BARYS RESOURCES LIMITED — Capital/Financing Update 2018

Jul 10, 2018

ASX RELEASE | 11 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 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

ANDREW METCALFE Company Secretary

DAVID CATTERALL Exploration Manager

KOPORE CONSOLIDATES THE NAMIBIAN EXTENSIONS OF THE KALAHARI COPPER BELT

HIGHLIGHTS:

• Eight prospecting licenses acquired over an area of 5,705km[2] on the Kalahari Copper Belt in Namibia (Namibia Licences)

• Namibia Licences are contiguous to existing Ghanzi West prospecting licences and known copper deposits

• Kopore total ground position now stands at 14,363km[2] , covering key geology and interpreted domal targets

• Historical activities on the Namibia Licences provide the Company with additional advanced targets

• Company will repossess historic data to identify priority targets as it aims for environmental management plan approval by Q4 2018

• Drilling program underway at priority targets in Botswana

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

Kopore Metals Limited (“ Kopore ” or “ Company ”) is pleased to announce the approval of eight contiguous exclusive prospecting licences ( EPLs ), across an area of 5,705km[2] , in the world class Kalahari Copper Belt ( Namibia Licences ). The Namibia Licences are located approximately 350km Northeast of the Namibian capital city of Windhoek and is bound by the Namibian border on the eastern and southern boundaries.

The Namibian Licences are contiguous to the Company’s Ghanzi West Licences in Botswana and provide a consolidated 14,363km[2] license area (Figure 1).

TENURE

The Company received from the Namibian Department of Mines and Energy ( Namibian Department ) a notice of preparedness to grant each of the Namibian Licences for a 3 year period upon acceptance by Kopore of certain terms and conditions. Kopore has accepted the terms and conditions and is now awaiting issue of the final licence documents.

The Namibian Licences comprises eight EPLs (Table 1) over a total area of 5,705km[2] on the Kalahari Copper Belt, located in the Omaheke region of the Republic of Namibia.

THE PROJECT

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

Previous explorers active on the Namibian Licences over the past 10 years, have included Eiseb Exploration and Mining Ltd (Namibian subsidiary of Cupric Canyon) and Antofagasta PLC.

The Namibian Licences have received limited exploration by these previous explorers which identified a number of copper prospects that are interpreted as domal features (Figure 2). This historical exploration included diamond drilling, RC drilling and soil samples.

11 July 2018

The Company is currently collating technical information from the Namibian Department and the Company will reprocess historic data to identify priority targets as it aims to receive environmental management plan ( EMP ) approval over the Namibian Licences by Q4 2018.

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Figure 1 – Kopore Metals regional license map and key identified targets along structural corridors (Namibian Licences highlighted in red)

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Figure 2 - Namibian Licences with geophysics showing interpreted domes and structural corridors

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11 July 2018

EXPLORATION PROGRAM AND PATH FORWARD

The Company is currently collating all available previous licence holder historical information from the Namibian Department. Initial planned program activities over the Namibian Licences include the following:

• Engage an EMP stakeholder liaison consultant to initiate the Environmental Clearance Certificate ( ECC ) process as part of EMP approval. Kopore has initiated discussions with a consultancy company in this regard. The ECC process is estimated to take up to six months.

• Activities concurrent with the ECC process:

• Collation and receipt of raw airborne magnetic geophysical data for full reprocessing

• Collation of previous prospecting data from the Namibian Department, including core samples if available

• Development and refinement of a prioritised and fully costed exploration program

• The Company has already engaged local Namibian technical and legal consultants

Kopore’s priority remains with the current drill program on its Botswanan land holding that is underway at KM3 and other priority target areas that have been identified to follow (Figure 1).

ABOUT NAMIBIA

The Republic of Namibia is a country in the south-west region of Africa which shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south.

Namibia has been defined as a premier mining destination due to its political and social stability that is characterised by a strong rule of law, a national development agenda and the Walivs Bay Export Processing Zone. The region is well served by sealed roads and rails to ports, high voltage power, telephone and water.

Namibia was recently ranked as the 6[th] most attractive African investment jurisdiction in the Fraser Institute Annual Survey of Mining Companies (2017). Namibia is a member state of the United Nations (UN), the Southern African Development Community (SADC), and the African Union (AU).

Managing Director Grant Ferguson stated:

“Kopore continues to evolve from an entrant into the Botswana region of the Kalahari Copper Belt into a major Botswana and Namibia – focused copper explorer. The Company will reprocess historic data in parallel with its maiden drill program on its first of multiple regional scale coincident copper soil anomalies and airborne electromagnetic conductor zones.

The recent exploration success in Botswana on our contiguous licences, compelled the Company to apply and secure these licences that sit on clear structural trends from existing deposits, further expanding our potential success for discovery on the Kalahari Copper Belt.

We are very excited by this extensive land package and look forward to continuing our aggressive field exploration programs.”

- END -

FOR FURTHER INFORMATION PLEASE CONTACT:

GRANT FERGUSON

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

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11 July 2018

Table 1 - Kopore Metals Limited Prospecting Licence Schedule

KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE	KOPORE METALS LIMITED & SUBSIDIARIES PROSPECTING LICENCE SCHEDULE
BOTSWANA
Prospecting Licence ID		Holder	Size **(Km2) **	Renewal Date	Ownership/ Interest	Acquired/ Disposed during **quarter **
PL203/2016		Icon-Trading CompanyPtyLtd	928.6	30/09/2019	100%	-
PL204/2016		Icon-Trading CompanyPtyLtd	925	30/09/2019	100%	-
PL205/2016		Icon-Trading CompanyPtyLtd	870.6	30/09/2019	100%	-
PL207/2017		Icon-Trading CompanyPtyLtd	985	31/12/2020	100%	-
PL208/2017		Icon-Trading CompanyPtyLtd	581	31/12/2020	100%	-
PL209/2017		Icon-Trading CompanyPtyLtd	164	31/12/2020	100%	-
PL128/2013		Alvis CrestPtyLtd	412.2	30/06/2018	100%	-
PL129/2013		Alvis CrestPtyLtd	418.3	30/06/2018	100%	-
PL210/2017		Alvis CrestPtyLtd	1,000	31/12/2020	100%	-
PL127/2017		AshmeadHoldingsPtyLtd	991	30/06/2020	100%	-
PL128/2017		AshmeadHoldingsPtyLtd	452	30/06/2020	100%	-
PL129/2017		AshmeadHoldingsPtyLtd	163	30/06/2020	100%	-
PL135/2017		Alvis CrestPtyLtd	296	30/09/2020	100%	Acquired
PL162/2017		Alvis Crest Pty Ltd	156	30/09/2020	100%	Acquired
PL163/2017		Alvis CrestPtyLtd	191	30/09/2020	100%	Acquired
PL164/2017		Alvis CrestPtyLtd	124	30/09/2020	100%	Acquired
TOTAL			8,658
NAMIBIA
EPL7049	Trans Kalahari Copper Namibia (Pty)Ltd		936.33	1/07/2021	100%*	Acquired
EPL7050	Trans Kalahari Copper Namibia (Pty)Ltd		435.85	1/07/2021	100%*	Acquired
EPL7051	Trans Kalahari Copper Namibia (Pty)Ltd		992.18	1/07/2021	100%*	Acquired
EPL7052	Trans Kalahari Copper Namibia (Pty)Ltd		942.31	1/07/2021	100%*	Acquired
EPL7053	Trans Kalahari Copper Namibia (Pty) Ltd		285.32	1/07/2021	100%*	Acquired
EPL7054	Trans Kalahari Copper Namibia (Pty)Ltd		904.31	1/07/2021	100%*	Acquired
EPL7055	Trans Kalahari Copper Namibia (Pty)Ltd		996.98	1/07/2021	100%*	Acquired
EPL7056	Trans Kalahari Copper Namibia (Pty)Ltd		211.87	1/07/2021	100%*	Acquired
TOTAL			5,705	* Mandatory 5% to be transferred to independent Namibian or company wholly owned byNamibians.
AUSTRALIA
E37/1281		Phil-AustHoldingsPtyLtd	4	20/03/2022	100%
E37/1282		Phil-AustHoldingsPtyLtd	9	20/03/2022	100%
E37/1037		SammyResourcesPtyLtd	9	22/07/2020	Earn In	-

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