COPPERMOLY LIMITED — AGM Information 2008

Nov 17, 2008

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ADDRESS PHONE PO Box 6965 +61 (07) 5592 1001 Gold Coast Mail Centre FAX Qld 9726 Australia +61 (07) 5592 1011 EMAIL ABN 54 126 490 855 info@coppermoly.com.au WEBSITE

ASX Announcement

18[th] November 2008

ASX Code: COY

CHAIRMAN’S ADDRESS - COPPERMOLY LIMITED ANNUAL GENERAL MEETING

A brief review of the financial year ended 30 June 2008 confirms the fact that the Company has made a dynamic and successful beginning.

Having raised just over $8 million the Company was admitted to the official list of the ASX on 25 January 2008. The Company was floated on the promise of further exploration of two very well advanced exploration licences and it has fulfilled that promise.

Drilling at both Simuku and Mt Nakru commenced immediately after the Company floated, the Company’s exploration base in Kimbe on the island of New Britain in Papua New Guinea was established and the exploration and management teams were expanded and strengthened. By the end of the financial year almost $2 million had been spent on exploration and by the end of September a further $2 million had been directed into exploration.

At Simuku over 4,000 metres and at Mt Nakru 2,410 metres of diamond drilling have been completed. Extensive trenching, sampling and mapping have been completed on both tenements. At Mt Nakru a three dimensional ground geophysics induced polarisation survey has been completed and has further enhanced the potential tonnage and grade of this exciting exploration target.

Having completed the first eight months of its life fully engaged in its very active exploration programs the Company is now focused upon compilation and analysis of the full body of exploration data. Definition of a resource at Simuku and full compilation of Mt Nakru data is expected before March 2009.

Given the recent turmoil in the international financial markets your Company is in the fortunate position of having completed its first stage exploration plans on both of the licence areas and is now entering this analytical phase having conserved some cash.

The Board expects to be able to clearly demonstrate early in 2009 the success of the exploration that has been completed to-date. Coppermoly will, of course, be seeking to raise additional equity during 2009 and the Board expects that this will be achieved in the context of inviting shareholders to further participate in the Company’s early success. Coppermoly will also list on the Port Moresby Stock Exchange and will be seeking to develop a deep shareholder base in Papua New Guinea.

I would like to thank all of the Company’s shareholders for their interest and support. I would also like to thank all of the Directors, management and employees who have shown such commitment to the Company in its first year.

We look forward to a very exciting and successful future.

Yours faithfully,

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Peter McNeil Chairman

Kc/ps028.08

ANNUAL GENERAL MEEETING 19[th] NOVEMBER 2008

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• Corporate Overview

• Company Highlights

• Mt Nakru Copper-Gold Projects

• Simuku Copper-Molybdenum Project

• Summary

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	Corporate Overview 110,920,065 Fully Diluted Shares on issue $4.4M Market Cap – Fully Diluted 20,503,822 Listed Options (entitlement issue) COYO 83% Top 20 Shareholders $2.74M Cash at Bank (November 2008) $3.3M Market Capitalisation 4 cents Share Price 8,400,955 Unlisted Options (Director’s and Employees) 82,015,288 Shares on Issue Code: COY Listed on ASX January 2008 (Raised $8M)

Peter McNeil – Non Executive Chairman , (26 years experience with 23 years in PNG). Managed exploration on projects since 1988.

Peter Swiridiuk – Managing Director, (18 years experience). Middle East, Mexico, PNG, Solomon Islands, Cyprus and Australian copper.

Bob McNeil – Non Executive Director , (46 years industry experience). Chairman of NGG, Frontier Resources and Golden Tiger Resources. Managerial exploration and mining expertise (Sinivit Gold Mine). Dal Brynelsen – Non Executive Director , CEO of Vangold Resources, Pacific Kanon Gold and Director of Griffin Mining. Strong North America connections, entrepreneurial skill.

Ces Iewago – Non Executive Director in PNG. Expertise in investment banking. Director of NGG.

Experienced On-Site Kimbe Geological Team

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Geological Team

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• Coppermoly holds title to two large and well defined copper/gold/molybdenum systems (Simuku and Mt Nakru)

• Coppermoly is in an excellent geological environment

• PNG hosts large copper/gold/molybdenum ore bodies and deposits

• Over 5,000 meters of drilling and 5km of trenching completed since ASX listing

• Resource calculation underway

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Papua New Guinea

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• Road access to two projects.

• Deep water port at provincial capital of Kimbe.

• Good local infrastructure and relatively easy logistics.

• Topography not extreme (200m to 800m elevation)

• Landowners work on projects

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New Britain – New Copper-Molybdenum Province

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Coppermoly Project Access Areas: Nakru

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Seven New Drill Holes in Nakru Drill & Trench Results 2008. Results await.

Twelve Historical Drill Holes

• 74m at 0.78% copper

• 94m at 0.43% copper and 0.46g/t gold

• 205m at 0.4% copper

Ten kilometers of trenching

• 23m at 1.43% copper

• 4m at 6.6% copper

• 205m at 0.8 g/t gold

• 55m at 4.79 g/t gold

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Nakru 1 and 2 Chargeability at 100m depth related to sulphide mineralisation

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Nakru 1 (right) and Nakru2 (left) 3D Geophysics

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Nakru-1 drillhole NAK17 semi-massive sulphides

Nakru-2 semimassive sulphides at 79m depth

Drilling Rig at Nakru-2

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Nakru Exploration Schedule February 2009 Commence Development Strategy January 2009 Review Exploration Strategy Moving Forward December 2008 Evaluate all results August 2008 Commence drilling September 2008 Geophysical surveys August 2008 Trenching begins June-August 2008 Set-up camps June 2008 Track access begins May 2008 Heavy machinery commissioned May 2008 Landowner negotiations completed Date Task

Coppermoly Projects: Simuku

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• Drill Results – 31 holes. Awaiting results from 6 holes

• 41m at 0.64% copper

• 93m at 0.69% Cu.Eq*

• 19m at 0.32% molybdenum

Trench Results – 25km

• 14m at 1.03% copper and 0.26 g/t gold

• 200m at 0.75% copper

• 117m at 0.74% Cu.Eq*

• • 87m around a horseshoe shape at 0.12% Mo

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1. 31 drill holes in total 2. Over 25kms of bulldozer trenching 3. Resource Calculation

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Simuku Camp Staff Meeting

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Simuku Exploration Schedule	Simuku Exploration Schedule	Simuku Exploration Schedule	Simuku Exploration Schedule
		Task	Date
		Staffing arranged	February 2008
		Heavy machinery and vehicles	March 2008
		commissioned
		Track access begins	March 2008
		Drilling/Trenching begins	April 2008
		Additional drilling rigs commissioned	June 2008
		Releasing assay information	July 2008 – February 2009
		Re-evaluate all information	December 2008
		Review Exploration Strategy Moving	February 2009
		Forward

• Large copper, gold and molybdenum systems

• Over 5000m of drilling and 5000m of trenching completed in 2008

• Excellent infrastructure

• Excellent Board and management team

• Looking to a resource compliant with JORC by February 2009

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The mineralisation at Simuku consists of copper, molybdenum, gold and silver.

• •The copper equivalent values for intersections, in addition to individual metal values, are quoted, as they provide the most meaningful comparisons between different drill holes and trenches. As metal prices change the copper equivalent value will change.

• •Notes:

• •*Copper Equivalent (Cu.Eq) is the contained copper, gold, silver and molybdenum that are converted to an equal amount of pure copper and summed (based on assays of mineralised rock and actual metal prices). It is used to allow interpretation of the possible theoretical ‘value’ of mineralised rock, without consideration of the ultimate extractability of any of the metals.

• •Copper Equivalent* herein is based upon metal prices of US$3.80/lb Cu, US$946/oz Au, US$33.60/lb Mo (57% MoO3 conc.) and US$18.28/oz Ag (15 July 2008).

• •Island Arc related porphyry copper – gold – molybdenum deposits such as Simuku typically recover contained Cu, Au, Mo and Ag (subject to metallurgical characteristics and prevailing metal prices).

• •The ASX requires a metallurgical recovery be specified for each metal, however, no testwork has ever been undertaken at Simuku and recoveries can only be assumed to be typical for Island Arc porphyry copper – gold – molybdenum – silver deposits.

• •It is the Company’s opinion that each of the elements included in the metal equivalents calculation has good potential to be recovered if the project proceeds to mining.

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This document is not a disclosure document nor does it constitute the provision of financial product advice. No representation or warranty is made as to the accuracy, completeness or reliability of the information.

The information is provided expressly on the basis that recipients will carry out their own independent inquiries into the matters contained herein and make there own independent decisions about the affairs, financial position or prospects of the Company which reserves the right to update, amend or supplement any information at any time in its absolute discretion.

Please consult Coppermoly Limited for more detailed information.

November 2008

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• The information in this presentation that relates to Exploration Results is based on information compiled by Peter Swiridiuk, who is a Member of the Australian Institute of Geoscientists. Peter Swiridiuk is employed by Coppermoly Ltd.

• Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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