ASX Release ASX Code

29 October 2015 CSE

QUARTERLY REPORT ON ACTIVITIES

July to September 2015

Overview

During the September 2015 quarter, Copper Strike Limited (ASX: CSE, 'Copper Strike' or 'the Company') renounced its entitlements in the Syrah Resources Institutional Entitlement Offer. The renounced entitlements were sold via the institutional bookbuild, with the proceeds from the sale in excess of the Offer Price returned to renouncing shareholders. Copper Strike received proceeds of approximately $578,948 on 13th August 2015 in relation to the renounced entitlements.

Subsequent to the end of the quarter, Keybridge Capital Limited (ASX: KBC) announced that it had become a substantial shareholder in Copper Strike, with 6.25% of the Company's shares.

Copper Strike currently has no exploration interests and is not currently pursuing any project generation work.

Syrah Shareholding

During the Quarter, Copper Strike enunciated its strategy with respect to its shareholding in Syrah Resources Limited (ASX: SYR). The Company is pleased with progress being made at Syrah in relation to its Balama Graphite Project. Copper Strike owns 11 million shares in Syrah, which is a holding of just under 5%.

The Company notes that Syrah raised $211 million in equity capital via an underwritten placement and rights issue. This raising allows Syrah to progress immediately into construction of its mine, processing plant and associated infrastructure to ensure production is targeted for early 2017.

Copper Strike strongly supports the Syrah strategy in relation to the development of the Balama Project and furthering studies in relation to its proposed spherical graphite processing facilities in the United States and Mozambique and its proposed vanadium processing facility at Balama.

Copper Strike believes that the share price of Syrah has considerable upside now that the equity capital raising has been completed, construction commences and Syrah releases further details in relation to its dealings with its offtake partners and other

Registered Office

Copper Strike Limited ABN 16 108 398 983

Level 4 - 100 Albert Road South Melbourne Victoria 3205 Australia Ph 03 96927222 email [email protected] www.copperstrike.com.au

stakeholders. As such the directors are of the view that it is in shareholders' best interests for the Company to continue to hold this investment to ensure that the potential upside in relation to the development of the world class Balama Project is reflected within the Syrah share price.

Administration

Expenditure for the Quarter was $96,000. As of 30 September Copper Strike had approximately $990,000 in the bank. Expenditure going forward is expected to be approximately $100,000 per Quarter, which excludes possible further one off items.

The registered office and principal place of business of the Company have changed to the following:

Copper Strike Limited Level 4

100 Albert Road

South Melbourne, Victoria 3205 Australia PH: (03) 9692 7222 Fax (03) 9077 9233

Website www.copperstrike.com.au

Shareholders may also wish to contact the Chairman, Tom Eadie, directly on 0419 880 333 or [email protected].

Corporate Details

Issued Capital 106,844,810 shares Share Price $0.22 (28 October 2015) Directors and Management

Mr Tom Eadie - Non Executive Chairman Mr Brendan Jesser - Non Executive Director Mr Mark Hanlon - Non Executive Director Ms Melanie Leydin - Company Secretary

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Appendix 5B Mining exploration entity quarterly report

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

Rule 5.3

COPPER STRIKE LIMITED

ABN Quarter ended ('current quarter')

16 108 398 983

30 SEPTEMBER 2015

Consolidated statement of cash flows

*The proceeds referred to in section 1.9(b) above, relate to Copper Strike having renounced its entitlements in the Syrah Resources Institutional Entitlement Offer during the quarter.

+ See chapter 19 for defined terms.

30/09/2015 Appendix 5B Page 1

Appendix 5B

Mining exploration entity quarterly report

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

Current quarter

$A

Salaries and Superannuation paid to director related entities during the September 2015 quarter.

Non-cash financing and investing activities

Nil

+ See chapter 19 for defined terms.

Appendix 5B Page 2 30/09/2015