New Investor Presentation

Metminco Limited (LSE: MNC)

("the Company")

16 October 2012

Metminco Investor Presentation

Metminco Limited announces that it has today released an updated investor presentation.

A copy of the presentation can be download from the Company's' website www.metminco.com.au

For further information please contact:

South America:

William Howe - Managing Director Ph: +56 (2) 411 2600

Australia:

Stephen Tainton - Investor Relations Ph: +61 (0) 9460 1856

Philip Killen - Company Secretary & CFO Ph: +61 (0) 408 609 916

Broker - BGF Equities

Warwick Grigor Ph: +61 (0) 2 9263 2700

United Kingdom:

Tim Read - Non-Executive Director Ph: +44 (0) 777 072 1809

Nomad and Joint Broker - Canaccord Genuity Limited

Andrew Chubb Ph: +44 (0) 207 523 8000

Joint Broker - Liberum Capital Limited

Michael Rawlinson/ Tim Graham Ph: +44 (0) 20 3100 2225

Investor Relations

Gordon Poole - Buchanan Ph: +44 (0) 20 7466 5000

About Metminco:

Metminco is a dual ASX and AIM listed company with a portfolio of copper, molybdenum and gold projects in Peru and Chile.

The Los Calatos Project, located in southern Peru, has a Mineral Resource of 2,316 million tonnes, comprising an Indicated Resource of 885 million tonnes at 0.42% Cu and 270 ppm Mo, and an Inferred Resource of 1,431 million tonnes at 0.40% Cu and 180 ppm Mo (at a 0.2% copper cut-off).

The Chilean assets include the Mollacas Project with a Mineral Resource of 34.3 million tonnes consisting of a Measured Resource of 19.4 million tonnes at 0.45% Cu and 0.16g/t Au, an Indicated Resource of 9.4 million tonnes at 0.34% Cu and 0.16g/t Au, and an Inferred Resource of 5.5 million tonnes at 0.26% Cu and 0.15g/t Au (at a 0.2% copper cut-off); and the Vallecillo gold/zinc project with a Mineral Resource of 10.1 million tonnes consisting of an Indicated Resource of 7.9 million tonnes at 1.14g/t Au; 11.4g/t Ag; 1.32% Zn; 0.29% Pb and an Inferred Resource of 2.2 million tonnes at 0.78g/t Au; 8.2g/t Ag; 0.58% Zn; 0.26% Pb (at a cut-off grade of 0.3g/t Au).

The Company also has a number of early stage exploration projects where initial exploration activities have identified anomalous copper, molybdenum and gold values.

Competent Persons Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Colin Sinclair, BSc, MSc, who is a Member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the Company as General Manager Exploration.

Colin Sinclair has sufficient experience (over 30 years) which is relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results'. Mr Sinclair, as Competent Person for this announcement, has consented to the inclusion of this information in the form and context in which it appears herein.