BARYS RESOURCES LIMITED — Capital/Financing Update 2019

Mar 12, 2019

ASX RELEASE | 13 March 2019

DRILLING TO COMMENCE IMMEDIATELY AT THE ONGAVA DOMAL PROSPECT IN NAMIBIA

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

HIGHLIGHTS

• Ongava Domal Prospect ground geophysical survey identifies multiple structural targets close to surface (50-300m)

• Interpreted ‘intact’ subsurface domal targets to be immediately drill tested

• Mobilising RC rig is being diverted from Omenye Domal Prospect to Ongava Domal Prospect

PETER MEAGHER Non-Executive Chairman

GRANT FERGUSON Managing Director SHANNON COATES Non-Executive Director SIMON JACKSON Non-Executive Director

DAVID CATTERALL Exploration Manager

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

Kopore Metals Limited (ASX: KMT, “Kopore” or the “Company”) is pleased to announce that the second Natural Source Audio Magneto-Telluric (NSAMT) geophysical survey has been completed at the Company’s highest priority Ongava domal copper-silver prospect, located in the Republic of Namibia.

The Ongava Domal Prospect NSAMT survey has identified immediate drill targets from near surface to depths of 300m and has provided an interpretation of the overall geological architecture at the prospect, to approximately 1km depth.

The high priority Ongava Domal Prospect is approximately 34km in strike length. The Ongava Domal Prospect was interpreted from magnetics as a shallow near surface dome, with interpreted coincident thrust faulting, believed to be important to potential mineralisation trap sites. The NSAMT survey results indicate this highly likely with the targeted D’Kar/Ngwako Pan contact appearing to be developed at much shallower depths than in the nearby Omenye Domal Prospect.

Accordingly, the Company has redirected the currently mobilising RC rig to the Ongava Domal Prospect. An initial 2,000m RC drilling program will commence across the identified targets. Based upon the results of the initial drilling, the Company will consider a larger RC and Diamond drilling program.

The survey comprised an initial 12-line km of 50m spaced NSAMT data that was acquired by Namibian based Gregory Symons Geophysics (GSG) along two north-west to south-east orientated, 8km space survey lines over the Ongava Domal Prospect (Figure 1).

Managing Director Grant Ferguson stated:

“The NSAMT geophysical method has provided the Company with such compelling geological information at the Ongava dome, a currently mobilising RC drill rig is being diverted from the Omenye Domal Prospect to the Ongava Domal Prospect.

The Ongava Domal Prospect survey results indicate the potential target horizons are close to surface, and given the dome has a strike length of 34km, an impressive level of blue-sky potential to explore.”

ASX RELEASE | 13 March 2019

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Figure 1 - Ongava Domal Prospect - Magneto-Telluric Ground Geophysical Lines

The continued results of this NSAMT survey method confirms the Company’s view that this ground geophysical method is applicable for the Kalahari Copper Belt. The NSAMT ground geophysical method continues to provide a better understanding of the geological and structural settings and is a stratigraphic targeting tool for the Ngwako Pan/D’Kar Formation contact position. This contact zone is known to host copper/silver mineralisation across the Kalahari Copper Belt.

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Figure 2 - Ongava Domal Prospect Cross Section A-B with Interpreted Geology and Planned Drilling – Line 3

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ASX RELEASE | 13 March 2019

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Figure 3 - Ongava Domal Prospect Cross Section C-D with Interpreted Geology and Planned Drilling – Line 4

FOR FURTHER INFORMATION PLEASE CONTACT:

GRANT FERGUSON Managing Director

Kopore Metals Limited Tel. +61 3 9867 7199 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 #3[rd] and #6[th] respectfully for “investment attractiveness” in Africa, in addition to their highly ranked global position.

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ASX RELEASE | 13 March 2019

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.

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:

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.

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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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ASX RELEASE | 13 March 2019

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 50m 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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ASX RELEASE | 13 March 2019

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 | 13 March 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 50m 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 December2018 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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ASX RELEASE | 13 March 2019

	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 2 x 6km long grid lines
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 Ongava Dome Project area which lies within EPL7055, granted to Trans Kalahari Copper Namibia and wholly owned by Kopore Metals • EPL7055 is 99698 hectares in 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 EPL7055 was undertaken and consisted of soil sampling

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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 – 2 x 6km 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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ASX RELEASE | 13 March 2019

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 RC drilling campaign and ongoing geological re-interpretation together with the re-processed Government aeromagnetic and ongoing ground geophysical surveys

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