LCL RESOURCES LIMITED — Capital/Financing Update 2007

Sep 30, 2007

26 September 2007

Darren Collins Senior Adviser, Issuers (Melbourne) ASX Limited Level 45 South Tower Stock Exchange Centre 525 Collins Street MELBOURNE VIC 3000

Dear Darren

Metminco Limited ("Company")

We refer to your letter dated 24 September 2007 ("Letter") and advise as follows:

• $\mathbf{1}$ . We confirm that an exploration licence has been granted to Bluekebble Pty Ltd in the Cooinchina Creek area for a period of one (1) year and with a commencement date of 21 September 2007. The licence is numbered EL 3929.
• $2.$ We advise that further to the grant of EL 3929 and pursuant to the terms of the Declaration of Trust and Agreement to Assign between Bluekebble Pty Ltd and the company dated 15 July 2007 ("Bluekebble Agreement"), the Company expects to issue 250,000 ordinary shares to Bluekebble Pty Ltd within 14 days of admission to the Official List of ASX Limited.

The terms of the Bluekebble Agreement provide for the issue of a further 750,000 ordinary shares in the Company in the event that EL 3929 is successfully transferred to the Company and Northern Territory Exploration Licence Application 26112 is granted and transferred to the Company. A total of AUD\$50,000 is also payable to Bluekebble Pty Ltd in accordance with the terms of the Bluekebble Agreement.

Yours faithfullv

Bruce Paterson Director

METMINCO LIMITED ACN 119 759 349

c/o Herbert Geer & Rundle Level 21, 385 Bourke Street, Melbourne, Victoria 3000 Telephone: 9641 8939 Fax: 9670 5670 Attention: Bruce Paterson

Email: bruce.paterson@metminco.com.au

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