COPPERMOLY LIMITED — Regulatory Filings 2009

Aug 26, 2009

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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

MEDIA RELEASE

BOARDROOM RADIO INTERVIEW WITH MANAGING DIRECTOR

Thursday 27[th] August 2009:

Coppermoly Limited is pleased to advise that the Company’s Managing Director, Mr Peter Swiridiuk, has participated in an interview with Tom McKay of Boardroom Radio.

In the interview Mr Swiridiuk discusses the Company’s Simuku Project Conceptual Mining Study. The transcript follows or you can listen to the interview over the internet through the following link: http://www.brr.com.au/event/59745

“ Tom McKay: Today on Boardroom Radio I have Mr Peter Swiridiuk, who’s the Managing Director at Coppermoly Limited. Peter, welcome back to Boardroom Radio and thank you very much for your time.

Peter Swiridiuk: Thanks, Tom. It’s good to catch up with you again.

Tom McKay: Peter, you’ve just completed a conceptual mining study for your 90 per cent-owned Simuku project in Papua New Guinea. What was the specific purpose of the study and what was revealed?

Peter Swiridiuk: Yes. Well, Tom, the conceptual mining study was completed to assist us in planning the future direction of the project. Basically, we have to ask ourselves, “Are these large tonnage porphyry systems worth pursuing?” During our IPO we raised enough funds to help bring one of our projects to the stage of pre-feasibility, or that was our objective and we have achieved that at Simuku. We completed enough drilling to estimate a maiden Inferred Resource of the system of 200 million tonnes grading 0.47 per cent copper equivalent*. Now, there’s significant amounts of information available out there from other mining studies from other similar projects in Papua New Guinea that we were able to utilise and apply to Simuku to get an idea of the capital and operating costs if this thing ever went into production. Now, with a number of assumptions built in, such as recovery of the metal and the amount of wastes compared to the amount of ore once a mining operation had started, the conceptual mining study reveals that the project may well be viable with further drilling to define tonnages of high-grade concentrations of copper.

Tom McKay: Peter, how pleased were you with the results and how did they measure up in terms of your expectations?

Peter Swiridiuk: Well, we were pleased that there’s a lot of information out there which we could use and, at a relatively low cost, we were able to get some answers as to whether we should progress with this project. Now, we have estimated the resource so far in only one-third of the copper system, and that’s been defined from surface bulldozer trenching, so there’s quite a large part of the system still yet to be defined and an estimated resource expanded on. Now, being so close to an operating deep-water port, we are happy that the conceptual mining study confirms our original idea that, with more drilling, we could well progress to further feasibility studies.

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Tom McKay: Peter, what needs to be done before you can progress to the feasibility study?

Peter Swiridiuk: Tom, within our maiden resource of 200 million tonnes, there is a higher-grade copper resource with a higher-grade cut-off of 80 million tonnes grading 0.6 per cent copper equivalent and that consists of 0.44 per cent actual copper. The rest of the other metals making up that equivalent are molybdenum, gold and silver. More importantly, during our drilling, we have also encountered near-surface copper enrichment of almost double the primary grade of 0.7 to 0.8 copper – actual copper, not copper equivalent – and that copper is in a form that may well be easier and cheaper to extract. Our next stage of drilling will help us estimate this new surface resource of high-grade material and we only need – the conceptual mining study indicated that we only need - a relatively small tonnage of this stuff, say, about 7 million tonnes, to enable us to progress to feasibility. And the study indicates, once we have that resource defined and further metallurgical studies completed, it may well be viable in about three years’ time at the completion of that feasibility study. Now, this is a large project and we are currently in the middle of a rights issue to raise capital to help us do further drilling and also, given that it’s such a large project, we are having joint venture discussions and site visits with quite a number of larger companies which, if the right deal came along, that may be a more attractive way to help us achieve the objective of bringing this project to a stage of feasibility.

Tom McKay: Peter, we really appreciate your time. Thank you.

Peter Swiridiuk: Okay. Thanks, Tom. ”

For further information please contact Peter Swiridiuk on (07) 5592 1001 or visit www.coppermoly.com.au.

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