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ADDRESS PHONE PO Box 7996 +61(07) 5592 2274 Gold Coast Mail Centre FAX Qld 9726 Australia +61 (07) 5592 2275 EMAIL ABN 54 126 490 855 [email protected] WEBSITE www.coppermoly.com.au

ASX Announcement

14[th] March 2008

ALLOTMENT OF SECURITIES

The Directors advise that a total of 700,000 unlisted options, exercisable at 25 cents between 13 March 2009 and 13 March 2011, were today issued to 3 employees. The options have been issued in accordance with the Coppermoly Ltd Employee Incentive Option Scheme.

A further 1,000,000 unlisted options, exercisable at 25 cents between 13 March 2009 and 13 March 2011, were issued in lieu of payment for Geological Consultancy services for the period 2 February 2008 to 2 February 2010.

An Appendix 3B form (New issue announcement, application for quotation of additional securities and agreement) detailing the issue is attached.

Yours faithfully, COPPERMOLY LTD

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Garry M. Edwards Company Secretary

Encl.

kc/ge/038.08

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

COPPERMOLY LTD

ABN

54 126 490 855

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be OPTIONS issued 2 Number of[+] securities issued or to 1,700,000 be issued (if known) or maximum number which may be issued

3 Principal terms of the[+] securities NON TRANSFERABLE, UNLISTED (eg, if options, exercise price and OPTIONS TO PURCHASE ONE ORDINARY expiry date; if partly paid + SHARE PER OPTION AT AN EXERCISE securities, the amount outstanding and due dates for payment; if PRICE OF 25 CENTS BETWEEN 13 MARCH +convertible securities, the 2009 AND 13 MARCH 2011. conversion price and dates for conversion)

See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 1

Appendix 3B New issue announcement

4 Do the+securities rank equally in all respects from the date of allotment with an existing+class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering+securities into uncertificated holdings or despatch of certificates 8 Number and+class of all+securities quoted on ASX (_including_the securities in clause 2 if applicable) 9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	NO. THE SECURITIES WILL RANK EQUALLY ONLY UPON CONVERSION TO ORDINARY SHARES.	NO. THE SECURITIES WILL RANK EQUALLY ONLY UPON CONVERSION TO ORDINARY SHARES.

	NIL.

	700,000 OPTIONS IN ACCORDANCE WITH EMPLOYEE INCENTIVE OPTION PLAN. 1,000,000 OPTIONS IN LIEU OF PAYMENT FOR GEOLOGICAL CONSULTANCY SERVICES.

	14 MARCH 2008

	Number	+Class
	REFER ATTACHED SCHEDULE.

	Number	+Class
	REFER ATTACHED SCHEDULE.

	NO DIVIDEND DISTRIBUTION IS ENVISAGED IN THE NEAR FUTURE.

See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 2

Appendix 3B New issue announcement

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue

See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 3

Appendix 3B New issue announcement

24	Amount of any handling fee
	payable to brokers who lodge
	acceptances or renunciations on
	behalf of+security holders
25	If the issue is contingent on
	+security holders’ approval, the date
	of the meeting
26	Date entitlement and acceptance
	form and prospectus or Product
	Disclosure Statement will be sent to
	persons entitled
27	If the entity has issued options, and
	the terms entitle option holders to
	participate on exercise, the date on
	which notices will be sent to option
	holders
28	Date rights trading will begin (if
	applicable)
29	Date rights trading will end (if
	applicable)
30	How do+security holders sell their
	entitlements_in full_through a
	broker?
31	How do+security holders sell_part_
	of their entitlements through a
	broker and accept for the balance?
32	How do+security holders dispose
	of their entitlements (except by sale
	through a broker)?
33	+Despatch date

See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 4

Appendix 3B New issue announcement

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one )

(a) � Securities described in Part 1

(b)[All other securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

37 A copy of any trust deed for the additional[+] securities

See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

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38 Number of securities for which
+quotation is sought
39 Class of +securities for which
quotation is sought
40 Do the [+] securities rank equally in all
respects from the date of allotment
with an existing [+] class of quoted
+securities?
If the additional securities do not
rank equally, please state:
• the date from which they do
• the extent to which they
participate for the next dividend,
(in the case of a trust,
distribution) or interest payment
• the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest payment
41 Reason for request for quotation
now
Example: In the case of restricted securities, end of
restriction period
(if issued upon conversion of
another security, clearly identify that
other security)
Number +Class
42 Number and [+] class of all [+] securities
quoted on ASX ( including the
securities in clause 38)
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See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 6

Appendix 3B New issue announcement

Quotation agreement

1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.
There is no reason why those[+] securities should not be granted[+] quotation.
An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.
If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ............................................................ Date: 14 March 2008 ( ~~Director~~ /Company secretary)

GARRY M. EDWARDS

Print name:

.........................................................

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See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 7

APPENDIX 3B – ASX LISTING RULES