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TECHNICAL REPORT – QUARTER ENDED 30 SEPTEMBER 2011

HIGHLIGHTS

- Copper mineralisation intersected to over 1,000 metres depth has demonstrated a significant increase in tonnage potential at Simuku.

- The second diamond hole at Simuku during 2011 was completed to 686.4 metres Depth. Assays are pending.

- Drill pad preparation has begun at the Rapili/Rapisme Prospect at Kulu.

- Drillhole BWNBDD0013 tested the Nakru-1 Geophysical Induced Polarisation anomaly at depth, intersecting volcaniclastic breccia with quartz, pyrite and copper sulphides.

- Drillhole BWNBDD0017 completed to test the coincident Induced Polarisation geophysical anomaly and gold-copper wacker drilling bedrock geochemistry.

- Coppermoly signs an Agreement to farm-in to copper-gold projects in South-East Queensland, Australia.


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