BARYS RESOURCES LIMITED — Capital/Financing Update 2018

Nov 14, 2018

ASX RELEASE | 15 November 2018

ABOUT KOPORE METALS

Kopore Metals Limited is a public company listed on the Australian Securities Exchange (ASX) and is actively exploring its copper-silver prospects on the emerging world class Kalahari Copper Belt, Republic of Botswana and Namibia.

DIRECTORS & MANAGEMENT

PETER MEAGHER Non-Executive Chairman

GRANT FERGUSON Managing Director SHANNON COATES Non-Executive Director

DAVID CATTERALL Exploration Manager

REGISTERED OFFICE Suite 5, 62 Ord Street West Perth WA 6005

DRILLING COMMENCES AT THE NEW KALAHARI COPPER BELT HIGH PRIORITY KORONG CENTRAL PROSPECT

HIGHLIGHTS

• 1,550m drill campaign has commenced at the Korong Central Prospect, testing the prospective D’Kar formation footwall geological contact, located on the Kalahari Copper Belt, Republic of Botswana

• Revised geophysical interpretation suggests potential shallow footwall contact (less than 250m below surface) at the Korong Central Prospect

• Multiple new targets across the highly prospective Korong

• Dome are currently being generated

• Namibian environmental management plan (EMP) approval on schedule for late 2018

Kopore Metals Limited (“ Kopore ” or “ Company ”) is pleased to announce it has commenced drilling on the newly identified Korong Central Prospect, located on the Kalahari Copper Belt, Botswana (Figure 1). The Company is targeting the prospective footwall contact between the D’Kar and Ngwako Pan Formations. This geological contact position is known to host copper-silver mineralisation across the Kalahari Copper Belt in a similar geological setting as the Zone 5 copper-silver project (Cupric Canyon Capital) and T3 copper-silver project (MOD Resources Limited) (Figure 2).

Following completion of the reprocessing of airborne electromagnetic survey information and the Korong North and Korong East reconnaissance drilling, the Korong Central Prospect has been identified and prioritised for immediate follow up.

The data review and targeting process is being undertaken by Mr Cas Lotter who has extensive Kalahari Copperbelt geophysical exploration experience on the Kalahari Copper Belt.

The Korong Central Prospect has been assigned as the highest priority target on the Korong Dome, with a potential shallow D’Kar/Ngwako Pan Formation footwall contact position, interpreted within 250m below surface (Figure 1).

This interpretation is potentially very significant. If the footwall contact is intercepted at much shallower depth than previous interpretations, then the possibility of any copper-silver mineralisation will significantly enhance the Korong Dome prospectivity.

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ASX RELEASE | 15 November 2018

Based upon this new interpretation Kopore has amended its current drill program to immediately focus on testing the Korong Central Prospect. The RC drill rig has been moved from the Korong North Prospect to Korong Central and has commenced drilling.

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Figure 1 - Plan View of Initial Korong Central Drilling Program and Section View of Airborne EM Geophysical Interpretation

The initial drilling program comprises up to 1,550m of RC drilling to a maximum planned depth of 350m. Results are anticipated before the end of 2018.

The Company is continuing to assess multiple targets across its 14,363km[2] land package in Botswana and Namibia.

“We recently received the results of the reprocessing of EM survey data that has identified the high priority target at the Korong Central Prospect and prompted the Company to immediately commence a drilling program. This target represents a potential shallow domal structure, footwall position within 250m of surface. The target also coincides with the key regional structures, surficial calcrete, which meets our initial key ranking criteria for a high priority target,” stated Managing Director Grant Ferguson.

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ASX RELEASE | 15 November 2018

The upcoming initial drill program[1] (ASX Release 2 November 2018) across the border in Namibia is also on schedule and subject to commence upon receipt of government environmental approvals, expected in late Q4 2018.

As we move into the new year it is an exciting time for Kopore with drilling expected to be underway at two major copper targets within 70km of each other in two countries.

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- Figure 2- 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 )

FOR FURTHER INFORMATION PLEASE CONTACT:

GRANT FERGUSON

GRANT FERGUSON ADAM MIETHKE Managing Director Director Kopore Metals Limited Discovery Capital Partners Tel. +61 3 9867 7199 +61 8 6365 5200 info@koporemetals.com adam.miethke@discoverycapital.com.au www.koporemetals.com www.discoverycapital.com.au

1 ASX Announcement –Namibian Initial Planned Exploration Activities - 2/11/2018 https://www.asx.com.au/asxpdf/20181102/pdf/43zywj55kbmdpj.pdf

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ASX RELEASE | 15 November 2018

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to exploration results is based on information compiled by Mr David Catterall, a Competent Person and a member of 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 is a member of the South African Council for Natural Scientific Professions (SACNASP), a recognised professional organisation. 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.

The information in this announcement that relates to geophysical results is based on information compiled by Mr Cas Lotter, a Competent Person and a member of a Recognised Professional Organisations (ROPO). Cas is engaged by Kopore as a geophysical consultant. Cas Lotter 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). Cas Lotter is a member of the South African Council for Natural Scientific Professions (SACNASP), a recognised professional organisation.

Cass Lotter consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

DISCLAIMER:

Forward ‐ looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “potential(s)”and similar ‐ expressions are intended to identify forward looking statements.

These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, ‐ or implied or projected by, the forward looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to ‐ place undue reliance on these forward looking statements that speak only as of the date ‐ hereof, and we do not undertake any obligation to revise and disseminate forward looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non ‐ occurrence of any events

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ASX RELEASE | 15 November 2018

ABOUT KOPORE

Kopore Metals Limited (ASX:KMT) is a public company listed on the Australian Securities Exchange (ASX) and is actively exploring its copper-silver prospects on the emerging world class Kalahari Copper Belt, located in the Republic of Botswana and Namibia.

Kopore continues to explore for stratabound copper-silver deposits across its sixteen 100% owned prospecting licenses in Botswana and eight prospecting licences in Namibia, for a total of 14,363 square kilometres on the world class Kalahari Copper Belt. Kopore believes the Kalahari Copper Belt can provide the potential for large scale discovery, as demonstrated by neighbouring resource development companies.

The directors and management of Kopore have strong complimentary experience with over 20 years of Australian and International technical, legal and executive roles in exploration, resource development, mining, legal and resource fields.

Botswana and Namibia are stable, pro-mining jurisdictions, supportive of mineral exploration and development. According to the most recent Fraser Institute Annual Mining Survey, Botswana and Namibia are ranked #3rd and #6th respectfully for “investment attractiveness” in Africa, in addition to their highly ranked global position.

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Table 1 - Korong Central Planned Drillholes Locations

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

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