Nzuri Copper : Update on Scheme of Arrangement

18 November 2019

ASX: NZC

SCHEME UPDATE

Nzuri Copper Limited (Nzuri or the Company) (ASX: NZC) provides the following update on 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, a subsidiary of Chengtun Mining Co., Ltd.

As previously advised to shareholders, the Scheme remains subject to regulatory approval being received in the People's Republic of China (PRC Regulatory Approval). 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).

As the PRC Regulatory Approval remains outstanding, Nzuri requested the Court adjourn the Approval Hearing. The Court today made orders adjourning the Approval Hearing until 2pm (WST) on Monday, 25 November 2019.

An updated indicative timetable for the scheme will be released as and when any agreements are reached in respect of a revised timetable.

This announcement is not intended to lift the Company's trading halt.

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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