LCL RESOURCES LIMITED — Capital/Financing Update 2019

Oct 1, 2019

ASX Announcement

2[nd] October 2019

Diamond Drilling Program Commenced at Chuscal Gold Target

==> picture [11 x 11] intentionally omitted <==

Drilling into Chuscal gold target commenced Monday night (Australia Time) on schedule

==> picture [11 x 11] intentionally omitted <==

Maiden diamond drilling program ~2,400m will test several mineralised structures within the Chuscal Gold Target

Metminco Limited (ASX: MNC) (“ Metminco ” or “ the Company ” ) advises that drilling at the Company’s highly anticipated Chuscal gold target has commenced on schedule.

Drilling is planned to be a two-phase operation, with three holes planned initially, and then up to a further four holes to be drilled with the benefit of knowledge gained through analysis of the results from the first phase of drilling. Drilling is indicatively planned to target an average depth of 300-400 meters in each drill hole. The first hole is investigating the Guayacanes diorite which consists of gold bearing veins within a mineralised diorite porphyry (refer ASX announcement 18[th] September 2019 for further details)[1] .

Further information will be provided as the drilling continues.

[1 ] The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX market announcement.

For further enquiries contact:

Jason Stirbinskis

Managing Director Metminco Limited jstirbinskis@metminco.com.au

==> picture [213 x 371] intentionally omitted <==

Drill Platform and rig at Chuscal 30/09/2019

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. 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.

1