Kincora Closes First Tranche of Oversubscribed Private Placement

Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) is pleased
to announce that it has completed a $5 million private placement, subject to
certain approvals. The successful placing attracted considerable demand from
both new and existing investors and was significantly oversubscribed. Funds from
the capital raising will be used for high priority drilling, and other
exploration activities, at our flagship and wholly owned Bronze Fox license in
the upcoming 2014 field season. 


The Company has closed the first tranche of financing for gross proceeds of
C$4,575,000 through the issuance of 91,500,000 units at a price of C$0.05 per
unit (the "Offering"). Each unit consists of one common share and one common
share purchase warrant. Each whole warrant entitles the holder to acquire one
common share of Kincora for a period of two years expiring March 24th, 2016 at a
price of C$0.105 per share. If at any time following the expiry of the resale
restrictions the closing price of Kincora's shares on the TSX Venture Exchange
(the "TSXV") is greater than $0.15 for 30 consecutive trading days then Kincora
may give notice accelerating the expiry date of the Warrants to 30 days from the
date of the notice. 


All units issued under the Offering are subject to a four month hold period
expiring July 25th, 2014. 


The Company paid finder's fees of $190,642 in connection with the first tranche
of the Offering, with efforts led by the The Private Office SA ("TPO") and
Resource Investment Capital Limited ("ResCap"), and assisted from SkyPath
Partners LLC, Pareto Securities Limited and The Mongolian Investment Banking
Group LLC ("MIBG"). 


The Company proposes to issue a further approximately 8,500,000 units for
proceeds of approximately $425,000 to Khayyam Minerals Ltd. (TSX VENTURE:KYY.P)
("Khayyam"), which issuance remains subject to Khayyam obtaining certain
regulatory and shareholder approvals, as more particularly detailed in the news
release of Khayyam dated March 10, 2014. 


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

"Kincora attracted significant demand for the Offering, which has been well
oversubscribed, illustrating strong interest and support for our proposed field
season activities at Bronze Fox. I would like to welcome a number of new
investors, some of which are mining sector and/or Mongolia specialist groups,
who participated in the private placement and thank existing shareholders for
their continued support as we enter a very exciting period for Kincora.


The Company's focus is now mobilizing field season activities and advancing a
number of corporate initiatives. Drilling, and other follow up activities, are
shortly planned at Bronze Fox based on extremely promising previous drill
results, new geophysical and other "long lead" time / technical activities
undertaken in 2013. A follow up phase of target drilling in 2001 at Oyu Tolgoi
focused on similar untested geophysical targets, with often-supportive previous
drilling, and led to the "discovery hole" and subsequent definition of one of
the world's largest copper-gold porphyries. Kincora is looking to follow a
similar exploration strategy and successful proof of concept activities at
Bronze Fox this field season could provide visibility for significant resource
potential."


Qualified Person

The scientific and technical information in this news release was prepared in
accordance with the standards of the Canadian Institute of Mining, Metallurgy
and Petroleum and National Instrument 43-101 - Standards of Disclosure for
Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by
Kincora's geological staff under the supervision of John Rickus, Chairman and
Director of Kincora Copper, who is the Qualified Person for the purpose of NI
43-101.


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.


About Kincora Copper Limited:

http://media3.marketwire.com/docs/935475kc.pdf

FOR FURTHER INFORMATION PLEASE CONTACT: 
Kincora Copper Limited
Sam Spring
President and Chief Executive Officer
[phone]
www.kincoracopper.com