Price Movement

Metminco Limited

("the Company")

Price Movement

The following statement was released on the ASX website today.

22 October 2010

Mr Dean Litis

Principal Adviser

Issuers, Melbourne

Dear Dean

Metminco Limited ("Company") - Price Query

I refer to your query dated 22 October 2010 and provide the following responses to the ASX Price Query questions.

1. Is the Company aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company?

The Company is not aware of any information that would be required under ASX Listing Rules that is not in the public domain.

The Company has become aware that a private research report has been released.

2. If the answer to question 1 is yes, can an announcement be made immediately? If not, why not and when is it expected that an announcement will be made?

Not Applicable.

3. Is there any reason to think that there may be a change in the operating loss before abnormal items and income tax so that the figure for the half year ending 31 December 2010 would vary from the previous corresponding period by more than 15%? If so, please provide details as to the extent of the likely variation.

No.

4. Is there any reason to think that the Company may record any material abnormal or extraordinary items for the half year ended 31 December 2010? If so, please provide details.

No.

5. Is there any other explanation that the Company may have for the price change and increase in volume in the securities of the Company?

The Company is not aware of any reason for the increase in volume and price.

6. Please confirm that the Company is in compliance with the listing rules and, in particular, listing rule 3.1.

The Company is in compliance with the ASX Listing Rules, in particular ASX Listing Rule 3.1.

Yours sincerely

Philip Killen

Company Secretary

Metminco Limited

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