BARYS RESOURCES LIMITED — Capital/Financing Update 2018

Jul 23, 2018

24 July 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.

DIRECTORS & MANAGEMENT

GRANT FERGUSON Managing Director

PETER MEAGHER Non-Executive Chairman

SHANNON COATES Non-Executive Director

ANDREW METCALFE Company Secretary

DAVID CATTERALL Exploration Manager

REGISTERED OFFICE

Level 2, 470 Collins Street Melbourne Vic 3000

$2.67M placement completed to advance exploration program in Botswana and Namibia

Kopore Metals Limited (ASX: KMT) (Company) is pleased to report that the placement of 106,800,000 ordinary shares at 2.5 cents per share has raised $2.67M before costs.

Funds will be used to accelerate the Company’s maiden exploration program over Kopore’s recently defined high priority targets which have potential for a regional scale copper discovery on the Kalahari Copper Belt.

Kopore is focused on the exploration of its wholly owned 14,363km[2] prospecting license portfolio area on the emerging world class Kalahari Copper Belt in the Republic of Botswana and Namibia, and the funds raised under the placement will be used to fund an accelerated drill program as the Company aims to make a regional scale copper discovery. Drilling has commenced on the KM3 prospect, with drilling to follow at the GW3 Prospect, KM1 Prospect and now confirmed KM2 Prospect in Q3 2018.

Pursuant to Listing Rules 7.1A.4(b) and 3.10.5A whereby the issue of the placement shares was made partly under rule 7.1A:

• (a) The dilution to existing holders of ordinary securities caused by the placement issue is 20%;

KOPORE METALS LIMITED ABN 73 149 230 811 EMAIL info@koporemetals.com TEL +61 3 9867 7199 FAX +61 3 9867 8587

• (b) The ordinary securities were all issued for cash pursuant to a mandate agreement between the Company and Nascent Capital Partners and Ironside Capital, who acted as Joint Lead Managers to the placement;

• (c) The issue of securities was not underwritten, but undertaken on a best endeavours basis by the Joint Lead Managers;

• (d) Fees payable to the Joint Lead Managers include a 1% management fee payable in cash or securities at the election of the Joint Lead Managers and a 6% placement fee payable in cash or securities at the election of the Joint Lead Managers; plus, subject to shareholder approval, the right but not the obligation to subscribe for 30 million one-year unlisted options exercisable at a 25% premium to the 10-day VWAP (being $0.029) prior to the placement. The Company may elect, on 21-days’ notice, for the unlisted options to be exercised if the Company’s twenty (20) day VWAP is at least a 100% premium to the placement price. The Company will also pay DVP settlement fees up to $10,000.

Yours sincerely,

Andrew Metcalfe Company Secretary KOPORE METALS LIMITED

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REGISTERED OFFICE