Kincora Copper Awarded NSW Government Co-Funding For Nyngan project

VANCOUVER - Kincora Copper Ltd. reported that it has secured a co-funding grant from the Government of New South Wales to drill two porphyry targets at our Nyngan copper-gold project. The Nyngan project is located in the interpreted northern undercover section of the Junee-Narromine Belt of the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia. The Junee-Narromine Belt (Belt") is considered highly prospective for large gold-copper porphyry deposits and/or epithermal gold deposits.

Sam Spring, President & CEO, said, "We thank the Government and Geological Survey of NSW for the financial support to drill two large scale porphyry copper-gold targets at our Nyngan project, with favorable results in previous drilling 15 years ago not followed up. Together with our Nevertire license, Kincora was an early mover securing a large and strategic position over the most prospective and explorable sections of the undercover continuation of the Junee-Narromine Belt, a region that has had very limited modern porphyry exploration. Recently, there has been a considerable land grab in this section of the Belt, particularly by FMG Resources and Inflection Resources. Successful drill testing of Nyngan, or by FMG and Inflection in neighboring licenses, will significantly enhance the wider prospectivity of this under-explored section of the Belt. With positive drill results ongoing at our Trundle project, the Company is progressing plans to further systematically advance our district scale project pipeline in the region, with the Fairholme gold project and Nyngan copper-gold project being key priorities."

Kincora secured the Nyngan project via direct application from the NSW Government. The application area was selected based on its stratigraphic-structural setting and favorable results from the last drilling program by Newcrest Mining Limited in 2005 that were not followed up. Four holes were completed in the last drilling program. Three of these intersected basement at depths between 255 meters to 322 meters. Drill hole ACDNY002 recorded bornite-chalcopyrite-chalcocite-pyrite mineralization associated with strong hematite alteration in clasts of volcaniclastic conglomerate. The project covers a significant portion of the interpreted northern sector of the Junee-Narromine Volcanic Belt across a greater than 50km strike approximately 225km NNW along trend from the China Molybdenum Group (CMOC) operated Northparkes copper-gold mine and ongoing drilling operations at the Company's Trundle project. The structural setting at Nyngan is favorably compared to the Lachlan Transverse Zone (LTZ) that has often been interpreted as a fundamental control on the formation of Newcrest's Cadia-Ridgeway camp and the Northparkes porphyry deposits.