COPPERMOLY LIMITED — Capital/Financing Update 2016

Oct 18, 2016

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ADDRESS PHONE PO Box 6965 +61 (07) 55103994 Gold Coast Mail Centre FAX Qld 9726Australia +61 (07) 55103997 EMAIL info@coppermoly.com.au ABN 54 126 490 855 WEBSITE www.coppermoly.com.au

ASX Announcement

19 October 2016

ASX Code: COY

EXTENSION OF CONVERTIBLE NOTES’ TERM

Coppermoly Ltd ( Coppermoly or the Company ) is pleased to announce that it has obtained agreement from Jade Triumph International Limited ( Jade Triumph ) to extend the maturity date for the Convertible Notes held by them for twelve months, extending their term so that the new maturity date is now 19 December 2017.

Each Convertible Note is convertible, at the option of the holder, into one new fully paid ordinary share on or before 5:00pm on the maturity date, unless repaid earlier, subject to such conversion not resulting in the holder breaching the Corporations Act 2001. There have been no other changes to the Convertible Notes other than the extension of the maturity date.

Coppermoly Non-executive Director, Dr Wanfu Huang, said:

“This extension to the maturity date of the Jade Triumph Convertible Notes is a welcome vote of confidence in the Company’s strategy and will allow us to concentrate our efforts and resources on the upcoming drilling program at Mt Nakru.”

On behalf of the Board.

Paul Schultz

Company Secretary Coppermoly Ltd

About Coppermoly

Coppermoly has been listed on the ASX since January 2008. Coppermoly’s mineral exploration activities are focused entirely on the island of New Britain in PNG where it holds five exploration licences. These licences cover copper, gold, silver, zinc, molybdenum and iron mineralisation. The five current tenements are Mt Nakru, Simuku (a newly consolidated licence combining old EL 1077 Simuku and EL 1445 Talelumas), Makmak, Powell and Wowonga .