COPPERMOLY LIMITED — Capital/Financing Update 2018

Nov 22, 2018

ADDRESS PHONE PO Box 5807 +61 (07) 3217 7544 Brisbane EMAIL Qld 4000 Australia info@coppermoly.com.au WEBSITE www.coppermoly.com.au ABN 54 126 490 855

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23 November 2018

NON-RENOUNCEABLE ENTITLEMENT OFFER

Coppermoly Limited ACN 126 490 855 ( Coppermoly; ASX: COY ) advises that the board of directors ( Board ) has resolved to undertake a non-renounceable pro-rata entitlement offer to raise up to $3,214,543 (before costs), whereby Eligible Shareholders (as defined overleaf) will be offered the opportunity to acquire one (1) new fully paid ordinary share in Coppermoly ( New Share ) for every three (3) fully paid ordinary shares in Coppermoly ( Shares ) held as at the Record Date at an issue price of $0.007 per New Share ( Offer ).

The issue price for the New Shares, is $0.007 per New Share, which represents a 42% discount to the closing price of Coppermoly’s Shares on the securities market operated by ASX Limited on 22 November 2018, being the last trading day prior to today’s date. The VWAP of Coppermoly’s Shares over 30 trading days up to and including 22 November 2018 was $0.012.

Eligible Shareholders will also be entitled to subscribe for any New Shares that are not taken up by other Eligible Shareholders in accordance with the Offer ( Shortfall Offer ).

An offer booklet in connection with the Offer and the Shortfall Offer ( Offer Booklet ) is attached and will be mailed to Eligible Shareholders in the coming days.

Further details regarding the Offer are contained overleaf.

On behalf of the Board.

Stephen Kelly Company Secretary and Chief Financial Officer Coppermoly Limited

Non-renounceable Offer

The Offer and the Shortfall Offer are open to Shareholders that are registered on Coppermoly’s register of members as at 7.00pm (AEST) on the Record Date as having a registered address in Australia, New Zealand, Hong Kong and in such other place that Coppermoly is satisfied (in its sole discretion) it would not be unlawful to extend the Offer and the Shortfall Offer ( Eligible Shareholders ).

The Offer is non-renounceable, meaning that Eligible Shareholders will not be able to transfer their entitlements pursuant to the Offer and if they do not subscribe for their entitlements pursuant to the Offer, will be diluted.

Eligible Shareholders will also be able subscribe for any New Shares that are not subscribed for by other Eligible Shareholders in accordance with the Shortfall Offer. Applications made pursuant to the Shortfall Offer will only be satisfied to the extent that there is a shortfall pursuant to the Offer and will be subject to the terms and conditions outlined in the Offer Booklet.

All of the Shares issued pursuant to the Offer and Shortfall Offer will rank equally with the existing Shares on issue from the date of allotment. Further details regarding the Offer and Shortfall Offer and the rights and liabilities attaching to the New Shares will be contained in the Offer Booklet in respect of the Offer.

Full details of the Offer, including the timetable and details for how to accept the Offer, will be set out in the Offer Document which the Company expects to lodge with ASX Limited on or about 23 November 2018. Eligible Shareholders should read the Offer Booklet in its entirety and consult with their stockbroker, accountant or other professional adviser before making any decision as to whether to subscribe for New Shares.

Use of funds

The funds raised from the Offer and Shareholder Shortfall Offer will be used to:

• (a) undertake additional exploration activity on Coppermoly’s Exploration Licences during the 2019 calendar year, including:

• i. resource modelling, target generation and extension drilling on Coppermoly’s Mt Nakru Exploration Licences; and

• ii. target generation on Coppermoly’s Simuku Exploration Licence; and

• (b) fund other general working capital and expenses of the Offer during the 2019 calendar year.

Timetable

The current proposed timetable for the Offer is set out below. These dates are indicative only and Coppermoly reserves the right to vary these dates (subject to the Corporations Act and the ASX Listing Rules).

Announcement of Offer and Appendix 3B lodged with ASX	Friday, 23 November 2018 (Before Market Open)
Notice sent to Eligible and Ineligible Shareholders regarding Offer	Monday, 26 November 2018
Shares quoted on an 'ex-basis’	Tuesday, 27 November 2018
Record Date for determining Entitlements	Wednesday, 28 November 2018
Offer Booklet and Application Form dispatched to Eligible Shareholders	Monday, 3 December 2018
Last date to extend the Closing Date of the Offer and Shortfall Offer	Friday, 7 December 2018
Closing Date for applications in accordance with the Offer and Shortfall Offer	Wednesday, 12 December 2018
Expected commencement of trading of New Shares on a deferred settlement basis on ASX	Thursday, 13 December 2018
Latest date for advising ASX of subscriptions received for the Offer and Shortfall Offer	Monday, 17 December 2018
Issue date and deferred settlement trading ends	Wednesday, 19 December 2018
Normal trading of New Shares re-commences	Thursday, 20 December 2018
Holding statements dispatched to successful Applicants	Thursday, 20 December 2018