LATITUDE 66 LIMITED — Capital/Financing Update 2012

May 31, 2012

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1st June 2012

Manager Announcements Companies Announcements Office Australian Securities Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000

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

On March 20[th] 2012, Syndicated Metals Limited (“ Company ”) announced it would undertake a share placement (“ Placement ”) of 13,485,881 fully paid shares in the capital of the Company (“ Shares ”) at 7.4 cents per Share, with every 2 Shares subscribed for having 1 free attaching option (equally apportioned from each of the series below) to subscribe for a share in the capital of the Company as follows:

Series	Exercise Price	Vesting Date	Expiry Date
A	$0.164	12 months from the date of issue	4 years from the date of issue
B	$0.205	18 months from the date of issue	4 years from the date of issue
C	$0.246	24 months from the date of issue	4 years from the date of issue

On 29 May 2012, a total of 13,513,514 Shares were issued (including an additional 27,633 Shares issued under the Company’s existing 15% placement capacity under ASX Listing Rule 7.1) (“ Placement Shares ”) to various sophisticated and professional investors as well as to Mr Langworthy, Mr Munckton and Mr Morgan, in accordance with shareholder approval obtained on 24 May 2012, to raise a total of $1 million (before costs).

The funds raised from the issue of the Placement Shares will be applied to continue the Company’s successful exploration programs in the Mount Isa region of North West Queensland as well as for general working capital. The Placement Shares rank equally with all existing ordinary shares.

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 Placement 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 Placement Shares without disclosure to investors under Part 6D.2 of the Act;

Syndicated Metals Limited GPO Box 2810 Perth WA 6000 ABN 61 115 768 986 T: +61 8 9380 9440 F: +61 8 9380 9449 E: info@syndicatedmetals.com.au W: www.syndicatedmetals.com.au

• 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

• 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 Placement Shares.

Yours faithfully

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B R McCullagh Company Secretary

Syndicated Metals Limited GPO Box 2810 Perth WA 6000 ABN 61 115 768 986 T: +61 8 9380 9440 F: +61 8 9380 9449 E: info@syndicatedmetals.com.au W: www.syndicatedmetals.com.au