ZEOTECH LIMITED — Capital/Financing Update 2012

May 31, 2012

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Laconia Resources Limited ACN 137 984 297

Level1, 41-43 Ord St West Perth WA 6005

T: +61 8 9486 1599 E: info@laconia.com.au

ASX/Media Release

1 June 2012

Laconia completes acquisition of Rasuhuilca Gold-Silver Project in Peru

Highlights

• Laconia Resources has acquired the Rasuhuilca advanced gold-silver development project in Peru.

• The project is a high-grade gold and silver project with outstanding near-term development potential and major exploration upside.

• A Feasibility Study was conducted at the project in 2008.

• Project is located approximately 500km south east of the capital Lima, in southern region of the country.

• The acquisition is a major milestone establishing Laconia as a significant emerging precious and base metals company.

• Rasuhuilca complements Laconia’s existing portfolio of precious and base metals projects in WA where the company has delivered strong consistent drilling results.

• Laconia aims to bring the project into production in 12-18 months and use its revenues to unlock the project’s major exploration upside.

• The Project has been acquired from Gold Mines of Peru Ltd for 42 million fully paid ordinary Laconia Shares and 14 million Performance Shares.

Perth based exploration company Laconia Resources Limited (ASX: LCR) is pleased to announce that it has completed the acquisition of the Rasuhuilca gold-silver development Project in Peru.

The Rasuhuilca project is an advanced, high grade gold and silver project, with outstanding near-term development potential and major exploration upside. It is located approximately 500km south east of the capital Lima, in southern region of the country.

Laconia announced its intention to acquire the Rasuhuilca project in November 2011 (see ASX announcement, 29 November 2011). It subsequently successfully completed a rigorous due diligence

process over the project and now advises that it has received shareholder approval for the acquisition at a shareholder meeting held on 31 May.

The acquisition represents a major milestone for Laconia and establishes the Company as a significant emerging precious and base metals exploration and development company. It also complements the Company’s existing portfolio of precious and base metals project in Western Australia.

A Feasibility Study was completed at the Rasuhuilca project in June 2008 and Laconia will seek to update and re-affirm the Feasibility Study, and bring the project into production as a high grade, small tonnage mining operation in 12-18 months. The Company’s strategy is to utilise the potential revenues from the project to unlock the major exploration upside, and add additional resources, at the project.

Acquisition Consideration

The Rasuluilca project will be acquired from Perth-based exploration company Gold Mines of Peru Limited. Consideration for the acquisition consists of:

• 42.055million ordinary Laconia shares;

• 14.5million performance shares;

• $120,000 paid over 6 months to a third party;

• $500,000 from production revenue only if production revenue is reached within 5 years; and

• Dr Saliba Sassine, the Chairman of Gold Mines of Peru, will join the Laconia Board following completion of the acquisition.

As part of the transaction, Laconia will also acquire Gold Mines of Peru’s other Peruvian projects, the Motil and Porcuchia gold-silver tailings projects.

Rasuhuilca Project location map

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About the Rasuhuilca Project

The Rasuhuilca project is located in the Andean volcanic arc of southern Peru, and comprises four concessions (Patacancha No. 1 to 4) over a total area of 2,765 hectares. These concessions cover a large part of an extensive high-sulphidation alteration system. The best developed mineralised body in the project is the Rasuhuilca zone, which has been explored by underground development. Average grades from underground channel sampling are about 2 g/t Au and 185 g/t Ag.

The project has an Inferred Resource estimate[1] of; 360,000t @ 1.97g/t Au and 179g/t Ag (at a 2.5 g/t AuEq cut-off[2] ). The Resource statement is based on historical data and once independent sampling has been completed to confirm the tenor of the historic data, it is envisaged the Resource category and size will be upgraded, so that it can be used as the basis for mine planning activities.

The geology and alteration of the project area is consistent with high sulphidation epithermal gold-silver mineralisation style. The geological setting is also considered favourable for the following mineral deposit styles:

• High-grade bonanza gold veins beneath the lower temperature acidic outflow zones, represented by the silica-alunite-sulphide altered zones/veins outcropping across the project area

• Large-scale, sub-horizontal disseminated gold-silver mineralisation (similar to the Pierina and Yanacocha deposits)

• Cu-Au mineralisation within buried intrusive stocks or Au-Ag-Zn mineralisation in skarns surrounding buried intrusive stocks

The project is located in the same region as Hochschild Mining Plc’s (Hochschild) major silver and gold operations. Hochschild has reserves and resources exceeding 186Moz Ag and 1.1 Moz Au.

Access to the project is via sealed highways through Nasca and Puquio, then minor roads. The final stage of approach to the project is via tracks from the nearby village of Chipao. Laconia plans to improve project access, and a short runway airstrip may also be constructed on the project area. There is a ready workforce, with prior experience in exploration and mining operations, in the villages of Chipao and Andamarca.

Works Program

Laconia plans to immediately commence exploration programs at the Rasuhuilcaproject. A program of channel sampling will be undertaken in the near future and results from this are expected soon after the program’s completion. Exploration permitting will also commence soon and the Company plans to complete its maiden drilling program on its existing resource at the project area in Q4, 2012. Exploration for larger mineralised systems on the broader tenement package will begin in July this year.

About Peru

Mining and exploration is a significant and established industry in Peru. The Peruvian economy has been growing at an average rate of 8% per annum over the last 55 years, largely due to booming mining industry, particularly in silver, gold and copper, which provides an attractive investment environment. The political system in Peru has been relatively stable over the last decade. The country’s legal framework is well established with comprehensive mining and environmental laws and regulations in place and provides an attractive investment environment for international companies.

Foreign investment is encouraged. There are tax incentives in place and laws prohibit discrimination between local and foreign entities. Recent uncertainty with a change of government and a new proposed mining tax regime has been resolved with the passing of a new tax through congress.

ENDS

1 Refer to ASX announcement 25 January 2012.

2 All cut offs based on an Xg/t Au Eq are conceptual in nature only. There has been insufficient metallurgical test work to date to determine eventual metallurgical recoveries and it is uncertain that the conceptual cut offs used below will be appropriate following further metallurgical test work.

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

Competent Persons Statement

Lennons Find Resource Estimate

Mr Michael Andrew who is a member of the Australasian Institute of Mining and Metallurgy has compiled the information within this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves. Mr Andrew is a full time employee of Optiro 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 it appears in this report.

Peru

A review of available data was conducted by Mr Michael Andrew, a Principal of Optiro Pty Ltd. Mr Michael Andrew who is a member of the Australasian Institute of Mining and Metallurgy has compiled the information within this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves. Mr Andrew is a full time employee of Optiro 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 it appears in this report.

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 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 JORC Code Resources of 1.85Mtgrading 5.1% Zn, 1.4% Pb, 0.2% Cu, 82g/t Ag and 0.26g/t Au. The Company is focused on targeted exploration of its project areas, and further definition and expansion of its Resource base at its advanced projects.

Laconia has also acquired the Rasuhuilca advanced gold-silver development project in Peru. The acquisition establishes Laconia as a significant emerging precious and base metals exploration and development Company, and complements its existing portfolio of high grade precious and base metal projects in WA.