ZEOTECH LIMITED — Capital/Financing Update 2009

Oct 26, 2009

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Laconia Resources Limited ACN 137 984 297 23 Altona Street West Perth WA 6005 T: +61 8 9481 7288 F: + 61 8 9389 2199

ASX/Media Release 27 October 2009

LACONIA TO COMMENCE DRILLING AT GIMLET GOLD PROJECT

2,210m, 16 hole drill program to define high-grade intersections at project

Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce the commencement of its maiden drilling campaign at the company’s lead Gimlet Gold Project near Kalgoorlie in Western Australia’s goldfields.

The drill campaign will comprise a two-phase program of RC and Air Core drilling totaling 6,620 metres across 59 holes. The Phase 1 program will drill 16 holes aggregating 2,210 metres and assay results are expected to be available by mid-December 2009.

The drilling campaign at Gimlet is designed to test gold anomalism and further define highgrade intersections which were discovered in previous exploration work at the project.

The Phase 2 program is planned to commence in mid-January 2010 and will be a 43-hole program aggregating 4,410 metres.

The Gimlet Gold Project is located 15km northwest of Kalgoorlie in close proximity to a number of gold deposits. Approximately $2.5 million was previously spent on exploration at the project.

The Company also has a portfolio of other highly prospective gold and base metals projects in the Murchison and Pilbara regions in WA, and, in total, has interests in 32 granted tenements across an area of 855km[2] . See attached Projects’ Location Map.

Laconia managing director Ian Stuart said: “We are delighted to be in a position to commence our exploration programs so soon after the Company’s ASX listing earlier this month and we look forward to delivering the results from our initial drill programs at the Gimlet Gold Project in the near future.”

Laconia listed on the ASX on October 16 this year after a highly successful IPO which raised $6m via the issue of 30 million shares at 20c each.

ENDS

For further information please contact;

Ian Stuart James Moses Managing Director Media and Investor Relations Laconia Resources Mandate Corporate P: +61 8 9 389 2126 M: 0420 991 574 M: +61 419 394 919 E: james@manadatecorporate.com.au E: istuart@laconia.com.au www.laconia.com.au

About Laconia Resources

Laconia Resources is a Perth-based gold and base metals exploration company which listed on the ASX earlier this month, on October 16.

The Company’s has a portfolio of advanced gold and base metals projects near Kalgoorlie and in the Murchison and Pilbara regions in Western Australia, across 32 granted tenements covering 855km[2] .

Laconia’s lead project is the Gimlet Gold Project near Kalgoorlie which will be the subject of the Company’s initial exploration programs.

Projects Location Map

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