ACN. 000 317 251

MARKET RELEASE 30th November 2015

ROCKLANDS COPPER PROJECT (CDU 100%)

UPDATE ON ANNUAL GENERAL MEETING

• Director withdraws nomination for re-election

• Opportunity for shareholders to provide questions prior to Annual General Meeting

Cloncurry mining company CuDeco Limited (ACN 000 317 251) (CuDeco) announced today that Mr Jiang Yongmin, who is due to retire from the Board at the upcoming Annual General Meeting (AGM) on 14 December 2015 in accordance with Clause 3.3 of the Company's Constitution, has withdrawn his nomination for re-election as a Director of the Company due to business reasons.

As a result, Resolution 5 - Re-election of Director, in the Company's Notice of General Meeting has been withdrawn, and Mr Yongmin will cease to be a Director at the conclusion of the AGM. A copy of Mr Yongmin's request not to stand for re-election is attached to this announcement, in which he notes the success of the Company's recent capital-raising initiatives and his role as a nominee of Sinosteel Equipment and Engineering Co., Ltd, in ensuring the successful development of the Company's flagship Rocklands Group Copper Project.

The Board thanks Mr Yongmin for his contribution to the development of the Company to date and looks forward to continuing to work with Mr Yongmin in his capacity as the Principal Contractor.

CuDeco interim independent Chairman David Taylor said, 'Mr Yongmin's knowledge and expertise has been extremely valuable throughout the recent Board transition. We look forward to continuing the strong relationship with Mr Yongmin and Sinosteel Equipment and Engineering Co as we work together to finish the electrical installation of the Processing Plant and progress towards becoming Australia's next copper exporter.'

In preparation for the AGM, Shareholders are invited to submit questions they wish to be addressed by the Company. Shareholders who attend the meeting will still be provided with an opportunity to ask questions from the floor and the Chairman of the meeting will endeavor to address as many questions as possible.

Shareholders seeking to submit questions should complete the attached form and forward it to the Company by 2.00pm (Australian Eastern Standard Time) Friday 11 December 2015.

'CuDeco welcomes the opportunity to discuss with shareholders our plans for the year ahead, as we realise our goal of becoming Australia's next copper producer. The past year has been challenging for the resource sector, but we are confident of delivering growth in shareholder value with the completion of the electrical installation and commissioning of Rocklands,' Mr Taylor added.

Yours faithfully

B Bamonte

Company Secretary

Unit 33, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215

Phone: +617 5503 1955 Facsimile: +617 5503 0288 Email: admi n@ cudeco. com. au

Mr. David Taylor Interim Chairman CuDeco Limited PO Box 1044

Southport Qld 421 5 Dear Sir,

November 30, 2015

I am pleased to have joined the board as a nominee of Sinosteel Equipment and Engineering Co., Limited and was appointed as a Director by the board of Directors on 24 July 2015.

In consideration of the following, I will retire and will not offer mysel f for re-election at the forthcoming AGM. on 14 December 201 5.

1. . The capital fund raising has been resolved recently and the Rights Issue is on the timetable.

   
   

2. Sinosteel Equipment and Engineering Co., Limited is still a major contractor of Rocklands project at this moment. To avoid unnecessary disputes. Sinosteel decided to voluntarily quit from the Board during the construction.

According to the development of the company, Sinosteel may ask for a nominee director to the Board in the future.

Thanks for all your cooperation. Sincerely yours

I

Jiang Yo Cc: Mr. Bruno Bamonte

Company Secretary

ACN. 000 317 251

SHAREHOLDER QUESTIONS

FOR ANNUAL GENERAL MEETING 14 DECEMBER 2015

Please use this form to submit questions about CuDeco Limited ('the Company') for the Company's 2015 Annual General Meeting.

This form must be received by the Company by 2:00pm (AEST) on Friday 11 December 2015.

Questions will be collated. During the course of the Annual General Meeting, the Chairman of the Meeting will endeavor to address as many of the more frequently raised shareholder topics as possible.

Please note that individual responses will not be sent to shareholders.

My question is directed to (please mark the most appropriate box);

Chairman

Managing Director

Director

Auditor

Question/s:

Shareholder name:

Contact phone No: Email address:

Shareholder Reference Number (SRN)

OR Holder Identification Number (HIN):

Question may be lodged by;

• MAIL: Postal Address - P O Box 1044, Southport, Queensland 4215

   FAX: (61 7) 5503 0288

• EMAIL: [email protected]