LATITUDE 66 LIMITED — Capital/Financing Update 2016

May 29, 2016

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ASX ANNOUNCEMENT – 30 May 2016

Assets, Experience, Growth

EXPIRY OF UNLISTED OPTIONS & PERFORMANCE RIGHTS

Syndicated Metals Limited (ASX: SMD) advises that the following unlisted options over its fully paid ordinary shares were not exercised prior to their expiry date and have now expired:

Number	Exercise Price	ExpiryDate
2,252,250	$0.164	29 May2016
2,252,250	$0.205	29 May2016
2,252,257	$0.246	29 May2016

Further, the following performance rights did not meet the vesting conditions and have also expired:

Number	Vestingwhen the Company’s 10 dayVWAP exceeds	ExpiryDate
2,500,000	$0.30	29 May2016
4,750,000	$0.45	29 May2016
4,750,000	$0.60	29 May2016

The Company’s capital structure after expiry of the abovementioned options and performance rights is now as follows:

	Quoted Securities	Number	Number
	Fully paid ordinaryshares(SMD)	479,442,464
Unquoted Securities			Number
Performance Rights expiring 8 November 2016, which vest when the Company’s 10 day VWAP exceeds: $0.30 $0.45 $0.60			250,000 250,000 250,000
Performance Rights expiring 19 February 2017, which vest when the Company’s 10 day VWAP exceeds: $0.30 $0.45 $0.60			150,000 150,000 150,000
Performance Rights expiring 21 October 2018, which vest when the Company’s 10 day VWAP exceeds: $0.06675 $0.11125			2,452,473 3,471,231
Options expiring9 January2017 with an exerciseprice of$0.064			5,000,000
Options expiring8 February2018 with an exerciseprice of$0.012			52,599,182

ENDS