COPPERMOLY LIMITED — Capital/Financing Update 2011

Nov 14, 2011

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

ASX Announcement

15[th] November 2011

ASX Code: COY

NOTICE OF EXPIRATION OF LISTED OPTIONS COYOA – EXPIRING 1 DECEMBER 2011

The 1 December 2011 Options issued by the Company are due to expire at 5.00pm Eastern Standard Time on 1 December 2011. In accordance with the terms and conditions of the option issue and the ASX Listing Rules the Company is required to give Option Holders notice before the expiry date.

Individual notices, including all information required by paragraph 6.1 of Appendix 6A of the ASX Listing Rules (as per the attached template) will be mailed to Option Holders today.

Yours faithfully

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M. Gannon Director & Company Secretary

Page 1 of 1

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

Date: 15 November 2011

Name/Address 1 Name/Address 2 Name/Address 2 Name/Address 3 Name/Address 5 Name/Address 6

Number of Options Held: Total Exercise Price: Number of Shares to be issued on exercise:

Expiry of 1 December 2011 Options ASX Code : COYOA

IMPORTANT NOTICE – EXPIRY OF $0.07 1 DECEMBER 2011 OPTIONS

Dear Option Holder

The 1 December 2011 Options issued by the Company are due to expire at 5.00pm Eastern Standard Time on 1 December 2011. In accordance with the terms and conditions of the option issue and the ASX Listing Rules, the Company is required to give you notice before the expiry date.

In accordance with the ASX Listing Rules the Company advises as follows:

1. The latest date for the exercise of the options and for payment of the exercise price is 1 December 2011 at 5.00pm Eastern Standard Time;

2. The exercise price of the options is $0.07 per option;

3. The consequence of non-payment of the exercise price is that the options will lapse;

4. The latest available market sale price of the Company’s shares on ASX prior to the date of letter was $0.064 per Share on 15 November 2011;

5. The highest and lowest market price of the Company’s shares during the three months prior to 15 November 2011 are set out below:

   • i. Highest: $0.09 per Share on 15 August 2011;

   • ii. Lowest: $0.05 per Share on 3 October 2011.

6. The last date of quotation of COYOA options on the Australian Securities Exchange will be 24 November 2011.

7. There is no underwriting agreement in existence in respect of the exercise of the Options.

Enclosed is a “ Notice of Exercise of Options Expiring 1 December 2011 ”. Should you wish to convert your COYOA options into Ordinary shares, complete the attached “ Notice of Exercise of Options Expiring 1 December 2011” form in full, sign it and send to the Company’s share registry with the appropriate remittance amount by cheque made payable to COPPERMOLY LIMITED and crossed “Not Negotiable”.

The Company’s share registry postal address is:

BoardRoom Pty Limited GPO Box 3993 Sydney NSW 2001

If you have any queries in relation to the above please do not hesitate to contact BoardRoom Limited on +61 2 9290 9600.

Yours faithfully

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Maurice Gannon Director & Company Secretary

Coppermoly Limited

TERMS OF OPTIONS

• (a) Each Option entitles the Option Holder to subscribe for one Share at $0.07 per Share.

• (b) The Options are exercisable at any time on or before 1 December 2011.

• (c) The Options may be exercised by the Option Holder delivering to the registered office of the Company, a notice of exercise signed by the Option Holder and a cheque payable to the Company for the aggregate exercise price.

• (d) An Option Holder may only exercise Options in multiples of 50,000 Options, unless the Option Holder exercises all Options able to be exercised by him or her at that time.

• (e) The exercise by an Option Holder of only some of the Options held by the Option Holder does not affect the Option Holder’s right to exercise at a later date other Options held by the Option Holder.

• (f) The Shares issued on the exercise of the Option will rank equally in all respects as from the date of issue of those Shares with all existing ordinary shares in the capital of the Company.

• (g) If an Option Holder fails to exercise any Options registered in the Option Holder’s name before 5.00pm on the 1 December 2011, those Options that the Option Holder has not exercised lapse and all rights of the Option Holder in respect of those Options cease.

• (h) If the Shares are listed on ASX, the Company will make application to ASX for Official Quotation of the Shares issued on the exercise of the Options.

• (i) There are no participating rights or entitlements inherent in the Options and Option Holders will not be entitled to participate in any new issue to Shareholders of the Company during the currency of the Options.

• (j) If there is any reorganisation of the capital of the Company including, without limitation, a consolidation or subdivision of any of the issued capital of the Company, or a pro rata bonus issue of Shares the Options must be reorganised in the way required under the Listing Rules.

• (k) The rights of the Option Holder may be changed to comply with the Listing Rules applying to a reorganisation of capital at the time of the reorganisation.

NOTICE OF EXERCISE OF OPTIONS EXPIRING 1 DECEMBER 2011

To: Coppermoly Limited C/- BoardRoom Pty Limited, GPO Box 3993, Sydney NSW 2001

• I / We…………………………………………………………………………………………………………………………………….………….. Name of Option holder/s (Please use block letters)

………………………………………………………………………………………………………………………………………….....................

Registered address of Option holder/s (Please use block letters)

hereby exercise my options to apply for ………………………………………………………………………………….………………………

[(number in words)][ (in figures)]

fully paid ordinary shares in the capital of Coppermoly Limited and I/we enclose my/our cheque for $............................................... in payment of such shares at $0.07 per option subscription. I/we request that you allot me/us on the share register the number of shares to which I am/we are entitled and I/we agree to accept such shares subject to the Company’s Constitution.

PLEASE SIGN HERE:

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