Kincora welcomes cornerstone investor and makes board changes

• The Bloomfield Group participated in the recently completed A$2.4 million raising and increased its equity share to a 12.9% interest which is the largest shareholding in Kincora
  
  
• Luke Murray is appointed to the Board as a non-executive director
  
  
• Lewis Marks stands down from the Board, remains an advisor

MELBOURNE, March 9, 2023 - Kincora Copper Ltd. (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to welcome The Bloomfield Group as our largest shareholder and the lead investor in the recently completed A$2.4 million raising which increased its shareholding to 12.9%. The Bloomfield Group is a longstanding privately owned Australian mining and engineering group of companies.

Luke Murray, Chief Operating Officer of The Bloomfield Group, joins the Company's board as a non-executive director and brings senior executive experience in open cut mining, processing, logistics and permitting in New South Wales to the Kincora team. Concurrently, Lewis Marks has stepped down as a non-executive director, but remains as an advisor to the Company.

Chairman Cameron McRae, commented:

"We are very pleased to strengthen our relationship and welcome The Bloomfield Group as our largest shareholder. The group has an excellent and longstanding track record and network within the NSW resource sector.

It is a pleasure to welcome Luke to the Board. He has a unique and high calibre skill set, and is very well positioned to complement our team and add value.

On behalf of the Company, I would like to thank Lewis for his 4 years of service on the Board and for his continued input to Kincora going forward as an advisor."

Mr. Luke Murray brings to the Kincora team current broad senior management experience in mine planning, operations, processing, logistics, approvals and regulatory compliance in NSW mining.

Luke holds a Bachelor of Mining Engineering from the University of NSW and a Masters in Applied Finance from the University of Newcastle. He is a graduate of the Australian Institute of Company Directors, a member of the Mine Managers Association of Australia, and contributes to the development of emerging leaders by acting as an examiner of candidates for the qualification of Open Cut Mining Engineering Manager in NSW.

Luke is currently Chief Operating Officer of The Bloomfield Group. He is responsible for safe, efficient, low cost production from two open cut coal mines and an engineering, machining and fabrication business and for the successful execution of group capital projects.

Kincora's total issued ordinary shares post the recently completed raising is 166,471,542.

This announcement has been authorised for release by the Board of Kincora Copper Ltd. (ARBN 645 457 763)

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

SOURCE Kincora Copper Ltd.