Ann: Large Scale Cu-Ag Formation Results from SFR Collaboration, page-2

Cobre Limited (ASX: CBE, Cobre or Company) is pleased to announce initial results from the recently
completed Airborne Gravity Gradient Survey (AGG) undertaken collaboratively with Sandfire
Resources Ltd (ASX: SFR, Sandfire Resources) over several of Cobre’s priority project areas in the
Kalahari Copper Belt, Botswana.

Results of the survey have significantly enhanced and aided
exploration targeting with modelling demonstrating:

• Key features associated with sedimentary copper deposits identified including:

o Potential sub-basins in each of Cobre’s project areas,
o Major bounding structures providing pathways for copper bearing fluids;
o Large-scale folding where the hinge zone trap-sites are preserved.
• Discrete shallow dense targets with associated anomalous copper showings providing followup drill targets; and
• Evidence for discontinuities/contrasts in the footwall rocks which may control the position of
high-grade copper-silver zones.

Results from the AGG will support the generation of future drill programs and will feed into the work
to be done during the BHP Xplor program (see ASX announcement 23 January 2024).

Commenting on the AGG results, Adam Wooldridge, Cobre’s Chief Executive Officer, said:
“The AGG results are proving enormously useful as a targeting tool and we expect the data to form an
integral part of our next phase of exploration. We’re particularly encouraged by the potential of the
method for highlighting preserved fold hinge trap-sites which we believe to hold the key for Tier 1
deposits in the KCB.”