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TECHNICAL REPORT – QUARTER ENDED 30 JUNE 2011

HIGHLIGHTS

- Drilling currently underway at Simuku to over 900m depth in order to test for tonnage potential beneath the Inferred Resource.

- Mapping and rock sampling programme confirms copper mineralisation at the Kulu and Rapilli prospects.

- Two diamond drillholes have been completed at the Nakru-1 prospect with preparations underway for further drilling to test the eastern extents of copper mineralisation.

- Nakru-4 Wacker soil sampling confirms historical anomalous copper results.

- Coppermoly currently reviewing additional copper and gold projects for possible acquisition.


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