Application for the Admission of Ordinary Shares

Metminco Limited (LSE: MNC)

("Metminco" or the "Company")

Application for the Admission of Ordinary Shares

The Company announces that application has been made to the London Stock Exchange for 165,250,855 ordinary shares ("New Ordinary Shares") to be admitted to trading on AIM, pursuant to the following transactions:

·; 75,000,000 shares issued @£$0.257 per share to Barrick Gold Corporation as consideration for Barrick surrendering its buy back right in connection with the Los Calatos Project; and,

·; 70,250,855 shares issued @£0.228 per share to Inversiones Em Dos Limitada forming part of the consideration for 50% of Sociedad Contractual Minera Ovalle; and,

·; 20,000,000 shares to be issued @£0.247 per share to selected investors forming part of an initial capital raising to raise £5 million.

It is anticipated that admission of the New Ordinary Shares will become effective and dealings will commence on or around 6 May 2011.

The New Ordinary Shares will rank pari passu, in all respects, with the existing ordinary shares that are currently in issue and are traded on AIM and the ASX. In accordance with Disclosure and Transparency Rule 5.6.1, following admission of the New Ordinary Shares, the total number of voting rights in Metminco will be 1,397,720,365. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Metminco under the FSA's Disclosure and Transparency Rules.

For enquiries:

Metminco Limited Ph: + 61(0) 408 609 916

Philip Killen - Company Secretary & CFO

Investec Bank plc Ph: +44 (0)20 7597 5104

(Nominated Adviser)

Stephen Cooper

Buchanan Communications

Tim Thompson / James Strong / Katharine Sutton Ph +44 (0) 20 7466 5000