LCL RESOURCES LIMITED — Audit Report / Information 2007

Sep 30, 2007

2 The Nook UNDERWOOD QLD 4119

Tel: +61-7-3423 1041 Fax: +61-7-3423 1042 Mobile: 0419 665 553

26^th September 2007

The Directors Metminco Limited Level 2, 224 Queen Street MELBOURNE VIC 3000

Dear Sirs

RE: INDEPENDENT GEOLOGIST'S REPORT TO METMINCO LIMITED ON MINERAL EXPLORATION TENEMENTS IN WESTERN AUSTRALIA, NORTHERN TERRITORY AND SOUTH AUSTRALIA

The Independent Geologist's Report set out in Metminco Limited's prospectus has been prepared in accordance with the Code and Guidelines for Technical Assessment and/or Valuation of Mineral and Petroleum Assets and Mineral and Petroleum Securities for Independent Expert Reports ("Valmin Code") and the rules and guidelines relating to Independent Expert Reports set by the ASIC and ASX.

Previous estimates of the quantum of mineralisation associated with the Grants Creek tenements were generated prior to the introduction of the JORC Code guidelines for the reporting of identified mineral resources and ore reserves. Due to a lack of original digital data, Vidoro Pty Ltd is unable to determine fully the consistency of the estimates with the December 2004 JORC Code guidelines. On this basis, investors should be aware that the estimates therefore cannot be reported as "resources" or "reserves" under the JORC Code guidelines. Whilst Vidoro Pty Ltd considers that the estimates of previous mineralisation generated for the Grants Creek tenements provide a reasonable reflection of the quantum and grade of mineralisation, there is no guarantee that re-classification will occur in the short term or at all. Please refer to the Independent Geologist's Report by Vidoro Pty Ltd in Metminco Limited's prospectus for further information.

Yours sincerely

David G Jones MSc, FAusIMM, FIMMM, MAIME, MGSA, JP (Qual). Vidoro Pty Ltd