LATITUDE 66 LIMITED — Capital/Financing Update 2012

Feb 7, 2012

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February 7 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 23 August 2010, Syndicated Metals Limited ( Company ) announced that it had reached an agreement with Altona Mining Limited ( Altona ) to acquire a 100% interest in four tenements ( Tenements ) which are considered highly prospective for copper, gold, molybdenum, rhenium, uranium, lead and zinc. The Company agreed to issue Altona 1,500,000 fully paid ordinary shares ( Consideration Shares ) as consideration for the acquisition of the Tenements. The Consideration Shares were issued on February 2[nd] 2012 and will be subject to escrow for 12 months. The issue of the Consideration Shares was approved by shareholders at the Company’s Annual General Meeting held on 30 November 2011.

Further, on 24 November 2011, the Company announced that it had received commitments to raise $902,250 through a share placement of 10,614,706 fully paid ordinary shares in the capital of the Company at 8.5 cents per share ( Placement ). 8,379,417 shares were issued under the Placement on 1 December 2011 to raise $712,250. A further 1,647,058 shares were issued on February 2[nd] 2012 at 8.5 cents per share to directors Russell Davis, Jan Hope and Bruce McCullagh following shareholder approval, which was obtained on 20 January 2012 ( Director Shares ), to raise $140,000. The balance of the subscription monies under the Placement were not received so no additional shares will be issued under the Placement.

The Consideration Shares and Director 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 Consideration Shares and Director 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 Consideration Shares and Director 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

• 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;

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

• 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 Consideration Shares and Director Shares .

Yours faithfully

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B R McCullagh Director/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