Khayyam Minerals Ltd. Shareholders Approve Private Placement with Kincora Copper Limited

1158 – 409 Granville Street Vancouver, BC V6C 1T2

KHAYYAM MINERALS LTD. SHAREHOLDERS APPROVE PRIVATE PLACEMENT WITH KINCORA COPPER LIMITED

Vancouver, British Columbia, May 5, 2014 – Khayyam Minerals Ltd. (“Khayyam”) (TSXV: KYY.P) and Kincora Copper Limited (“Kincora”) (TSXV: KCC) are pleased to announce that Kincora’s previously announced private placement with Khayyam (the “Private Placement”) received overwhelming approval by shareholders of Khayyam at its shareholders meeting held on May 5, 2014. The companies will settle the final terms of the Private Placement as soon as practicable and anticipate closing the transaction on or about May 9, 2014 (the “Closing”). A further announcement will be made once the final terms of the Private Placement have been settled.

The transaction constitutes Khayyam’s Qualifying Transaction pursuant to the policies of the TSX Venture Exchange (the “Exchange”).

Upon completion of the Private Placement, Khayyam intends to distribute the Kincora Shares and Kincora Warrants held by it to its shareholders on a pro-rata basis as a return of capital. The Khayyam shareholders of record as of March 25, 2014 will be eligible to receive the Kincora Shares and Kincora Warrants, in proportion to the number of common shares of Khayyam held by them on such record date. The Kincora Shares and Kincora Warrants to replace the common shares Khayyam held by the Khayyam seed investors will be deposited in escrow with Computershare Investor Services Inc. pursuant to the policies of the Exchange.

As soon as practicable after the return of capital described above, Khayyam expects to delist its common shares from trading on the Exchange and complete a voluntary dissolution in accordance with Business Corporations Act (British Columbia).

Further details of the transaction, the return of capital and the subsequent dissolution of Khayyam can be found in the management information circular of Khayyam dated March 24, 2014 which is available at www.SEDAR.com.

Statements in this press release regarding Khayyam’s or Kincora’s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as terms and completion of the Transaction. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular prepared in connection with the Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

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The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

For further information please contact:

Robert Anderson, CA Chief Financial Officer Khayyam Minerals Ltd. and Kincora Copper Limited Telephone: 604 638-3951 E-mail: [email protected]

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