Further to the recent announcement dated June 03, 2013 regarding the MOU with Exco Resources for the company's Barbara Copper-Gold Project, Syndicated Metals Limited provided the following corporate update. Mr. David Morgan has agreed to step down as an Executive Director effective August 31, 2013 but will continue to serve the company as a non-executive Director, providing his invaluable technical and operational expertise as Syndicated makes the transition to copper producer. Syndicated has accepted Jan Hope's resignation as a non-executive Director effective June 30, 2013.

Jan was a founding director of Syndicated and has made an enormous contribution to the company's evolution and development since it listed on the ASX in December 2007.