Ann: Cancellation of EGM and Section 249D Notice , page-6

re: Ann: Cancellation of EGM and Section 249D... I offer a clarification received by e-mail from Stan as pasted below. I have a significant holding in COY and also support Vangold's effort to clean up the board. We need strong leadership and quality geologists to lead this company. We have quality assets and the potential to reach heaps more than what these salesmen are try to sell us out for. I quote Stan Yeaman

"I discussed things with Peter. Peter says Hot Copper chat is saying this is Vangold seeking control on the cheap. This is absolute nonsense, and if you are into Hot Copper, you should say so. At the end of this 249D, Vangold will have only one director out of four. How can this possibly be construed as ‘seeking control’? Why should Coppermoly’s largest single shareholder not have a board seat?

I am offering my services purely to bring some useful experience to the board and to look after the interests of many investors and me. I am most definitely not any puppet for Vangold or representative of Vangold’s interests. I am joining Vangold simply because we have a common interest in advancing the fortunes of Coppermoly. I am not, nor ever have been, a shareholder in Vangold.

I remain a shareholder in Coppermoly purely because I can see huge latent value in every one of its prospects. Furthermore, I was the guy who recognised the geological similarities of the Makmak IOCGs with those in Chile. That is why two friends and I recently put up $250,000 to finance the next field work at Makmak, and that is why my friends want me on the board.

Please feel free to post this email on Hot Copper."