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COPPERMOLY LIMITED Capital/Financing Update 2008

Jan 21, 2008

64690_rns_2008-01-21_0cb8559d-53db-4d97-8562-23540bf5f8d4.pdf

Capital/Financing Update

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ADDRESS PHONE PO Box 7996 Gold Coast Mail Centre FAX Qld 9726 Australia

+61(07) 5592 2274 FAX +61 (07) 5592 2275 EMAIL [email protected] WEBSITE www.coppermoly.com.au

ABN 54 126 490 855

22 January 2008

COPPERMOLY IPO OFFER CLOSED

The directors are pleased to advise that the IPO offer dated 25 October 2007 has closed.

The offer has raised approximately $8.1million, (a final figure will be advised when overseas currency transfers have been finalised). Shares will be allotted without delay.

The Company anticipates being admitted to the Official List of ASX by 24 January 2008, with trading of the Company’s shares to commence on a date shortly after that.

The Company acknowledges the support provided by investors in the current volatile market.

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Garry Edwards Company Secretary

Kc/ge015.08