ASX Announcement
18 March 2015

Taxation Advice Update

Copper Strike Limited (ASX: CSE, "Copper Strike" or "the Company") is pleased to advise that further to its announcement to the Australian Securities Exchange on 30th October 2014 entitled "Value of CSE's investments in SYR", and the updates provided in its September
2014 and December 2014 Quarterly Activities Reports, the Company advises that it has now received written confirmation from the Australian Taxation Office in regards to the issue of generating and utilising franking credits from the proceeds of a potential disposal of its Syrah shares.
For the Company to generate sufficient franking credits in order to pay a fully franked dividend the Company must:
i) dispose of the Syrah shares in the income tax year prior to the income tax year that it franks a dividend; and
ii) return the proceeds as cash and not as an in-specie distribution.
The Company believes that all investors should be given the opportunity to understand the possible taxation consequences of a potential future disposal of the Syrah shares. Copper Strike believes that a franked dividend would be in the best interest of all shareholders.
The Company would like to reiterate that there are no plans to sell or otherwise dispose of the Syrah shares at this time.

Yours faithfully
Tom Eadie
Chairman

COPPER STRIKE LIMITED

Registered Office

Copper Strike Limited ABN 16 108 398 983

Level 9 - 356 Collins Street Melbourne Victoria 3000 Australia

Ph 03 96400955 Fax 03 96420698 email [email protected]

www.copperstrike.com.au