COPPERMOLY LIMITED — AGM Information 2016

Nov 29, 2016

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ADDRESS PHONE PO Box 6965 +61 (07) 5510 3994 Gold Coast Mail Centre FAX Qld 9726 Australia +61 (07) 5510 3997 EMAIL info@coppermoly.com.au ABN 54 126 490 855 WEBSITE www.coppermoly.com.au

ASX Announcement

30 November 2016

ASX Code: COY

CHAIRMAN’S ADDRESS – 2016 ANNUAL GENERAL MEETING

Ladies and Gentlemen,

Welcome to Coppermoly Ltd’s ( Coppermoly or the Company ) 2016 AGM. Since our last AGM 12 months ago we have raised $2.5 million from a new investor and commenced a major drilling campaign at the Company’s most advanced project, the Mt Nakru copper-gold project.

Coppermoly now has three exploration licences, all of them located on New Britain Island in PNG. Our flagship exploration tenements are Mt Nakru and Simuku, both located in West New Britain. Our other tenement is Powell which is located in East New Britain. Coppermoly has maintained its operating base in Kimbe on New Britain Island and has continued its strong local community relations activities.

On 21 January 2016 Coppermoly entered into a placement agreement with Ever Leap Services Limited to raise a total of $2,500,000 (before costs) by way of an upfront placement of 57,750,000 shares issued at $0.004 (0.4 cents) per share and a subsequent issue of 317,250,000 shares, at an issue price of $0.004 per share, and 250,000,000 Deferred Options and 83,333,333 Attached Options, at an issue price of $0.004 per Deferred Option (see ASX announcements dated 21 & 28 January 2016 and 11 April 2016 for further details).

On 13 October 2016 we announced that we had signed an agreement with international drilling contractor Quest Exploration Drilling ( QED ) to carry out an exploration drilling program at the Mt Nakru copper-gold project. The project area hosts two known mineralisation zones: Nakru 1 and adjacent Nakru 2 prospects, where past drilling has intersected high grade near-surface copper mineralisation.

The drilling program agreement provides for the drilling of 15 HQ diamond drill holes for a total of 2,730 metres. The 15 drill holes are planned to be infill drilling to define the extension of mineralisation systems at both Nakru 1 and Nakru 2. The drilling program will focus on identifying a commercially viable resource close to surface. It will also attempt to increase the current JORC status from a pre-2012 JORC Code inferred category to an indicated resource under the 2012 JORC Code.

To cite my fellow director, Dr Wanfu Huang:

“This drilling program marks the restart of substantive ground exploration on the Company’s key copper and gold exploration tenement. We are delighted to have engaged such a well credentialed and locally experienced operator as QED.

The drill program will provide further data to enhance our understanding of the mineralisation systems in the project area, and advance our knowledge about the economic potential of ore bodies at Nakru.”

The onsite camp has now been fully established and drilling at Nakru 1 has commenced with the first two holes progressing well. Copper mineralisation has been observed in both holes. Penetration rates are improving as the drillers become more familiar with the ground conditions.

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Coppermoly Ltd

2016 Annual General Meeting

Chairman’s Address

Work on the Simuku tenement, which comprises the Simuku porphyry, Kula alteration zone and Mt Misusu quartz stockwork, has been limited to a review of previously collected data. This style of mineralisation is typically large and lower grade. The Company anticipates performing more substantial work on the Simuku tenement in the next 12 months.

As announced yesterday, the Company received notification from the PNG Mineral Resources Authority ( MRA ) that renewal applications for exploration licences EL 2014 and EL 2272 have been refused by the MRA. The Company is disappointed with this decision even though these tenements have not been a focus for exploration efforts of the Company.

The Company was surprised by the refusals to renew the two licences as it had no prior indications from the MRA that the exploration licences wouldn’t be renewed, particularly after recently holding very successful Warden’s Hearings for both licences. The Company will now assess whether it reapplies for the land on or around these two licences or continues to concentrate its efforts on its key tenements, Mt Nakru and Simuku. The Company still holds a current licence for EL 1782 Powell.

The Company is still on the lookout for good value adding opportunities to pair with major mining companies to better exploit our exploration assets and increase shareholder value.

I would like to take this opportunity to thank all shareholders who have continued to support the Company and the Company’s employees and other stakeholders for their ongoing contributions and commitment.

Our objectives remain to:

• Strive to realise the full value of all of Company’s assets over time;

• Focus on the Company’s mission to deliver shareholder value;

• Resource the Company with good technical specialists at both board and management level;

• Gain better understanding of our exploration targets;

• Raise sufficient funds to undertake focused exploration programs;

• Keep the Company’s tenements in good standing;

• Continue the good relationships with the local stakeholders; and

• Implement best practice safety and environmental measures.

Kevin Grice Non-executive director (AGM chair)

About Coppermoly

Coppermoly (COY) is an ASX listed junior exploration company which has been listed on the ASX since 2008. Coppermoly’s mineral exploration activities are focused entirely on the island of New Britain in PNG where it exploring for copper, gold, silver, zinc, and molybdenum.

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