LATITUDE 66 LIMITED — Capital/Financing Update 2012

Dec 3, 2012

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4 December 2012

Issue of Syndicated Metals Limited Shares Secondary Trading Notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Act)

On 12 October 2012, Syndicated Metals Limited (Company) announced that it was undertaking a placement of up to 40,637,000 fully paid ordinary shares (Shares) at an issue price of 7 cents per Share, together with 20,318,500 Options (each exercisable at $0.20 and expiring on the date 2 years from the date they are issued) (Placement Options) on the basis of 1 Placement Option for every 2 Shares subscribed for, to raise up to $2,844,590. Shares issued under the placement will be fully paid ordinary shares ranking equally with existing shares in the Company.

The placement was conducted in two tranches as follows:

• (a) on 22 October 2012, the Company issued 13,500,000 Shares at an issue price of 7 cents per Share under the Company’s existing 15% placement capacity under Listing Rule 7.1 to raise $945,000 (Tranche 1 Shares); and

• (b) following Shareholder approval which was obtained at the Company’s 2012 annual general meeting held on 27 November 2012 (AGM), the Company issued 27,136,926 Shares at an issue price of 7 cents per Share raising $1,899,584 (Tranche 2 Shares) together with 20,318,468 free attaching Placement Options to the Tranche 1 Shares and Tranche 2 shares.

Funds raised from the placement will be used for ongoing exploration programs over the Company’s Queensland copper-gold projects, development works associated with the Barbara copper-goldcobalt project, metallurgical test work, corporate and working capital requirements and the costs of the issue. The placement was managed by Blue Ocean Equities Pty Ltd (Blue Ocean).

Secondary Trading Exemption

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the Tranche 2 Shares will fall within the exemptions in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• (a) the Company issued the Tranche 2 Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this notice the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, other than section 319 in relation to the financial year ended 30 June 2007 (as set out in relief granted to the Company by the Australian Securities and Investments Commission under paragraph 741(1) of the Act on 19 August 2008) and section 674 of the Act; and

68A Hay Street, Subiaco WA 6008 - GPO Box 2810 Perth WA 6000 T: +61 8 9380 9440 F: +61 8 9380 9449 info@syndicatedmetals.com.au ACN: 115 768 986 ASX Code: SMD

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• (c) as at the date of this notice there is no information:

  • (i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • (ii) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

    • A. the assets and liabilities, financial position and performance, profit and losses and prospects of the Company; or

    • B. the rights and liabilities attaching to the Tranche 2 Shares.

Yours faithfully,

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Paul Bridson Company Secretary