by the family interests of Stephen Boston in Trapine Pty Ltd and Merewether Pty Ltd

155,766 Ord

155,766

Trapine Pty Ltd

Elshaw Pty Ltd

Elshaw Pty Ltd

Beneficial interest held by the family interests of Stephen Boston in Trapine Pty Ltd and Elshaw Pty Ltd

582,096 Ord

582,096

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)

Nature of association

6. Addresses

The addresses of persons named in this form are:

Name

Address

Trapine Pty Ltd

PO Box 778 Claremont WA 6910

Merewether Pty Ltd

PO Box 778 Claremont WA 6910

Elshaw Pty Ltd

PO Box 778 Claremont WA 6910

Signature

print name Stephen Boston Capacity: Director

sign here

Date 18 / 01 / 13
DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

(2) See the definition of "associate" in section 9 of the Corporations Act 2001.

(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of
any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the

acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

(8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

ToCompany Name/Scheme

ACN/ARSN

Catalyst Metals Limited

118912495
1. Details of substantial holder (1)

Name Robin Scrimoeour

ACN/ARSN (if applicable)

There was a change in the interests ofthe

substantial holder on 17/01/13

The previous notice was given to the company on 05/12/12

The previous notice was dated 04/12/12

2. Previous and present voting power

The total number of votes attached to ali the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class ofsecurities (4)

Previous notice

Present notice

Person's votes 1 VotinQ ower (5

Person's votes l Votino oower (5

Ordinarv shares ("Ord"l

4.447 500 l 9.65%

4.587.500 l 9.82%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holderwas last required to give a substantial holding notice to the company are as follows:

Date of

chanoe

Person whose

relevant interest chanaed

Nature of change (6)

Consideration given in

relation to charige (7)

Class and number of securities affected

P

a

erson's votes ffected

140.000

17.01.13

Robin Scrimgeour

Exercise of ootions

$70.000

140,000 Ord

erson's votes ffected

140.000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest

Registered holder of securities

Person entitled to be registered as holder

18l

Nature of relevant interest (6)

Class and number of securities

Person's votes

Robin Scrimgeour

Robin Scrimgeour

Robin Scrimgeour

Registered holder

4,587,500 Ord

4,587.500

4,587.500

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)

Nature of association

6. Addresses

The addresses of persons named in this form are:

Name

Address

Robin Scrimgeour

11 Sunset Piace, Clementi, Singapore 597360

Signature

sign here

Capacity: Personal

Date 18 l O1 / 13

DIRECTIONS

(l) lf there are a number of substantialholders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust),the names could be included in an annexure to the form. lf the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group ifthe membership of each group, with the names and addresses of members is clearly seiout in paragraph 6 of the form.

(2) See the definition of "associate" in section 9 of the Corporations Acl2001.

(3) See the definition of "relevant interest" in sections 608 and 6718(7) ofthe Corporations Acl2001. (4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporale or scheme multiplied by 100. (6) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. lf subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of

any contrac,i scheme or arrangement, musiaccompany this form, together with a written statemenicertifying this contrac,i scheme or arrangement; and

(b) any qualification of the power of a person to exercise, controlthe exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Acl2001.

(7) Details of the consideration musiinclude any and ali benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation lo that acquisition. Details must be included even if the benefil is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even ifthey are noipaid directly to the person from whom the relevant interest was acquired.

(8) lf the substantialholder is unable to determine the identity of the person (eg.ifthe relevant interest arises because of an option) write ' unknown". (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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