COBRE LIMITED — Interim / Quarterly Report 2021

Feb 1, 2021

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Cobre Limited A.C.N. 626 241 067 ( ASX: CBE Level 7/151 Macquarie Street SYDNEY NSW 2000 Tel: + 61 2 9048 8856 www.cobre.com.au

2 February 2021

ASX Limited - Company Announcements Platform

Update to Quarterly Activities Report

_______________

Cobre Limited (ASX: CBE , Cobre or Company ) refers to its Quarterly Activities Report lodged with the ASX on 29 January 2021 and, for the purposes of ASX Listing Rule 5.3.1, provides the following breakdown of the exploration expenditure of $472,740 incurred across the quarter referred to in section 3.4.

Perrinvale Project	Expenditure
Geological activities	$116,034
Drilling	$118,475
Sample analysis	$28,419
Geophysics	$49,246
Field supplies and equipment	$61,090
Total	$ 373,264
Sandiman Project
Geophysics and Geological activities	$ 99,476
Total Exploration Expenditure	$ 472,740

In accordance with ASX Listing Rule 5.3.5 and as noted in section 6 of the Appendix 5B, payments of $136,000 were made during the quarter comprising salaries and fees for the Company’s executive and non-executive directors as well as an amount of $6,000 for marketing services as disclosed in section 11.5 of the Company’s Prospectus. No other payments were made to any related parties of the entity or their associates.

This ASX release was authorised on behalf of the Cobre Board by: Martin C Holland, Executive Chairman and Managing Director.

For more information about this announcement:

Martin C Holland

Executive Chairman and Managing Director

holland@cobre.com.au