COPPERMOLY LIMITED — AGM Information 2014

Nov 23, 2014

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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 info@coppermoly.com.au ABN 54 126 490 855 WEBSITE www.coppermoly.com.au

ASX Announcement

24 November 2014

ASX Code: COY

CHAIRMAN’S ADDRESS – ANNUAL GENERAL MEETING

Ladies and Gentlemen,

Coppermoly Ltd currently has six exploration licences granted, all on the island of New Britain in PNG. Our flagship exploration tenement is Mt Nakru and the other tenements are Simuku, Talelumas, Makmak, Powell, and Wowonga. Coppermoly still maintains its operating base in Kimbe and has continued its strong local community relations activities.

During the past year our exploration efforts have been constrained by our limited funds but we have once again shown that when we do implement our exploration plans we can produce excellent results. I refer to the drill program the Company undertook on our Nakru 2 prospect in March & April 2014 which resulted in mineralised downhole intervals of up to 63 metres at greater than 1% copper starting from the surface and including a 23 metre interval grading of more than 2% copper (please see the ASX announcement dated 16 May 2014). This result was achieved with limited financial resources and gives some indication of the results we can expect when we can execute a properly funded exploration program.

Also during the year we managed to negotiate a better outcome for the agreement the Company has with Barrick (PNG Exploration) Ltd ( Barrick ), considering the current capital raising environment we continue to find ourselves in. The agreement with Barrick is for the restoration of 100% ownership of our Nakru, Simuku and Talelumas tenements. The revised agreement allows the Company to issue securities for the balance of the second payment due under the agreement and pushes back the final payment to Barrick until 6 months after commercial production commences on any of the three tenements. As a concession to Barrick for the deferral of the final payment that payment is now $4.5 million.

We continue to promote ourselves to a number of mid tier explorers and professional investors in an effort to raise capital funds. It is generally acknowledged that our tenements have good prospectivity. Once further funds are raised our plan is to concentrate our immediate efforts on the Company’s most advanced project, the Mt Nakru tenement, which includes the Nakru 1 and adjacent Nakru 2 prospects where drilling in 2014 intersected high grade near-surface copper mineralisation. The exploration effort will be expanded to other targets on the Nakru tenement.

An internal review conducted in late July 2014 also produced a short list of regional targets as candidates for our next field work, subject to a data review. These targets include Nakru 3, Nakru 4, Nakru 2 Northwest, Malolo Creek (all on the Nakru tenement), Mt Misusu (on the Talelumas tenement) and Pulding (on the Makmak tenement). The extent of the exploration effort will depend on the funds we can raise. The prime objective is to use whatever funds we raise to best add value to Coppermoly by exploration.

More detailed review and field work on the other tenements will be done once we have funds available.

It is the primary goal of all directors and employees of Coppermoly to realise the full value of its exploration assets and increase shareholder returns.

Since the last AGM there has also a reconfiguration of the Company’s board of directors and I would like take this opportunity to thank those directors that have resigned in that period for their past efforts. I would also like to thank all those shareholders who have continued to support the Company and the Company’s employees for their ongoing contributions and commitment.

Our objectives are:

• Raise sufficient capital funds to undertake a focussed exploration program based on good technical knowledge;

• Put as much funding as possible into ‘in the ground exploration’;

• Ensure we keep all of Coppermoly’s tenements in good standing;

• Continue to have good relationships with the local landowners; and

• Resource the company with experienced explorers at both board and management level.

Michael Howard

Non executive director (AGM chair)

About Coppermoly

Coppermoly’s mineral exploration activities are focused entirely on the island of New Britain in Papua New Guinea where it holds six exploration licences. These licences cover copper, gold, silver, zinc, molybdenum and iron mineralisation. The tenements are Nakru, Simuku, Talelumas, Makmak, Powell and Wowonga.