Issue and Allotment of Ordinary Shares

30 March 2015

Metminco Limited ('Metminco or 'the Company')

Issue and Allotment of Ordinary Shares under the terms of the Placing

Metminco hereby announces that the Company has issued and allotted 103,855,318 ordinary shares of nil par value (Conditional Shares) to sophisticated and professional investors in accordance with the Placement announced on 18 February 2015. The placement which comprised of two tranches raised a total of A$1m. The Company expects the 103,855,318 shares will commence trading on AIM on Monday, 30 March 2015. The Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Also, the Company has issued 20,045,258 shares in lieu of employee termination payments and anticipates these shares will be admitted to commence trading on AIM on Thursday, 2 April 2015.

Following admission of these Shares, the Company's enlarged issued share capital will comprise 2,054,752,432 ordinary shares with voting rights. This figure of 2,054,752,432 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.