LCL RESOURCES LIMITED — Director's Dealing 2011

Dec 1, 2011

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1 December 2011

Dean Litis

Adviser ASX Compliance Pty Ltd Level 45, South Tower, Rialto 525 Collins Street Melbourne VIC 3000

Dear Dean,

Re: Appendix 3Y – Change of Director’s Interest Notice

We refer to the attached Appendix 3Y submitted by Mr Read, a director of Metminco Limited (Metminco) which discloses the purchase by Mr Read of 400,000 fully paid ordinary shares in Metminco on 28 November 2011.

During preparation of the attached Appendix 3Y it was noted that an Appendix 3Y had not separately been released with respect to options set out below and granted to Mr Read (and/or his nominees) following shareholder approval at a meeting of shareholders on 24 November 2010:

• (a) 3,000,000 options exercisable at $0.44 per Share no later than 6 December 2013 in accordance with Metminco’s Employee Option Plan

• (b) 3,000,000 options exercisable at $0.525 per Share no later than 6 December 2013 in accordance with Metminco’s Employee Option Plan

The results of the shareholder meeting on 24 November 2010 were disclosed the same day and an Appendix 3B was issued on granting of the options. Full details of these options were also disclosed in Metminco’s report to shareholders for the six month ended 31 December 2010.

We apologise for this oversight and Metminco has re-briefed Directors on their disclosure obligations and the need to ensure Metminco is able to meet its obligations in respect of ASX Listing Rule 3.19A and 3.19B.

The following processes are in place to ensure that Metminco is able to meet its disclosure obligations under Listing Rule 3.19A:

• (a) each member of the Board is informed of ASX disclosure requirements upon their appointment. The Company has entered into letters of appointment with each of its directors, which requires, among other things, that directors notify the Company of interests and any changes thereto so that ASX Appendices can be lodged. Notification of any changes in a director’s direct or indirect interest in Company securities is also required under the Company’s market disclosure policy;

• (b) as and when required, the Company Secretary will inform directors of their obligations under Listing Rule 3.19A in Board meetings or otherwise and will follow up with interested directors to ensure compliance; and

• (c) any director wishing to trade in the Company’s securities must first obtain the consent to do so from an authorised person in accordance with the Company’s security trading policy. Where approved, the director must continue to comply with any other requirements set out in that policy in connection with the deal.

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Phillip Killen Company Secretary Metminco Limited

Level 6 122 Walker St North Sydney NSW, 2060

Metminco Limited (ASX Code: MNC)

Tel No: 61 2 9460 1856 Fax No: 61 2 9460 1857

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Metminco Limited

ABN 43 119 759 349

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Timothy Read
Date of last notice	1 April 2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mr Read holds an indirect interest in shares and options through Catralex Consultancy Limited in which he holds a 100% interest.
Date of change	28 November 2011(United Kingdom time)
No. of securities held prior to change	250,000 fully paid ordinary Shares (Ordinary Shares) 3,000,000 options exercisable at $0.44 per Share no later than 6 December 2013 3,000,000 options exercisable at $0.525 per Share no later than 6 December 2013
Class	Ordinary Shares
Number acquired	400,000
Number disposed	Not applicable

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	9p per share
No. of securities held after change	650,000 Ordinary shares 3,000,000 options exercisable at $0.44 per Share no later than 6 December 2013 3,000,000 options exercisable at $0.525 per Share no later than 6 December 2013
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change
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Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3