ZEOTECH LIMITED — Capital/Financing Update 2011

May 30, 2011

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Laconia Resources Limited ACN 137 984 297

Level 1, 41-43 Ord Street West Perth WA 6005

T: +61 8 9486 1599

E: info@laconia.com.au

ASX/Media Release

31 May 2011

Drilling at Kookynie Project Intersects Gold Mineralisation

Key points

• 12 hole, 1,200m RC drilling program completed at the Kookynie Gold Project

• Drilling targeted down plunge extensions of historical high grade workings at the Lily Prospect

• Drilling intersected gold mineralisation with a best result of; o 2m @ 3.9g/t Au (including 1m @ 6.5g/t Au)

• Conjugate reef systems defined

• Laconia has also acquired a large exploration lease immediately southwest of the Lily Prospect

• The Kookynie project is located near Kalgoorlie in an historical high-grade mining centre and includes P40/1255 and P40/1256

Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce the results of its recently completed 12 hole, 1,200 metre reverse circulation drilling program at its 100% owned Kookynie Gold Project, near Kalgoorlie.

The drill program commenced in March and was designed to test down dip and plunge extensions of previous intersections at the Lily Prospect within the Kookynie project area (below a line of old workings at the Lily Prospect) on P40/1255.

The Company advises that four angled holes from the drill program intersected gold mineralisation in the footwall vein, and produced a best result of 2 metres @ 3.9g/t Au (including 1 metre @ 6.5g/t Au from 38 metres down hole), at hole KRC004. Significant intersections are presented below.

Significant Intersections

Hole_ID	East	North	Azimuth	Dip	From (m)	To (m)	Interval	Au
							(m)	(ppm)
KRC001	348231	6750284	300	‐60	64	65	1	0.27
KRC002	348204	6750302	300	‐60	42	43	1	0.74
KRC004	348180	6750255	300	‐60	38	39	1	1.3
KRC004	348180	6750255	300	‐60	39	40	1	6.5
KRC007	348102	6750142	300	‐60	30	31	1	0.87

Note 1: Sampling was conducted on 4 composite metre intervals with some selected samples sampled on a 1 metre basis. Samples being assayed for Au using aqua regia digest with AAS finish. Projected Coordinate System ‐ GDA94, MGA Zone 51.

The host rock at the Kookynie project is a magnetic dolerite/gabbro unit. The Lily Prospect is situated on one of a number of conjugate vein sets with historical gold workings.

Laconia has also acquired a large exploration lease immediately to the southwest of the Lily Prospect (E40/260).

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Figure 1: ‘Lily Prospect’ Interpreted aerial image with drill collars and down hole intercepts, May 2011.

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Figure 2: Kookynie interpreted drill section

The drill program was Laconia’s maiden drill campaign at the Kookynie project. The project is host to a number of old workings, including the Lily Prospect, and some significant intersections have previously been recorded at Lily which highlighted the prospectivity for the project to host small high-grade deposits.

The Kookynie project is located approximately 200km from Kalgoorlie (see Project Location Map attached), in the Melita Domain of the Keith–Kilkenny Tectonic Zone, within the NNW-trending Archaean Malcom greenstone belt. The Keith-Kilkenny Tectonic Zone in the vicinity of Kookynie is a triangular shaped area hosting a succession of Archaean mafic-ultramafic igneous and metasedimentary rocks.

ENDS

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 E: istuart@laconia.com.au E: james@manadatecorporate.com.au www.laconia.com.au

About Laconia Resources

Laconia Resources is a Perth-based advanced gold and base metals exploration company. 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 35 granted tenements covering an approximate 955km[2] .

Laconia has a significant base metal ground position in the Pilbara including the Lennons Find Project. Lennons Find is an advanced base metal exploration project, which has a JORC Code Inferred Resource of 853,000 tonnes grading 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag.

The Company is focused on targeted exploration of its project areas, and further definition and expansion of its Resource base at its advanced projects.

Competent Persons Statement

Mr Ernie Poole who is a member of the Australasian Institute of Mining and Metallurgy has compiled the information within this presentation that relates to mineralisation. Mr Poole is a full time employee of Laconia Resources Limited and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion of this information in the form and context in which it appears in this report .

Appendix 1: Assay results (Au above 0.05 ppm cutoff)

Hole_ID	East	North	Azmith	Dip	From (m)	To (m)	Interval (m)	Au (ppm)
KRC001	348231	6750284	300	‐60	60	61	1	0.05
KRC001	348231	6750284	300	‐60	64	65	1	0.27
KRC002	348204	6750302	300	‐60	1	4	4	0.05
KRC002	348204	6750302	300	‐60	41	42	1	0.06
KRC002	348204	6750302	300	‐60	42	43	1	0.74
KRC002	348204	6750302	300	‐60	45	46	1	0.07
KRC004	348180	6750255	300	‐60	37	38	1	0.38
KRC004	348180	6750255	300	‐60	38	39	1	1.3
KRC004	348180	6750255	300	‐60	39	40	1	6.5
KRC004	348180	6750255	300	‐60	40	41	1	0.54
KRC006	348037	6750218	125	‐60	33	36	4	0.08
KRC007	348102	6750142	300	‐60	24	25	1	0.07
KRC007	348102	6750142	300	‐60	25	26	1	0.18
KRC007	348102	6750142	300	‐60	26	27	1	0.21
KRC007	348102	6750142	300	‐60	28	29	1	0.1
KRC007	348102	6750142	300	‐60	29	30	1	0.31
KRC007	348102	6750142	300	‐60	30	31	1	0.87
KRC007	348102	6750142	300	‐60	31	32	1	0.12
KRC007	348102	6750142	300	‐60	49	52	4	0.77
KRC010	346703	6749553	355	‐60	47	51	5	0.42
KRC011	346801	6749566	0	‐60	41	44	4	0.18
KRC012	346971	6749604	356	‐60	63	64	1	1.95
KRC012	346971	6749604	356	‐60	65	68	4	0.05
KRC014	347303	6749686	352	‐60	65	68	4	0.13
KRC015	346881	6749592	352	‐60	33	36	4	0.54

Kookynie Gold Project Location Map

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Laconia Resources Projects Location Map

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