COPPERMOLY LIMITED — Capital/Financing Update 2016

Jan 27, 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

Date: 28 January 2016 ASX Code: COY

ALLOTMENT OF SHARES

Further to the announcement on 21 January 2016 Coppermoly Ltd ( Coppermoly ) is pleased to announce that it has completed the procedures for the allotment of the Initial Placement of 57,750,000 new fully paid ordinary shares in Coppermoly ( Shares ) to Ever Leap Services Limited ( Ever Leap ) to raise $231,000.

The placement is the first stage of a Placement Agreement with Ever Leap to raise a total of $2.5M.

SECTION 708A CORPORATIONS ACT CLEANSING STATEMENT

Coppermoly provides the following Cleansing Notice under Section 708A of the Corporations Act 2001 (Cth) ( Act ) in relation to the above allotment of Shares to Ever Leap.

In accordance with the requirements of section 708A (5)(e) of the Act, under which this notice is given, the Company confirms that:

1. As a disclosing entity, the Company is subject to regular reporting and disclosure obligations;

2. The shares issued are in the same class of ordinary shares as are quoted on the ASX;

3. The Company issued the shares without the disclosure to investors under Part 6D.2 of the Act, and that notification is being given under 708A (5)(e) of the Act;

4. As at the date of this notice:

   • a) the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and

   • b) the Company has complied with section 674 of the Act; and

5. As at the date of this notice there is no excluded information (as that expression is defined in sections 708A(7) and 708(8) of the Act) in relation to the Company.

On behalf of the Board.

Paul Schultz

Company Secretary Coppermoly Ltd

About Coppermoly

About Coppermoly: 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 .