BARYS RESOURCES LIMITED — Capital/Financing Update 2018

Nov 1, 2018

ASX RELEASE | 2 November 2018

NAMIBIAN INITIAL PLANNED EXPLORATION ACTIVITIES

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

HIGHLIGHTS

• Initial 11 hole 2,400m of diamond and reverse circulation (RC) drilling program planned across the Qembo, Zambinda and Ongava Dome Prospects

• Kopore continues to compile and interpret extensive historical geological database, covering its 100% owned Namibian exploration licenses to refine immediate targets

• Historical drilling at Qembo Dome is interpreted to have not potentially reached the economically significant footwall zone which is known elsewhere on the Kalahari Copper Belt to host copper-silver mineralisation

• Maiden drill program at Qembo Dome will target the true footwall contact zone testing for shallow and along strike extensions of the interpreted zone

• Reprocessed geophysical data from the Ongava Dome highlights the near surface presence of the D’Kar footwall structure and will remain the focus of the planned ground magnetic and electromagnetic survey

• Exploration expected to commence in Q4 2018 subject to government approval of the Environmental Application

Kopore Metals Limited (“Kopore” or “Company”) is pleased to provide an update on its 100% owned Namibian Licenses that the Company acquired in July 2018. Kopore was recently granted access to an extensive database of historical drill holes, airborne magnetic geophysical surveys and soil samples by the Namibian Department of Mines.

Qembo Dome

The Company has identified the Qembo dome as a high priority target for immediate diamond drill testing, following the receipt of Environmental Approvals and land access agreements. The Company believes that the previously reported historical drill results including 3m @ 1.11% Cu and 127.19g/t Ag[1] may not have intersected the entire mineralised sequence above the footwall contact between the D’Kar and Ngwako Pan Formations. This contact is known to host copper-silver mineralisation across the Kalahari Copper Belt in similar geological settings at the Zone 5 deposit (Cupric Canyon Capital) and T3 copper-silver deposit (MOD Resources Limited), (Figure 4). While the historical drilling confirms the presence of a mineralised copper system, the Company believes that there is potential for shallower and highergrade mineralisation along strike, down dip and adjacent to the footwall contact.

1 ASX Announcement – 30 October 2018 – First Copper Identified in Historical Namibian Database – Qembo Dome

https://www.asx.com.au/asxpdf/20181030/pdf/43zrm1sxcqh930.pdf

ASX RELEASE | 2 November 2018

The Company will commence its exploration activities on the Qembo Dome before progressing to the Zambinda and Ongava Domes.

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Figure 1 - Namibian Interpreted Geology, Domal Prospects and Initial Planned Activities

Ongava and Otjari Domes

Reprocessed historical airborne magnetic geophysical data at the Ongava and Otjari Domes has highlighted the potential for the near surface expression of the contact between the D’Kar and Ngwako Pan Formations. The prospectivity of the Ongava and Otjari Domes are further enhanced by several crosscutting structural discontinuities providing potential pathways for mineralising fluids and prospective trap sites. Similar geological structures are located on the Kalahari Copperbelt along strike at the Klein Aub and Witvlei deposits.

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ASX RELEASE | 2 November 2018

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Figure 2 - Qembo Dome Cross Section 470250mE (looking west) and Historical Significant Intersections[1]

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Figure 3 - 3D Geological Interpretation, Historical Significant Intersections[1] and Reprocessed Airborne Magnetics[1]

On receipt of the required permits, Kopore plan to undertake a comprehensive ground based magnetic and electromagnetic (EM) geophysical survey program to further refine targets and the underlying position of

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ASX RELEASE | 2 November 2018

the D’Kar and Ngwako Pan Formations. Identified targets will then be followed up with a diamond and reverse circulation drilling program.

Namibian Exploration Licencing Update

The Company continues to progress the Environmental Approval Process to allow systematic exploration across its entire Namibian 5,705km[2] licence area, including the five other domal structures identified. Kopore remains has submitted its information on schedule and confident of the approval process being completed in time for drilling to commence on schedule in Q4 2018.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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 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 14,363km[2] 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 #3[rd] and #6[th] respectfully for “investment attractiveness” in Africa, in addition to their highly ranked global position.

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, 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.

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ASX RELEASE | 2 November 2018

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

-END-

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ASX RELEASE | 2 November 2018

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Figure 4 – Kopore Metals Limited Project Portfolio 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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