LCL RESOURCES LIMITED — AGM Information 2018

May 27, 2018

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Exploring & Developing Colombia’s Cauca Belt

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Photo credit: Mike Doyle

AGM

28 May 2018

ASX Code: MNC.AX; AIM Code: MNC.L

Disclaimer & Important Information

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NATURE OF THIS DOCUMENT

This presentation has been prepared by Metminco Limited (ACN 119 759 349) (Metminco or the Company). The information is based on publicly available information, internally developed data and other sources and is current as at 17 May 2018. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained.

This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company which a shareholder or potential investor may require in order to determine whether to deal in shares. This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities.

NOT INVESTMENT ADVICE

This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each investor or shareholder. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither Metminco nor any of its related bodies corporate is licensed to provide financial product advice in respect of Metminco’s securities or any other financial products.

This presentation should not be relied upon as the sole representation of any matter that a potential investor should consider in evaluating Metminco. Its affiliates or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability for any statement made in, or omitted from, this presentation. Prospective investors should make their own independent evaluation of an investment in the Company.

FORWARD LOOKING STATEMENTS

This document contains forward looking statements concerning Metminco. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Metminco’s beliefs, opinions and estimates of Metminco as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

2

ASX Code: MNC.AX; AIM Code: MNC.L

Disclaimer & Important Information

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Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.

DISCLAIMER

To the maximum extent permitted by law, the Company does not make any representation or give any warranty or undertaking, express or implied, as to the accuracy, fairness, sufficiency, reliability, adequacy or completeness of the material contained in this presentation, including any forward-looking statement. No representation, warranty or undertaking, express or implied, is made or given by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency, reliability, adequacy or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

COMPETENT PERSONS STATEMENTS – MIRAFLORES GOLD PROJECT

The technical information contained in this presentation in relation to the JORC Code (2012) compliant Ore Reserves and JORC compliant Mineral Resources for the Miraflores Gold Project is reported in the Announcement Reserves Release Update dated 27 November 2017.

The technical information contained in this presentation that relates to exploration results (excluding those pertaining to Mineral Resources and Reserves) is based on information compiled by Mr Gavin Daneel, who is a Member of the Australasian Institute of Mining and Metallurgy and who is an independent Consulting Geologist. Mr Daneel has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and to qualify as a Competent Person for the purposes of the AIM Rules for Companies. Mr Daneel consents to the inclusion in the release of the matters based on the information compiled by him in the form and context in which it appears.

The Company is not aware of any new information or data that materially affects the information included in this presentation. All material assumptions and technical parameters underpinning the estimates in the Announcement continue to apply and have not materially changed.

FRONTISPIECE

Photograph of filament gold in void in Miraflores breccia, photo credit Mike Doyle mikedoyle525@hotmail.com.

3

Recent History- Near Term Objectives

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ASX Code: MNC.AX; AIM Code: MNC.L
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2016 2017 2018
Purchase of Colombia Miraflores DFS & Refinanced &
Gold Portfolio commenced Relaunched
Permitting
Miraflores PFS Focus on Exploration
Sale of Los Calatos
Los Calatos JV Copper Project Divest non-core assets
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2018 Milestones

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Refinanced
Drill confirmatory
holes at Tesorito
Conclude agreement
with gold major at
Chuscal
Progress Miraflores
permitting
Divest Chilean assets
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4

ASX Code: MNC.AX; AIM Code: MNC.L

Company Snapshot: Current

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Capital Structure (as at 25 May 2018)

Ordinary Shares(1) 912.6m	Ordinary Shares(1) 912.6m
Ticker: ASX & AIM listed	MNC/MNCOA
Share Price (A$)	1.1¢
Market Cap (undiluted)	A$10.0m
Options(2)	289.1m
Convertible Debt (repaid)	nil
Cash(16 May 2018)(3)	A$3.1m
1 Month Liquidity	$1,223k
12 Month Liquidity	$3.1m

Shareholder Ownership Structure[(3) (4)]

BNP PARIBAS NOMINEES	BNP PARIBAS NOMINEES	8%
MR NEVRES CRLJENKOVIC		5%
COMPUTERSHARE CLEARING OSIRIS CAPITAL INVESTMENTS		5% 3%
OCEAN VIEW WA		3%
TOP 20		52%

Current Board & Management[(5)]

Current Board & Management(5)	Current Board & Management(5)
Kevin Wilson Executive Chairman
Roger Higgins	Non-Executive Director
Francisco Vergara	Non-Executive Director
William Howe	COO
Graeme Hogan/ Geoff Widmer	Company Secretary

12 Month Share Price Performance & Volume[(4)]

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1. A further 2,702,152 shares have been issued subject to shareholder approval sought at AGM of 28 May 2018.

2. Options comprise: 12.4m exercisable at 8.0¢ expiry 17 May 2019; 12.4m exercisable at 8.0¢ expiry 25 May 2019; and 231.6m options exercisable at 1.1¢, expiry 1 June 2020. A further 247.8m options exercisable at 1.1c expiry 1 June 2020 have been issued subject to shareholder approval sought at AGM of 28 May 2018.

3. As at 16 May 2018. Does not include proceeds of $549,877 before costs from share placement announced 22 May 2018.

5

ASX Code: MNC.AX; AIM Code: MNC.L

Equity Raising: Refinanced, Restructured, Relaunched

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• ➢ Provides cash for high impact exploration in 2018

1. Refinanced

• ➢ Paid out convertible note

• ➢ Other creditors being paid when due

• ➢ Recapitalised balance sheet

• ➢ Reduce overhead

2. Restructure

• ➢ Re-direct activities to exploration

• ➢ Mine-development decision once EIA and PTO approved

• ➢ Restructure team

• ➢ Kevin Wilson appointed Executive Chairman

3. Relaunch

• ➢ Board & executive team changes

• ➢ Accelerate exploration on world class properties

• ➢ Cash backed

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6

ASX Code: MNC.AX; AIM Code: MNC.L

Colombia- underexplored, developing nation

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• ➢ Underexplored compared to other countries’ gold endowment

Potential

• ➢ November 2016 peace agreement between Govt. and FARC reduced security risk

• ➢ Despite limited access, many multimillion ounce deposits found in last decade

• ➢ 4.7%pa GDP growth in decade to 2017, slowed to 1.8% in 2017 (oil price)

Growth[(1)]

• ➢ 2.3%pa GDP growth forecast to 2020

• ➢ $10Bn foreign direct investment in 2017

• ➢ 47 projects 8,000km roads, 3,500km 4-lane highways; plus

Infrastructure[(1)]

• expansion of ports and railways by 2020

• ➢ $70Bn program to 2035

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1. Source: CIA; Colombia Reports.

7

.

ASX Code: MNC.AX; AIM Code: MNC.L

Colombia - Cauca Belt: Address for Giant Gold

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8

ASX Code: MNC.AX; AIM Code: MNC.L

“Core” Asset Overview & Locations

Location: Quinchia Gold Portfolio (Colombia)

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Dosquebradas
Miraflores
Tesorito
Chuscal Metminco Property
Metminco Pending Claim
Batero Gold Property
Potential Targets
Road
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Summary: Quinchia Gold Portfolio (Colombia)

Current Concession 6,043 Ha Pending Applications 3,792 Ha 100% (deferred milestone payments owed to Ownership RMB – See Appendix) Drilling to Date > 40,000 m

Gold-copper porphyry-style mineralisation TS-DH-02: 384m @ 1.01g/t Au

Tesorito

Significant gold in soil geochemical anomaly over artisanal underground workings. Option agreement exercised with AngloGold Ashanti; formalised agreement / JV discussions underway

Chuscal

Feasibility Study completed in Oct 2017 Reserve Estimate: 4.32Mt P & P Reserve @ 3.3g/t Au (457koz Au)[(1)] Resource Estimate: 9.27Mt M & I @ 2.82g/t Au and 2.77g/t Ag (840koz Au)[(1)]

Miraflores

Dosquebradas 920koz Au @ 0.5g/t Au Inferred Resource[(2)]

Santa Sofia, La Loma, Naranjal, Miracielo and Sausagua

Additional Targets

1. ASX and AIM Announcement Reserves Release Update dated 27 November 2017, page 1. 2. ASX and AIM Announcement dated 7 March 2016, page 1 & 2.

9

ASX Code: MNC.AX; AIM Code: MNC.L

The Value Story: Low Hanging Fruit on Giant Tree

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• Quinchia Gold Portfolio located in Colombia on Andean Cauca trend, host to worldclass gold porphyry deposits: La Colosa (28Moz)[(1)] & Marmato (8.6Moz)[(2)]

• ➢ Tesorito prospect: Initial drilling returned 384m @ 1.01g/t Au, 0.90g/t Ag and 0.080% Cu beneath a significant multi-element soil to a

• geochemical anomaly adjacent high chargeability anomaly

• ➢ Chuscal target: Significant gold geochemical anomaly (under negotiation)

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Gold bearing fractures in Breccia
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1. AngloGold Ashanti’s La Colosa Mineral Resource & Ore Reserve Statement for the Year Ended December 31, 2013.

1. Gran Colombia’s Marmato NI 43-101 Updated Mineral Resource Estimate dated November 20, 2017 and effective June 16, 2017. Previous Mineral Resource Estimate of 14.4Moz effective June 21, 2012; change driven by shift in mining style from Open Pit to Underground Mining and increase in cut-off grades utilised.

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ASX Code: MNC.AX; AIM Code: MNC.L

Tesorito: Low Hanging Fruit 1.0

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• Initial drilling (3 holes) all intersected >250m of anomalous gold mineralisation.

• TS-DH-02 returned >1g/t Au over 384m from surface.

• Significant surface multielement geochemical anomaly, and adjacent to high chargeability anomaly extending over 500m x 700m.

• Adjacent high chargeability IP anomaly untested.

• Well mineralised veining system indicated by previous drilling.

• Drilling programme to commence May 2018.

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Drill Hole	Results
TS-DH-01	340m @ 0.40g/t Au, 0.58g/t Ag and 0.032% Cu
TS-DH-02	384m @ 1.01g/t Au, 0.90g/t Ag and 0.080% Cu
TS-DH-03	255m @ 0.51g/t Au, 0.67g/t Ag and 0.052% Cu

11

ASX Code: MNC.AX; AIM Code: MNC.L

Tesorito: Low Hanging Fruit 1.0

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AG AU

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5.00
4.00
3.00
2.00
1.00 1.01g/t Au
0.00
Drill Depth (m)
CU Mo
1.00 1,400
1,200
0.80
Hole TS-DH-02 encountered
1,000
0.60 high grade mineralization 800
(1.01g/t Au, 0.90g/t Ag and
0.40 0.08%Cu) at depth Increasing Cu 600
grades 400
0.20
200
0.00 0
g/t
16 26 33 40 49 56 65 75 85 93 101 110 116 122 131 137 145 154 163 170 178 187 195 205 213 223 233 243 253 261 269 279 288 298 306 314 323 333 342 351 363 373 383 391 398
Cu (%)
Mo (ppm)
16 26 33 40 49 56 65 75 85 93 101 110 116 122 131 137 145 154 163 170 178 187 195 205 213 223 233 243 253 261 269 279 288 298 306 314 323 333 342 351 363 373 383 391 398
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Drill Depth (m)

Au values throughout drill hole TS-DH-02, increasing Cu/Mo at depth: 0.22% Cu and 86 ppm Mo over 35 metres at end-of-hole.

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ASX Code: MNC.AX; AIM Code: MNC.L

Tesorito: Low Hanging Fruit 1.0

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• Porphyry system, mineralised throughout drill holes

• 1,500m drilling program commences May 2018 to target both increasing copper at depth and chargeability anomaly

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13

ASX Code: MNC.AX; AIM Code: MNC.L

Chuscal: Low Hanging Fruit 2.0

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• Significant porphyry gold target.

• Gold geochemical anomalies

• 100ppb over majority of the 176Ha sampled, includes 500m x 250m zone > 0.5g/t Au.

• No geophysics or drilling.

• Title: applications; formalised

• agreement / JV discussions underway.

• 2H 2018 geophysics and drilling on grant of application.

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176Ha
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14

ASX Code: MNC.AX; AIM Code: MNC.L

Chuscal: Low Hanging Fruit 2.0

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• Artisanal underground working with small milling and gravity circuit.

• Mineralisation is in both high-grade and lower-grade stockwork veining.

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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores

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• 800m from Tesorito Prospect; 2km from Chuscal Target (under negotiation)

• 840koz (M+I) gold Resource @ 2.8g/t Au

• 457koz (P+P) gold Reserve @ 3.3g/t Au

• DFS completed late 2017, 45koz p.a. for 9.5 years

• Capex US$72M, NPV after-tax = US$72M (8%)

• AISC US$643/oz

• 2018 plan: EIA and permitting process to continue through 2018 & consider higher grade opportunities to enhance NPV

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Photo credit: Mike Doyle
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ASX Code: MNC.AX; AIM Code: MNC.L

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• High impact drilling program commencing May 2018

• Large gold prospect at Tesorito

• Existing Resources and Reserves at Miraflores

• Negotiating on Chuscal, large gold prospect

• Low capitalisation of A$10m

• Cash for current programs

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APPENDICES

ASX Code: MNC.AX; AIM Code: MNC.L

Tesorito: Low Hanging Fruit 1.0

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19

ASX Code: MNC.AX; AIM Code: MNC.L

Tesorito: mobilisation May 2018

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20

ASX Code: MNC.AX; AIM Code: MNC.L

Deferred Acquisition & Contingency Payments

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RMB Payments

• In May 2016, Quinchia Gold Portfolio purchased from RMB Australia Holding Limited (RMB);

• Remaining milestone cash payments to RMB to occur up until 2020:

• ➢ Second payment of A$1 million on 20 June 2018;

• ➢ Third payment of A$3 million on the earlier of a) decision to mine; b) 20 June 2019; and

• ➢ Fourth payment of A$2 million on the earlier of a) decision to mine; b) 20 June 2020.

• Metminco must also pay a maximum of A$7.0 million in royalty payments to RMB from operating cash flows.

Ausenco MOU

• Ausenco and Metminco have agreed to

• defer costs accrued to December 2017 by Metminco for engineering services in connection with the Miraflores Project (amounting to $559,000) into the construction costs of the Project.

• • Ausenco will provide a Guaranteed Maximum Price and a Lump Sum Turnkey price, and will enter into an EPC, for the development of Miraflores.

• If Metminco withdraws from the MOU, Metminco has agreed to pay Ausenco $838,500.

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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores: Feasibility Study Outcomes

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CAPEX of 9.5 year mine life Gold recovery rate 4.33Mt @ 3.3g/t for
US$71.8 million producing of 92% over life of 457,000oz Au P&P
before optimisation ~45,000oz gold p/a mine Gold Reserve
Asset 100% owned Payback Period After Tax NPV After Tax IRR
by Metminco 3.6 years (US$1,300/oz) 25% @
US$72.3m (8%) US$1,300/oz
US$96.1m (5%)
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• A variance of +15 -10% could be applied to all costs.

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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores: Mineral Resource and Reserve

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	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)	JORC Mineral Resource (1.2g/t Au cut-off) (March 2017)(1)
	Resource Classification	Mt	Au (g/t)	Ag (g/t)	Au (koz)	Ag (koz)
	Measured	2.96	2.98	2.50	283	237
	Indicated	6.31	2.74	2.90	557	588
	Total (M&I)	9.27	2.82	2.77	840	825
	Inferred	0.49	2.36	3.64	37	57
	JORC Ore Reserve (1.53g/t Au cut-off) (Nov 2017) (2)
	Reserve Classification	Mt	Au (g/t)	Ag (g/t)	Au (koz)	Ag (koz)
	Proved	1.70	2.75	2.20	150	120
	Probable	2.62	3.64	3.13	307	264
	Total (P & P)	4.32	3.29	2.77	457	384

1. Announcement Resources Release Update dated 14 March 2017, page 3.

2. Announcement Reserves Release Update dated 27 November 2017, page 1. Note: Rounding-off of numbers may result in minor computational errors, which are not deemed to be significant.

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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores Positioned Favourably on the Global Gold Cost Curve

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1800
1600
1400
1200
1000
800
600
Metminco
400 Total
AISC
US$643/oz
200
0
0 20 40 60 80 100
Cumulative Gold Production (%)
US$/oz
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Source: Barrick February 2016 Investor Day Presentation

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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores: First Cost Quartile Gold Operation

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Low Capital and Operating Costs*; Attractive IRR

Item	Units	Oct 2017
Mineral Material Processed	Kt	4,326
LoM	Years	9.33
Gold Recovered	Koz	421
Silver Recovered	Koz	210
Gold Price	US$/oz	1,300
Silver Price	US$/oz	18
Operating Costs	US$000’s	231,282
Indirect Costs	US$000’s	1,885
Royalties	US$000’s	21,892
Operating Margin (EBITDA)	US$000’s	294,100
Capital (LoM)	US$000’s	90,308
Income Tax	US$m	54.8
After Tax Free Cash Flow	US$000’s	150,000
After Tax NPV @ 8%	US$000’s	72,300
After Tax NPV @ 5%	US$000’s	96,100
After Tax IRR	%	25

All-in Sustaining Costs* US$643.00 per payable Au-oz

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1300
1200
1100
1000 Margin,
$655.80
900
800
700
Offsite Costs,
$4.50 Sustaining Capital , $44.10
600
Government Royalties, $52.20
Tailings, $6.40
G&A, $44.90
500
400 Processing,
$213.00
300
200
Underground
Mining, $288.10
100
Silver Credit,
$(9.00)
0
US$ per payable Au-oz
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All in cash cost $643.00/payable Au-oz

• A variance of +15 -10% can be applied i.e. within the contingency. Contingency of 7.67%.

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Miraflores: Underground Mine Development

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ASX Code: MNC.AX; AIM Code: MNC.L
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Underground Development Design

• ➢ Underground mining operation with low impact on surrounds.

• ➢ Ore processing via gravity and float concentration followed by cyanide leaching.

• ➢ 62% of gold is recovered from gravity separation.

• ➢ Nine month pre-production development period (Year 1) generates 126kt stockpile.

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South Portal
Slopes
North Portal
Drift
Cross Cut
Injection
Shaft
Main Portal
Extraction
Shaft
Decline
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ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores - CAPEX Breakdown and Optimisation

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Pre-production Capital Expenditure	Pre-production Capital Expenditure	Pre-production Capital Expenditure
Item	US$m Oct 2017*	Optimisation by Metminco
Underground Mining	14.0	Significant reduction in underground development due to increase in distance between levels and reduction in main ramp access meters. Lease mining fleet (rather than purchase fleet).
Processing & Infrastructure	46.3	Capital estimate based on 1,750tpd throughput which has now been reduced by 26% to 1,300tpd, Process plant capex adjusted for size.
Tailings	2.3	Small dry stacked tailings facility (rather than a larger wet tailings facility).
Owners Costs	8.4	Includes purchase of surface titles (i.e. land).
Power Line	0.8
Total Pre-Production Capital	71.8

• A variance of +15 to -10% could be applied i.e. within the contingency.

• Contingency of 7.67%.

• Use of local building contractors for administration offices.

• No permanent camp facilities allowed for due to local labour preference.

• Amounts may not add due to rounding.

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Miraflores: Sensitivity to Gold Price - Feasibility Study (Oct 2017)

ASX Code: MNC.AX; AIM Code: MNC.L

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Sensitivity to Gold Price	Sensitivity to Gold Price	Sensitivity to Gold Price
Key Financial Indicators*	Unit	US$1,200 Au/oz		US$1,300 Au/oz	US$1,400 Au/oz
C1 Cash Cost**	US$ per Au/oz	595		599	603
AISC-cost	US$ per Au/oz	639		643	647
EBITDA (LoM average)	US$m/annum	27.3		29.4	35.8
NPV @ 5%	US$m	75		96.1	117
NPV @ 8%	US$m	55		72.3	89.8
IRR	$%	21		25	28
Payback	Years	4.1		3.6	3.3

• Excellent leverage to gold price; every $100 increase adds ~US$20 million to NPV.

• A variance of +15 to -10% can be applied i.e. within the contingency. Contingency of 7.67%. ** C1 Cash Costs includes Government Royalty.

28

ASX Code: MNC.AX; AIM Code: MNC.L

Miraflores: Formalisation Process

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• Two characterisations of the informal miners present in Miraflores (2013 and 2016/2017).

• Nearly 200 informal miners identified.

• Formalisation plan:

• ⁃ Priority in the recruiting of the workforce;

• ⁃ Productive plan;

• ⁃ Training, formal education and development of capabilities;

• ⁃ Voluntary economic contribution:

  • 18 to 25 years: $1.000.000 COP[(1)]

  • 26 to 40 years: $1.500.000 COP

  • 41 years and over: $1.800.000 COP

• ⁃ Pension alternative.

• Colombian Pesos.

29

ASX Code: MNC.AX; AIM Code: MNC.L

Social Projects

RELATIONSHIP WITH INDIGENOUS COMMUNITIES

INFRASTRUCTURE

Aid on the construction and adaptation of the Miraflores rural aquaduct

Consultation process with the indigenous communities present in the project influence area

Aid on the strengthening of the Botanical Garden "Albeiro Manco Manso" of Quinchía

Embera Chamí

Agreements reached with the community Technical support on the elaboration of their life plan.

Support on the signage of the elaboration of their life plan. roads of Quinchia Embera Karambá Process closed without Support on the arrangement of agreement the route Aguas Claras – Miraflores Validation of the impacts and their management measures by a third party

EDUCATIONAL

450 education kits donated to the community of Miraflores.

1 food handler donated to an educational institution in the influence area of the Project

30 people trained in systems in an agreement with SENA (Colombian Public Educational Institution)

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CULTURAL

Donation of uniforms for the Youth Symphonic Band of Quinchía

Support to the local festivities.

ECONOMIC Hiring of local labor, products and services.

30

ASX Code: MNC.AX; AIM Code: MNC.L

Key “Non-Core” Asset Overview & Locations

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Mollacas Project (Chile)

Vallecillo Project (Chile)

• Copper leach project discovery;

• Located in Region IV, Chile, approx. 65km east of Ovalle near the small settlements of Valdivia and Las Mollacas, and 160km by road from the port of La Serena;

• Mineral Resource and Contained Metal Content: 15.5Mt M&I @ 0.51% CuT and 0.40% CuSol; 79.1kt CuT and 61.6kt CuSol[(1)] ;

• Metminco holds title to 21 Exploitation Licenses covering 179 hectares of surface rights and water rights to approximately 175 litres/sec from two canals;

• Land owned offered for sale.

• Gold-zinc project discovery - porphyry related base and precious metal mineralisation containing gold, silver, zinc, lead and copper;

• Covers an area of 179km[2] , and is located approximately 50km northeast of Ovalle;

• 9,155m diamond drilling and 3,768m reverse circulation drilling program completed in 2012;

• JORC 2004 Mineral Resource and Contained Metal Content: 8.1Mt M,I & I Resource @ 0.82g/t Au, 10.06g/t Ag, 1.06% Zn, 0.06% Cu and 0.33% Pb[(2)] .

Mineral & Surface Rights Held by Metminco

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Polymetallic Belt Defined by Soil Geochemical Sampling

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1. SRK Consulting (Chile) S.A. mineral resource July 6, 2012. CuT = total copper; CuSol = soluble copper.

2. No further work has been undertaken on these mineral resources since these reporting dates.

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1. SRK Consulting (Chile) S.A. mineral resource July 2009.

Sydney Office

Suite 401 6 Help Street Chatswood NSW 2067 PH: +61 (0) 2 9460 1856 info@metminco.com.au www.metminco.com.au

Medellin Office

Miraflores Compania Minera S.A.S Carrera 36 No 2 Sur 60 Int 1301 Poblado Alejandria Medellin Colombia PH: +57 4 3121196 or +57 4 3121325