Coppermoly 2008 Announcements

ASX Announcements 2008

	Simuku Copper Boundaries Expanded	10 December, 2008
	Coppermoly Limited Commences Trading on the Port Moresby (PNG) Stock Exchange	8 December, 2008
	Results of Coppermoly AGM	19 November, 2008
	Chairmans Address and Presentation	18 November, 2008
	COY Change of Chairman	18 November, 2008
	90M AT 1.08g/t Gold and 204ppm Molybdenum Intersected in Trench at Nakru	03 November, 2008
	CES IEWAGO appointed Director	03 November, 2008
	Quarterly Technical Report September 2008	31 October, 2008
	Appendix 3B - Amendment	23 October, 2008
	Release of Securities from Escrow	22 October, 2008
	Copper and Gold Mineralisation at Nakru Coincides with Large Geophysical Anomaly	17 October, 2008
	Notice of Annual General Meeting	17 October, 2008
	Release of Restricted Securities	08 October, 2008
	Intersection of Massive Copper Sulphide at Nakru-1, Potential for Significant Copper-Gold Mineralisation at Nakru-2	02 October, 2008
	Annual Report for Year Ended 30 June 2008	26 September, 2008
	Nakru Drilling in Progress	27 August, 2008
	Significant Copper Intersections Expand Known Copper Mineralisation at Simuku	25 August, 2008
	Final Director's Interest Notice	04 August, 2008
	Change of Board	31 July, 2008
	Quarterly Report - 30th June 2008	30 July, 2008
	Managing Director Interviewed by Boardroom Radio	28 July, 2008
	Best Trench and Drill Results at Simuku To Date	25 July, 2008
	Mt Nakru Update	21 July, 2008
	Presentation at Mining Aust-Asia Conference, Brisbane	17 July, 2008
	Allotment of Securities - Entitlements Issue Shortfall	15 July, 2008
	Managing Director Interviewed by Finance News Network	14 July, 2008
	Change of Director's Interest Notice	23 June, 2008
	COYO Options	19 June, 2008
	Allotment of Securities	19 June, 2008
	Entitlements Issue Raises $179,143.85	16 June, 2008
	Mt Nakru Project - Exploration Commences	28 May, 2008
	Drilling & Exploration Activities Update - Simuku Project	26 May, 2008
	Entitlements Issue Closing Date Extended	26 May, 2008
	Mailout to Shareholders, Despatch of Prospectus	13 May, 2008
	Short Form Prospectus, Entitlement Issue of Options	30 April, 2008
	Lodgement of Short Form Prospectus, Entitlement Issue of Options	30 April, 2008
	Quarterly Report	30 April, 2008
	Simuku Drilling Commenced	4 April, 2008
	Simuku Access Road Completed, Drilling to Re-Commence Early April	17 March, 2008
	COPPERMOLY Strengthens Management Team	17 March, 2008
	Allotment of Securities	14 March, 2008
	Simuku & Nt Nakru Tenements Renewed	31 January, 2008
	Commence Resource Drilling	31 January, 2008
	Admission to Official List - (PDF File 31k)	25 January, 2008
	Commencement of Official Quotation - (PDF File76k)	25 January, 2008

Release of Restricted Securities - 08 October, 2008

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In accordance with ASX Listing Rule 3.10A the Company gives notice of the release of ASX restricted securities on 22 October 2008 as follows:

- 700,000 Unlisted Officers Options – exercisable at 30 cents, expiry 22 October 2010.

Yours faithfully,

M. Gannon
Company Secretary

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Intersection of Massive Copper Sulphide at Nakru 1, Potential for Significant Copper - Gold Mineralisation at Nakru 2 -
02 October, 2008

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Peter Swiridiuk, Managing Director, commented “the intersection of copper sulphide mineralisation at Nakru-1 at 97m depth is very encouraging, as it provides us with potential for significant grades of copper beneath a blanket of gold mineralisation. The ground geophysics will help us target further holes to determine tonnage potential of copper. We are also now quite excited about the potential of significant mineralisation at the Nakru-2 polymetallic system and will begin drilling this month to test for depth extensions of mineralisation in a potentially large 700m diameter area of mineralisation”.

NAKRU 1

From both historical (pre-2008) and current exploration, eighteen drill holes totalling over 1,900m have been completed (refer to Figure 1) including over 400m drilled in six holes this year (refer to Table 1).

Deeper diamond drill holes, planned to continue to at least 300m depth, are testing for extensions of copper-gold-molybdenum mineralisation in a blind porphyry system beneath a thick layer of gold mineralisation hosted in stockwork breccia with disseminated sulphides, which has been intersected in the upper 50m of some of the drillholes.

The first deep diamond drillhole at the Nakru-1 prospect (NAK017A) intersected massive copper sulphides below about 90m depth (refer to Photo 1).

Table 1: Nakru Drill Hole Summary (2008)

Hole	Prospect	Easting	Northing	Azimuth (degrees)	Dip (degrees)	Depth
NAK013	Nakru 1	222062	9338936	0	-90	33.8
NAK014	Nakru 1	222073	9338900	0	-90	54.6
NAK015	Nakru 1	222101	9338906	0	-90	55.4
NAK016	Nakru 1	222029	9338884	0	-90	51.4
NAK017	Nakru 1	222009	9339024	190	-60	Currently at 175m

The three dimensional ground geophysical I.P. survey over Nakru-1 has been completed and will help define extensions of copper mineralisation and further drill targets. Surface trenching has been completed in order to define structurally controlled gold targets at surface (refer to Figure 1). Assay results of the trenching and drilling are expected this month.

Photo 1: Drillhole NAK-017A containing Massive Copper Sulphide (CuFeS2) at 97.70m

Nakru summary

FIGURE 1

NAKRU 2

At Nakru-2 prospect, historical (pre-2008) trenching exposed significant copper and gold mineralised intervals including 25m at 1.44% copper and 10m at 1.16g/t gold and 155 ppm molybdenum. Rock chip sample grade results included 19.9% copper. Upon completion of drilling at the Nakru-1 prospect this week, two drillholes, A and B (refer to Figure 2) are planned to test these trench intersections. The intersections occur within a 700m diameter circular structural feature, interpreted to be related to an intrusive breccia system (refer to Figure 2). Historical airborne Dighem geophysical data and preliminary results from the yet to be modelled three dimensional I.P. survey (refer to Figure 3 and 4) indicate a 400m by 250m wide zone of high chargeability (>20 m.s) and conductivity in this same area, interpreted to represent copper sulphide related mineralisation.

Recent rock samples taken from Nakru-2 (refer to Photos 1 and 2) were interpreted by petrology examination as occurring from a hydrothermal breccia containing various proportions of quartz, sericite and copper sulphide. Rock sample NAK-01 (refer to Photo 2) contains up to 10% copper sulphide (chalcopyrite, covellite and chalcocite), indicating potentially significant copper mineralisation at depth.

Photo 2: Siliceous Breccia Outcrop containing Chalcopyrite (CuFeS2) and Covellite (CuS)

Photo 3: Breccia Clast containing 10% Chalcopyrite (CuFeS2), Covellite (CuS) and Chalcocite (Cu2S)

Nakru 2

FIGURE 2

For further information please contact:

Peter Swiridiuk, Managing Director, Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associate Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

The information in this report that relates to Exploration Results is based on information compiled by Peter Swiridiuk, who is a Member of the Australian Institute of Geoscientists. Peter Swiridiuk is employed by Coppermoly Ltd.

Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Annual Report for year ended 30 June 2008 - 26 September, 2008

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We enclose the Annual Report for the year ended 30 June 2008.

The Annual General Meeting of Shareholders will be held at The Paradise Room, Gold Coast Turf Club, Racecourse Drive, Surfers Paradise, Queensland on Wednesday 19th November 2008 at 1.00pm.

Yours faithfully

M. Gannon
Company Secretary

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Nakru Drilling in Progress - 27 August, 2008

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Diamond core drilling is underway at the Nakru 1 prospect after the Company successfully secured a drill rig for the Nakru project drilling programme.

The objective of the Nakru 1 drilling programme is to test for breccia-hosed polymetallic copper-gold-molybdenum mineralisation and blind porphyry copper-gold+/-molybdenum mineralisation associated with an inferred sub-surface intrusion in the area.

Two of the four planned 50m deep holes have already been drilled and the third is currently being drilled to confirm the presence of a vent and test the extents of gold mineralisation. Stockwork breccia has been noted in the first two drill holes, similar to that which contained anomalous gold results in the surface trenching. At least two deeper (300m) holes will test for gold bearing fissures at depth (Figure 1: Sites 5 and 6). A minimum of two by 300m deep holes will test the large tonnage porphyry model at Site 7 and 8. The Company anticipates the drilling results will begin to be made available from mid September.

Trenching is continuing at Nakru 1 in order to define the limits of mineralisation of gold, copper, molybdenum and tellurium at surface (Figure 1). Already over 1,700m has been trenched with 60 samples collected to date.

Geophysical Induced Polarisation lines have been cut at Nakru 1 and Nakru 2 (Figure 2) in readiness for the survey to begin this week. The survey will help define sulphide hosted drill targets at Nakru 2 and sulphide and/or silica hosted targets at Nakru 1. The survey may also help orientate the planned deeper drill holes at Sites 7 and 8 at Nakru 1.

At Nakru 2, historical trenching had previously exposed significant polymetallic copper+gold+zinc+/-(molybdenum) targets within a 700m diameter circular feature which is now interpreted to be related to breccia pipe style mineralisation. Highlights of the historical trench sampling included 25m at 1.43% copper (Photo 1), 4m at 6.6% copper and 25m at 1.06 g/t gold. Soil sampling had previously outlined a copper-gold soil anomaly with rough dimensions of 400m by 200m. Historical grab sampling of mineralised outcrop gave assay values of 19.9% copper, 22% zinc and 260 ppm molybdenum.

For further information please contact:

Peter Swiridiuk, Managing Director, Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associate Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

nakru 2 copper
Photo 1: Nakru 2 Prospect Copper (1.43%) in Trench

Nakru proposed drilling

FIGURE 1

Nakru summary & target map

FIGURE 2

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Significant Copper Intersections Expand Known Copper Mineralisation at Simuku - 25 August, 2008

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The ongoing drilling programme at the Nayam and Tobarum prospects in Simuku is providing significant copper intersections which expands on known areas of mineralisation.

Drillhole SMD18 at Nayam, using a 0.2% copper equivalent* cut-off (see notes for explanation), intersected 32m at 0.71% copper, 136ppm molybdenum, 0.08 g/t gold and 1.29 g/t silver (0.87% copper equivalent*) at 42m depth.

Drillhole SMD21 at Tobarum, using a 0.2% copper equivalent* cut-off (see notes for explanation), intersected 44m at 0.38% copper, 26ppm molybdenum, 0.11 g/t gold and 2.45 g/t silver (0.46% copper equivalent*) at surface to 44m depth. From 308m depth, 56.8m of 0.40% copper, 76ppm molybdenum, 0.05g/t gold and 2.8g/t silver (0.51% copper equivalent*) were intersected to the bottom of the hole.

Peter Swiridiuk, Managing Director, commented “results in Hole SMD21 at Tobarum ended in 0.51% copper equivalent, indicating continued copper potential at depth. This expands on our area of significant mineralisation as SMD21 is over 800m south of the Nayam prospect which intersected 32m at 0.87% copper equivalent. With two drilling rigs currently on-site, we have drilled 2,646.6 metres in 11 drill holes and plan to continue drilling copper and molybdenum target areas for about two more months. Trenching and mapping will continue in order to define copper and molybdenum mineralisation extents at surface and help target drill holes”.

TOBARUM PROSPECT (Figures 1 and 2):

SMD21
This hole was drilled to test 39m at 0.49% copper in Trench 5, angled to intersect a north-northwest structural trend. Copper mineralisation in this hole (see Table 1 and 4 below) occurs within quartz feldspar porphyry. Relatively barren late intrusive occurs between 277m to 308m. Core recoveries were generally good at greater than 96%.

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
0	44	44	0.38	26	0.11	2.5	0.46
73	92	19	0.26	15	0.06	1.3	0.30
98	133	35	0.27	18	0.08	1.1	0.33
166	183	17	0.26	32	0.12	1.3	0.34
194	239	45	0.37	86	0.08	1.0	0.48
250	258	8	0.26	67	0.06	0.8	0.34
269	277	8	0.31	105	0.04	1.9	0.43
299	302	3	0.22	16	0.03	2.0	0.26
308	364.8	56.8	0.40	76	0.05	2.8	0.51

NAYAM PROSPECT (Figures 1 and 2):

SMD18

This hole targeted copper mineralisation beneath a leached cap with haematite in Trench 11 and angled across a structural trend. In SMD18, mineralisation (see Table 2 and 4 below) occurs within quartz porphyry and a pyritic zone at 144m depth. Quartz feldspar porphyry is reported at 241.4m depth below an intrusive unit. Drilling and trenching at Nayam continue to help determine the extent of mineralisation. Core recoveries in this hole were generally greater than 90%.

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
0	115	115	0.39	84	0.07	1.7	0.50
Including
42	74	32	0.71	136	0.08	1.3	0.87
152	172	20	0.24	63	0.05	1.2	0.32
185	210	25	0.22	17	0.05	2.8	0.27
210#	300#

# NB: 90m of results are pending between 210m and 300m
Table 2: SMD18 Assay Results

SMD19

Further assay results continue to be received for SMD19 from 122m to 181m depth (see Tables 3 and 4 below). Core recoveries in this hole were generally greater than 93%.

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
8	101	93	0.59	68	0.07	2.5	0.69
Including
18	36	18	1.0	140	0.11	4.4	1.2
103	133	30	0.37	142	0.07	1.8	0.53
135	174	39	0.32	62	0.05	1.4	0.40

NB: 165.1m of results are pending between 181m and 346.1m
Table 3: SMD19 Assay Results

Details of drilling for 2008 are summarised below (refer to Figure 1):

Hole	Prospect	Easting	Northing	Azimuth (degrees)	Dip (degrees)	Depth
SMD17	Tobarum	169701	9367796	0	vertical	177.3m
SMD18	Nayam	169718	9368292	30	-60	299m
SMD19	Nayam	169734	9368202	30	-60	346.1m
SMD20	Tobarum	169802	9367998	0	vertical	375.9m
SMD21	Tobarum	169631	9367378	280	-60	364.8m
SMD22	West Tobarum	169469	9367814	vertical	-90	261.4m
SMD23	Stan’s Hill	169022	9367728	vertical	-90	100.4m
SMD24	Magipmo North	168895	9368782	100	-50	307.4m
SMD25	Nayam	169587	9368242	30	-60	300m
SMD26	Nayam	169735	9368202	210	-60	Currently at 45m
SMD27	Tobarum	169657	9367664	100	-75	Currently at 69.3m

Table 4: Drilling Summary (datum AGD66, zone 56)

For further information please contact:
Peter Swiridiuk, Managing Director, Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associate Director, Novus Capital Limited. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Notes:
The copper equivalent* values for intersections, in addition to individual metal values, are quoted, as they provide the most meaningful comparisons between different drill holes and trenches. Management cautions, however, that as metal prices change the copper equivalent* value will change. The copper equivalent* is calculated as follows:

Metal (assay results)				Metal Price 15 July 2008		Factors		Value Calculation	Metal value US$
A				B		C		Value Calculation	Metal value US$
1	Copper	Cu	ppm	3.80	US$/lb	453.59	ppm/lb	1A x (1B/1C)	M
2	Molybdenum	Mo	ppm	33.60	US$/lb	453.59	ppm/lb	2A x (2B/2C)	N
3	Gold	Au	g/t	946.00	US$/oz	31.103	g/oz	3A x (3B/3C)	O
4	Silver	Ag	g/t	18.28	US$/oz	31.103	g/oz	4A x (4B/4C)	P
Sum of metal values								S	M+N+O+P
Metal equivalent in Copper ppm								Cu.Eq	S / 1B x 1C

Metal equivalent Cu.Eq has been calculated using metal prices as of 15 July 2008.

*Copper Equivalent is the contained copper, gold, silver and molybdenum that are converted to an equal amount of pure copper and summed (based on assays of mineralised rock and actual metal prices). It is used to allow interpretation of the possible theoretical ‘value’ of mineralised rock, without consideration of the ultimate extractability of any of the metals.

Copper Equivalent* herein is based upon metal prices of US$3.80/lb Cu, US$946/oz Au, US$33.60/lb Mo (57% MoO3 conc.) and US$18.28/oz Ag (15 July 2008).

Island Arc related porphyry copper – gold – molybdenum deposits such as Simuku typically recover contained Cu, Au, Mo and Ag (subject to metallurgical characteristics and prevailing metal prices).

The ASX requires a metallurgical recovery be specified for each metal, however, no testwork has ever been undertaken at Simuku and recoveries can only be assumed to be typical for Island Arc porphyry copper – gold – molybdenum – silver deposits in the Southwest Pacific region.

It is the Company's opinion that each of the elements included in the metal equivalents calculation has good potential to be recovered if the project proceeds to mining.

Drilling samples were transported to the camp site, logged, photographed and sampled at 1 metre intervals from core split by saw. The split samples are then transported to the town of Kimbe where they are air freighted to Intertek in Lae (PNG) for sample preparation. Samples are dried to 106 degrees C and crushed to 2-3 mm. Samples greater than 2kg are rifle split down to 1.5kg and pulverised to 75 microns. The final 300g sized pulp samples are then sent to Intertek laboratories in Jakarta for geochemical analysis. Intertek analyse for gold using a 50g Fire Assay with Atomic Absorption Spectroscopy finish. Other elements are assayed with ICP-AES (Inductively Coupled Plasma Atomic Emission Spectrophotometry) Finish. Copper values greater than 1% are re-assayed using a multi acid digest (hydrochloric, nitric, perchloric and hydrofluoric acid) to leach out the copper with an ICP finish. Molybdenum samples greater than 100ppm were check assayed using X-Ray diffraction. Intertek laboratories have an ISO 17025 accreditation

Simuku Drilling Figure 1

FIGURE 1

FIGURE 2

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Final Director's Interest Notice - 4 August, 2008

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Change of Board - 31 July, 2008

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Mr Doug Hutchison has stepped down, for personal reasons, as a Director of Coppermoly Limited, with effect from 30 July 2008. Mr. Hutchison will remain Chief Technical Geological Consultant to the Company.

Doug has been an Executive Director of the Company since its initial public offering (IPO) and listing on ASX in 2008. During that period the Company has fully established its exploration base in Kimbe, West New Britain and has instigated substantial exploration programmes on the Simuku and Mt. Nakru projects.

The Board wishes to thank Mr Hutchison for his valuable contributions to the company’s IPO and the planning and implementation of the technical programme. The company looks forward to Doug’s continuing contribution in a consulting capacity.

Mr Maurice Gannon has been appointed as Company Secretary with effect from 30 July 2008. Maurice has over twenty years experience in business and financial management and a professional background in earth and environmental sciences. He is a graduate and Affiliate Member of the Australian Institute of Chartered Secretaries and also holds a Bachelor of Science degree. Maurice is also a Member of the Australian Institute of Company Directors, the Australasian Institute of Mining and Metallurgy and AMPLA – the Australian Resources and Energy Law Association and is an Associate Fellow of the Australian Institute of Management.

Maurice replaces Mr Garry Edwards who will continue as Assistant Company Secretary.

The Board also wishes to thank Mr Edwards for his valuable contributions to the company’s IPO and the establishment and management of the Company Secretarial, financial and administrative functions. The company also looks forward to Garry’s continuing contribution.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associated Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

The information in this report that relates to Exploration Results is based on information compiled by Peter Swiridiuk and Doug Hutchison, who are Members of the Australian Institute of Mining and Metallurgy. Peter Swiridiuk and Doug Hutchison are employed by Coppermoly Ltd.

Peter Swiridiuk and Doug Hutchison have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk and Doug Hutchison consent to the inclusion in the report of the matters based on their information in the form and context in which it appears

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Quarterly Report for 30/06/08 - 30 July, 2008

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HIGHLIGHTS

The initial drilling and trenching program during 2008 at Simuku have given the best results to date. SMD19, intersected 93m from 8m depth of 0.59% copper, 68ppm molybdenum, 0.07g/t gold and 2.5g/t silver (0.69% copper equivalent*).
Over 1833m of drilling completed in seven drill holes at Simuku
Over 2600m of trenching completed at Simuku
Drill pads prepared at Mt.Nakru with a drilling rig currently on-site
7,500m of cleared track access lines completed and ready for the geophysical Induced Polarisation survey at Mt.Nakru
Option Entitlements Issue raised $205,000

1.0 SUMMARY

Coppermoly’s projects are located in a highly mineralised region and the islands of New Guinea themselves have a relative abundance of large copper-gold-molybdenum deposits including OK Tedi, Frieda River, Porgera, Yandera, Lihir and Panguna (Figure 1).

Coppermoly Limited holds title to three exploration licences EL 1077 (Simuku), EL 1043 (Mt.Nakru) and EL 1445 (Talelumas) located on the Island of New Britain, PNG. The Talelumas tenement was granted for a period of two years on 29th May, 2008 and ensures coverage of most of the known mineralisation in the immediate areas surrounding the Simuku tenement (Figure 3).

These advanced exploration tenements enclose three separate, large, porphyry copper-gold-molybdenum systems, namely Simuku, Nakru 1 and Nakru 2. The projects are close to required infrastructure for development (Figure 2) and the recent track access upgrade has allowed easy access to roads, an airfield and a deep water port. Drilling programmes are well underway in order to define a substantial resource on at least one of these advanced projects within the next 12 to 18 months.

Historical exploration completed on the projects includes some 54 drill holes, over 40 kms of bulldozer/excavator trenching, geophysical surveys and extensive soil and other geochemical surveys.

Topography at the projects is moderate at between 300m and 800m above sea level, enabling relatively easier conditions for on-site development and logistics. Good landowner relations exists and local labour is sought from landowners.

The exploration areas are close to infrastructure and services on the Island of New Britain. The Provincial capital of Kimbe, where the company’s exploration base is located, has a population of approximately 16,000.

PNG

Figure 1: Papua New Guinea Hosts Large Copper and Gold Orebodies

Figure 2: Coppermoly Projects on New Britain Island

For a complete review of Coppermoly Ltd please refer to www.coppermoly.com.au.

2.0 EXPLORATION AT SIMUKU (EL 1077)

Within EL 1077 and EL 1045 (Figure 3), copper mineralisation occurs at the Simuku and Kulu prospects with gold mineralisation at the Kulu and Talelumas prospects.

At the Simuku prospect, porphyry style copper-molybdenum-gold mineralisation is known over an area of about 4.5km by 2.2km (Figure 3). More than 23 km of bulldozer trenching and 23 drill holes have defined a large 3,500m by 650m anomalous copper envelope with inner anomalous molybdenum envelope (Figure 4).

Several copper-molybdenum drill targets have been defined at the Simuku prospect. Trenching is being undertaken at Magipmo and Nayam copper targets as well as at the Horseshoe Molybdenum zone (Figure 5).

Regional Mineralisation

Figure 3: Regional Mineralisation at EL 1077 and EL 1445 with Magnetics Image

Simuku Cu & Mo Mineralisation

Figure 4: Simuku Copper and Molybdenum Mineralisation

Over 1833m of drilling has been completed this year in seven diamond drill holes (see Table 1 below) at the Simuku site.

Table 1: Simuku 2008 Drill Collar Table (co-ordinates are in AGD66, zone 56)

Drill Hole	Prospect	Easting	Northing	Azimuth (degrees)	Dip (degrees)	Current Depth
SMD17 [Site D]	Tobarum	169701	9367796	0	-90	177.3m
SMD18 [Site A]	Nayam	169718	9368292	30	-60	299m
SMD19 [Site B]	Nayam	169734	9368202	30	-60	346.1m
SMD20 [Site C]	Tobarum	169802	9367998	0	-90	375.9m
SMD21 [Site E]	Tobarum	169631	9367378	280	-60	365.8m
SMD22 [Site F]	West Tobarum	169469	9367814	0	-90	Currently at 204.9m
SMD23	Stan’s Hill	169022	9367728	0	-90	Currently at 65m

A total length of 2200m of trenching/access has been completed to the Magipmo site and 400m of trenching has been completed at Nayam (Figure 5). The Magipmo target area may represent a higher level in the porphyry system and is perhaps down faulted relative to Tobarum/Nayam.

The initial drilling and trenching program during 2008 at Simuku have given the best results to date, including all historical work. SMD19, using a 0.2% copper equivalent* cut-off, intersected 93m from 8m depth of 0.59% copper, 68ppm molybdenum, 0.07g/t gold and 2.5g/t silver (0.69% copper equivalent*).

Hole SMH12, at one end of the Nayam trench (Figure 6) encountered significant mineralisation with intersections such as 91.3m from 0 to 91.3m at 0.43% copper, 81ppm molybdenum, 0.06g/t gold (0.52% copper equivalent*).

Nayam Prospect:

Drill hole SMD19 (Figure 6) targeted copper mineralisation within intrusive in historical drill holes:

SMH07 - 63m at 0.52% copper, 65 ppm molybdenum, 0.12g/t gold, 2.1g/t silver (0.64 % copper equivalent*) from surface; and

SMH11 - 77m at 0.49% copper, 85 ppm molybdenum, 0.11g/t gold, 2.0 g/t silver (0.62 % copper equivalent*) from surface.

In SMD19, molybdenite can be seen in the core samples and mostly confined to structures. Pyrite and chalcopyrite occur disseminated in quartz feldspar porphyry mapped at surface and throughout the drill hole in a pyritic zone beneath weathered leached material in Nayam trench (see Tables 2 and 3 below), which has copper mineralisation open at both ends (Figure 6). Hole SMD19 had core recoveries greater than 93%.

Table 2: SMD19 Assay Results (0.2% Cu.Eq cut-off)

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq%*
8	101	93	0.59	68	0.07	2.5	0.69
Including
18	36	18	1.0	140	0.11	4.4	1.2
103	122#	19	0.37	76	0.07	1.6	0.48

# NB: 224.1m of results are pending between 122m and 346.1m

Table 3: Nayam Trench Results (0.2% Cu.Eq cut-off)

From (m)	To (m)	Length (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq%*
0	117	117	0.61	86	0.10	2.6	0.74

Tobarum Prospect:

SMD17 (Figure 6) was drilled to test below significant copper results intersected in Trench 4 which had results of 63m at 0.47% copper, including 18m at 0.74% copper in exposed quartz porphyry.

Copper mineralisation in drill hole SMD17 (see Table 4 below) occurs as disseminated chalcopyrite within a matrix of quartz feldspar porphyry. Core recoveries were generally good at greater than 93%.

Table 4: SMD17 Assay Results (0.2% Cu.Eq* cut-off)

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq%*
7	20	13	0.37	22	0.07	3.5	0.44
27	80	53	0.27	15	0.05	1.6	0.31
88	98	10	0.29	28	0.07	1.0	0.34
113	115	2	0.20	12	0.05	1.0	0.24
124	155	31	0.20	51	0.07	2.0	0.29
162	164	2	0.41	47	0.06	1.3	0.48
167	177.3	10.3	0.26	26	0.04	2.2	0.31

The first 50m of SMD17 included episodic structural events with mineral association as indicated by the crosscutting structures. Oxidation from the surface extends to 10m (0-10m) with weakly leached argillic clay + haematite- quartz+/-pyrite. The next 20m (11-30m) appear to be of quartz – magnetite-pyrite+/-haematite fractures and bluish green fractures. Beyond 30m is primary sulphide especially pyrite–chalcopyrite+/-galena/sphalerite-/+pinkish veins.

SMD20 was drilled to test the extensions of copper mineralisation within interpreted intrusive rock in the lower part of historical drill hole SMD03 (Figure 6), which intersected 50.2m at 0.5% copper, 40 ppm molybdenum, 0.06 g/t gold and 2.5 g/t silver (0.57% copper equivalent*) from 100m to 150.2m.

Copper mineralisation in drill hole SMD20 (see Table 5 below) occurs disseminated within a matrix of quartz feldspar porphyry. Core recoveries were generally good at greater than 96%.

Table 5: SMD20 Assay Results (0.2% Cu.Eq* cut-off)

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq%*
8	19	11	0.24	24	0.05	1.9	0.29
26	42	16	0.18	31	0.04	1.1	0.23
50	61	11	0.20	108	0.16	4.7	0.38
68	85	17	0.26	49	0.03	1.7	0.32
103	159	56	0.22	38	0.04	1.9	0.28
174	233	59	0.26	23	0.05	4.2	0.32
250	375.9	125.9	0.36	74	0.06	1.4	0.46

The copper grade in drill hole SMD20 is improving with depth as illustrated by the intersection of 125.9m of 0.36% copper, 74ppm molybdenum, 0.06 g/t gold and 1.4 g/t silver (0.45% copper equivalent*) from 250m to 375.9m.

Copper Equivalent*

The mineralisation at Simuku consists of copper, molybdenum, gold and silver. The copper equivalent* is calculated as follows:

Metal (assay results) A				Metal Price 15 July 2008 B		Factors C		Value Calculation	Metal value US$
1	Copper	Cu	ppm	3.80	US$/lb	453.59	ppm/lb	1A x (1B/1C)	M
2	Molybdenum	Mo	ppm	33.60	US$/lb	453.59	ppm/lb	2A x (2B/2C)	N
3	Gold	Au	g/t	946.00	US$/oz	31.103	g/oz	3A x (3B/3C)	O
4	Silver	Ag	g/t	18.28	US$/oz	31.103	g/oz	4A x (4B/4C)	P
Sum of metal values								S	M+N+O+P
Metal equivalent in Copper ppm								Cu.Eq	S / 1B x 1C

The copper equivalent* values for intersections, in addition to individual metal values, are quoted, as they provide the most meaningful comparisons between different drill holes and trenches. As metal prices change the copper equivalent* value will change.

Notes:

*Copper Equivalent (Cu.Eq) is the contained copper, gold, silver and molybdenum that are converted to an equal amount of pure copper and summed (based on assays of mineralised rock and actual metal prices). It is used to allow interpretation of the possible theoretical ‘value’ of mineralised rock, without consideration of the ultimate extractability of any of the metals.
Copper Equivalent* herein is based upon metal prices of US$3.80/lb Cu, US$946/oz Au, US$33.60/lb Mo (57% MoO3 conc.) and US$18.28/oz Ag (15 July 2008). The formula used is as shown on page 1.
Island Arc related porphyry copper – gold – molybdenum deposits such as Simuku typically recover contained Cu, Au, Mo and Ag (subject to metallurgical characteristics and prevailing metal prices).
The ASX requires a metallurgical recovery be specified for each metal, however, no testwork has ever been undertaken at Simuku and recoveries can only be assumed to be typical for Island Arc porphyry copper – gold – molybdenum – silver deposits.
It is the Company’s opinion that each of the elements included in the metal equivalents calculation has good potential to be recovered if the project proceeds to mining.

Drilling samples were transported to the camp site, logged, photographed and sampled at 1 metre intervals from core split by saw. The split samples are then transported to the town of Kimbe where they are air freighted to Intertek in Lae (PNG) for sample preparation. Samples are dried to 106 degrees C and crushed to 2-3 mm. Samples greater than 2kg are rifle split down to 1.5kg and pulverised to 75 microns. The final 300g sized pulp samples are then sent to Intertek laboratories in Jakarta for geochemical analysis. Intertek analyse for gold using a 50g Fire Assay with Atomic Absorption Spectroscopy finish. Other elements are assayed with ICPAES Finish. Copper values greater than 1000ppm are re-assayed using a multi acid digest (hydrochloric, nitric, perchloric and hydrofluoric acid) to leach out the copper with an ICP finish. Molybdenum samples greater than 100ppm were check assayed using X-Ray diffraction. Intertek laboratories have an ISO 17025 accreditation.

Proposed Drilling

Figure 5: Simuku Existing and Proposed Drillholes

Nayam Prospect

Figure 6: Nayam Prospect Area Drillholes

3.0 EXPLORATION AT MT.NAKRU (EL 1043)

The Mt Nakru tenement EL 1043 encloses a large porphyry copper-gold (molybdenum) system located at Nakru-1 and potential for breccia-hosted gold and porphyry-style copper-gold deposits at Nakru-2 (Figure 7).

The Mt Nakru system comprises of four defined prospects, Nakru 1 to Nakru 4. These systems are located within the mineralised Kulu-Awit Corridor, which trends west-northwest through Central New Britain and contains other systems including Kulu (copper-gold), and Simuku (copper-gold).

Track access continues to be upgraded to 4WD status at Nakru 1 and new trenches are being mapped and sampled for gold, copper, molybdenum and tellurium in order to define the limits of mineralisation.

Nakru 1 Prospect:

Nakru 1 is the most advanced of the four prospects and has potential to host a large copper-gold deposit. Deep auger soil sampling, more than 10km of hand and bulldozer trenching and twelve drill holes (totalling 1,499m) have been completed. Highlights of the historical trenching and drilling programmes at Nakru 1 (Figure 8) include:

Trench intercepts of:
95m @ 2.88g/t Au
42m @ 2.7g/t Au
51m @ 2.2g/t Au
25m @ 1.43% Cu
4m @ 6.6% Cu

Drill Intercepts of:
94m @ 0.43% Cu, 0.46g/t Au
205m @ 0.40% Cu, including 74m @ 0.78% Cu
54m @ 0.18g/t Au

Two styles of mineralisation have been recognised:

(a) breccia-hosed polymetallic copper-gold-molybdenum mineralisation in the area tested by historical trenching and drilling; and

(b) blind porphyry copper-gold+/-molybdenum mineralisation associated with an inferred sub-surface intrusion in the area extending east and southeast from the trenched area.

Auger soil sampling has outlined an irregular combined gold-copper-molybdenum-arsenic soil anomaly with approximate dimensions of 800m x 200-300m trending north-northwest (Figure 8).

The work programme at Nakru 1 Prospect involves the upgrading track access, and clearing, mapping, and sampling of old trenches to confirm the location of historical gold intersections. New trenches will be mapped and sampled for gold, copper, molybdenum and tellurium in order to define the limits of mineralisation.

A minimum of 4 x 50m [Figure 8: Sites 1 – 4] deep holes will be drilled to confirm the presence of a vent and test the extents of gold mineralisation. At least two deeper holes will test for gold bearing fissures at depth (Figure 8: Sites 5 and 6). A minimum of 2 x 300m holes will test the large tonnage porphyry model at Site 7 and 8. Drilling pads have been constructed and a diamond drilling rig is currently on-site.

Geophysical I.P. surveying will begin in August to help define drilling targets. A total of 7,500m of lines have been cut in readiness for the survey.

Nakru 2 Prospect:

At Nakru 2 Prospect (Figure 7), bulldozer trenching has exposed significant copper mineralised intervals and local very high copper grades, including 25m at 1.43% Cu; 25m at 1.06g/t Au; 4m at 6.6% Cu; and up to 19.9% Cu in grab samples. No drill testing has been undertaken at Nakru 2 Prospect.

Nakru 2 appears to be polymetallic copper+gold+zinc+/-(molybdenum) target with copper being the predominant metal. The mineralised area is coincident with a circular structural feature, about 700m in diameter, visible on air photos.

The planned work programme will involve re-opening, sampling and mapping of all previous trenches, re-interpreting creek geology and re-sampling creek exposures to develop a geological interpretation in light of a potential breccia pipe model. Geophysical I.P. surveys over the circular feature is planned to help develop drilling targets.

Nakru 3 Prospect:

Nakru 3 Prospect is located approximately 1.7km north of Nakru 1. Reconnaissance rock chip sampling has located values of 5.2g/t Au in a silicified shear zone carrying pyrite and magnetite; up to 2.7% Cu in outcropping altered breccia; and 4.9% Zn, 498g/t Ag in creek float.

Nakru 4 Prospect:

At Nakru 4 Prospect, which is located about 1.2km Northwest of Nakru 1, deep Wacker drilling beneath the young ash cover, which is up to 15.2m thick, defined a semi-coherent anomaly which has dimensions of about 600m x 200-400m. Highlights from the Wacker soil sampling are shown in Table 6.

Table 6: Wacker Drilling Highlights

Width	Au (av) g/t	As (av) ppm	Cu (av) ppm	Au (peak) g/t	As (peak) ppm	Cu (peak) ppm
100m incl 50m 50m ?m 25m 50m	0.21 0.40 0.20 0.23 0.1 0.12	73 132 11 76 21 5	395 365 216 472 156 124	0.62 0.62 0.21 - 0.21 0.21	202 202 11 - - 5	896 896 251 - - 126

Air Photo Interpretation

Figure 7: Nakru 1 and Nakru 2 Air Photo Interpretation

Nakru Proposed Stage 1 Drilling

Figure 8: Nakru-1 Proposed Stage 1 Drilling

4.0 TENEMENT TRANSFER

At the time of listing of Coppermoly Ltd, it was agreed that through its wholly owned subsidiary Copper Quest (PNG) Ltd, the tenements EL1077 (Simuku) and EL1043 (Nakru) were to be acquired from New Guinea Gold Ltd. The two tenements were transferred to Copper Quest (PNG) Ltd on the 11th April, 2008.

5.0 CORPORATE

The Company lodged a prospectus with the ASX and ASIC containing a 1 for 4 non-renounceable Entitlements Issue of Options at 1 cent. The Options were issued at a price of one (1) cent each with an exercise price of thirty (30) cents each and an expiry date of 30 April 2011. The terms and conditions of the Options are summarised in Section 5 of the Coppermoly Prospectus (see www.coppermoly.com.au).

The Entitlements Issue raised approximately $205,000. These funds will be used to fund the costs of the Issue and to supplement the Company’s working capital.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associate Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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Managing Director Interviewed by Boardroom Radio - 28 July, 2008

PDF File (50k)

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

In the interview Mr. Swiridiuk discusses Coppermoly’s recent drilling and trenching results at Simuku.

The interview can be accessed over the internet through the following link:

http://www.brr.com.au/event/48694/best-trench-and-drill-results-to-date

Peter Swiridiuk
MANAGING DIRECTOR

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Best Trench and Drill Results at Simuku to Date - 25 July, 2008

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DRILLING AND TRENCHING RESULTS AT SIMUKU GIVE BEST RESULTS TO DATE

The initial drilling and trenching program at Simuku have given the best results to date, including all historical work.

SMD19 using a 0.2% copper equivalent* cut-off (see below for explanation), intersected 93m from 8m depth of 0.59% copper, 68ppm molybdenum, 0.07g/t gold and 2.5g/t silver (0.69% copper equivalent* – see below for explanation). Awaiting results from 122 to 346.1m depth.

An excavator trench, between former hole SMH12 and SMD19 intersected 117m at 0.61% copper, 86ppm molybdenum, 0.10g/t gold and 2.6g/t silver (0.74% copper equivalent*).

Peter Swiridiuk, Managing Director, commented “these results are encouraging, particularly so early in the resource definitive program. Hole SMH12, at one end of the Nayam trench, which was previously drilled by Macmin (PNG) Ltd (now New Guinea Gold Ltd) also encountered significant mineralisation with intersections such as 91.3m from 0 to 91.3m at 0.43% copper, 81ppm molybdenum, 0.06g/t gold (0.52% copper equivalent*). In addition, hole SMD19 was drilled to a depth of 346.1m and assays are still pending for the hole below 122m”.

Copper Equivalent*

The mineralisation at Simuku consists of copper, molybdenum, gold and silver. Copper is predominant in the holes reported in this release but in one previous hole, molybdenum predominated – SMD14 intersected 19m at 0.32% molybdenum and 0.1% copper. In a possible mining operation it is likely that copper, molybdenum, gold and silver will all be recovered and management consider that using a copper equivalent* cut-off of 0.2% provides the best way to present and to compare drill hole data. The copper equivalent* is calculated as follows:

Metal (assay results)				Metal Price 15 July 2008		Factors		Value Calculation	Metal value US$
A				B		C		Value Calculation	Metal value US$
1	Copper	Cu	ppm	3.80	US$/lb	453.59	ppm/lb	1A x (1B/1C)	M
2	Molybdenum	Mo	ppm	33.60	US$/lb	453.59	ppm/lb	2A x (2B/2C)	N
3	Gold	Au	g/t	946.00	US$/oz	31.103	g/oz	3A x (3B/3C)	O
4	Silver	Ag	g/t	18.28	US$/oz	31.103	g/oz	4A x (4B/4C)	P
Sum of metal values								S	M+N+O+P
Metal equivalent in Copper ppm								Cu.Eq	S / 1B x 1C

Metal equivalent Cu.Eq has been calculated using metal prices as of 15 July 2008

The copper equivalent* values for intersections, in addition to individual metal values, are quoted, as they provide the most meaningful comparisons between different drill holes and trenches. Management cautions, however, that as metal prices change the copper equivalent* value will change.

No metallurgical test work has been completed on mineralisation from Simuku but the mineralisation from Simuku is similar to Island Arc porphyry copper-gold-molybdenum systems in the Southwest Pacific and recoveries similar to those at existing mines could be expected.

NAYAM PROSPECT DRILLING AND TRENCHING RESULTS:

SMD19 [Site B] (Figures 1 and 2): 169734e 9368202n, Dip -600 at 300 TN, Depth = 346.1m

This hole targeted copper mineralisation within intrusive in drill holes:

SMH07 63m at 0.52% copper, 65 ppm molybdenum, 0.12g/t gold, 2.1g/t silver (0.64 % copper equivalent*) from surface; and

SMH11 77m at 0.49% copper, 85 ppm molybdenum, 0.11g/t gold, 2.0 g/t silver (0.62 % copper equivalent*) from surface.

The drilling and trenching results are encouraging with significant mineralisation in Nayam trench which is open at both ends (Figure 2). Core recoveries were greater than 93%.

Table 1: SMD19 Assay Results

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
8	101	93	0.59	68	0.07	2.5	0.69
Including
18	36	18	1.0	140	0.11	4.4	1.2
103	122#	19	0.37	76	0.07	1.6	0.48

# NB: 224.1m of results are pending between 122m and 346.1m

Table 2: Nayam Trench Results

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
0	117	117	0.61	86	0.10	2.6	0.74

TOBARUM PROSPECT DRILLING RESULTS:

SMD17 [Site D] (Figures 1 and 2): 169701e 9367796n, Vertical, Depth = 177.3m

This hole was drilled to test below significant copper results intersected in Trench 4 which had results of 63m at 0.47% copper, including 18m at 0.74% copper in exposed quartz porphyry.

Copper mineralisation in drill hole SMD17 (see Table 3 below) occurs as disseminated chalcopyrite within a matrix of quartz feldspar porphyry. Core recoveries were generally good at greater than 93%.

Table 3: SMD17 Assay Results

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
7	20	13	0.37	22	0.07	3.5	0.44
27	80	53	0.27	15	0.05	1.6	0.31
88	98	10	0.29	28	0.07	1.0	0.34
113	115	2	0.20	12	0.05	1.0	0.24
124	155	31	0.20	51	0.07	2.0	0.29
162	164	2	0.41	47	0.06	1.3	0.48
167	177.3	10.3	0.26	26	0.04	2.2	0.31

SMD20 [Site C] (Figures 1 and 2): 169802e 9367998n, Vertical, Depth = 375.9m

This hole was drilled to test the extensions of copper mineralisation within interpreted intrusive rock in the lower part of historical drill hole SMD03, which intersected:

50.2m at 0.5% copper, 40 ppm molybdenum, 0.06 g/t gold and 2.5 g/t silver (0.57% copper equivalent*) from 100m to 150.2m.

Copper mineralisation in drill hole SMD20 (see Table 4 below) occurs disseminated within a matrix of quartz feldspar porphyry. Core recoveries were generally good at greater than 96%.

Table 4: SMD20 Assay Results

From (m)	To (m)	Width (m)	Cu %	Mo ppm	Au g/t	Ag g/t	Cu.Eq %
8	19	11	0.24	24	0.05	1.9	0.29
26	42	16	0.18	31	0.04	1.1	0.23
50	61	11	0.20	108	0.16	4.7	0.38
68	85	17	0.26	49	0.03	1.7	0.32
103	159	56	0.22	38	0.04	1.9	0.28
174	233	59	0.26	23	0.05	4.2	0.32
250	375.9	125.9	0.36	74	0.06	1.4	0.46

The grade in drill hole SMD20 is improving at depth as illustrated by the intersection of 125.9m of 0.36% copper, 74ppm molybdenum, 0.06 g/t gold and 1.4 g/t silver (0.45% copper equivalent*) from 250m to 375.9m.

Additional holes currently being drilled are summarised below (refer to Figure 1):

Hole	Prospect	Easting	Northing	Azimuth (degrees)	Dip (degrees)	Current Depth
SMD18 [Site A]	Nayam	169718	9368292	30	-60	299m
SMD21 [Site E]	Tobarum	169631	9367378	280	-60	366m
SMD22 [Site F]	West Tobarum	169469	9367814	vertical	-90	Currently at 204.9m
SMD23	Stan’s Hill	169022	9367728	vertical	-90	Currently at 65m

Notes:

Co-ordinates are in Datum AGD66, Zone 56
Intersections are calculated on the basis of a cut-off of 0.2% Cu.Eq.

Currently awaiting Assays from holes SMD18 and SMD21.

Laboratory and Sampling Procedures

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001

Bernadette Sukkar, Associate Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Notes:

*Copper Equivalent is the contained copper, gold, silver and molybdenum that are converted to an equal amount of pure copper and summed (based on assays of mineralised rock and actual metal prices). It is used to allow interpretation of the possible theoretical ‘value’ of mineralised rock, without consideration of the ultimate extractability of any of the metals.

Copper Equivalent* herein is based upon metal prices of US$3.80/lb Cu, US$946/oz Au, US$33.60/lb Mo (57% MoO3 conc.) and US$18.28/oz Ag (15 July 2008). The formula used is as shown on page 1.

Island Arc related porphyry copper – gold – molybdenum deposits such as Simuku typically recover contained Cu, Au, Mo and Ag (subject to metallurgical characteristics and prevailing metal prices).

The ASX requires a metallurgical recovery be specified for each metal, however, no testwork has ever been undertaken at Simuku and recoveries can only be assumed to be typical for Island Arc porphyry copper – gold – molybdenum – silver deposits.

It is the Company’s opinion that each of the elements included in the metal equivalents calculation has good potential to be recovered if the project proceeds to mining.

Figure 1

Figure 2

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Mt Nakru Update - 21 July, 2008

PDF File (995k)

SUMMARY

Drill pads being prepared at Nakru 1
Diamond drilling rig currently being mobilised to Nakru 1
7,500m of cleared track access lines completed and ready for a three dimensional Induced Polarisation geophysical survey at Nakru
Tenement application for EL 1445 (Talelumas) granted

NAKRU PROJECT

Track access continues to be upgraded to 4WD status at Nakru 1 and new trenches will be mapped and sampled for gold, copper, molybdenum and tellurium in order to define the limits of mineralisation (Figure 3).

Highlights of the historical trenching and drilling programmes at Nakru 1 include:

Trench intercepts (sample intervals) of:

95m @ 2.88g/t gold

25m @ 1.43% copper

Drill Intercepts of:

94m @ 0.43% copper, 0.46g/t gold

205m @ 0.40% copper, including 74m @ 0.78% copper

A minimum of 4 x 50m holes will be drilled to confirm the presence of a vent and test the extents of gold mineralisation. At least two deeper holes will test for gold bearing fissures at depth (Figure 3: Sites 5 and 6). A minimum of 2 x 300m holes will test the large tonnage porphyry model at Site 7 and 8. Drilling pads are currently being constructed and a diamond drilling rig is being mobilised to site.

Geophysical I.P. surveying will begin in August to help define drilling targets. A total of 7,500m of lines have been cut in readiness for the survey.

At the Nakru 2 Prospect (Figure 2), the planned work programme will involve re-opening, sampling and mapping of all previous trenches, re-interpreting creek geology and re-sampling creek exposures to develop a geological interpretation in light of a potential breccia pipe model. Geophysical I.P. surveys over the circular feature is planned to help develop drilling targets.

The Mt Nakru project is well located near the town of Kimbe and close to essential infrastructure including roads, an airfield and a deep water port (Figure 1). The Mt Nakru system includes four defined prospects, Nakru 1 to Nakru 4.

These systems are located within the well-mineralised Kulu-Awit Corridor, which trends west-north-west through Central New Britain and contains other systems including Kulu (copper-gold), and Simuku (copper-gold).

TENEMENT TRANSFER AND APPROVAL

1. The tenement EL 1445 (Talelumas) surrounding the northern part of the Simuku tenement (Figure 1) was granted by the Minister of the Mineral Resources Authority, PNG on 29th May, 2008 for a period of two years

2. At the time of listing of Coppermoly Ltd, it was agreed that through its wholly owned subsidiary Copper Quest (PNG) Ltd, the tenements EL1077 (Simuku) and EL1043 (Nakru) were to be acquired from New Guinea Gold Ltd. The two tenements were transferred to Copper Quest (PNG) Ltd on the 11th April, 2008.

SIMUKU PROJECT UPDATE

The first drilling and trench assays results for Simuku are currently being compiled and these results are expected to be released in a few days.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associated Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Figure 1

Nakru Summary & Target Map

Figure 2

Nakru Proposed Drilling

Figure 3

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Presentation at Mining Aus-Asia Conference, Brisbane - 17 July, 2008

PDF File (4.13mb)

Attached is a presentation by the Company’s Managing Director, Mr Peter Swiridiuk, to the Association of Mining and Exploration Companies Inc. Conference “Mining Aust-Asia 2008”.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associated Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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Allotment of Securities - Entitlements Issue Shortfall - 15 July, 2008

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The Company has allotted 2,589,437 COYO options today, being the shortfall from the Entitlements Issue dated 30 April 2008.

An Appendix 3B in relation to the Entitlements Issue was lodged on 30 April 2008.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

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Managing Director Interviewed by Finance News Network - 14 July, 2008

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Coppermoly Limited is pleased to advise that the Company’s Managing Director, Mr Peter Swiridiuk, has participated in an interview with Finance News Network.

In the interview Mr Swiridiuk discusses Coppermoly’s Simuku and Nakru copper-gold-molybdenum projects.

The video interview is available for viewing over the internet by accessing the following link:

http://www.coppermoly.com.au/media/index.htm

Peter Swiridiuk
MANAGING DIRECTOR

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Change of Director’s Interest Notice - Dal Brynelsen - 23 June, 2008

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ON MARKET PURCHASE

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COYO Options- 19 June, 2008

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Further the Company’s announcement earlier today regarding the allotment of securities, the Top 20 Option Holders and the Distribution Schedule follow in relation to the Entitlements Issue Appendix 3B that was lodged on 30 April 2008.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

Coppermoly Ltd
Options $0.30 Exp. 30/04/2011
Top 20 Holdings as at 19-06-2008

Holder No	Holder Name	Balance at 19-06-2008	%
S00018398826	NEW GUINEA GOLD CORPORATION	9,568,422	53.412
S00020876930	PACIFIC KANON GOLD CORPORATION	2,631,579	14.690
S00020877227	FIREBIRD GLOBAL MASTER FUND 11 LTD	750,000	4.187
S00000719676	CITICORP NOMINEES PTY LIMITED	624,164	3.484
S00018375621	MS PAIGE SIMONE MCNEIL	464,250	2.591
S00021082449	THEODOOR GILISSEN GLOBAL CUSTODY	325,000	1.814
S00021071200	SPECTRA INVESTMENT GROUP LLC & MR ANDREW BURTON	300,000	1.675
S00021183725	VANGOLD RESOURCES LTD	275,000	1.535
S00018375541	MRS ROSEMARY JOY MCNEIL	150,000	0.837
S00020877090	110980 BC LTD	125,000	0.698
S00020877120	DEL MAR MANAGEMENT LTD	110,000	0.614
S00011400752	MR GARRY MICHAEL EDWARDS	100,000	0.558
S00018971658	ARCHEM TRADING NZ LIMITED	100,000	0.558
S00020877189	MR GREG CLARKES	100,000	0.558
S00020876981	HUTCHISON SUPERFUND PTY LTD	85,000	0.474
S00020877103	SECRET COVE MANAGEMENT LTD	75,000	0.419
S00020877138	1313 INVESTMENTS LTD	75,000	0.419
S00020876999	MR CES EDWARD IEWAGO	62,500	0.349
S00002168782	MR PETER ANTHONY MC CARTHY & MRS MAUREEN HELENA MC CARTHY <MC CARTHY FAMILY SUPER A/C>	60,000	0.335
S00021183229	HERA INVESTMENTS PTY LTD	60,000	0.335

		16,040,915	89.542
		17,914,385

Coppermoly Ltd
Analysis of Holdings as at 19-06-2008

Security Classes
Options $0.30 Exp. 30/04/2011

Holdings Ranges	Holders	Total Units	%
1-1,000	7	5,499	0.031
1,001-5,000	135	427,125	2.384
5,001-10,000	33	306,111	1.709
10,001-100,000	58	1,852,235	10.339
100,001-99,999,999,999	11	15,323,415	85.537
Totals	244	17,914,385	100.000

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Allotment of Securities - 19 June, 2008

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The allotment of 17,914,385 COYO options (as announced 16 June 2008) has been processed and holding statements will be despatched by the Share Registry today, as scheduled.

An Appendix 3B in relation to the Entitlements Issue was lodged on 30 April 2008.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

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Entitlements Issue Raises $179,143.85 - 16 June, 2008

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The Entitlements Issue of options (Prospectus dated 30 April 2008) that closed on 12 June 2008 received applications for 17,914,385 options of the total 20,503,822 offered, raising $179,143.85.

The allotment of 17,914,385 options will be processed on 19 June 2008, subject to clearance of funds. Holding statements will be despatched by the Share Registry the same day.

This Entitlements Issue fulfilled a commitment in the Initial Public Offering (IPO) that shareholders would be offered one option for each four shares held, within approximately 3 months of the IPO. The Board is pleased that most shareholders have availed themselves of the opportunity to purchase their entitlement to options.

The Company currently has $5.8M in funds and is progressing with exploration programmes at Mt Nakru and Simuku projects.

An Appendix 3B in relation to the Entitlements Issue was lodged on 30 April 2008.

Appendix 3Y “Change of Directors Interest Notices” for 5 directors are attached.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

Encl.

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Mt Nakru Project - Exploration Commenced - 28 May, 2008

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HIGHLIGHTS

Road access into Mt Nakru project near completion.
Review of Nakru 1 and 2 Prospects has been completed and detailed work programmes complied for both prospects.
Drilling and trenching to commence in June; and
Geophysical surveys to be initiated.

Coppermoly Limited is pleased to report that access into the Mt Nakru project has begun with the last 5km of the 55km access road into the campsite being re-opened.

Following a detailed review of the area (Figure 1), work programmes for Nakru 1 and Nakru 2 Prospects have been finalised and are scheduled to commence early next month.

The Nakru 1 work programme will involve upgrading track access, and reopen, map, and sample selected intervals of old trenches to confirm the location of historical gold intersections. New trenches will be mapped and sampled for gold, copper, molybdenum and tellurium in order to define the limits of mineralisation.

A minimum of 4 x 50m deep holes (Figure 2: Sites 1 – 4) will be drilled to confirm the presence of a vent and test the extents of gold mineralisation. At least two deeper holes will test gold fissure targets at depth (Figure 2: Sites 5 and 6). A minimum of 2 x 300m holes will test the porphyry target at Sites 7 and 8.

Geophysical I.P. surveying is also being planned over some of these areas to help define drilling targets.

The Nakru 2 work programme will involve re-opening, sampling and mapping of all previous trenches, re-interpreting creek geology and re-sampling creek exposures to develop a geological interpretation in light of a potential breccia pipe model. Geophysical I.P. surveys over the circular feature are planned to help develop drilling targets.

“The Mt Nakru copper-gold system in Central New Britain is a large acid-intermediate, volcanic-intrusive complex that has potential for breccia-hosted gold deposits and porphyry-style copper-gold deposits. Four separate prospects have been identified with significant copper and gold values found in outcrop, trench or drill samples at each prospect, along with significant silver, molybdenum and zinc grades.” said Peter Swiridiuk, Managing Director of Coppermoly Limited.

Mr. Swiridiuk added “The MountNakru project is well supported by its landowners, who will also be contracted by Coppermoly Limited to work on the Mt Nakru project.”

Mt Nakru Project Overview

The Mt Nakru project is well located, near the town of Kimbe and close to essential infrastructure including roads, an airfield and a deep water port.

The project is comprised of two systems namely, Mt Nakru and Plesyumi. The Mt Nakru system includes four defined prospects, Nakru 1 to Nakru 4.

These systems are located within the well-mineralised Kulu-Awit Corridor, which trends west-northwest through Central New Britain and contains other systems including Kulu (copper-gold), and Simuku (copper-gold).

Nakru 1 Prospect:

Trench intercepts (sample intervals) of:
95m @ 2.88g/t gold
42m @ 2.7g/t gold
51m @ 2.2g/t gold
25m @ 1.43% copper
4m @ 6.6% copper
Drill Intercepts of:
94m @ 0.43% copper, 0.46g/t gold
205m @ 0.40% copper, including 74m @ 0.78% copper
54m @ 0.18g/t gold

Two styles of mineralisation have been recognised:

(a) breccia-hosed polymetallic copper-gold-molybdenum mineralisation in the area tested by historical trenching and drilling; and

(b) blind porphyry copper-gold+/-molybdenum mineralisation associated with an inferred sub-surface intrusion in the area extending east and southeast from the trenched area.

Trench intersections (Figure 2) indicate grades in the breccia-hosted mineralisation of approximately 0.1 - 3.0g/t gold. However, values in individual breccia clasts of up to 37.0g/t gold have been reported, indicating potential for high grade gold mineralisation at depth within the feeder vent(s). The average grades of mineralised intervals in the underlying volcanic complex are in the range 0.3 - 0.7% copper with up to 0.5g/t gold over significant widths.

Auger soil sampling has outlined an irregular combined gold-copper-molybdenum-arsenic soil anomaly with approximate dimensions of 800m x 200-300m trending north-northwest (Figure 2).

Nine holes totalling 1290m have been drilled by previous explorers at Nakru 1, four of which, NAK 001, 002 and 003 and Q74D6, intersected significant mineralisation (Table 1).

Table 1: Nakru 1 Drilling Summary

Hole No	Intercept (m)	Interval (m)	Cu %	Au g/t	Geology
NAK 001	5.6 52.0	0.0 – 5.6 32.0 – 84.0	0.20 0.38	1.90 <0.10	Breccia Volcanic Complex
NAK 002	6.0 16.0 20.0 24.0	0.0 – 6.0 6.0 – 2.0 22.0 – 42.0 62.0 – 87.0	0.032 0.062 0.11 0.23	1.20 0.36 0.11 <0.10	Breccia Breccia Volcanic complex
NAK 003	6.5 94.0 incl 11.2	0.0 – 6.5 91.0 – 185.0	0.14 0.43 0.95	1.33 0.46 2.55	Breccia Volcanic Complex
Q74D6	205.0 incl 16.0 & 74.0 incl 21.0	0.0 – 205.0 57.0 – 73.0 93.0 – 167.0 146.0 – 167.0	0.40 0.67 0.78 1.10	<0.10 0.14 <0.10 <0.10	Breccia + volcanic Volcanic Complex

Nakru 2 Prospect:

At Nakru 2 Prospect (Figure 1), soil sampling, hand trenching and bulldozer trenching has been completed. Nakru 2 appears to be polymetallic copper+gold+zinc+/-(molybdenum) target with copper being the predominant metal. The mineralised area is coincident with a circular structural feature, about 700m in diameter, visible on air photos.

Nakru 3 Prospect:

Nakru 3 Prospect is located approximately 1.7km north of Nakru 1. Reconnaissance rock chip sampling has located values of 5.2g/t gold in a silicified shear zone carrying pyrite and magnetite; up to 2.7% copper in outcropping altered breccia; and 4.9% zinc, 498g/t silver in creek float.

Nakru 4 Prospect:

At Nakru 4 Prospect, which is located about 1.2km northwest of Nakru 1, deep Wacker drilling beneath the young ash cover, which is up to 15.2m thick, defined a semi-coherent anomaly which has dimensions of about 600m x 200-400m. Highlights from the Wacker soil sampling are shown in Table 2.

Table 2: Nakru 4 Prospect: Wacker Drilling Highlights

WIDTH	Au (av) g/t	As (av) ppm	Cu (av) ppm	Au (peak) g/t	As (peak) ppm	Cu (peak) ppm
100m incl 50m 50m 25m 50m	0.21 0.40 0.20 0.1 0.12	73 132 11 21 5	395 365 216 156 124	0.62 0.62 0.21 0.21 0.21	202 202 11 - 5	896 896 251 - 126

Plesyumi Copper-Gold System

The Plesyumi porphyry copper-gold system is located within the Mt Nakru tenement 14km west-northwest of Mt Nakru. Plesyumi was discovered in 1968 and extensively explored, including 21 drill holes, in the early 1970’s. Drilling has identified the local development of a leached cap, and the presence of chalcocite, covellite, cuprite and native copper indicates minor supergene alteration.

At least four centres of mineralisation have been defined within a northeast-trending, elongated zone measuring 4km x 1km. The system has been tested by 21 drill holes totalling 3123m. The best drill intersections were 44m @ 0.85% copper.

Other drill highlights include:
33m @ 0.42% copper, including 10m @ 0.65% copper
110m @ 0.31% copper
152m @ 0.25% copper
101m @ 0.2% copper
192m @ 0.15% copper

Further evaluation of the Nakru 3, 4 and Plesyumi prospects is currently being undertaken, after which a work programme will be developed.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associated Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Nakru Summary & Target Map

Figure 1

Nakru Proposed Drilling

Figure 2

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Drilling & Exploration Activitites Update - Simuku Project - 26 May, 2008

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SUMMARY

216 drilling and trenching samples despatched for assay.
2600m of trenching and access tracks completed.
Third drill rig on-site with another expected in June.

Coppermoly Limited is pleased to announce that at Simuku, hole SMD017 (Site D, Figure 1) has been completed to 177.3m with core dispatched to the laboratory along with trench samples.

Hole SMD019 (Site B) was drilled to 37.6m depth to date and SMD020 (Site C) is being drilled by the recently arrived third rig and is currently at 80m depth.

SMD018 – (Site C) was prematurely terminated at 7m depth due to ground conditions.

It is expected a fourth drill rig will be on-site in June to ensure continuous drilling with minimum disruption from mechanical breakdowns.

A total length of 2200m of trenching/access has been completed to the Magipmo site and 400m of trenching has been completed at Nayam.

The company has also refocused its management team with Doug Hutchison resuming the role of Technical Director. His previous duties as Chief Operating Officer will now be shared between Exploration Manager (Trevor Smith) and the Managing Director, Peter Swiridiuk.

DRILL CORE DESCRIPTION

SMD017 (169716e, 9367804n, vertical, 177.3m depth) has been completed at Tobarum Hill. Observations confirm that we are in a mineralised porphyry system.

Conrad Palaulo, Supervising Geologist for Coppermoly Limited, described the core as follows:

“Some preliminary comments made from the first 50m saw that there are episodic structural events with mineral association as indicated by the crosscutting structures. Oxidation from the surface extends to 10m (0-10m) with weakly leached argillic clay + haematite- quartz+/-pyrite. Structures within the top 30m are stained by bluish/green (malachite and/or antlerite/brochanite). No acid as yet to determine if it is malachite or brochantite/antlerite but it is secondary copper.

Mineralisation is such that the top 10m (0-10m) is oxidised and weakly leached. The next 20m (11-30m) appear to be of quartz – magnetite-pyrite+/-haematite fractures and bluish green fractures. Beyond 30m is primary sulphide especially pyrite–chalcopyrite+/-galena/sphalerite-/+pinkish veins. Chalcopyrites are also in vein as well as disseminates but the latter is common especially where there is silica flooding.

This vertical hole makes it obvious to recognise three crosscutting structures so far. Two are steep to core axis but dipping in opposite directions while the third is shallow to almost flat lying. It appears that the earlier dipping structures are associated with quartz-magnetite-haematite, which is cut by the shallow quartz-stockwork veins. The latter structure is steeply dipping and offsets the earlier ones and is associated with carbonate+/- basemetal-chalcopyrite. In places the earlier steeply dipping structure is remobilised as indicated by chalcopyrite appearing as in fills in the quartz-haematite-magnetite veins/structure.”

TARGET AREA DESCRIPTIONS

Doug Hutchison, Technical Director for Coppermoly Limited, described a review of the Nayam, West Tobarum and Magipmo target areas as follows:

“The high copper values from previous Placer sampling in Nayam Creek are hosted by strongly silicified quartz porphyry, which outcrops along the creek. The porphyry is overlain by strongly leached to partially oxidised quartz-sericite/clay alerted volcanics, exposed in the trenches above Nayam.

Surface scree near the West Tobarum magnetic anomaly (approximately the centre of the “big porphyry” target) consists of magnetic propylitically altered mafic volcanics.

A brief one-day examination of north and central Magipmo indicates widespread silica flooding, a relatively low sulphide content and pyrite much greater than chalcopyrite. Creek exposures are mostly volcanics with local feldspar and feldspar-quartz porphyry.

Magipmo may represent a higher level in the porphyry system and is perhaps down faulted relative to Tobarum/Nayam.”

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 1001
Bernadette Sukkar, Associate Director, Novus Capital Ltd. Phone (02) 9375 0114

Peter Swiridiuk
MANAGING DIRECTOR

Proposed Drilling

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Entitlements Issue Closing Date Extended - 26 May, 2008

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The closing date of the current Entitlements Issue of Options (announced 30 April 2008) has been extended from 3 June 2008 to 12 June 2008 to allow overseas shareholders sufficient time to lodge acceptances.

The new timetable is as follows:

Closing Date                                                          12 June 2008
Deferred settlement trading commences          13 June 2008
Despatch date of holding statements                 19 June 2008

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

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Mailout to Shareholders, Despatch of Prospectus - 13 May, 2008

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A Prospectus containing a 1 for 4 non-renounceable Entitlements Issue of Options at 1 cent each, a copy of which was included in an ASX announcement dated 30 April 2008, was mailed to shareholders today along with personalised Entitlement and Acceptance Forms.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

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Short Form Prospectus - 30 April, 2008

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Lodgement of Prospectus - 30 April, 2008

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As foreshadowed in the IPO prospectus, Coppermoly Ltd has lodged a prospectus with ASX and ASIC containing a 1 for 4 non-renounceable Entitlements Issue of Options at 1 cent to raise a maximum of approximately $205,038. The record date is 9 May 2008 and the issue will close on 3 June 2008.

The funds raised by the Issue will be used to fund the costs of the Issue and to supplement the Company’s working capital.

The attached initial advice to shareholders contains further details and will be mailed to each shareholder on 1st May 2008.

An Appendix 3B in respect of the issue is also attached.

Yours faithfully,
COPPERMOLY LTD

Garry M. Edwards
Company Secretary

Encl.

Dear Shareholder,

NON-RENOUNCEABLE ENTITLEMENT ISSUE

In its prospectus dated 25 October 2007 Coppermoly Ltd (Coppermoly) stated its intention to undertake a non-renounceable entitlement issue of options (Issue) to all Coppermoly shareholders within three months of Coppermoly’s ASX listing.

Coppermoly is pleased to inform you that it will now proceed with the Issue.

A Short Form Prospectus (Prospectus) detailing the Issue was lodged with the Australian Securities & Investments Commission on 30 April 2008. A copy is available on Coppermoly’s website www.coppermoly.com.au and on ASX’s website www.asx.com.au. The Prospectus, with personalised Entitlement and Acceptance Form, is expected to be mailed to shareholders on 13 May 2008.

The Issue does not require shareholder approval. Novus Capital Limited is the broker to this offer.

The Issue

The Issue will be for up to 20,503,822 options on the basis of 1 option for every 4 shares held by shareholders registered or entitled to be registered at 5.00pm Australian Eastern Standard Time on 9 May 2008 at an issue price of 1 cent per option to raise up to $205,038 (before the costs of the Issue).

The “ex” date for entitlements is 5 May 2008, therefore shares purchased on or after 5 May 2008 will not provide the buyer with an entitlement to participate in the Issue. Where fractions arise in the calculation of entitlements, they will be rounded up to the nearest whole number.

Entitlements will be shown on the personalised Entitlement and Acceptance Form which will accompany the Prospectus when it is mailed to shareholders.

Each option is exercisable at an exercise price of 30 cents, at any time on or before 30 April 2011.

Application to ASX for admission of the options to official quotation will be made by Coppermoly within seven days of the date of the Prospectus.

Please read the Prospectus carefully and in its entirety before deciding whether or not to take up your entitlements to options. The offer closes at 5.00pm Australian Eastern Standard Time on 3 June 2008.

Eligible shareholders wishing to participate in this offer should either pay for the relevant amount by BPay (if you have an account with an Australian financial institution) or complete the Entitlement and Acceptance Form in accordance with the instructions set out on the form and forward it together with an Australian dollar cheque or bank draft for the relevant amount to Coppermoly’s share registry, Registries Limited.

Shareholders not wishing to take up their entitlements may not dispose of those entitlements.

Key Dates

SUMMARY OF PRINCIPAL DATES
“Ex” Date for entitlements	5 May 2008
Record Date to determine Entitlements	9 May 2008
Prospectus and Entitlement and Acceptance Forms despatched and offer opening date	13 May 2008
Offer closes – last date for lodgement of Entitlement and Acceptance Forms and payment of application money	3 June 2008
Options issued and holding statements despatched	11 June 2008

If you have any questions regarding your entitlement or the mailing of the Prospectus and the accompanying Entitlement and Acceptance Form, please contact Coppermoly’s share registry on (02) 9290 9600 or +61 2 9290 9600 for overseas callers.

Yours faithfully,

Garry Edwards
Company Secretary

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Quarterly Report - 30 April, 2008

PDF File (1M)

HIGHLIGHTS

Coppermoly Limited successfully closed its Initial Public Offering (IPO) raising approximately $8.0 million.
Track access had been completed for the Simuku project.Diamond core drilling commenced at the Simuku project and intersected a porphyry copper system. Assay results will become available in May.Two diamond core drill rigs already at Simuku with a third rig available in May.Exploration planned to commence at Mt. Nakru at the end of April.Aerial photography flown over both the Simuku and Nakru projects indicated a probable ring fracture pattern at Simuku which is consistent with other data suggesting the presence of a porphyry copper system some 1.5km in diameter. The interpretation at Nakru indicated ring-type features which could be large-scale gold targets associated with breccia pipes.
The management team was strengthened with the appointment of Exploration Manager, Trevor Smith; Logistics Manager, Lloyd Collar; Technical Advisor, Stan Yeaman and Assistant Company Secretary, Maurice Gannon.

1.0 SUMMARY

Coppermoly successfully listed on the Australian Securities Exchange (ASX) on 25 January 2008 having raised just over $8.0 million via an IPO in order to fund its advanced stage copper-gold-molybdenum exploration projects located on the island of New Britain, Papua New Guinea (PNG).The projects, namely Simuku and Nakru, comprise of 3 large systems of which Nakru makes up two systems. Coppermoly’s objective is to define a substantial resource, within at least one of these systems, of grades greater than 0.5% copper equivalent over the next 2 years. With historical and sustained high prices of copper and molybdenum (Figures 1 & 2), Coppermoly Ltd is well placed to build on its assets and progress to the next stage of project development.

Coppermoly’s projects are easily accessible by road and are well located close to essential infrastructure including roads, an airfield and a deep water port. Papua New Guinea contains numerous major copper-gold-molybdenum deposits and produces 65 tonnes of gold and 200,000 tonnes of copper each year. Some of these deposits include the Ok Tedi mine, the former Panguna mine, and the Yandera and Frieda River deposits (Figure 3).

Some of the key points in regard to Coppermoly are listed below. For a complete review of Coppermoly please refer to www.coppermoly.com.au.


Figure 1: Copper Spot Price over the Past 5 Years	Figure 2: Molybdenum Spot Price over the Past 10 Years

Figure 3: Existing Mines in PNG with Simuku and Mt. Nakru Projects

2.0 PROJECT OVERVIEW

Coppermoly has exploration title to three large copper/gold/molybdenum systems, Simuku which is under EL 1077, Mt Nakru and Plesyumi which occur within EL 1043. A third tenement surrounding the Simuku tenement ELA1445-Talelumas is currently under application (Figure 4).

Two of the systems were effectively discovered and first explored by Esso when Chairman, Bob McNeil, was General Manager for Esso Papua New Guinea Inc in the early 1980’s.

Historical exploration completed on the projects includes some 54 drill holes, approximately 40 kms of bulldozer/excavator trenching, further kilometres of hand trenching, aeromagnetics and radiometrics, some geophysical surveys such as induced polarization, extensive auger soil and other geochemical surveys.

The significance of the properties is illustrated by the drill and trench results listed below.

Simuku Project

Mt Nakru Project

Trench Results

78m at 0.133% molybdenum

(including 15m at 0.25% molybdenum)

70m at 0.40% copper

14m at 0.26 g/t gold and 1.03% copper

Drill Hole Results

63m at 0.52% copper and 0.12g/t gold

77m at 0.49% copper and 0.11g/t gold

58m at 0.53% copper and 0.10g/t gold

19m at 0.32% molybdenum and 0.10%

copper (including 7m at 0.60%

molybdenum)

Trench Results

245m at 0.80 g/t gold

45m at 2.50 g/t gold

25m at 1.43% copper

25m at 1.06% copper

4.0m at 6.6% copper

95m at 2.88 g/t gold (including 35 m at

7.26 g/t gold)

42m at 2.70g/t gold (including 3.00 m

at 16.80 g/t gold)

Drill Hole Results

94m at 0.43% copper and 0.46g/t gold

74m at 0.78% copper, including 21m

of 1.10% copper.

Two systems, Simuku and Nakru, have excellent locations. They are well situated for development with road access to the tenements, access to a deep water port, at Kimbe (capital of East New Britain Province), and extensive existing infrastructure and relatively easy logistics (compared to other similar deposits in PNG) in the Kimbe area.

Both the Simuku and Mt Nakru tenements were renewed by the Mineral Resources Authority on 12th December 2007. EL 1043 – Mt Nakru was renewed for two years from 8th December 2006 and EL 1077 – Simuku was renewed for two years from 29th November 2007.

Exploration will commence at Mt. Nakru at the end of April 2008.

An application for ELA Talelumas surrounding the EL 1077 Simuku tenement is currently being processed by the Mineral Resources Authority and will ensure coverage of most of the known mineralisation in the immediate area.

Figure 4: Existing Mines in PNG with Simuku and Mt.Nakru Projects

3.0 EXPLORATION AT SIMUKU (EL 1077)

At Simuku, porphyry style copper-molybdenum-gold mineralisation is known over an area of about 4.5km by 2.2km. More than 23 km of bulldozer trenching and 16 drillholes have defined a large 3,500m by 650m anomalous copper envelope (>1000ppm copper) enclosing an inner anomalous molybdenum envelope (>100ppm molybdenum) (Figure 5). The copper envelope remains open to both the north and south, and additional exploration targets lie outside the presently defined zone.

Several copper-molybdenum drill targets have been defined at Nayam, Tobarum, Misili and Magipmo. Further trenching is planned at Magipmo and Nayam copper targets as well as at the Horseshoe Molybdenum target zone. Initial resource drilling will target the northern end of the >1000ppm copper envelope at Nayam and Tobarum, where the best historical drilling results were obtained.

Results from two drill holes (SMD015 and 016) completed late last year to the south of the Horseshoe molybdenum zone intersected lower grade and erratic molybdenum, compared to those previously intersected in hole SMD014. Recent air photographic studies by Coppermoly’s Technical Advisor, Stan Yeaman, suggest these holes were not located along strike from Horseshoe as previously thought, but were peripheral to a possible silica breccia which is thought to host the molybdenum mineralisation.

Drill holes SMD015 and SMH016 were completed to test what was thought to be an extension to the molybdenum zone intersected in hole SMD014 (19m at 0.32% molybdenum). Unfortunately these holes had relatively poor core recovery and thus may understate the molybdenum content. Hole SMD015 intersected anomalous copper of between 100ppm and 0.21% throughout and appears to have been drilled in rocks peripheral to the main mineralised zone. Hole SMD016, which was terminated at depth of 123m, encountered higher copper and molybdenum values, but not of the order of those in SMD014. The hole is consistently mineralised with most values in the range of 0.05 to 0.1% copper and with a best interval of 10m at 0.17% copper from 106 to 116m downhole. Hole SMD016 had three zones of elevated molybdenum:

71 to 77m, 6m at 0.025% molybdenum (high of 0.055% molybdenum)
93 to 99m, 6m at 0.018% molybdenum
103 to 106m, 3m at 0.019% molybdenum

Hole SMD016 intersected a zone of higher zinc mineralisation, 99m to 103m, 4m at 1.36% zinc. These zinc results indicate that the structure drilled by these holes is probably part of the outer fringe of the porphyry copper system centred some 1,000m to the north. Further follow up drilling and trenching is planned for this molybdenum target area.

Aerial photography was flown to provide detailed photo-grammatic, photo-geological and topographic data. Accurate topographic data is required before a resource estimate can be undertaken at the Simuku or Nakru copper-molybdenum-gold systems.

The 1:10,000 photo geological study has indicated a probable ring fracture pattern in the intruded dacitic volcanics in the vicinity of Mt Tobarum where almost all drilling in past decades was concentrated. The photo interpretation indicates that the focus of the ring fracture pattern is also the approximate centre of the 1.4km-diameter aeromagnetic ‘donut’ which exhibits strongly anomalous copper in drainage samples. The western third of this feature is host to a distinct IP (dipole-dipole array) anomaly. The intrusive contact of well mineralised porphyry (0.6% to 0.7% copper) can be seen in Trench 4. The photo-geological interpretation is therefore consistent with there being a large but untested mineralised and altered intrusive centred about 700m west of drill holes SMD1 and SMD3.

Figure 5: Simuku Prospect showing Copper-Molybdenum envelope

Stage 1 of the Simuku drilling program envisages up to 17 holes, each 150 to 300m in length for a total meterage of approximately 5,000. Several holes could be continued to 500m to test depth extent of the system, if warranted.

Drilling has commenced at site D (Figure 6) at trench four which had 63m at 0.47% copper including 18m at 0.74% copper in quartz porphyry. A second drill rig will begin drilling at site C to target the previous intersection in the lower part of drillhole SMD03 of 50m at 0.5% copper. This will be followed by drilling at site B, which is located near the best historical copper intersections in drill hole and trench.

With the addition of a third drill rig the Horseshoe molybdenum zone will be further targeted at Sites H and I. In the interim several further trenches will be dug to more accurately define the surface extent of significant grade molybdenum mineralisation. Trenching will also be extended to other areas of the Simuku Project.

Figure 6: Simuku Existing and Proposed Drillholes

4.0 EXPLORATION AT NAKRU (EL 1043)

The Mt Nakru project area within EL 1043 encloses two large porphyry copper-gold (molybdenum) systems located at Mt Nakru (Figure 7) and Plesyumi (Figure 4).

At Mt Nakru significant copper and gold mineralisation, along with highly anomalous silver, molybdenum and zinc values, are present within a large, hydrothermally altered, acid-intermediate intrusive-extrusive complex occupying an area of at least 40 sq.km. Mineralisation has been found over an area of at least 1sq.km and four copper-gold prospects (Nakru 1-4) have been discovered.

Figure 7: Mt Nakru prospects showing potential size of targets

Only Nakru 1 Prospect has been explored in detail and drill tested. More than 10km of bulldozer trenching and 12 diamond drill holes have been completed. The best drill intersections include 94m at 0.43% copper, 0.46g/t gold (from 91m); and 205m at 0.4% copper (from surface), including 74m at 0.78% copper (from 93m). The highest copper grades occur at depths below about 60 metres indicating the main copper system may lie below the level currently tested by drilling. Only two of the 12 holes drilled at Nakru 1 Prospect are deeper than 200m and little deep drill testing of the system has been undertaken.

An extensive blanket of gold-mineralised breccia masks much of the underlying copper mineralisation at Nakru 1 Prospect, and is thought to be derived from a younger, explosive, epithermal mineralising event that overprints the earlier porphyry mineralisation. Trench intersections in breccia blanket include 55m at 4.7g/t gold, 51m at 2.2g/t gold and 245m at 0.8g/t gold. Individual mineralised clasts in the breccia contain values of up to 37g/t gold indicating there is potential for higher grade gold mineralisation in the feeder zones at depth.

At Nakru 2 Prospect, bulldozer trenching has exposed significant copper mineralised intervals and local very high copper grades, including 25m at 1.43% copper; 25m at 1.06g/t gold; 4m at 6.6% copper; and up to 19.9% copper in grab samples. No drill testing has been undertaken at Nakru 2 Prospect.

Aerial photography interpretation indicated several ring-type features within the caldera which could be breccia pipes. All of these may be followed-up as possible large-scale gold targets. Some of the world’s largest gold deposits are in breccia pipes associated with collapsed calderas.

An exploration programme is currently being developed with upgrading of track access commencing by the end of April. The programme will initially target previously reported gold intersections in trenches.

5.0 SENIOR STAFF APPOINTMENTS

Coppermoly Limited appointed senior management to further strengthen the Company’s Papua New Guinea operations. The following appointments have been made:

Mr Trevor Smith BApp.Sc (App.Geol), Grad.Dip.Management, MEngSc.Eng.Geol has been appointed Exploration Manager. Mr Smith will be responsible for all aspects of the Company’s exploration operations in PNG. Trevor has over 20 years experience as a geologist and in management.

Mr Lloyd Collar has been appointed Logistics Manager responsible for the Company’s PNG logistical and administrative requirements. Lloyd has over 30 years experience in open cut mining operations, geological survey, infrastructure establishment, process plant installation, heavy machinery and personnel training and supervision.

Mr Stan Yeaman has been appointed as a Technical Advisor to the Company and has a 10% free carried interest in the Simuku project. He has a world-wide experience of metalliferous mineral exploration extending over almost five decades.

Mr Maurice Gannon BSc, MAICD, FAIM has been appointed as Assistant Company Secretary. Maurice has a professional background in earth and environmental sciences and over 20 years experience in business and financial management including financial accounting in the mining and exploration industry.

6.0 CORPORATE

The Company proposes to make an Entitlements Issue of Options approximately three months after the commencement of trading of the Company’s Shares on ASX. Shareholders registered on the applicable record date will be invited to subscribe for Options on the basis of one (1) Option for every four (4) Shares held. The Options will have an issue price of one (1) cent each and an exercise price of thirty (30) cents each and an expiry date of 30 April 2011. The terms and conditions of the Options are summarised in Section 5 of the Coppermoly Prospectus (see www.coppermoly.com.au).

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 2274
Bernadette Sukkar, Associate Director, Novus Capital Limited . Phone (02) 9375 0114

Peter Swiridiuk

MANAGING DIRECTOR

Appendix 5B, Quarterly Financial Report, (PDF 35k)

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Simuku Drilling Commenced - 04 April, 2008

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Coppermoly Limited (COY:ASX) is pleased to announce that diamond core drilling has commenced ahead of schedule with 16.4m being drilled in its first day of operation. As of today the hole depth is at 70.8m.

The location is at Site D (see plan map below and ASX release dated 17 March 2008) at Tobarum Hill at the northern end of the Simuku porphyry copper system. Site D is located at trench four which had 63m at 0.47% copper including 18m at 0.74% copper in quartz porphyry.

A second drill rig is planned to commence this month to further progress the drilling programme of the next holes at A, B, B1 and C (see map plan below).

Stage 1 of the Simuku drilling program plans up to 17 holes, each 150 to 300m depth for a total metreage of up to 5,000m.

AIR PHOTO INTERPRETATION – NAKRU

Aerial photography has been flown to provide detailed photo-grammatic, photo-geological and topographic data. Mr W.S. Yeaman, Technical Advisor, completed an interpretation of the Nakru project area and commented as follows:

“The area studied is the eastern sector of a collapsed large caldera structure. There are several ring-type features within the caldera which could be breccia pipes, and all of these should be carefully followed-up as possible large-scale gold targets. I cannot warrant that I have identified all the prospective ring structures in the area, and therefore the photos should be re-examined where there is a cluster of encouraging creek float or drainage geochem.

Some of the world’s largest gold deposits are in breccia pipes associated with collapsed calderas and these ring structures should be examined from this standpoint.”

Work is expected to start at Nakru by the end of April and will initially target previously reported gold intersections in trenches. A more detailed release will be made at the time of commencement of work.

Opes Prime

In light of the publicity surrounding the collapse of Opes Prime Stockbroking (OPES), the Company wishes to advise that no interest in Coppermoly shares or options are held under any margin lending facilities by Coppermoly Directors.

Based on information obtained from the Receiver and Manager of OPES, 0.01% of Coppermoly’s securities on issue were the subject of agreements between OPES and its customers.

Refer to www.coppermoly.com.au.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 2274
Bernadette Sukkar, Associate Director, Novus Capital Limited . Phone (02) 9375 0114

Peter Swiridiuk

MANAGING DIRECTOR

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Simuku Access Road Completed, Drilling to Re-Commence Early April - 17 March, 2008

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HIGHLIGHTS

Access road construction has been completed for the Simuku Project.

Camp construction is underway and to be completed by the end of March.

Two diamond core drill rigs are available and drilling is planned to commence in the first week of April.

Initial drill holes will focus at the northern end of the Simuku porphyry copper system to provide better knowledge of the depth extent of the system and the lateral extent of copper/molybdenum/gold mineralisation as defined in previous drill holes. A third drill rig is planned to be added to the program in May 2008.

Results from two drill holes completed late last year to the south of the Horseshoe molybdenum zone intersected lower grade and erratic molybdenum. Recent air photographic studies by Coppermoly’s technical adviser, Stan Yeaman, suggest these holes were not located along strike from Horseshoe as previously thought, but were peripheral to a possible silica breccia which is thought to host the molybdenum mineralisation. Further follow up drilling is planned.

Road access to the Mt Nakru Project will become available in the near future. Initial exploration is expected to commence at Mt Nakru in April. The focus in the first instance will be on determining the extent of the previously defined gold mineralisation.

DRILLING PROGRAM - SIMUKU

Stage 1 of the Simuku drilling program envisages 17 holes, each 150 to 300m in length for a total meterage of approximately 5,000m. Several holes could be continued to 500m to test depth extent of the system, if warranted.

Drilling will commence at sites D and B (see plan map below), which are located near the best historical copper intersections in drill hole and trench. For example, hole D is located in Trench 4 which had 63m at 0.47% copper including 18m at 0.74% copper in quartz porphyry.

With the addition of a third drill rig, the Horseshoe molybdenum zone will be further targeted. In the interim several further trenches will be dug to more accurately define the surface extent of significant grade molybdenum mineralisation. Trenching will also be extended to other areas of the Simuku Project.

Aerial photography has been flown to provide detailed photo-grammatic, photo-geological and topographic data. Accurate topographic data is required before a resource estimate can be undertaken.

Mr W.S. Yeaman, Technical Advisor, commented as follows: “At Simuku the 1:10,000 photo geological study has indicated a probable ring fracture pattern in the intruded dacitic volcanics in the vicinity of Mt Tobarum where almost all drilling in past decades was concentrated. The photo interpretation indicates that the focus of the ring fracture pattern is also the approximate centre of the 1.4km-diameter aeromagnetic ‘donut’ which exhibits strongly anomalous copper in drainage samples. The western third of this feature is host to a distinct IP (dipole-dipole array) anomaly. The intrusive contact of well mineralised porphyry (0.6% to 0.7% Cu) can be seen in Trench 4. The photo-geological interpretation is therefore consistent with there being a large but untested mineralised and altered intrusive centred about 700m west of drill holes SMD1 and SMD”.

DRILL RESULTS FOR SMH015 AND SMH016

Drill holes SMH015 and SMH016 were completed in late 2007 (see ASX Release dated 31 January 2008) to test what was thought to be an extension to the molybdenum zone intersected in hole SMH014 (19m at 0.32% molybdenum). Unfortunately, these holes had relatively poor core recovery and thus may understate the molybdenum content. Hole SMH015 intersected anomalous copper of between 100ppm and 0.21% throughout and appears to have been drilled in rocks peripheral to the main mineralised zone. Hole SM016, which was terminated at depth of 123m encountered higher copper and molybdenum values but not of the order of those in SMD014. The hole is consistently mineralised with most values in the range of 0.05 to 0.1% copper and with a best interval of 10m at 0.17% copper from 106 to 116m downhole. Hole SMO016 had three zones of elevated molybdenum:

71 to 77m, 6m at 0.025% molybdenum (high of 0.055% molybdenum)
93 to 99m, 6m at 0.018% molybdenum
103 to 106m, 3m at 0.019% molybdenum

As mentioned above, these values may be understated due to poor core recovery and the fact that in such circumstances molybdenite tends to be “washed out”. In addition, hole SMD016 intersected a zone of higher zinc mineralisation, 99m to 103m, 4m at 1.36% zinc. These zinc results indicate that the structure drilled by these holes is probably part of the outer fringe of the porphyry copper system centred some 1000m to the north.

The results from holes SMH 15 and 16, as stated above, and including the zinc mineralisation, are interpreted to suggest that both these holes are peripheral to the main copper/molybdenum mineralisation.

Drill samples were half core, sawed on site and shipped to ALS-Chemex laboratories in Townsville for assay. The molybdenum results quoted are by pressed powder XRF.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 2274

Bernadette Sukkar, Associate Director, Novus Capital Limited . Phone (02) 9375 0114

Peter Swiridiuk

MANAGING DIRECTOR

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COPPERMOLY Stregnthens Management Team - 17 March, 2008

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Coppermoly Limited is pleased to announce the appointment of senior management which will further strengthen the Company’s Papua New Guinea (PNG) operations. The following appointments have been made:

Mr Trevor Smith BApp.Sc (App.Geol), Grad.Dip.Management, MEngSc.Eng.Geol has been appointed Exploration Manager. Mr Smith will be responsible for all aspects of the Company’s exploration operations in PNG. Trevor has over 20 years experience as a geologist and in management, having worked as exploration manager in the Highlands of PNG for Minorco (Anglo American subsidiary) in the 1990’s. Other previous roles include senior geologist with international diamond group DeBeers, where he was instrumental in the discoveries of diamondiferous pipes. More recently, he was an associate for the Coffey Group, overseeing major geotechnical investigations for multi-million dollar projects including the Gateway bypass in Brisbane, Australia. Trevor will report to the Chief Operating Officer in administrative and technical matters.

Mr Lloyd Collar has been appointed Logistics Manager responsible for the Company’s logistical and administrative requirements. Lloyd has over thirty years experience in open cut mining operations, geological survey, infrastructure establishment, process plant installation, heavy machinery and personnel training and supervision. He has operated throughout Australia, Tanzania and PNG. Lloyd is a registered mine manager and was involved in the development of Mt Morgans and New Celebration Mines for Newmont (Newcrest) in Western Australia.

Mr Stan Yeaman has been appointed as a Technical Advisor to the Company and has a 10% free carried interest in the Simuku project. He is a Fellow of the AusIMM and has a world-wide experience of metalliferous mineral exploration extending over almost five decades. Most of his experience was in copper exploration, project analysis, feasibility and development. He was trained in porphyry copper geology by the Kennecott Copper Corporation Inc., now part of Rio Tinto, and much of his professional experience was on porphyry copper exploration in Australia, North America and Argentina. Other major corporations with whom he has held exploration and executive positions include Anglo American Corporation and BP. His early recognition of the potential of Olympic Dam resulted in BP’s joint venture in it with WMC in the 1980s. His interest in the Simuku project dates from its inception in the mid-1990s when he personally funded the application for the tenement in association with Mr McNeil. Mr Yeaman brings to the Company specialised geological understanding and experience directly relevant to the types of mineral deposits being examined by Coppermoly.

Mr Maurice Gannon has been appointed as Financial Controller and Assistant Company Secretary. Maurice has a professional background in earth and environmental sciences and over twenty years experience in business and financial management including financial accounting in the mining and exploration industry. Amongst other qualifications he also holds a Bachelor of Science degree. He is an Affiliate Member of the Australian Institute of Chartered Secretaries, an Associate Fellow of the Australian Institute of Management, and a Member of both the Australian Institute of Company Directors and AMPLA – the Australian Resources and Energy Law Association

“We are pleased and fortunate to have these qualified individuals join the Coppermoly team. With their wealth of experience we believe they will add much value to Coppermoly’s operations and future success.” said Peter Swiridiuk, Managing Director.

For further information please contact:

Peter Swiridiuk, Managing Director Coppermoly Ltd. Phone (07) 5592 2274

Bernadette Sukkar, Associate Director, Novus Capital Limited. Phone (02) 9375 0114

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Allotment of Securities - 14 March, 2008

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ALLOTMENT OF SECURITES

ASX Announcement

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

Garry M. Edwards
Company Secretary

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Simuku & Mt Nakru Tenement Renewed - 31 January, 2008

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PROPOSED ENTITLEMENTS OPTIONS ISSUE

The Papua New Guinea Mineral Resources Authority have notified the Company that EL1043, Mt Nakru, has been renewed for two years to 7 December 2008, and EL 1077, Simuku, has been renewed until 28 November 2009.

Shareholders are reminded that the Company proposes to make an entitlements issue of Options approximately three months after the commencement of trading of the Company’s Shares on ASX. Shareholders registered on the applicable record date will be invited to subscribe for Options on the basis of one (1) Option for every four (4) Shares held. The Options will have an issue price of one (1) cent each, an exercise price of thirty (30) cents each and an expiry date of 30 April 2011. The terms and conditions of the Options are summarised in Section 5 of the Coppermoly Prospectus (see www.coppermoly.com.au.).

R.D.McNeil

CHAIRMAN

Coppermoly Limited

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Coppermoly Lists on ASX and to Commence Resource Definition Drilling - 31 January, 2008

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MOLYBDENITE INTERSECTED IN TWO DRILL HOLES

Coppermoly Limited, which lists on the Australian Securities Exchange today, has completed two drill holes intended to extend the known molybdenum mineralisation at its Simuku Project on New Britain island, Papua New Guinea. Molybdenite (a mineral which contains molybdenum) was intersected in both holes and assays are expected in approximately four weeks. Further details of the drilling are provided in this release.

The company will commence resource definition drilling at both the Simuku and Mt Nakru copper/gold/molybdenum projects with the main objective of defining resources within 18 months.

Peter Swiriduik, Managing Director commented: “We have two drill rigs immediately available to start drilling once upgraded and extended camp facilities are in place. Two excavators and two bulldozers are being scheduled to assist in drill road preparation, trenching and access and by mid-year, we expect to have four drills operating.

Coppermoly’s management team has extensive experience in Papua New Guinea. Bob McNeil, Chairman, was previously General Manager for Esso in Papua New Guinea in the 1980’s, and Doug Hutchison, Chief Operating Officer, has more than 30 years experience in Melanesia, including Papua New Guinea.” Mr Swiridiuk added.

Chairman Bob McNeil, who is also Chairman and CEO of the company’s largest shareholder, New Guinea Gold Corporation, which is listed on the Toronto Venture Exchange,(TSX-V:NGG) said Coppermoly was fortunate to have the benefit of considerable early exploration. “These are very exciting projects. Extensive preparatory and exploration work, totalling in excess of AUD$20 million in today’s dollars, has been completed by past explorers including Esso and New Guinea Gold Corporation. With today’s higher metal prices compared to that of the 1990’s and $8.0 million cash in the bank, Coppermoly is in an excellent position to develop these projects with the aim of developing at least one of the porphyry deposits to pre-feasibility stage within 18 to 24 months.

Coppermoly’s projects have several compelling advantages:

Location – excellent location with road/track access, close to infrastructure including port and jet airport, and relatively easy tailing disposal. This will ultimately lead to lower exploration costs, lower capital requirements for development and lower mine operating costs.

The extensive exploration already completed includes over 40 kms of bulldozer/excavator trenching and more than 50 drill holes. This drilling and trenching suggests the systems are very large – with alteration over more than 10 sq kms at each project – and likely to contain widespread copper and gold mineralisation comparable to other porphyry copper systems in Papua New Guinea.

The two projects have separate gold and/or molybdenum potential which may be amenable to early development. At Mt Nakru, trench results included 35m at 7.26g/t gold and 42m at 2.70g/t gold including 3.0m at 16.8g/t gold. At Simuku, trench results include 78m at 0.133% molybdenum and drill results 19m at 0.32% molybdenum and 0.10% copper.”

The geological potential of the properties is illustrated by the drill and trench results listed below.

Simuku Project

Mt Nakru Project

Trench Results

78m at 0.133% molybdenum

(including 15m at 0.25% molybdenum)

70m at 0.40% copper

14m at 0.26 g/t gold and 1.03% copper

Drill Hole Results

63m at 0.52% copper and 0.12g/t gold

77m at 0.49% copper and 0.11g/t gold

58m at 0.53% copper and 0.10g/t gold

19m at 0.32% molybdenum and 0.10% copper (including 7m at 0.60% molybdenum)

Trench Results

245m at 0.80 g/t gold

45m at 2.50 g/t gold

25m at 1.43% copper

25m at 1.06% copper

4.0m at 6.6% copper

95m at 2.88 g/t gold (including 35 m at 7.26 g/t gold)

42m at 2.70g/t gold (including 3.00 m at 16.80 g/t gold)

Drill Hole Results

94m at 0.43% copper and 0.46g/t gold

74m at 0.78% copper, including 21m of 1.10% copper.

Papua New Guinea has one of the worlds most dynamic tectonic zones that offer the potential of very large mineral deposits that typically continue at depth.

All drill and trench information is available at www.coppermoly.com.au or www.newguineagold.ca

Simuku Molybdenum Drill Core Description – Holes SMH015 and SMH016

Two drill holes have been completed in the Misile Hill – Horseshoe area at the Simuku Project. Both holes were located at 169456E/936791N. SMH015 was drilled on an azimuth of 270ºM, inclination of -70º to a depth of 50.8m. Hole SMH016 was drilled at an azimuth of 023ºM, inclination of -60º to a depth of 123.1m. These holes are approximately 250m south of the SMH014 which intersected 19m from surface of 0.32% molybdenum.

Conrad Palaulo, Supervising Geologist for Coppermoly Limited, described the core as follows: “The first 20m (0-20m) of hole SMH015 consists of strongly oxidised fractured brecciated argillic over phyllic altered dacite porphyry with pyrite, chalcocite, molybdenite and hematite disseminates. Silicified clasts have hematite quartz stock-work veining.

From 20m to 35m, the core consists of silicified phyllic altered dacite to feldspar dacite porphyry with fine hairline pyrite and quartz veinlets with chalcopyrite, molybdenite +/- chalcocite crystals associating along the veinlets mostly as dissemination. Within this zone are narrow sheared fault zones consisting of puggy gray clay plus sulphides and quartz plus feldspar dacite porphyry clasts with fine disseminated molybdenite and pyrite (5-10%) with chalcopyrite/pyrite/molybdenite veins. The geology is similar to that logged for SMH014 (100m) drilled 250m to the North.

In hole SMH016 the first 15m (0-15m) consists of strongly oxidised, argillic altered, brecciated to friable silicified fragments of dacite porphyry with oxidized clay and sandy material comprising quartz, chalcocite, hematite, minor jarosite, +/- pyrite.

From 15m through to 25.80m is argillic over phyllic altered, brecciated friable dacite porphyry fragments and clasts with oxidized clay, brecciated intervals of dacite porphyry in parts. The interval comprises of pyrite mostly in disseminated form, chalcocite, molybdenite, limonite (hematite) staining with minor quartz hematite stockwork along the brecciated units in this interval. Oxidation is generally strong from top of the hole down to the contact where it is mostly fracture controlled at 25m.

The entire hole is brecciated with angular – sub-angular quartz-dacite porphyry fragments within clast –clay supported matrix. Sulphide mineralisation is mostly pyrite in a disseminated form +/- chalcocite molybdenite (1-2%). Below the oxidation zone (0-25m) is strong to moderately silicified with quartz stock work/veinlets +/- chalcocite +/- molybdenite +/-chalcopyrite. Epithermal textured quartz is present in places as fracture fills. Chalcocite content decreases from this interval mostly in disseminated form, after 50m and gradually diminishes. Molybdenite generally appears as disseminates.”

For further information please contact

Bob McNeil, Chairman Coppermoly Limited,
(07) 5592 2274, or

Brian Mahoney, FCR (Financial & Corporate Relations)
(02) 8264 1002 or

Bernadette Sukkar (Associate Director) Novus Capital Limited,
(02) 9375 0114.

The information in this report that relates to Exploration Results is based on information compiled by Bob McNeil, who is Fellow of the Australian Institute of Mining and Metallurgy. Bob McNeil is employed by Macmin Silver Ltd and New Guinea Gold Corporation.

Bob McNeil has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Bob McNeil consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

R.D.McNeil

CHAIRMAN

Coppermoly Limited

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