The Copper Mountain Mine is located about 20 km south of Princeton, British Columbia and 300 km east of the port of Vancouver. The Copper Mountain mineral claims cover approximately 18,000 acres and consist primarily of 135 crown grants, 176 mineral claims and 14 mining leases. The property is accessible by a combination of highways and paved roads and is close to the port of Vancouver that provides service for shipment of copper concentrates.

The Copper Mountain Mine is a conventional open pit, truck and shovel operation. The mine has a 45,000 tonnes per day plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits. A new life of mine plan to expand the mill to 65,000 tonnes per day, further increases average annual production to 138 million pounds of copper equivalent and reduces all-in costs to US$1.76 per pound of copper over the first 20 years of a 32 year mine life. The 65,000 tonnes per day mill expansion, including the integration of New Ingerbelle, brings Copper Mountain Mine’s after-tax NPV at an 8% discount to US$1.245 billion (as per the 2022 Technical Report).

Further potential exists through the upgrading of Mineral Resources to Mineral Reserves and further exploration to continue to extend the mine life and add value.

Virtual Tour and 3D Model

Project Snapshot

Mineral Reserve and Mineral Resource

Copper Mountain Mine Mineral Reserve Summary (as at August 1, 2022)

The Copper Mountain Mineral Reserve is included in the Copper Mountain Mineral Resource and the effective date of the Mineral Reserve and Mineral Resource is August 1, 2022. A summary of the Mineral Reserve and Mineral Resource is provided below.

1. Mineral Reserves estimate was prepared in accordance with the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia, as amended (the “JORC Code”) and Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Reserves and Mineral Resources (the “CIM Standards”) adopted by the CIM Council on May 10, 2014.
2. Mineral Reserves estimate was generated using the August 1, 2022 mining surface.
3. Mineral Reserves estimate is reported at 0.10% and 0.13% Cu cut-off grade for New Ingerbelle and Copper Mountain Mine (“CMM”) respectively.
4. Mineral Reserves estimate is reported using long-term copper, gold, and silver prices of $2.75/lb, $1,500/oz, and $18.50/oz, respectively.
5. An average CMM copper process recovery of 80%, gold process recovery of 65%, and silver process recovery of 70% is based on geometallurgical domains and actual plant values.
6. An average New Ingerbelle copper process recovery of 88.5%, gold process recovery of 71%, and silver process recovery of 65% is based on geo-metallurgical domains, historical recoveries, and recent testwork.
7. Average bulk density is 2.78 t/m3.
8. Stockpile tonnes and grade are based on production grade control process.
9. Totals may not add due to rounding.

Qualified Person

Mr. Alberto Chang, P.Eng., serves as the qualified person as defined by NI 43-101 for information regarding the Copper Mountain Mine’s technical information and Mineral Reserves estimate. Mr. Chang is the Vice President, Mining of Copper Mountain.

Copper Mountain Mine Resource Summary (as at August 1, 2022)

1. Mineral Resources estimate was prepared in accordance with the JORC Code and the CIM Standards.
2. Mineral Resources were estimated using the August 1, 2022 mining surface for the Copper Mountain Mine.
3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of the Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration.
4. Mineral Resources estimate is constrained by a $3.50/lb Cu pit shell.
5. Cut-off grade is based on copper grade only.
6. Mineral Resources are inclusive of Mineral Reserves.
7. Cut-off grades applied at 0.10% Cu.
8. Totals may not add due to rounding.

Mineral Resource QP:

The Mineral Resources estimate for the Copper Mountain Mine was prepared by Patrick Redmond, Ph.D., P.Geo. who is the Senior Vice President, Exploration and Geoscience at Copper Mountain. Dr. Redmond serves as the qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”) for the Mineral Resources estimate at the Copper Mountain Mine. 

Technical Reports

Copper Mountain Mine Life-of-Mine Plan and 65KTPD Expansion Study Update NI 43 101-Technical Report (2022)

Copper Mountain Mine 65KTPD NI 43-101 Technical Report (2020)

Copper Mountain Mine NI 43-101 Technical Report (2019)

Copper Mountain Mine NI 43-101 Technical Report (2018)