Coppermoly Limited announced the results of an update of the copper-molybdenum-gold Mineral Resource on the Simuku Project on the island of New Britain, Papua New Guinea. The Company has updated the 2009 Mineral Resource, taking into consideration deeper drilling completed between 2009 and 2012 and recent advances in the Company's geological understanding of the Simuku Project. The Simuku copper-molybdenum-gold Mineral Resource has been updated as 373.6Mt @ 0.31% Cu, 58.5g/t Mo and 0.05g/t Au, at a 0.2% Cu cut-off, and has been classified as Inferred in accordance with the 2012 JORC Code & Guidelines Coppermoly's Managing Director Dr. Wanfu Huang commented that achieving a 90% increase to the Simuku porphyry copper-molybdenum-gold Mineral Resource was an excellent result which clearly demonstrates the overall significant potential of the project. Highlights: The Simuku Project, on the island of New Britain in Papua New Guinea, is host to a large porphyry copper-molybdenum-gold deposit. Coppermoly has recently updated the Mineral Resource to take into account the results of additional drilling; The Mineral Resource on the Simuku Project has been re-estimated and has increased by 90% to 373.6Mt @ 0.31% Cu, 58.5g/t Mo and 0.05g/t Au, at a 0.2% Cu cut-off, classified as Inferred in accordance with the 2012 JORC Code & Guidelines; The Simuku Copper-Molybdenum-Gold Inferred Mineral Resource is open to the north, both along strike and down plunge, indicating that potential exists to further increase the Mineral Resource; Interpretation of Induced Polarisation (IP) data has identified several chargeability anomalies, associated with known sulphide occurrences, in close proximity to the Simuku; Mineral Resource, which require field verification and geochemical sampling to determine if drill testing is warranted; Several new porphyry copper target zones have been identified from the correlation of IP, geochemical and geological data, suggesting the Simuku Project could host multiple porphyry copper intrusive bodies.