LCL RESOURCES LIMITED — Investor Presentation 2008

May 20, 2008

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Melbourne Mining Club Cutting Edge Series 20 May 2008 Keith Weston

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Corporate

• ASX Code: MNC

• Listed 2 October 2007

• Issued Capital

• 53.0 million Ordinary Fully Paid (36.3M escrowed)

• 26.2 million Dec 2012 25¢ options

• $2.6 million in cash – sufficient to undertake exploration for next two years

• Share Price

• High 52¢ Nov 07

• Low 20¢ Apr 08

• Current 35¢ 14 May 08

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Projects

• East Kimberley Region WA – Angelo JV

• – Grants Creek JV – Sophie Downs

• Stockwork Gold

• • Vein Gold

• Gold & Base Metals

• Mulgul - WA

• Ashburton JV - WA

• West Lake Eyre - SA

• King River - NT

• Base Metals

• Base Metals

• Iron Oxide Copper Gold

• Uranium

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East Kimberley Projects
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Angelo

40 km SW of Halls Creek

• Joint Venture with PRE

• Metminco earning 70%

• Gold in stockwork vein system

• 10 km from Nicolson’s find gold plant

• Orientation Drilling in the mid 1990’s – 4 metres @ 2.54 g/t Gold

• – 4 metres @ 3.41 g/t Gold

• Drilling to commence June/July 2008

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Angelo
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Grants Creek

55 km NE of Halls Creek

• Joint Venture with PRE

• Metminco earning 70%

• High grade gold in traditional quartz vein system with lead & copper sulphides

• 2 prospects drilled (non JORC resource) in late 1980’s as supplementary feed for Palm Springs Mine

• Rock chip samples 271g/t, 104g/t & 51g/t Gold

• Ground magnetics & geochemistry has defined controls on gold mineralisation

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Grants Creek

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Grants Creek

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Grants Creek

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• Sophie Downs 25kms NE of Halls Creek

• • Granted 24 April 2008 • Wide variety of mineralisation styles – Disseminated Gold – Vein Gold – Base Metals – Rare Earth Elements – Tungsten

• Native Title Site Clearances June 2008

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Sophie Downs
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• Mulgul

• • Metminco 100% • In same geological setting as Abra deposit (93 Mt @ 4.0% lead & 10 g/t silver) & Prairie Downs (4.7 Mt @ 6.3% zinc, 1.8% lead & 18g/t silver plus new copper discoveries)

• • Project straddles the Tangadee Lineament – major structural feature

• • Airborne EM recently acquired • Stream sediment sampling reveals anomalous catchment

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Mulgul
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Mulgul

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Ashburton Project JV

• JV farm-in with Peak • Mount Vernon Resources Project

• Metminco 40%

• Bangemall basin

• Base metals with strong coincident geochemical & geophysical anomalies

• – Induced Polarisation Geophysical survey commenced early May 2008

• Two sub projects – Pingandy

• – Mount Vernon

• Pingandy Project

• High Titanium geochemical results

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Ashburton – Mount Vernon

• Co incident base metal soil geochemistry, airborne EM and gravity anomalies.

• Recent discovery of malachite (copper carbonate) in quartz veins

• Rock chip sampling up to 1.3% lead, 1.9% cobalt, 46.5 g/t silver and 0.4% zinc

• IP Survey to refine drill targeting

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Ashburton – Mount Vernon
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Ashburton – Mount Vernon
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Ashburton – Pingandy
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• West Lake Eyre

• • Metminco 100%

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• Two high gravity targets

• Subdued magnetic response

• Major structural features

• Prospective for Iron Oxide Copper Gold (IOCG) style deposits

• Surficial uranium anomalies – roll front type deposits?

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West Lake Eyre
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West Lake Eyre
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West Lake Eyre
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West Lake Eyre

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West Lake Eyre

• Future Program EL3929

• Seek JV Partner or PACE funding to advance exploration

• Deep drilling on gravity targets end 2008

• Shallow drilling on surficial uranium anomalies

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King River

• Sandstone roll front or unconformity type uranium deposits

• Radioactivity detected in groundwater in mid 1970’s

• Selected following analysis of NOAA – AVHRR satellite data

• Preliminary orientation survey just completed

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King River
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Why Metminco?

• Excellent Projects – mix of gold, base metals & uranium with near term potential for resource delineation and conceptual IOCG (West Lake Eyre) & base metal (Abra style) plays

• Preliminary work completed – four projects ready to drill

• Focussed on exploration

• Strong shareholder support

• Set for Discovery

Notice & Disclaimer

• Metminco Limited has prepared this presentation based on the best available information. No representations are made as to the accuracy or completeness of such statements, estimates or projections and such statements, estimates and projections should not be relied upon as indicative of future value, or as a guarantee of value or future results. This presentation does not constitute an offer to subscribe for securities in Metminco Limited.

• The geological information contained in this presentation has been compiled by Mr Keith Weston. Mr Weston is a Member of the Australasian Institute of Mining and Metallurgy, and is a full time employee of the Company. Mr Weston has sufficient experience relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves.’ Mr Weston consents to the inclusion in the presentation of the matters based on the information and the form and context in which it appears. Mr Weston is a shareholder in the Company

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