BARYS RESOURCES LIMITED — AGM Information 2018

Nov 18, 2018

AGM PRESENTATION - NOVEMBER 2018

DISCLAIMER

Important Notice and Disclaimer

This presentation has been prepared to provide information on the Kopore Metals Limited (Kopore), its Botswana subsidiaries and Botswana projects. It is not intended as an offer, invitation solicitation or recommendation with respect to the purchase or sale of any securities. This presentation should not be relied upon as the sole representation of any matter that a potential investor should consider in evaluating Kopore. Its affiliates or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability for any statement made in, or omitted from, this presentation. Prospective investors should make their own independent evaluation of an investment in the Company.

Caution Regarding Forward Looking Information

This document contains forward looking statements concerning Kopore. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Kopore’s beliefs, opinions and estimates of Kopore as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Competent Persons Statement

The information in this Presentation that relates to exploration results is based on information compiled by Mr David Catterall, a Competent Person and a member of the South African Council for Natural Scientific Professions, a Recognised Professional Organisations (ROPO). David is engaged by Kopore as a consultant Exploration Manager. David Catterall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012). David Catterall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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HIGHLY PROSPECTIVE GEOLOGY within a major copper corridor

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CORPORATE OVERVIEW

Capital Structure

CAPITAL STRUCTURE

BOARD OF DIRECTORS & MANAGEMENT

SHARES ON ISSUE[(M)] 542.6 (Undiluted)

MARKET CAP[(M)] (at A$0.017)

9.2

PETER MEAGHER NON-EXECUTIVE CHAIRMAN

Peter has over 30 years’ experience as a director of listed companies focused in the resources sector. Previously Chairman of Namibian Resource Developer Extract Resources (ASX: EXT), which sold for A$2.1bn.

Peter is a Certified Practicing Accountant and has been involved in several private and public companies and is currently the non-executive Chairman of Australian focused Castillo Copper Limited.

CASH[(M)] (End Sept. Q 2018)

3.23

DEBT[(M)] 0

ENTERPRISE VALUE[(M)] 5.97

OPTIONS[(M)] 55.01[a,b]

Mining Executive with over 23 years’ experience in GRANT FERGUSON international resources sector. Mr Ferguson’s roles range MANAGING DIRECTOR from African resource executive positions to senior technical roles in gold and copper mining operations, including over 5 years residing in the SADC region. Ms Coates holds a Bachelor of Laws from Murdoch University and has over 20 years’ experience in corporate SHANNON COATES law and compliance NON-EXECUTIVE Ms Coates is a Non-Executive Director and Chartered DIRECTOR Secretary and currently acts as non-executive director of Flinders Mines Limited and Vmoto Limited Over 30 years experience in the resource industry including specific experience in the Kalahari Copper Belt. DAVID CATTERALL EXPLORATION MANAGER David’s project experience ranges from grass roots exploration to feasibility studies for open pit and underground operations.

a) 55m Options are exercisable at $0.06 each, expiry 8 November 2020 b) 7,500 options are exercisable at $7.60 each, expiry 9 March 2019

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THE KALAHARI COPPER BELT
A globally significant & under-explored region
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Kopore Prospecting Area on the Kalahari Copper Belt (source: https://www.cupriccanyon.com/development-exploration/exploration and https://www.asx.com.au/asxpdf/20181016/pdf/43z90dkfrgy792.pdf )

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KOPORE TIMELINE – 2018/2019

2018 ACHIEVEMENTS AND OUTLOOK FOR 2019

AQUISITION GROUND BOTSWANA NAMIBIA SOIL SAMPLE 2019 EXPLORATION GROUND & AIR Acquisition of Kopore GEOPHYSICAL EMP GRANTED LICENCES PROGRAM PROGRAM GEOPHYSICS Metallum Limited. Copper Project by PROGRAMS Management Plan Environmental GRANTED Virgo Prospect (BOTSWANA AND Botswana – Kara Dome ProspectProspect Name change to Korong North, Korong granted across Award of 5,705km[2 ] NAMIBIA) Namibia – Ongava, Kopore Metals West, Korong East majority of Licenses Prospecting Licenses RAB, RC and Diamond Omenye Dome Prospects Limited (ASX:KMT) Prospects Drilling, Mapping and Soils 8/11/2017

Botswana – Kara Dome ProspectProspect Namibia – Ongava, Omenye Dome Prospects

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2019

2018

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KORONG DOME SOIL SAMPLE DRILL PROGRAM AIRBORNE EM PROGRAMS Kara, Korong North,

Kara, Korong North, Korong East Prospects RC and Diamond

Multiple Regional Scale Senyetse, Korong North, Conductors Identified Korong East and West Prospects

NAMIBIA EMP DRILL PROGRAM

Korong Central Prospects Planned Namibia Qembo Drilling

SUBMISSION

Submitted October 2018, approval anticipated late Q4 2018

DRILL PROGRAM

Botswana - Korong Prospects Namibia - Qembo Drilling, Zambinda and Ongava Dome Prospects

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KOPORE PROJECT HIGHLIGHTS

Dominant ground position in the southern Kalahari Copper Belt

BOTSWANA

NAMIBIA

• 8,658km[2] 5,705km[2]

• • 16 prospecting licenses, • 8 prospecting licenses adjoining including multiple regional the Botswana prospecting licenses domal scale prospects •

• Reprocessed geophysical data confirmed four domal targets and a further four potential “intact” subsurface domal structures

• A total of 4,3722.3m of RAB, RC and Diamond drilling completed since July 2018

• 8 subsurface interpreted domal • 59 historically drilled diamond, RC targets up to 6km in strike and percussion holes across dome

• • targets

• Kalahari Copper Belt pathfinder minerals pyrite and pyrrhotite • >8,000+ historical soil samples intersected in drilling under current review for potential

• • Soil sampling collected 2,458 Cu-Zn anomalies across the Korong and Virgo • Multiple anomalous copper Prospects. intersections upto 3m @ 1.11%Cu and 127.19g/t Ag from highly underexplored license area

• One drill rig, currently testing • Environmental Management Plan highly ranked regional scale (EMP) submitted October 2018 subsurface domal prospects

• Government approval anticipated Q4 2018

• Soil sampling at Virgo licences

• Ground reconnaissance • Interpretation of historic data ongoing provides immediate drill targets

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KOPORE – RANKED EXPLORATION PROSPECTS

Ranked Exploration Portfolio

Ranking Factors include:

• Geological - Potential regional scale projects, field proven domal structures, interpreted potential anticlinal structures close to surface, intersected thrust faulting across northern margin of domal structures

• General Exploration – Historical drilling and soil sampling, interpreted shallow cover, existing soil anomalies, outcropping geology identified

• Other Factors - Proximity to major transport routes, accessibility and proximity to known mineralisation

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BOTSWANA – KORONG DOME – GHANZI WEST Unexplored To Unlocking Potential

PROJECT HIGHLIGHTS

• Regional scale 1,091km[2] airborne electromagnetic (EM) survey completed

• Identified anticline and synclinal structures on Kopore Dome, as delineated by other explorers on the Kalahari Copper Belt.

• Field reconnaissance and initial 2,749 RAB and RC drilling completed to test depth to target D’Kar Formation and initial soil anomalies conductors.

• Confirms the D’Kar Formation within 5m below surface.

• Reconnaissance drilling confirms the presence of associated “pathfinder sulphides” pyrite and pyrrhotite.

• Potential target top of dome position from previous >500m depth to a possible 250m below surface.

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Korong East
Korong Sth
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Kopore Metals – Botswana Ghanzi West Prospecting Licence Group with interpreted Geology and Korong Dome EM Survey

• Domal structures continue to be identified, allowing the Company to refine the current exploration programs.

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BOTSWANA - KORONG NORTH AND EAST PROSPECTS

KORONG NORTH PROSPECT

High priority target within the larger interpreted Korong Dome

• Interpreted domal structure.

• 1,259m of reconnaissance RAB and RC drilling completed across the Korong North Prospect.

• Two Cu-Pb-Zn anomalies over an area of 12km[2] .[1]

• Sulphide pathfinder minerals (Pyrite/Pyrrhotite) identified in drilling.

• Korong North exploration to recommence in Q1 2018.

KORONG EAST PROSPECT

High priority target within the larger interpreted Korong Dome

• 1,450m of reconnaissance RAB and RC drilling completed across the Korong East Prospect[2]

• D’Kar formation confirmed within 20m of surface. Minor pyrite encountered. Significant presence of Calcrete.

• New exploration program being developed for Q1/Q2 2019, based upon new Korong FW contact model

• 1 - ASX Announcement – 21/06/2018 KM1 Delivers Significant Copper Soil Anomaly Overlying EM Conductor Target https://www.asx.com.au/asxpdf/20180621/pdf/43vxym8bv1vfs3.pdf

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Korong North Soil Sample Results Overlying 2017 Airborne EM Survey Conductor Zone with Drilled Hole Locations

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Korong East Copper in Soil Sample Results Overlying 2017 Airborne EM Survey Conductor Zone and Drilled Hole Locations

2 – ASX Announcement – 7/06/2018 Copper, Lead and Zinc Soil Anomalies Confirm KM3 Airborne EM Conductor Target 10 https://www.asx.com.au/asxpdf/20180607/pdf/43vm57k0jb4q2t.pdf

BOTSWANA - KARA DOMES

Systematically exploring regional scale targets

KARA DOME

KARA DOME PROSPECT

• Three regional scale coincident copper-zinc-lead anomalies delineated

• Initial 1,623.26m of reconnaissance RAB, RC and Diamond drilling completed.

• Additional diamond drilling has commenced to follow up highly encouraging RC & RAB drilling[3]

• Within the same geological and structural corridor as the MOD Resources T3 copper-silver project and recently discovered A4 Dome Prospect

• Field geological mapped anticlines coincident with copper-zinc soil anomalies

• Large cover of calcrete and calcareous material

• Exploration to continue in Q1 2019

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Korong East
Korong Sth
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3 - ASX Announcement – 21/06/2018 KM1 Delivers Significant Copper Soil Anomaly Overlying EM Conductor Target https://www.asx.com.au/asxpdf/20180621/pdf/43vxym8bv1vfs3.pdf

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KORONG CENTRAL PROSPECT

KORONG CENTRAL DOME

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New High Priority Prospect[4]

• Identified from reprocessed airborne EM survey and Korong North and East reconnaissance drilling program.

• Korong North Prospect identified as a high priority domal target, interpreted as “intact” and within 250m below surface

• Korong Dome experiencing increasing prospectivity through the ground truthing renaissance drilling programs and engagement of an experienced Kalahari Copper Belt geophysicist

• Revised interpretation confirms Korong North as a domal structure, with further drilling planned.

• Identification of further shallow targets ongoing.

EXPLORATION PLANS

Korong Central Dome

• 2018 – Stage 1

• Initial RC drilling Program – 1,550m

KORONG CENTRAL PLANNED DRILLHOLES LOCATIONS

• 2019 – Stage 2

Drill Hole ID	East	North	RL(m)	EOH(m)	Azim	Dip
KG_01	493779.0	7543081.0	1168.769	350	0	-90
KG_02	491054.0	7541413.0	1170.1249	300	0	-90
KG_03	491842.0	7542092.0	1169.5325	300	0	-90
KG_04	492178.0	7542321.0	1169.1378	300	0	-90
KG_05	492371.0	7542374.0	1169.0116	300	0	-90
			Total	1,550

• 3,000m RC drilling program dependent on Stage 1 results and additional identified Korong North extensional targets

4 - ASX Announcement – 15/11/2018 DRILLING COMMENCES AT THE NEW KALAHARI COPPER BELT HIGH PRIORITY KORONG CENTRAL PROSPECT https://www.asx.com.au/asxpdf/20180621/pdf/43vxym8bv1vfs3.pdf

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OTHER BOTSWANA PROSPECTS

Greenfields exploration potential

SENYETSE PROSPECTS

• S1 historical anomaly confirmed by recent soil sampling program

• Interpreted coincident fold axis and cross cutting structure highlighting anomalous Cu soil analysis results

Exploration Strategy

• Further soil sampling program and basic ground magnetic and EM survey to refine geological contact position and drill targeting

OKWA PROSPECT

• Field Reconnaissance initiated and ongoing

• Planned ground geophysics program Q2 0219

VIRGO LICENCE GROUP

• Located within 40km of Cupric Canyon’s Zone 5 and Banana Zone Projects.

• Environmental management plan (EMP) waiver granted to conduct a soil sampling program.

• Soil sampling program completed and await results in early January 2019.

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Senyetse and Okwa Interpreted Geology and Exploration Prospects

LEGACY PROJECTS

• Comval – divestment of project reaching completion

• Teutonic Project – Withdrawn from Joint Venture

• WA Gold Licences – Currently relinquishing.

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NAMIBIA PROSPECTING PORTFOLIO

Confirmed copper system

PROJECT HIGHLIGHTS

• July 2018 - Eight Prospecting Licenses across an area of 5,705km[2] , bordering the Company’s Botswana Ghanzi West Licenses.

• Advanced targeting from reprocessed airborne geophysical data and historical drilling:

• Interpreted presence of four Cupric Canyon style dome structures and four potential subsurface ‘intact’ domal structures similar to MOD’s T3 & A4.

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Gobabis Exploration Base – Core Shed with historical drill core

• Acceleration of exploration planning upon receipt of large historical exploration database supplied by the Namibian Department of Mines, including:

• 59 historically drilled percussion, reverse circulation RC and diamond holes DDH.

• Further data acquisition and compilation ongoing.

• Initial >8,000 historical soil samples under current review for potential Cu-Zn-Pb anomalies.

• Secured Core Facility holding historical diamond drill core

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Historical diamond drill core

• Current Status - Currently awaiting EMP approval

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NAMIBIA PROSPECTING PORTFOLIO – IDENTIFIED PROSPECTS

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Namibian Licences with geophysics showing identified domes (Qembo, Zambinda, Mokorro and Steenbok Domes) and interpreted domes (Ongava, Omenye, Otjari and Ondjou Domal Prospects.

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NAMIBIA INITIAL EXPLORATION TARGETS

Confirmed copper system

INITIAL EXPLORATION STRATEGY

• Planned drilling in late 2018 (subject to government approval), commence an initial 11 hole 2,400m diamond and reverse circulation (RC) drilling program across the Qembo, Zambinda and Ongava Dome.

• Initial Targets:

• Qembo and Zambinda Dome

  • Test for continuation up and downdip of known high grade copper intersection

  • Test true footwall position for possible parallel mineralisation

• Ongava Domal Prospect – Potential “Intact” Dome

  • Initial reconnaissance ground geophysics

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Qembo Dome Cross Section 470250mE (looking west) and Historical drilling Significant Intersections

• Reconnaissance drilling program

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INITIAL NAMIBIAN EXPLORATION STRATEGY

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3D Geological Interpretation, Historical Significant Intersections and Reprocessed Airborne Magnetics[2]

2 - See ASX Announcement – 30 October 2018

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COPPER MARKET OUTLOOK Copper discovery rates plummet

Warehouse Stockpiles Approach 4 Year Low[1]

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10,000 LME Cash (A$/tonne) 800,000
LME Cash (US$/tonne)
Warehouse Stockpile (tonnes)
9,000 700,000
8,000 600,000
7,000 500,000
6,000 400,000
5,000 300,000
4,000 200,000
Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18
LME Copper Cash ($/tonne)
Warehouse Stockpile (tonnes)
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• Copper price outlook remains strong based on fundamentals, despite recent geopolitical uncertainty

• The World Bank expects growth in developing economies to reach 4.5% this year and 4.7% in 2019

• Demand for refined copper increased rapidly throughout the first half of this year, driven primarily by the Chinese construction industry

• A lack of significant copper discoveries will likely cause this supply deficit to exacerbate

18 1. Source: SNL

LACK OF GREENFIELD PROJECTS

After recent heavy growth, new mine development has stalled

• ✓ Over recent years, ~15 greenfield copper projects larger than 50ktpa were commissioned.

• ✓ In contrast, only 2 large projects are currently under construction and paired with long greenfield approval lead times, no new significant projects are anticipated to transition into production until at least 2020.

• ✓ This will create a unique opportunity for all near term copper producers that will see a strong uplift in the Cu price resulting from demand exceeding supply.

• ✓ In the past 3 years, capital investment across the major copper players globally fell ~50% from $28bn to $14bn.

COPPER PROJECTS RECENTLY COMPLETED AND THOSE APPROVED AND IN CONSTRUCTION:

= 50-150ktpa

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Caserones El Boleo
Antas
Bisha Sierra Gorda Anlucoya
Oyu Tolgoi Las Bambas
Ministro Hales
Jabil Sayid
Sentinel
Bozshakol
Constancia Aktogay
Toromocho
2013 2014 2015 2016 2017
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= 150-250ktpa

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= >250ktpa
Cobre Panama
Quilong
Carrapateena
2018 2019 2020
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Source: Broadhurst Minin g

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OUR PATHWAY TO COPPER

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