Exploration Update – Drilling Commenced at Bronze Fox

The 2014 field season programme has been designed, and is funded, to primarily advance and test a number of large scale copper porphyry targets focused at the West Kasulu, Sophie North and Leca Pass prospects situated around the Bronze Fox Intrusive Complex (“BFIC”). The BFIC is located on our wholly owned 15000X exploration license and does not cross into any neighboring licenses. A detailed exploration review, including initial designed drill holes, has taken place by senior executive management during recent weeks in Ulaanbaatar following various ground truthing site visits and integration of known geology and geophysics. Drilling activities will focus on areas of known mineralization that remain largely untested with subsequent Induced Polarization (“IP”), alternation and/or fertility analysis assisting vector to areas of potential high grade mineralization. Such targets include the last hole drilled in December 2012, F72, which returned localized copper of +4% on the periphery of a then untested IP chargeability high and in the western region, approximately 1km along strike, of previous drilling at the West Kasulu prospect.

Kincora is pleased to also announce the appointment of Henry Tebar as Principal Geologist as well as the addition of a number of high quality local geologists to our existing team. Henry has extensive copper and base metals exploration experience in various emerging and frontier countries, with proven porphyry orebody discovery experience. Henry is familiar with Bronze Fox via his previous role as President and Chief Geologist of the Trafigura Origo Joint Venture in Mongolia, has extensive knowledge of various regional opportunities and has an existing working relationship with Kincora’s Director of Exploration, Yawen Cao. Following a detailed tendering process, Kincora has signed Major Drilling LLC as its drilling contractor. Major Drilling is widely regarded as the leading drilling contractor in Mongolia in terms of experience, team and safety with current excess capacity in-country. Two UDR1500 Multi-Purpose and one 685 Schramm Reverse Circulation (RC) rigs have been mobilized with the team from Oyu Tolgoi, to Bronze Fox, with RC pre-collars planned before diamond drilling at most copper porphyry targets.

Trenching activities have also commenced at the Happy Geo prospect following promising recent surface sample results and corresponding integrated geophysical analysis. Further details on the Happy Geo prospect are provided on the following page.

Commenting on today’s announcement, Sam Spring, President and CEO of Kincora, said:

“The last quarter has been a busy period for the Company setting the foundation for an exciting stage with exploration and drilling activities recently commencing. Kincora has a unique mix of experienced geologists, drillers, senior management and is exploring one of the most advanced and prospective copper projects in Mongolia, as we look to replicated a similar programme to that successfully executed in 2001 by the then Ivanhoe Mines (now Turquoise Hill Resources) which led to the “discovery hole” at Oyu Tolgoi.

The primary focus remains large-scale copper porphyry targets that have been actively advanced in the last 18 months since we last drilled at Bronze Fox, where we previously returned very promising results.

Furthermore, the gold potential across the project is being pursued, noting that approximately a third of all holes previously drilled at Bronze Fox have returned intervals of at least 1g/t gold, with activities focused on the Happy Geo prospect where no previous drilling has taken place, consistent high grade surfaces have been returned with favourable corresponding geophysics. Other corporate initiatives to add shareholder value are being advanced following the private placement.”

The Company will continue to inform the market of its exploration progress.

Happy Geo

The Happy Geo prospect is a 2x7 km structurally controlled east-west corridor in the southern half of Bronze Fox. Previous exploration work has identified outcropping gold veins (from rock chip grab and soil grid sampling), cutting a folded and faulted Upper Carboniferous clastic sequence and this region is to the south of a large fault which separates the more advanced copper porphyry targets to the north. Two zones of suboutcrop, both with at least a 1-1.5km strike, have been identified at Happy Geo with favorable rock chip samples. The prospect registers both high chargeability and low resistivity signatures at relatively shallow depths. In particular, the area (1km²) to the northeast corner of Happy Geo called Altan Undes (or Golden Root) has consistently returned highly anomalous gold values (from 0.3 up to 91.6g/t Au, averaging 8.6- 20.2g/t Au) from grab samples, including coincident Au and As soil anomalies.

Following the very high and large chargeability anomalies identified by the Search 3D IP survey in 2013 and 2D IP undertaken in 2012, a further 68 rock samples were collected from various alteration zones focused around the Happy Geo prospect earlier in the year. Plus Minerals’ short wave infra-red (SWIR) spectrometer analysis of the 68 recent samples confirmed zones of argillic, sericitic and silicification alteration with pyrite coincident with the IP chargeability anomalies. The SWIR analysis indicates alteration maybe related to an underlying porphyry system but further analysis is ongoing to confirm this and explore its potential for a near surface shear-gold orebody(s).

Kincora geologists recently also concluded a further orientation survey at Happy Geo, which confirmed the reported high gold tenor here (from 0.01 up to 20.2g/t Au, averaging 5.1-10.1 g/t Au). Follow-up detailed mapping and trenching is ongoing, initially focusing on a 550 m strip of the exposed shear zone at Altan Undes with a focus on at or near surface gold potential.

For further information, please contact:

Sam Spring, President and Chief Executive Officer [email protected] +61431 329 345 http://www.kincoracopper.com

Qualified Person

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s geological staff under the supervision of John Rickus, Chairman and Director of Kincora Copper, who is the Qualified Person for the purpose of NI 43-101.

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

About Kincora Copper Limited:

!

FUNDED FOR 2014 FIELD SEASON ACTIVITIES

Successful proof of concept activities in 2014 could provide visibility for significant copper-gold resource potential in a corridor that most industry experts expect will emerge with multiple significant new discoveries in the upcoming years

Kincora Copper Limited (“Kincora”) (TSXV : KCC) is based in Vancouver and Ulaanbaatar, is listed on the TSX Venture • Drilling at Bronze Fox in 2014 is planned and funded Exchange and was formed in mid 2011. Kincora’s ambition is based on extremely promising previous drill results, new geophysical and other “long lead” time / technical to be the leading listed independent exploration and development company in the Oyu Tolgoi South Gobi porphyry activities undertaken in 2013. A follow up phase of copper belt in South-East Mongolia. target drilling in 2001 at Oyu Tolgoi focused on similar untested geophysical targets, with often-supportive Our flagship asset is the wholly owned Bronze Fox license previous drilling, and led to the “discovery hole”. situated 250km from the Chinese border and ~140km along Successful proof of concept activities in the upcoming Oyu Tolgoi mineralization structural corridor and ~40km from field season at Bronze Fox could provide visibility for Tsagaan Suvarga (with potential cross cutting faulting). The significant copper-gold resource potential.

immediate region is one of the most rapidly developing mining centres anywhere in the globe despite being one of the last

BRONZE FOX: IN THE CENTRE OF A PROVEN underexplored frontiers and a productive copper porphyry belt.

PRODUCTIVE COPPER PORHYRY CORRIDOR

OVERVIEW OF RECENT DEVELOPMENTS

Kincora completed one of the most active copper exploration programmes in Mongolia during 2013, on one of the most advanced, prospective and youngest licenses.

• Field season activities resulted in positive findings from three independent consultants advancing and refining multiple bulk tonnage copper porphyry targets which are now drill ready.
• >12 months since our last drilling results were announced, which included very encouraging higher grade (localized +4% Cu in our last hole) and broad lower grade (eg +800m @ +0.40%CuEq, including 37m @ >1% CuEq)

intersections. Lack of exploration results has created a void of positive news flow until the last couple of months.

• >12 months of volatility and uncertainty relating to Mongolia and ~$7m write-off in Sept’13 accounts relating to unresolved 106-license issue has distracted from the fundamental value of Bronze Fox. Early and increasing indications of positive Government reform to provide a stable and attractive environment for private sector activities suggests possible inflection point. Kincora is ! Nine targets each with at least +1-2km strike Induced proactively seeking to work with appropriate Government of Polarization (“IP”) anomalies, identified for 2014 Mongolia authorities to achieve a win-win solution for the often with supporting geology & geophysics, de- 106-license issue. risked to the stage of drilling at Bronze Fox
• Management and board with proven technical, commercial ! Oyu Tolgoi, one of the worlds largest porphyries, is and financial markets experience, years of background in

ten deposits/discovery zones consistent with +1- Mongolia, with all directors acquiring stock on market during

3km strike IP anomalies discovered by a similar the last six months and strong insider participation in the

exploration approach

recently completed private placement offering. Recent appointment of Mr Cameron McRae to Advisory Board, INFORMATION AVAILABLE previous President & CEO of Oyu Tolgoi, overseeing the CORPORATE PRESENTATION development of a world-class copper-gold porphyry deposit under the “Corporate Presentation” section of the website and the largest singling mining investment project in northeast Asia. PROACTIVE INVESTORS & BLOOMBERG TV INTERVIEW under the “Events” section of the website

ResCap & MIBG RESEARCH – KINCORA UPDATE under the “Research” section of the website

Qualified)Person)

The$scientific$and$technical$information$in$this$news$release$was$prepared$in$accordance$with$the$standards$of$the$Canadian$Institute$of$Mining,$ Metallurgy$and$Petroleum$and$National$Instrument$43>101$–$Standards$of$Disclosure$for$Mineral$Projects$(“NI$43>101”)$and$was$reviewed,$verified$ and$compiled$by$Kincora’s$geological$staff$under$the$supervision$of$John$Rickus,$Chairman$and$Director$of$Kincora$Copper,$who$is$the$Qualified$ Person$for$the$purpose$of$NI$43>101!

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