BARYS RESOURCES LIMITED — Capital/Financing Update 2018

Aug 20, 2018

ASX RELEASE | 21 August 2018

BOTSWANA DRILLING UPDATE

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

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DIRECTORS & MANAGEMENT

PETER MEAGHER Non-Executive Chairman GRANT FERGUSON Managing Director

SHANNON COATES Non-Executive Director ANDREW METCALFE Company Secretary DAVID CATTERALL Exploration Manager

HIGHLIGHTS

• The Company has completed its initial drilling at the KM3 Prospect, as part of the Company’s maiden drilling program in Botswana

• The KM3 Prospect drill program has successfully confirmed the presence of near surface D’Kar Formation, alteration and sulphide pathfinder minerals, as observed in known copper-silver projects on the Kalahari Copper Belt

• Drilling has commenced at the GW3 Prospect, located in the same central structural corridor known to host regionally significant coppersilver projects

• Upon final review of the KM3 Prospect drilling program data, the Company will plan a follow-up program

Kopore Metals Limited (“Kopore” or “Company”) is pleased to provide the following update on its maiden Kalahari Copper Belt drill program at the Company’s Ghanzi West KM3 Prospect, in the Republic of Botswana.

The Company completed 15 holes for 1,236 metres of rotary air blast (RAB) (12 holes for 705m) and reverse circulation (RC)(3 holes for 531m) drilling at the KM3 Prospect.

The KM3 drilling program has confirmed the D'Kar Formation, which hosts the Kalahari Copper Belt copper-silver mineralisation, is closer to surface than previously understood.

Drilling has also identified sulphides including pyrite and pyrrhotite, sericite alteration and calcareous sediments, indicating potential proximity to favourable geological zones for potential copper-silver mineralisation.

The Company is currently collating and reviewing the data collected from the drilling program, with the objective of initiating a follow-up program on the KM3 Prospect.

Drilling has commenced on the GW3 Prospect, as the second stage of the previously announced KM3 and GW3 Prospect drilling programs[1] .

FOR FURTHER INFORMATION PLEASE CONTACT:

REGISTERED OFFICE Suite 3 Level 2, 470 Collins Street, Melbourne Vic 3000

GRANT FERGUSON Managing Director Tel. +61 3 9867 7199 info@koporemetals.com

1 ASX Announcement - KOPORE COMMENCES MAIDEN DRILL PROGRAM ON THE KALAHARI COPPER BELT https://www.investi.com.au/api/announcements/kmt/cce894b6-ab8.pdf

ASX RELEASE | 21 August 2018

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Figure 1 - Kopore Metals Regional Licence Map and Key Identified Prospects

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Figure 2 - KM3 Prospect Maiden Drilling Program Drill Site

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ASX RELEASE | 21 August 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 #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 | 21 August 2018

JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	The information in this release relates to the technical details from the Company’s current rotary air blast/percussion (RAB) and reverse circulation (RC) drill holes drilling program at KM3 on the GWD1 Prospect that lies within the Ghanzi West Group of Licences on the Kalahari Copper Belt, Republic of Botswana.
	• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used	•Both rotary air blast/percussion & reverse circulation drill chips were sampled in 1m intervals. •All samples were geologically logged by a suitably qualified geologist on site •RC samples were collected at one metre intervals from the drill rig cyclone before splitting using a commercial riffle splitter using an 87.5/12.5 ratio split on a single pass •QAQC procedures being employed during drilling include the addition of blanks, standards and field duplicates at a rate of 1 in every 20 samples
	• Aspects of the determination of mineralisation that are Material to the Public Report.	This is an update report and no samples have been submitted yet.
	• In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

ASX RELEASE | 21 August 2018

Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	•The rotary air blast/percussion drilling was drilled at 6” size. •Reverse circulation drilling was drilled at 5.5” size
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed.	•Sample recovery was recorded for both rotary air blast/percussion & reverse circulation drilling. Sample recovery was generally excellent.
	• Measures taken to maximise sample recovery and ensure representative nature of the samples.	•RC recoveries were visually checked for recovery, moisture and contamination.
	• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	•Sample recovery was generally very good and as such it is not expected that any such bias exists.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	•RC chips were geologically logged by a qualified geologist using predefined lithological, mineralogical and physical characteristic (colour, weathering etc) logging codes. The geologist on site followed Kopore’s standard operating procedure for RAB/Percussion & RC drilling processes. RAB/RC chip trays are collected for each of the intervals and stored at the field office. •Data is recorded manually by hand on paper standard logging sheets (hard copy) and then data captured to Excel logging sheets.
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	•Logging uses standard published logging charts for grain size, sorting to maintain a qualitative and semi- quantitative standard based on visual estimation •Magnetic susceptibility readings are also taken every meter.
	• The total length and percentage of the relevant intersections logged.	•100% of all recovered intervals were geologically logged
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken.	•RAB and RC Drilling only
	• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry	•Duplicate RC samples were collected from the full recovered one metre interval at the drill rig by cyclone

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ASX RELEASE | 21 August 2018

		and riffle splitter. •20% QA/QC blanks, standards and/or duplicates are inserted on site while sampling further standards are inserted by the laboratory.
	• For all sample types, the nature, quality and appropriateness of the sample preparation techniques	•Field sample preparation is suitable for the material.
	• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	•Kopore standard field QAQC procedures include the field insertion of blanks, standards and collection of field duplicates. These are being inserted at a rate of 5% for each to ensure an appropriate rate of QAQC.
	• Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.	•To be determined.
	• Whether sample sizes are appropriate to the grain size of the material being sampled.	•The sample sizes collected are in line with standard practice
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	•The current drilling program has yet to dispatch the samples.
	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	•The current drilling program has yet to dispatch the samples.
	• Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	•The current drilling program has yet to dispatch the samples.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel.	•Initial samples yet to be submitted to laboratory.
	• The use of twinned holes.	•
	• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	•Earlier primary data was collected in hardcopy form then transferred into Excel spreadsheets on a computer at the drill rigfortransfer into the drill hole database. DataShed

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ASX RELEASE | 21 August 2018

		is used as the database storage and management software and incorporates numerous data validation and integrity checks using a series of predefined relationships.
	• Discuss any adjustment to assay data.	•
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	•Drill collar coordinates are captured by GPS and later by DGPS. •RAB/Percussion & RC holes are vertical, no downhole surveys have been done.
	• Specification of the grid system used.	•The grid system used is WGS84 Zone 34S. All reported coordinates are referenced to this grid.
	• Quality and adequacy of topographic control.	•Topographic control is based on satellite survey data collected at 10m intervals. Quality is considered acceptable.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	•Data spacing is appropriate for the initial reconnaissance drilling program
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	•Initial drilling information is still currently being assessed.
Sample security	• The measures taken to ensure sample security.	•Sample bags are logged, tagged and stored at the field office.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	•All sampling procedures are documented and according to industry standard practice. •Kopore’s drill hole sampling procedure is done according to industry best practice.

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ASX RELEASE | 21 August 2018

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	•The Botswana Project area EPL’s are held by three wholly owned (100%) locally registered companies: •Ashmead Holdings (PTY) Ltd PL127/2017 (993 km2), PL128/2017 (451 km2), PL129/2017(162 km2), next renewal 30/05/2020; •Icon Trading (PTY) ltd, PL203/2016 (928 km2), PL204/2016 (924 km2), PL205/2016 (870 km2), next renewal 30/09/2019; PL207/2017 (979 km2), next renewal 30/10/2020, PL208/2017, (578 km2), next renewal 30/10/2020, PL209/2017 (167 km2), next renewal 30/10/2017 •Alvis-Crest Holdings (PTY) Ltd, PL128/2013 (413 km2), PL129/2013, (417 km2), next renewal 30/06/2018, PL210/2017 (1025 km2), next renewal 30/10/2020, , PL135/2017 (301km2), next renewal 30/09/2020, PL162/2017 (156km2), next renewal 30/09/2020, PL163/2017 (185km2), next renewal 30/09/2020, PL164/2017 (124km2), next renewal 30/09/2020 •The company expects to apply for renewal or extension of Licences as required.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	•Limited previous exploration on PL203/2016, PL204/2016 & PL205/2016 was conducted by MOD Resources Limited, comprising soil sampling, ground geophysics and drilling programs. •Previous exploration on PL128/2013 & PL129/2013 was conducted by BCL Limited, comprised an initial soil sampling program. •Limited previous exploration on PL135/2017, PL162/2017, PL163/2017 & PL164/2017 was conducted by DML, Khoemacau and MOD and comprised soil sampling.
Geology	• Deposit type, geological setting and style of mineralisation.	•The regional geological setting underlying all the Licences is interpreted as Neoproterozoic meta sediments, deformed during the Pan African Damaran Orogen into a series of NE trending structural domes cut by local structures. •The style of mineralisation expected comprises stratabound and structurally controlled disseminated and vein hosted Cu/Ag mineralisation

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ASX RELEASE | 21 August 2018

Criteria	JORC Code explanation	Commentary
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• Information relating to the rotary air blast/percussion & reverse circulation drill holes described in this announcement are listed in JORC Table 1 as well as Figure 3 of the release below •
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	•Significant intersection results will be compiled and reported by Kopore when assay results are received
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	•Down hole widths are used throughout
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	•Appropriate maps and images demonstrating the licence locations and regional setting together with the continental geo-tectonic setting.

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ASX RELEASE | 21 August 2018

Criteria	JORC Code explanation	Commentary
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	•The accompanying document is considered to be a balanced and representative report.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	•Initial ground magnetics and electromagnetics (Max-Min) surveys were conducted over two grids by Wellfields consulting, over the GW1 and GW2 soil anomalies. The first was GW1 on licence PL205/2016 consisting of 9 lines of 800m totalling 7,200m was completed. GW2 on licence PL203/2016 comprised 9 lines of approximately 1,300m totalling 11,700m was completed. •New Resolution Geophysics (NRG) completed a magnetic and electromagnetic survey over 1,091.7 km2of the current 7,891km2 licence areas. The AEM survey covered portions of the following Licences, PL203/2016, PL204/2016, PL205/2016, PL127/2017 & PL129/2017. •Reprocessing of historic Botswana Geological Institute airborne geophysics was completed over portions of the Ghanzi-Chobe belt. •Aegis consulting completed ground EM surveys over KM1(PL205/2016), KM2 & KM3 (PL203/2016 & PL127/2017)
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, _provided this information is not commercially sensitive. _	•Any further work on the Licences will be dependent upon results from the initial orientation and reconnaissance soil sampling and ongoing geological re-interpretation together with the re-processed Government aeromagnetic and NRG completed AEM surveys.

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ASX RELEASE | 21 August 2018

Drill Hole ID	WGS84_34S_E	WGS84_34S_N	RL (m)	EOH (m)	Azim	Dip	Collar Survey
KM3_RAB001	539904	7562121	1144	60	0	-90	GPS
KM3_RAB002	539840	7562027	1144	60	0	-90	GPS
KM3_RAB003	539959	7562188	1144	50	0	-90	GPS
KM3_RC001	539738	7561908	1144	143	0	-90	GPS
KM3_RAB004	541178	7560302	1146	60	0	-90	GPS
KM3_RAB005	541120	7560440	1146	60	0	-90	GPS
KM3_RAB006	541268	7560245	1146	60	0	-90	GPS
KM3_RC002	541181	7560362	1145	150	0	-90	GPS
KM3_RAB007	543044	7560982	1145	60	0	-90	GPS
KM3_RAB008	543158	7560827	1143	60	0	-90	GPS
KM3_RAB009	543253	7560685	1142	60	0	-90	GPS
KM3_RC003	543089	7560773	1141	250	0	-90	GPS
KM3-RAB010	541503	7558264	1145	60	0	-90	GPS
KM3-RAB011	541361	7558373	1145	55	0	-90	GPS
KM3-RAB-012	541150	7558632	1145	50	0	-90	GPS

Figure 3 – Drill Table

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