ZEOTECH LIMITED — Capital/Financing Update 2011

Mar 8, 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

9 March 2011

Laconia to acquire Lennons Find Base Metal Project and Yandicoogina Project

Acquisitions provide advanced exploration and near term development potential

Highlights

• Laconia Resources has entered into an agreement to purchase Jabiru Metals Limited equity in the Lennons Find Base Metal Project.

• Lennons Find project has a JORC Code Inferred Resource of 853,000 tonnes grading 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag at the Hammerhead sulphide zone. Mineralisation is open down dip and along strike.

• Project hosts four other VHMS prospects over about 4km of strike at a similar stratigraphic level and contains significant shallow mineralisation which requires additional drilling to define a resource.

• Mineralisation at Lennons Find project is typically near surface and potentially amenable to open pit mining.

• Considerable potential exists to define additional mineralisation at Lennons Find and increase the resource base at the Hammerhead deposit.

• The Yandicoogina Project acquisition from Shaw River Resources secures 13km of similar geology along strike and adds considerable exploration upside. Project is located <10km south west along strike from Lennon’s Find project.

• Consolidated ground position enhances Laconia’s existing highly prospective Barramine Base Metal project.

Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce it has entered into an agreement to purchase Jabiru Metals Limited (ASX: JML) equity in the Lennons Find Base Metal project in the Pilbara region of Western Australia.

Laconia has also entered into an agreement with Shaw River Resources (ASX: SRR) to purchase a 100% interest in the nearby Yandicoogina project, which is located less than 10km along strike from the Lennons Find project.

The Lennon’s Find and Yandicoogina projects are located in close proximity to Laconia’s highly prospective Barramine Base Metal Project. The acquisitions deliver a JORC Code Resource and transform the Company in to an advanced exploration play, with near-term development potential. (See Figure 1 for location of projects).

Details of the terms of both project acquisitions are appended to this announcement.

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Figure -1 The Lennons Find Project is located 70km south east of Marble Bar and approximately 230km southeast of Port Hedland in the Pilbara Region of Western Australia

The Lennons Find Acquisition

Jabiru Metals is divesting its 95% interest in the Lennons Find Base Metal Project, located 70km south east of Marble Bar in the Achaean Pilbara Craton of Western Australia.

The project contains a JORC Code Inferred Resource of 853,000 tonnes grading 7.7 % Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag, at the Hammerhead sulphide zone, and hosts five volcanic hosted massive sulphide (VHMS) style base metals prospects.[ 1]

Similar style base metal deposits are known throughout the Pilbara region including the 19mt Cu-Zn Panorama deposit recently acquired from CBH Resources by Venturex Resources (ASX: VRX) 100km to the west.

Tenure

The Lennons Find Project comprises one granted Mining Lease, M45/368, held by Jabiru Metals. A combined 5% free carried interest is held by the original prospectors, Paul Rodney Fletcher and William John Marshall.

The project is within, but excised from, the Meentheena Conservation Park administered by the Department of Conservation and Land Management.

The adjacent Mt Edgar Pastoral Lease is a privately run cattle grazing property. There are no known heritage sites in the project area and the mining lease is not subject to Native Title.

Location and Access

The Lennons Find Project is located 70km south east of Marble Bar and approximately 230km southeast of Port Hedland in the Pilbara Region of Western Australia, (Figure 1).

Access to the area is via the Great Northern Highway, which passes 10km to the east of Marble Bar. The sealed Ripon Hills road which connects Marble Bar with the Woodie-Woodie manganese mine and the Telfer gold mine to the east provides access to within 20km of the project. A network of station tracks, cleared grid lines, fence lines and other tracks provide good access to, and within, the project.

Lennons Find Mineralisation

There are five mineralised zones occurring at two stratigraphic horizons 20m to 60m below the base of the Miralga Formation. The upper horizon hosts the Hammerhead, Tiger and Bronze Whaler mineralisation and the lower horizon hosts the Grey Nurse zone. Mineralisation occurs typically as conformable, planar lodes continuous over hundreds of metres dipping 45˚ to 65˚ to the south east.

At the surface, mineralisation is present as gossanous pods and lenses with secondary copper carbonates. Channel sampling of the gossans overlying the Hammerhead zone returned an average grade of 1.25% Cu, 1.20% Pb and 8.20% Zn over an average width of 0.68m. The base of oxidation is not well constrained however, it is probably located at about 20m depth.

The mineralisation is open down dip and along strike. There is a small oxide resource above this at less than 20m depth. The other 4 prospects are located over about 4km of strike at a similar stratigraphic level and contain significant shallow mineralisation, but have not been sufficiently drilled to define a resource. The metal association is typically Zn rich with Pb-Cu-Ag-Ba and Au.

1 Jabiru Metals Limited Annual Report 2010

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Figure 2- Lennons Find Project Geology

Previous Exploration

The Lennons Find base metal mineralisation was first discovered in 1907. Small scale mining occurred between 1951 and 1960 with recorded production of 30.5 tonnes of copper ore and 20.3 tonnes of zinc ore from small pits to a depth of 7.5m.

From 1964 several companies explored the project by means of mapping, gossan and costean sampling, shallow percussion and diamond drilling. This work defined 5 separate prospects over 4km strike: Bronze Whaler, Mako, Hammerhead, Tiger and Grey Nurse with most of the drilling being at the Hammerhead Prospect.

Shallow percussion drilling on 12.5m sections (1-3 holes per section) along the gossan outcrop defined several small mineralised oxide zones, the largest of which occurs over about 100m of strike at the Hammerhead prospect.

Diamond drilling was completed on all the prospects to a relatively shallow depth. At Hammerhead the deepest drill-hole LF10 intersected the mineralised horizon at 280m depth, 400m down dip from the outcropping gossan. Typical diamond drill intersections are:

• Grey Nurse – LF19 - 4m (80-84m) @ 2.85% Zn, 0.65% Pb, 0.03% Cu, 42g/t Ag.

• Bronze Whaler – LF6 - 5m (80-84m) @ 2.91% Zn, 0.45% Pb, 0.13% Cu, 33.9g/t Ag.

• Hammerhead - LF 10 - 6m (299-304m) @ 9.78% Zn, 1.16% Pb, 0.16% Cu, 78g/t Ag.

Jabiru Metals Limited Exploration

Jabiru Metals Limited acquired the Lennons Find tenement (M45/368) in 1997 from Gascoyne Gold Mines.

Jabiru compiled historical drilling data and calculated a JORC Code Inferred Resource for the sulphide portion of the Hammerhead zone:

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 853,000 tonnes @ 7.7% Zn, 0.7% Cu, 1.8% Pb, 115g/tAg.
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Figure 3 –Hammerhead cross section with significant intersections.

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Figure 4-Hammerhead prospect cross section with significant intersections.

Yandicoogina Project Acquisition

Location

The Yandicoogina Project (E45/3293) is situated in the east Pilbara less than 10km SW along strike from the Lennons Find Project (Figure 1), and 50km north of Nullagine and 46km southeast of Marble Bar. The area is easily accessible by numerous graded tracks and the Nullagine to Marble Bar section road transects the western side of the Project.

Tenure

The Yandicoogina Project comprises one granted exploration licence (E45/3293) subject to an agreement with the Yamatji Marlpa Aboriginal Corp, agents for the Njamal claimant Group.

Exploration Upside

The Yandicoogina Project includes a significant strike length (some 13km) of felsic volcanics and sediments of the Duffer formation which host the Lennons Find Mineralisation and is along strike from the Lennons Find massive sulphide resource. The stratigraphy carries massive sulphides that are dominated by pyrite and sphalerite with significant gold credits.

The Project lies adjacent to, and west of, the Yandicoogina gold mining centre which produced 199kg of gold from 3,293 tonnes of ore yielding an average grade of 61.5g/t (1897-1985). A number of shallow workings involving shafts, pits and local alluvial workings lie within the Project area.

Terms of Acquisitions

Lennons Find Project

Laconia has agreed to acquire a 100% interest in Jabiru Metals equity in the Lennons Find Project in consideration of the issue of 10 million Laconia shares (subject to voluntary escrow for six months).

Yandicoogina Project

Laconia has agreed to acquire a 100% interest in Shaw River Resources Yandicoogina Project in consideration of the issue of 1.7 million Laconia shares (subject to voluntary escrow for six months).

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@mandatecorporate.com.au www.laconia.com.au

About Laconia Resources

Laconia Resources is a Perth-based 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 32 granted tenements covering 855km[2 ] (see projects Location Map below). It is focused on active, targeted exploration programs to discover significant mineral deposits at its project areas.

Competent Persons Statement

Mr Darryl Mapleson who is a member of the Australasian Institute of Mining and Metallurgy has compiled the information within this presentation that relates to mineralisation. Mr Mapleson is a principal of BM Geological Services Pty Ltd 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 is appears in this report .

Laconia Resources Projects Location Map

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APPENDIX 1

Table 1 – Lennons Find RC & Diamond Drill Intersections

Area	Hole Id	Intersection	Intersection	Width			Assays	Assays
		From (m)	To (m)	True (m)	Cu%	Pb%	Zn%	Ag g/t	Au g/t
Hammerhead	Y601	57.91	59.43	1.40	0.08	1.40	5.60	45.9
	Y701	50.75	52.43	1.40	0.02	2.00	4.90	79.6
		52.43	53.65	1.10	1.37	2.80	8.30	180.7
	LF1	96.55	101.73	4.87	0.23	0.86	4.09	53.8
	inc	96.55	97.90	1.26	0.12	0.57	2.56	44.3
	and	99.73	101.73	1.88	0.48	1.83	8.75	107.5
	LF2	81.18	88.08	5.98	0.14	0.89	1.92	48.7
	inc	81.18	81.78	0.52	0.02	0.37	0.50	160.0
	and	84.02	86.02	1.78	0.28	2.82	6.00	94.9
	LF3	93.30	94.61	1.23	0.03	2.08	4.20	180.5
		105.58	106.25	0.63	1.45	0.68	3.50	75.0
	LF4	no significant mineralisation
	LF9	204.10	207.10	2.95	0.56	0.85	10.83	81.0
		207.10	209.10	1.97	0.48	0.09	0.41	32.5
	LF10	299.30	300.30	0.97	0.04	5.70	18.00	142.0
	LF11.	105.00	106.00	0.93	0.21	0.08	0.33	14.0
	LF12	194.70	195.70	0.96	0.34	0.25	0.57	38.0
	LF15	193.55	195.55	1.80	0.09	0.15	0.40	39.5
		197.23	199.23	1.80	0.15	0.49	1.28	52.5
	07LFRC001	149.00	153.00	~4.00	0.34	2.04	8.69	63.0	0.21
	07LFRC002	no significant mineralisation
	07LFRC005	286.00	297.00	~10.00	0.15	0.77	2.56	25.3	0.16
	inc	286.00	288.00	~2.00	0.17	3.82	11.56	97.5	0.13
	07LFRC006	no significant mineralisation
Tiger	LF7	58.30	59.30	0.87	0.03	1.92	3.40	105.0
		62.30	63.30	0.87	0.07	0.01	2.10	6.0
	LF8	51.88	53.88	1.82	0.09	1.27	4.48	47.5
	inc	51.88	52.88	0.91	0.03	2.35	6.40	86.0
	and	52.88	53.88	0.91	0.14	0.19	2.55	9.0
	LF13	60.80	61.80	0.90	0.36	0.46	4.90	43.0
		61.80	63.80	1.80	0.21	0.00	1.39	6.5
Tiger FLEM	07LFRC007	212.00	221.00	N/A	0.33	0.14	0.55	22.5	0.13
	inc	212.00	215.00	N/A	‐	0.35	1.33	31.3	0.17
Mako East	LF20	90.00	92.00	2.00	0.04	0.00	0.33	2.0
		128.00	130.00	2.00	0.01	0.16	0.09	2.0
Mako	Y831	39.78	41.45	1.50	0.50	0.10	0.46	30.5
Bronze Whaler	Y1201	49.53	51.51	1.80	0.05	0.60	1.50	1.5
	LF5	scattered values		only
	LF6	80.47	85.47	3.53	0.13	0.45	2.94	33.9
	inc	80.47	81.97	1.06	0.25	1.16	4.77	88.0
	and	84.47	85.47	0.71	0.05	0.05	5.00	7.0
Grey Nurse	LF19	80.00	84.00	4.00	0.06	0.70	3.00	42.0
	LF14	105.70	109.70	3.46	0.01	0.03	0.59	1.3
		109.70	110.70	0.87	0.10	0.00	6.10	3.0
		110.70	117.70	6.06	0.07	0.02	0.72	2.6
Grey Nurse	07LFRC004	100.00	101.00	N/A	‐	‐	1.49	4.0	‐