Metminco Regulatory News (MNC)

24 November 2011

Metminco Limited

("Metminco" or the "Company")

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, SOUTH AFRICA, OR JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

Placing

Further to the announcement of 8.15 a.m. this morning (the "Announcement"), Metminco is pleased to announce that the UK books in relation to the Institutional Placing have now closed.

Allocations will be notified tomorrow morning (London) following the close of the Australian portion of the book.

Defined terms in this announcement shall have the same meaning as in the Announcement.

Enquiries:

For further information please contact:

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, SOUTH AFRICA OR JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

This announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This announcement has been issued by and is the sole responsibility of Metminco.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Canaccord Genuity, Liberum or Canaccord BGF or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement, or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Canaccord Genuity, which is authorised and regulated in the United Kingdom by the FSA, is acting for Metminco and for no-one else in connection with the Placing, and will not be responsible to anyone other than Metminco for providing the protections afforded to customers of Canaccord Genuity nor for providing advice to any other person in relation to the Placing or any other matter referred to herein.

Liberum, which is authorised and regulated in the United Kingdom by the FSA, is acting for Metminco and for no-one else in connection with the Placing, and will not be responsible to anyone other than Metminco for providing the protections afforded to customers of Liberum nor for providing advice to any other person in relation to the Placing or any other matter referred to herein.

Canaccord BGF, which is authorised and regulated in Australia by the ASIC, is acting for Metminco and for no-one else in connection with the Placing, and will not be responsible to anyone other than Metminco for providing the protections afforded to customers of Canaccord BGF nor for providing advice to any other person in relation to the Placing or any other matter referred to herein.

The distribution of this announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by Metminco, Canaccord Genuity, Liberum or Canaccord BGF that would permit an offering of such shares or possession or distribution of this announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Metminco, Canaccord Genuity, Liberum and Canaccord BGF to inform themselves about, and to observe such restrictions. The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares.

This announcement is not for distribution directly or indirectly in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Canada, South Africa or Japan or any jurisdiction into which the same would be unlawful. This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. No offering of securities will be made in the United States by Metminco in connection with the Placing.

This announcement does not constitute or form part of an offer or solicitation to purchase or subscribe for shares in the capital of Metminco in South Africa, Canada or Japan or any jurisdiction in which such an offer or solicitation is unlawful. No public offering of securities of Metminco will be made in connection with the Placing in the United Kingdom or elsewhere.

No prospectus has been lodged with, or registered by, the Japanese Ministry of Finance; and the Placing Shares have not been, and nor will they be, registered under or offered in compliance with the securities laws of any state, province or territory of Canada, South Africa or Japan. Accordingly, the Placing Shares may not (unless an exemption under the relevant securities laws is applicable) be offered, sold, resold or delivered, directly or indirectly, in or into the United States, South Africa or Japan or any other jurisdiction outside the United Kingdom.

This announcement is not a disclosure document under Chapter 6D of the Corporations Act, has not been lodged with ASIC and does not purport to include the information required of a disclosure document under the Corporations Act. No disclosure document has been, or will be lodged, with ASIC in respect of the offer of the Placing Shares. The Institutional Placing is only made to persons in Australia to whom it is lawful to offer the Placing Shares without disclosure to investors under Chapter 6D of the Corporations Act under one or more exemptions set out in section 708 and of the Corporations Act.

The Company is not issuing the Placing Shares for the purposes of the persons to whom they are issuing, selling or transferring them, or granting, issuing or transferring interests in, or warrants over, them.

The Placing Shares have not been approved or disapproved by the US Securities and Exchange Commission, any State securities commission or any other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing or the accuracy or adequacy of this announcement. Any representation to the contrary is unlawful.