ZEOTECH LIMITED — Capital/Financing Update 2010

Mar 28, 2010

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Laconia Resources Limited ACN 137 984 297

Level 3, 46 Ord Street West Perth WA 6005

T: +61 8 9486 1599

E: info@laconia.com.au

ASX/Media Release

29 March 2010

LACONIA COMMENCES DRILLING AT MOOLETAR GOLD PROJECT, MT MAGNET

 Initial 750m, 5 hole RC drill program

Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce the commencement of its drilling campaign at the Mooletar Gold Project near Mt Magnet in the Murchison district of Western Australia.

The drill campaign will begin with a 750 metre 5-hole RC programme which is designed to follow up on previous work that identified a one metre high-grade zone at 90g/t gold (refer Laconia Resources Prospectus 2009, Investment Highlights - pg.1) as well as significant widths of sulphide and magnetite alteration of Banded Iron Formation (BIF) units and associated porphyries. The drill programme will also target as yet untested extensions of the greenstone belt.

The Mooletar Project (100% Laconia) comprises an area of 75km[2 ] covering folded Archaean greenstone belt. The project is situated over the eastern portion of the Mount Magnet greenstone belt and represents an area with little previous exploration proximal to a major gold producing area. (See project location map below).

Base Metal Exploration

Barramine Project

Recently acquired geophysical data and interpretation from the Barramine Project has indicated a number of electromagnetic (EM) anomalies. Laconia is targeting volcanic related base metal sulphide horizons within sediments.

These are being assessed and geochemical sampling programmes are planned for April, which will further test these anomalies and define drill targets to be tested later in the second quarter.

The Barramine Project (100% Laconia - excluding manganese and iron) is located in the east Pilbara and its geological position is along strike from known base metal deposits of Barramine, Camel Hump, Ragged Hills and Braeside. Previous exploration has discovered anomalous zinc, copper in highly altered pyritic acid volcanics in a prospective geological environment for base metal mineralisation.

Mooletar Gold Project Location Map

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Barramine Base Metal Project Location Map

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For further information please contact:

Ian Stuart

James Moses

Managing Director Media and Investor Relations Laconia Resources Mandate Corporate P: +61 8 9486 1599 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 on October 16 last year.

The Company 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] .

Projects Location Map

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