KCC Kincora Copper Limited

Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) provides an
update on the 106-license dispute, relating to the revocation of mineral
exploration licenses in late 2013. On July 4th, the Mongolian Government
approved Resolution #216 and is Appendix ("Resolution #216") relating to the
106-licenses dispute to "settle in a manner with no damage to the State and the
license holder for the purpose of granting a new licenses, in accordance with
the Minerals Law to issue through tender". The Mining Minister, Gankhuyag.D, has
been assigned to organize and monitor the tendering for 106-license areas in
accordance with relevant laws and regulations. Resolution #216 follows the
approval by the Mongolian Parliament of the amendments to the Minerals Law on
July 1st.


Under the approved Resolution #216 former license holders and other third
parties will re-tender for the previously revoked licenses on a competitive
tender basis, where an initial re-tendering price shall be effectively
determined by costs incurred by the former license holder(s). Resolution #216
doesn't differentiate between former license holders and other third parties.
Detailed implementation procedures are pending but such a proposed resolution is
not in-line with previous guidance from senior Government officials and current
public statements. Kincora and the association of active former license holders
continue to seek active dialogue with appropriate Government officials to work
towards an outcome in the interests of all stakeholders. 


In its September 2013 quarterly accounts, Kincora wrote off C$6,952,000 relating
to the 15075X (Tourmaline Hills) and 15076X (North Fox) licenses, which were
revoked as part of the 106. Kincora's two licenses were acquired from a private
Canadian group in 2012, following full due diligence, and are lower priority
exploration licenses adjacent to our flagship Bronze Fox project. Bronze Fox
remains unencumbered and Kincora is currently actively undertaking field season
activities including drilling at advance large scale copper porphyry targets
that are situated towards the centre of the existing license. We are confident
our revoked licenses will be returned. 


Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said: 

"The ongoing dispute continues to have a significant impact beyond just the
106-licenses and the exploration sector/amended Minerals Law, with security of
tenure, a transparent and consistent legal and legislative environment being key
cornerstones for all private sector activities. Investors are watching to see
what the outcome of this dispute is and, as is, Resolution #216 undermines the
relatively limited, and broadly positive, amendments to key items of the
existing Mineral Law. The proposed competitive tender process contradicts the
positive move toward a direct application, "first come, first served", approach
adopted under the amended Minerals Law and is at odds with recent proposed
reform aimed at encouraging private sector activities, reviving the minerals
sector and Mongolian economy. 


Kincora in conjunction with the association of active former license holders
continues to actively lobby and proactively approach the Ministry of Mining and
appropriate Government officials to achieve a win-win solution for all
stakeholders. The Company's core focus remains ongoing exploration activities at
our flagship Bronze Fox license". 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com
+61431 329 345
http://www.kincoracopper.com

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