BARYS RESOURCES LIMITED — Capital/Financing Update 2019

Aug 18, 2019

ASX RELEASE | 19 August 2019

DRILLING TO COMMENCE IMMEDIATELY ON THE

NEW OTJARI DOMAL PROSPECT

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

SIMON JACKSON Managing Director

GRANT FERGUSON Non-Executive Director SHANNON COATES Non-Executive Director

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

HIGHLIGHTS

• Otjari Domal Prospect elevated in priority after ground NSAMT geophysical survey identifies an interpreted ‘intact’ subsurface domal target within 100-200m from surface

• Interpreted Otjari domal target to be immediately drill tested

• Mobilising diamond drill rig to conduct initial drilling at the Otjari Domal Prospect,

• Additional NSAMT ground geophysical surveys currently being planned across to other targets in Namibia and Botswana

Kopore Metals Limited (ASX: KMT, “Kopore” or the “Company”) is pleased to announce that the Natural Source Audio Magneto-Telluric ( NSAMT ) geophysical survey has been completed at the Company’s Otjari Domal Prospect (Figure 1), located in the Republic of Namibia.

The Otjari Domal Prospect NSAMT survey has identified immediate drill targets from near surface to depth of 300m below surface and provides further explanation to observations from historical airborne magnetic surveys and a solitary percussion drill hole in the Otjari area.

The Company’s technical team has interpreted the Otjari Domal Prospect as a potential subsurface domal structure and the south-western continuation of the identified Qembo Dome, known to host copper mineralisation[1] (Figures 2 and 3). The Otjari Domal Prospect is approximately 32km in strike length and the targeted D’kar/Ngwako Pan formation contact appears to be developed at potentially shallower depths (within 250m of surface) than at the Ongava Domal Prospect.

The results of the NSAMT ground geophysical survey has prompted the Company to conduct an initial 600m of diamond drilling across the Otjari Domal Prospects. Based upon the results of the initial drilling, the Company will consider a larger RC and Diamond drilling program at the Otjari and Ongava Domal Prospects.

The Otjari Domal Prospect NSAMT survey comprised 14.5 kilometres of 100m spaced NSAMT readings that were acquired by Namibian based Gregory Symons Geophysics (GSG) along one north-north-west to south-south-east orientated line (Figure 3).

Further drilling has been planned for Q4 CY2019, across selected targets at the Ongava Domal Prospect, with laboratory assays from the previous Ongava Domal Prospect drilling campaign anticipated in early September 2019.

1 ASX Announcement – 30/10/2018 – “First Copper Intersections identified in Historical Namibian Database – Qembo Dome” https://www.asx.com.au/asxpdf/20181030/pdf/43zrm1sxcqh930.pdf

ASX RELEASE | 19 August 2019

Managing Director Simon Jackson commented:

“The challenge for Kopore as a small junior explorer has always been how to most effectively spend our exploration dollars as we search for the next copper discovery on the Kalahari Copper Belt. It is very encouraging that the NSAMT has indicated an interpreted intact, near surface, dome at Otjari and we are excited to see the results of the initial drilling. All the indicators suggest we are on the right track and we look forward to keeping the market updated on exploration progress.”

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Figure 1 - Namibia Interpreted Geology, Historical Exploration Activities and Recent Otjari Domal Prospect NSAMT Survey Line

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ASX RELEASE | 19 August 2019

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Figure 2 - Otjari Domal Prospect NSAMT Survey Line and Initial Planned Drilling Program

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Figure 3 - Otjari Domal Prospect Cross Section A-B with Interpreted Geology and Planned Drilling

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ASX RELEASE | 19 August 2019

Path Forward – Otjari Domal Prospect

• Anticipated drilling program to commence in early September 2019.

• Maiden reconnaissance diamond program is anticipated to achieve an initial 500m depth from September to early October, with the initial drill results anticipated to be received in October 2019.

• The Company is now assessing whether to conduct an airborne EM survey over a targeted section of the interpreted Otjari Domal Prospect, to provide further understanding of the Prospect.

FOR FURTHER INFORMATION PLEASE CONTACT:

SIMON JACKSON Managing Director Kopore Metals Limited info@koporemetals.com www.koporemetals.com

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 14,154km[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 #1[st] 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 Keith Webb, a Competent Person and a member of a Recognised Professional Organisations (ROPO). Keith is engaged by Kopore as a consultant Exploration Geologist. Keith Webb 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). Keith Webb is a member of the Australian Institute of Geoscientists, a recognised professional organisation.

Keith Webb 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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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 | 19 August 2019

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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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Appendix A – JORC Code 2012 Edition: Table 1 - Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)

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

JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)	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
	• 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. •Vector NSAMT survey using 50m stations and 100m dipoles. The survey measures Ex and Hy (Tm component) and Ey and Hx (Te component). Frequencies 3 Hz to 10 KHz are stacked for 30 seconds. Frequencies 0.5Hz to 256HZ are stacked for 5 minutes. This measuring regime results in approximately 25-30 MB of time series data per station resulting in a depth of investigation of approximately 700- 1,000m •A Zonge GDP 32 24bit receiver with Zonge ANT-6 high frequency coils are used to collect the data. A remote refence station is not used as the EM environment in Kalahari is extremely quiet and this is not necessary.
	• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used • Aspects of the determination of mineralisation that are Material to the Public Report. • 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.

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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). •No drilling is being reported
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. •No drilling is being reported
	• Measures taken to maximise sample recovery and ensure representative nature of the samples. •No drilling is being reported
	• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gainof fine/coarse material. •No drilling is being reported
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. •No drilling is being reported
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. •No drilling is being reported
	• The total length and percentage of the relevant intersections logged. •No drilling is being reported
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or allcore taken. •No drilling is being reported
	• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry •No drilling is being reported
	• For all sample types, the nature, quality and appropriateness of the sample preparation techniques •No drilling is being reported
	• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. •No drilling is being reported
	• 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. •Sampling is deemed appropriate for the type of survey and equipment used.
	• Whether sample sizes are appropriate to the grain size of the material being sampled. •No drilling is being reported

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ASX RELEASE | 19 August 2019

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. •No drilling is being reported
	• 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. •Vector NSAMT survey using 50m stations and 100m dipoles. The survey measures Ex and Hy (Tm component) and Ey and Hx (Te component). Frequencies 3 Hz to 10 KHz are stacked for 30 seconds. Frequencies 0.5Hz to 256HZ are stacked for 5 minutes. This measuring regime results in approximately 25-30 MB of time series data per station - resulting in a depth of investigation of approximately 700- 1,000m •A Zonge GDP 32 24bit receiver with Zonge ANT-6 high frequency coils are used to collect the data. A remote refence station is not used as the EM environment in Kalahari is extremely quiet and this is not necessary.
	• 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. •All geophysical equipment used on this project has been serviced by Jordi and Bennet in Johannesburg prior to the survey in December 2018 and January 2019. A 24-bit receiver has been used to ensure that the full dynamic range of signal emanating from spherics is captured.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. •All data is electronically stored with peer review of data processing and modelling •Data entry procedures standardized in SOP, data checking and verification routine. •Data storage on partitioned drives and backed up • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • _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. • A hand-held GPS is used for geophysical station locations with track logs and points plotted to check for consistency and accuracy during surveying. • Specification of the grid system used. • Quality and adequacy of topographic control.
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 •Data station spacing was based on geology and NSAMT method requirements

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	appropriate for the Mineral Resource and Ore Reserve	•	Sampling is deemed appropriate for the type of survey and
	estimation procedure(s) and classifications applied.		equipment used.
	• Whether sample compositing has been applied.
Orientation of data in relation	• Whether the orientation of sampling achieves unbiased	•	NSAMT Survey was completed on one 14.5km long line
to geological structure	sampling of possible structures and the extent to which		with spacing deemed optimal for level of exploration results
	this is known, considering the deposit type.		reported
	• If the relationship between the drilling orientation and the	•	No drilling is being reported
	orientation of key mineralised structures is considered to
	have introduced a sampling bias, this should be assessed
	and reported if material.
Sample security	• The measures taken to ensure sample security.	•	All readings/geophysical measurements collected and
			stored on computer. Data was transferred on USB and sent
			by courier from collection point to processing point. All
			readings/geophysical measurements collected and stored
			on computer with backup data transported by courier.
Audits or reviews	• The results of any audits or reviews of sampling	•	All sampling procedures are documented and according to
	techniques and data.		industry standard practice.
		•	No drilling is being reported

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 NSAMT Survey was carried out over the Otjari Domal Prospect area which lies within EPL7049, granted to Trans Kalahari Copper Namibia and wholly owned by Kopore Metals • EPL7049 is 936.3km2in size, was granted on 1stJuly 2018 for three years and is due to be renewed on 30thJune 2021
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	Limited previous exploration on EPL7049 was undertaken and consisted of soil sampling and shallow percussion drilling.

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Criteria	JORC Code explanation	Commentary
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
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.	No drilling is being reported
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.	No drilling is being reported NSAMT geophysical survey – 1 x 14.5km grid lines NSAMT readings/measurements collected over 6 minutes per station
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	No drilling is being reported

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Criteria	JORC Code explanation	Commentary
	width not known’).
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 are included in the body of the accompanying announcement.
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 avoiding 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.	Reprocessing of historic Namibian Geological Survey airborne geophysics was completed over portions of the Namibian Central Kalahari Copper Belt
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 diamond drilling campaign and ongoing geological re-interpretation together with the re-processed Government aeromagnetic and ongoing ground geophysical surveys

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