LCL RESOURCES LIMITED — Capital/Financing Update 2007

Oct 24, 2007

METMINCO LIMITED ASX ANNOUNCEMENT - 25 OCTOBER 2007

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LOYALTY OPTION ISSUE

Metminco Limited (ASX MNC) is pleased to advise that the loyalty options outlined in the Initial Public Offering will now occur.

THE OPTIONS WILL BE ISSUED AT ONE CENT EACH, ON A 1 FOR 2 BASIS.

The exercise price of the options will be twenty-five cents, expiring on the 4[th] of December 2012. A prospectus detailing the non renounceable rights issue to shareholders of options over shares in the Company will be lodged on or about the 2[nd] of November 2007.

Shareholders acquiring shares before the “ex” date (anticipated to be the 12[th] of November 2007) and holding shares on the Record Date will be entitled to purchase options in the company on the basis of one option for every two shares held.

The anticipated dates of the offer are:-

Prospectus lodged with ASX and ASIC 2[nd] November 2007 “Ex” date 12[th] November 2007 Record date for determining entitlements 16[th] November 2007 Dispatch of Prospectus 20[th] November 2007 Closing Date 4[th] December 2007 Options quoted on deferred settlement basis 5[th] December 2007

For further information please contact Bruce Paterson, Company Secretary on (03) 9641 8939 or Keith Weston, Managing Director on 0428 312 767

METMINCO LIMITED (ASX CODE: MNC )

ACN 119 759 349

Level 2, 224 Queen Street, Melbourne, VIC, 3000 Telephone: 61 3 9670 8896 Fax: 61 3 9670 8897 Email: mail@metminco.com.au