Sydney, Jan 31, 2008 (ABN Newswire) - Cape Alumina Pty. Ltd ("Cape Alumina") - 40% owned by Metallica Minerals Limited (ASX: MLM) - is pleased to announce a key appointment for its proposed Initial Public Offering (IPO) targeted for mid 2008. Azure Capital Pty. Ltd ("Azure") has been appointed as Corporate Advisor for Cape Alumina which is developing the Weipa bauxite project in western Cape York, north Queensland.

Audio webcast Link:



Listen to the Audio stream and view the announcement for Metallica Minerals Limited (ASX: MLM) below.

http://abnnewswire.net/vlnk/ZFF57355

Azure is a leading Australian boutique investment bank ranked as a leading Perthbased Corporate Advisor by WA Business News and ranked as one of the country's leading Advisors in Merger & Acquisitions in the Materials and Mining sector. Azure is focused on natural resources and headed by Mark Barnaba, Geoff Rasmussen and John Poynton.

In the past three years, Azure has acted as advisor to many large and mid-tier mining companies including Moly Mines, Paladin Resources, Territory Resources, Grange Resources, Vulcan Resources, Nova Energy, Agincourt Resources, Monarch Resources, Conquest Mining, Coogee Resources, Western Metals, Golden West Resources and Macmahon Holdings.

Dr Paul Messenger, CEO of Cape Alumina Pty. Ltd said "Cape is pleased to have appointed Azure, leaders in their field of expertise, as advisors for Cape's proposed IPO. The participation of Azure, selected by Cape from a number of parties who submitted proposals, confirms the strong interest in Cape and its bauxite projects".