LCL RESOURCES LIMITED — Capital/Financing Update 2011

Nov 24, 2011

==> picture [220 x 37] intentionally omitted <==

Level 6, 122 Walker St North Sydney, NSW 2060 Australia T +61 (0)2 9460 1856 F +61 (0)2 9460 1857

25 November 2011

ASX ANNOUNCEMENT

Attached is an AIM release in relation to the proposed placing.

On behalf of the Board,

==> picture [109 x 53] intentionally omitted <==

Philip W Killen Company Secretary

24 November 2011

Metminco Limited

(“Metminco” or the “Company”)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, SOUTH AFRICA, OR JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

Placing

Further to the announcement of 8.15 a.m. this morning (the “Announcement”), Metminco is pleased to announce that the UK books in relation to the Institutional Placing have now closed.

Allocations will be notified tomorrow morning (London) following the close of the Australian portion of the book.

Defined terms in this announcement shall have the same meaning as in the Announcement.

About Metminco:

Metminco is a dual ASX and AIM listed company with a portfolio of copper and gold projects in Peru and Chile. The Los Calatos project, located in southern Peru, has a JORC compliant resource of 926 million tonnes, comprising Indicated Resources of 111 million tonnes at 0.39% Cu and 380ppm Mo, and an Inferred Resource of 815 million tonnes at 0.37% Cu and 260ppm Mo (at a 0.2% copper cut-off grade).

The Chilean assets include the Mollacas copper leach project with a JORC compliant resource of 17 million tonnes consisting of Indicated Resources of 7.2 million tonnes at 0.56% copper and Inferred Resources of 9.8 million tonnes @ 0.52% copper (at a 0.2% copper cut-off grade); and the Vallecillo gold zinc project with a JORC compliant resource of 10.1 million tonnes consisting of Indicated Resources of 7.9 million tonnes @ 1.14g/t Au; 11.4g/t Ag; 1.32% Zn; 0.29% Pb and an Inferred Resource of 2.2 million tonnes @ 0.78g/t Au; 8.2g/t Ag; 0.58% Zn; 0.26% Pb (at a cut-off grade of 0.3g/t Au).

Competent Persons Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Colin Sinclair, BSc, MSc, who is a Member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the Company as General Manager Exploration.

Colin Sinclair has sufficient experience (over 30 years) which is relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the „Australasian Code for Reporting of Exploration Results‟. Mr Sinclair, as Competent Person for this announcement, has consented to the inclusion of this information in the form and context in which it appears herein.

For further information please contact:

South America :

William Howe - Managing Director

Ph: +56 (2) 411 2600

Australia:

Stephen Tainton - Investor Relations Philip Killen - Company Secretary & CFO

Broker – BGF Equities Warwick Grigor / Marcus Freeman

Financial Public Relations Consultant – Collins St Media Ian Howarth

Ph: +61 (0) 9460 1856 Ph: +61 (0) 408 609 916 Ph: + +61 3 8688 9100 Ph: +61 (0) 407 822 319

United Kingdom:

Tim Read – Non-Executive Director

Nomad and Joint Broker – Canaccord Genuity Limited Robert Finlay/ Andrew Chubb Joint Broker – Liberum Capital Limited Michael Rawlinson / Clayton Bush

Financial Public Relations Consultant - Buchanan Tim Thompson / James Strong

Ph: +44 (0) 777 072 1809 Ph: +44 (0) 207 050 6500 Ph: +44 (0) 20 3100 2227 Ph: +44 (0) 20 7466 5000