COPPERMOLY LIMITED — Capital/Financing Update 2008

Jan 17, 2008

==> picture [249 x 70] 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

EXTENSION OF OFFER

The offer contained in the Prospectus dated 25[th] October 2007 has been extended to 24[th] January 2008.

The founding entities (New Guinea Gold Corporation and Vangold Resources) have agreed in principle to support the IPO to an extent which should ensure that it is successful. That support will be formalised as soon as possible and is aimed at providing existing investors with confidence to maintain their interest in the IPO and encourage additional investors to participate.

==> picture [98 x 65] intentionally omitted <==

Garry Edwards Company Secretary