Kincora Copper Limited Announces Closing of Private Placement with Khayyam Minerals Ltd.

Vancouver, British Columbia, May 21, 2014 – Kincora Copper Limited (“Kincora”) (TSXV: KCC) is pleased to announce that, subject to the issuance of a Final Exchange Bulletin by the TSX Venture Exchange (the “Exchange”), it has completed the previously announced private placement pursuant to which Khayyam Minerals Ltd. (TSXV: KYY.P) (“Khayyam”) has acquired 7,740,000 units of Kincora (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of $387,000 (the “Private Placement”). The Units are to be distributed pro rata amongst the shareholders of Khayyam as Khayyam’s Qualifying Transaction under the Capital Pool Companies policy of the Exchange.

Each Unit consists of one common share (a “Share”) and one share purchase warrant (a “Warrant”) of Kincora exercisable to acquire one additional Share at an exercise price of $0.105 per Share for a period of two years from the date of the close of the Private Placement subject to acceleration provisions such that, if at any time after four months from the completion of the Private Placement, the closing price of Shares on the Exchange is at least $0.15 per Share for 30 consecutive days, Kincora may give notice that each Warrant will expire 30 business days from the date of providing such notice. The Shares and Warrants issued under the Private Placement will be subject to a hold period of 4 months expiring on September 22, 2014. A total of 6,140,826 Shares and an equal number of Warrants distributable to the principals of Khayyam will also be subject to escrow in accordance with the policies of the Exchange.

The proceeds of the Private Placement will be used for general working capital.

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:

Robert Anderson, CA Chief Financial Officer Kincora Copper Limited Telephone: 604 638-3951 E-mail: [email protected]