ZEOTECH LIMITED - Interim / Quarterly Report 2011

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QUARTERLY REPORT

For the three months ending March 2011.

SUMMARY & HIGHLIGHTS FOR THE QUARTER

Lennons Find Base Metal Project Acquisition

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�� 853,000t @ 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag��
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Yandicoogina Project Acquisition

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Acquisitions provide advanced exploration and near term development potential

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Kookynie Gold Project

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Corporate

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EXPLORATION PLANNED FOR THE JUNE QUARTER

Kookynie Project

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Lennons Find

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April 2011

ASX Code: LCR

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CAPITAL STRUCTURE

81.92 million shares (at 27.04.11) 23.7 million unlisted options

LACONIA RESOURCES LIMITED

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www.laconia.com.au

BOARD MEMBERS

Michael Sharwood

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Ian Stuart

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Matthew Howison

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Graeme Smith

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LACONIA QUARTERLY REPORT - April 2011 Continued

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EXPLORATION ACTIVITIES

Barramine Project – Gold and Base Metals, East Pilbara WA

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E45/3312, E45/3233, E45/3234

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Barramine EM image and Zinc anomalism

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�� Target A��
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�� Target F��

Note1: anomalous geochemical values discussed represent the results of geochemical sampling as previously reported in the Laconia Quarterly Report December 2010.

Mooletar Magnetite Project, Mount Magnet WA

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E58/384, M58/110, M58/266, M58/349, P58/865, P58/1053, P58/1054, P58/1055, P58/1056, P58/1129, P58/1383, P58/1384, P58/1385, P58/1386, P58/1387, P58/1388, P58/1408, P58/1409, P58/1410, P58/1411, P58/1412, P58/1413, P58/1414, P58/1415, P58/1476, P58/1477, P58/1478, P58/1479, P58/1480, P58/1481, P58/1482, P58/1483, P58/1484, P58/1485, P58/1495, P58/1496, P58/1497, P58/1498, P58/1499, P58/1500, P58/1501, P58/1511

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The Mooletar Magnetite exploration target has been estimated at 240 million tonnes at an expected grade between 30 to 35% Fe��

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Kookynie Project - Gold, Kookynie Eastern Goldfields WA

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P40/1255, P40/1256 E40/260

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Kookynie Project Location Map

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BASE METAL ACQUISITIONS

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Laconia’s Base Metal Projects Location Map

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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

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The Lennons Find Acquisition

�� 853,000 tonnes grading 7.7 % Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag�� [�] ��

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Tenure

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Location and Access

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Lennons Find Mineralisation

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Lennons Find Project Geology

Previous Exploration

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LACONIA QUARTERLY REPORT - April 2011 Continued

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Jabiru Metals Limited Exploration

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Yandicoogina Project Acquisition

Location

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Tenure

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LACONIA QUARTERLY REPORT - April 2011 Continued

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Exploration Upside

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701 Mile Project – Gold and Base Metals, East Pilbara WA

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E52/2232

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Gimlet Project – Gold, Kalgoorlie WA

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E26/120

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Waukarlycarly Project – Uranium, East Pilbara WA

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E45/3763

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PROJECT GENERATION

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CORPORATE

Terms of Recent Acquisitions

Lennons Find Project

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Yandicoogina Project

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��www.laconia.com.au��

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OUTLOOK FOR MARCH 2011 QUARTER

GOLD

Kookynie

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BASE METALS

Lennons Find

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Barramine

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701 Mile

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For further information on Laconia Resources Limited please contact:

Ian Stuart James Moses �� 0419 394 919 ��0420 991 574 ��

�� www.laconia.com.au

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Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

Laconia Resources Limited

	ABN 29 137 984 297 Consolidated statement of cash flows	Quarter ended (“current quarter”) 31 March 2011	Quarter ended (“current quarter”) 31 March 2011
		31 March 2011

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows	Current quarter $A’000		Year to date (9 months) $A’000
	‐ (114) ‐ ‐ (175) ‐ 28 ‐ ‐ ‐		‐ (566) ‐ ‐ (686) ‐ 119 ‐ ‐ ‐
	(261)		(1,133)
Cash flows related to investing activities 1.8 Payment for purchases of:(a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	‐ ‐ (3) ‐ ‐ ‐ ‐ ‐ ‐		‐ ‐ (18) ‐ ‐ ‐ ‐ ‐ ‐
	(3)		(18)
	(264)		(1,151)

See chapter 19 for defined terms.

Appendix 5B Page 1

30/9/2001

Appendix 5B Mining exploration entity quarterly report

Appendix 5B Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought forward)	(264)	(1,151)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows	‐ ‐ ‐ ‐ ‐ ‐	‐ ‐ ‐ ‐ ‐ ‐
	‐	‐
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(264) 3,095 ‐	(1,151) 3,982 ‐
	2,831	2,831

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		78
		‐
1.25 Explanation necessaryfor an understandingof the transactions Item 1.23 includes aggregate amounts paid to directors including salary, directors’ fees, consulting fees and superannuation. Non‐cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest Financing facilities available Add notes as necessary for an understanding of the position.	Explanation necessaryfor an understandingof the transactions
	Item 1.23 includes aggregate amounts paid to directors including salary, directors’ fees, consulting fees and superannuation.

Amount available Amount used $A’000 $A’000

See chapter 19 for defined terms.

Appendix 5B Page 2

30/9/2001

Appendix 5B Mining exploration entity quarterly report

3.1 Loan facilities 3.2 Credit standby arrangements	Nil	Nil
	Nil	Nil

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration		$A’000
		225
		‐
		‐
		175
Total		400
Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) Total: cash at end of quarter(item 1.22)
	Current quarter $A’000	Previous quarter $A’000
	91	181
	2,740	2,914
	‐	‐
	‐	‐
	2,831	3,095

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	E52/1531 P52/1228 P52/1229 P52/1230 P52/1231	Earn In Right	80%	Nil

See chapter 19 for defined terms.

Appendix 5B Page 3

30/9/2001

Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note3) (cents)	Amount paid up per security (see note3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs, redemptions

7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	70,220,010	58,720,010

7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted

7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	3,000,000 200,000 20,500,000	‐ ‐ ‐	Exercise price 20 cents 15 cents 20 cents	Expiry date 31 March 2013 31 August 2013 30 September 2014



7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)

See chapter 19 for defined terms.

Appendix 5B Page 4

30/9/2001

Appendix 5B Mining exploration entity quarterly report

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
2 This statement does give a true and fair view of the matters disclosed.

Sign here: (Company secretary)

Date: 27 April 2011

Print name: Graeme Smith

Notes

1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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See chapter 19 for defined terms.

Appendix 5B Page 5

30/9/2001

AI assistant

ZEOTECH LIMITED — Interim / Quarterly Report 2011

66115_rns_2011-04-26_ec963bce-e27f-4944-aef8-f51b2592a24c.pdf

QUARTERLY REPORT

SUMMARY & HIGHLIGHTS FOR THE QUARTER

Lennons Find Base Metal Project Acquisition

Yandicoogina Project Acquisition

Acquisitions provide advanced exploration and near term development potential

Kookynie Gold Project

Corporate

EXPLORATION PLANNED FOR THE JUNE QUARTER

Kookynie Project

Lennons Find

CAPITAL STRUCTURE

LACONIA RESOURCES LIMITED

BOARD MEMBERS

Michael Sharwood

Ian Stuart

Matthew Howison

Graeme Smith

EXPLORATION ACTIVITIES

E45/3312, E45/3233, E45/3234

Mooletar Magnetite Project, Mount Magnet WA

Kookynie Project - Gold, Kookynie Eastern Goldfields WA

P40/1255, P40/1256 E40/260

Kookynie Project Location Map

BASE METAL ACQUISITIONS

The Lennons Find Acquisition

Tenure

Location and Access

Lennons Find Mineralisation

Previous Exploration

Jabiru Metals Limited Exploration

Yandicoogina Project Acquisition

Location

Tenure

Exploration Upside

701 Mile Project – Gold and Base Metals, East Pilbara WA

E52/2232

Gimlet Project – Gold, Kalgoorlie WA

E26/120

Waukarlycarly Project – Uranium, East Pilbara WA

E45/3763

PROJECT GENERATION

CORPORATE

Terms of Recent Acquisitions

Lennons Find Project

Yandicoogina Project

OUTLOOK FOR MARCH 2011 QUARTER

GOLD

Kookynie

BASE METALS

Lennons Find

Barramine

701 Mile

For further information on Laconia Resources Limited please contact:

Appendix 5B

Mining exploration entity quarterly report

Laconia Resources Limited

Estimated cash outflows for next quarter

Changes in interests in mining tenements

Issued and quoted securities at end of current quarter

Notes

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ZEOTECH LIMITED Interim / Quarterly Report 2011