Nzuri Copper : PRC Regulatory Approvals Update

24 October 2019

ASX: NZC

SCHEME OF ARRANGEMENT -

PRC REGULATORY APPROVALS

Nzuri Copper Limited (Nzuri or the Company) (ASX: NZC) refers to its proposed scheme of arrangement

(Scheme) pursuant to which all of the issued capital in Nzuri is proposed to be acquired by Xuchen International Limited (Xuchen), a subsidiary of Chengtun Mining Co., Ltd (Chengtun).

PRC Regulatory Approvals

The Scheme remains subject to the satisfaction of a number of conditions precedent. One of the remaining conditions is the receipt by Xuchen of certain regulatory approvals in the People's Republic of China (PRC Regulatory Approvals). This condition must be satisfied by 8.00am (WST) on the date of the second hearing (Approval Hearing) at the Supreme Court of Western Australia (Court), which is presently listed for 29 October 2019 at 9.30am (WST).

Xuchen has requested Nzuri seek a further adjournment of the Approval Hearing, to 5 November 2019 at the earliest, as the PRC Regulatory Approvals condition has not yet been satisfied.

Next steps

Nzuri will release a further update as and when any agreements are reached in respect of a revised timetable.

END

For further information please contact:

Mark Arnesen	Hannah Hudson	Nicholas Read
CEO/Executive Director	CFO/Company Secretary	Investor Relations - Read Corporate
T: [phone]	T: [phone]	T: ([phone]
E: [e-mail]	E: [e-mail]	E: [e-mail]

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