COPPERMOLY LIMITED — AGM Information 2011

Nov 14, 2011

==> picture [250 x 72] intentionally omitted <==

ADDRESS PHONE PO Box 7996 +61(07) 5592 2274 Gold Coast Mail Centre FAX Qld 9726 Australia +61 (07) 5592 2275 EMAIL ABN 54 126 490 855 info@coppermoly.com.au WEBSITE www.coppermoly.com.au

ASX Announcement

15 November 2011

ASX Code: COY

CHAIRMAN’S ADDRESS – ANNUAL GENERAL MEETING

Ladies and gentlemen,

I am pleased to report that Coppermoly Limited has had another successful year.

As described in the 2011 Annual Report the Company has continued to enhance its exploration prospects. It is very likely that Barrick will complete its earn-in to the Company’s three exploration licences in East New Britain in the very near future. Under the agreement Coppermoly can retain its 28% interest carried to completion of a Feasibility Study by delaying its cash contribution until the commencement of production from any of the three tenements covered under the agreement.

The Company also has three Exploration Licence Applications in place for additional tenements on New Britain Island. These areas are not included in the Barrick agreement. We have put considerable effort into progressing these applications towards approval. Current indications are that two of the applications may be granted before the end of 2011. The Company has maintained its operating base in Kimbe and continued to pursue its local community relations activities in preparedness for the recommencement of exploration activities on this new ground.

Coppermoly Limited also signed a joint venture agreement in October 2011 with ActivEx Limited, a Queensland based ASX listed company. The joint venture provides for the company to earn up to a 70% interest in a suite of Exploration Permits for Minerals in Queensland. The area of the Permits is collectively known as the Esk Trough Project. The first field trip by the joint venture partners will occur next week.

We have also broadened the shareholder base and expect to finish the year with at least $1.6 million in cash with the potential to add another $1.6 million depending upon the exercise of options on or before 1 December 2011.

So, in slightly less than four years since listing the Company has advanced its East New Britain Exploration Licences through the expenditure of around $30 million on exploration. It is now well positioned to both build upon its early exploration successes and also to expand its horizons.

Coppermoly is a proven well managed, highly successful explorer and is well prepared to continue to build a highly successful future.

On behalf of the Board I would like to thank all those shareholders who have continued to support the Company. I would also like to thank the Company’s employees for their ongoing contributions and commitment.

D. Brynelsen Chairman