BARYS RESOURCES LIMITED — Capital/Financing Update 2020

May 26, 2020

ASX RELEASE | 27 May 2020

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

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

NAMIBIAN SALE TO SANDFIRE COMPLETED

Kopore Metals Limited (ASX:KMT) ( Kopore or the Company ) is pleased to announce that it has today completed the sale of its Namibian licenses to a subsidiary of Sandfire Resources Ltd (ASX:SFR) ( Sandfire ) (see ASX announcement 1 May 2020).

Kopore has received the total consideration of A$2 million, comprising of A$1 million cash and 222,366 fully paid ordinary shares in Sandfire.

Additional deferred consideration may be payable to Kopore if Sandfire reaches a “Decision to Mine”, based upon the following Ore Reserve thresholds on a contained copper basis:

• Ore Reserve of >300kt but 500kt Cu A$1.5 million

• • Ore Reserve of > 500kt Cu A$3.5 million

The consideration puts Kopore in a strong cash position to commence exploration on its fourteen retained prospecting licences in Botswana with a total landholding of approximately 8,126km[2] .

The Government of Botswana has recently announced a phased approach to the removal of various COVID-19 restrictions and the Company is planning its next exploration programs in Botswana.

Authorised by the Board of Kopore Metals Limited.

FOR FURTHER INFORMATION PLEASE CONTACT:

SIMON JACKSON

Managing Director Kopore Metals Limited Tel. +61 8 9322 1587 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 emerging world class Kalahari Copper Belt, located in the Republic of Botswana.

Kopore continues to explore for stratabound copper-silver deposits across its fourteen 100% owned prospecting licenses in Botswana with a total area of 8,126km[2] of 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 complementary experience with over 20 years’ of Australian and International technical, legal and executive experience in exploration, resource development, mining, legal and resource fields.

Botswana is a stable, pro-mining jurisdiction, supportive of mineral exploration and development. According to the 2019 Fraser Institute Annual Mining Survey[3] , Botswana was ranked 3rd for “investment attractiveness” in Africa, in addition to being ranked 45[th] globally.

3 Fraser Institute Annual, Survey of Mining Companies 2019

https://www.fraserinstitute.org/sites/default/files/annual-survey-of-mining-companies-2019.pdf

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