KING RIVER RESOURCES LIMITED — Capital/Financing Update 2014

May 22, 2014

ASX Announcement 23 May 2014

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----- Start of picture text ----- King River Phase 1 ExplorationUpdate----- End of picture text -----

King River Copper Limited (“King River” or “the Company”) (ASX: KRC) has noted today the increased interest and price movement of its shares.

The Company is not aware of any material information that has not been previously disclosed to shareholders.

The Company has not yet commenced drilling. The first drilling is planned to commence next Wednesday, May 28 at the shear zone on Chapman Hills, followed by a diamond drilling program at the Chapman outcrops.

The phase 1 drilling program will be spread over 7 different locations and is expected to take up to 6 weeks.

All drill core will be stored on site, then delivered to Perth early July for cutting and assaying.

Recent bulldozer work providing access to the 2 drill site locations at Chapman outcrops has exposed further copper carbonate (malachite) in quartz veins and breccias that has been lodged for assaying. Any assay results received that are viewed by the company to be material will be released on receipt.

The Chairman, Anthony Barton is also presenting the company to a large group of London investors in the evening of May 28.

There is no other information known to the company that could explain today's renewed interest and price movements in the company.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Ken Rogers and fairly represents this information. Mr. Rogers is the Chief Geologist and an employee of the Company and a member of the Australian Institute of Geoscientists. Mr. Rogers has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rogers consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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254 Adelaide Tce Perth WA 6000 PO Box Z5518, Perth WA 6831

PHONE: +61 (0)8 9221 8055 FAX: +61 (0)8 9325 8088 WEB: www.kingrivercopper.com.au