Metminco Limited names Timothy Read new Chairman of the Board

Sydney / Australia – Metminco Limited (“Metminco” or the “Company”) (ASX : MNC; AIM : MNC) announces that Mr Antonio Ortuzar Vicũna, who has served as Chairman of Metminco since 16 March 2011, has elected to step down as Chairman, effective 30 June 2013, due to requirements relating to his partnership in the law firm Baker & McKenzie. The Board and Management extend their thanks to Mr Ortuzar for his considerable contribution to the Company whilst serving as Chairman.

Mr Timothy Read, currently a non-executive director of the Company, has accepted the position of Chairman, effective 30 June 2013. Mr Read brings with him substantial experience in both the mining and metals sector, and in investment banking. He is currently a member of the Audit and Risk Committee of the Company and Chairman of the Remuneration and Nomination Committee.

The Board has decided to use this opportunity to reduce the number of board members as a cost cutting measure and to re-assess the long term capabilities required of the Board given the stage of development of the Company.

William Howe, Managing Director, said “Antonio has contributed significantly to the development of Metminco over the past two years, and has provided the Company with valuable guidance and vision. The Company wishes Antonio every success with his future endeavours.

The Board would like to welcome Tim Read to his new role as Chairman. Tim brings a wealth of industry knowledge and experience and will be an asset to the Company in overseeing Metminco’s continued growth”.