COPPER MOUNTIAN CODE

Density measurements were applied (ranges from 2.4 t/m3 to 3.0 t/m3).Mineral Resources are constrained within a Whittle pit shell generated with a copper price of $3.50/lb, a gold price of $1,250/oz and an exchange rate of AU$1.35 = US$1.00.Mineral Resources are inclusive of Mineral Reserves.

COPPER MOUNTIAN CODE

Joint Ore Reserves Code (JORC) and CIM definitions were followed for Mineral Resources.

Stuart Collins of SEC Enterprises Corp., who is independent of the Company, is the Qualified Person for Mining and the Mineral Reservefor the Eva Copper Project.

Totals may show apparent differences due to rounding.

Blackard, Scanlan, and Turkey Creek do not contain gold.

Little Eva, Turkey Creek, Bedford, and Lady Clayre have an equivalent 5.3% NSR royalty Ivy Ann has an equivalent 5.8% royalty.

Average process recoveries of 95% for copper sulphide, 63% for native copper, and 78% for gold were used for all deposit areas.

Mineral Reserves are reported using copper and gold prices of $2.75/lb and $1,250/oz, respectively.

Mineral Reserves are reported at an NSR cut-off value of $8.95/t for Little Eva and Turkey Creek, $9.35/t for Bedford and Blackard, $10.32/t for Lady Clayre and Scanlan, and $11.44/t for Ivy Ann.

Mineral Reserves were generated using the Decemmining surface.

CIM Definition Standards were followed for Mineral Reserves.

A summary of the Mineral Reserve and Mineral Resource is provided below. The Eva Mineral Reserve is included in the Eva Mineral Resource and the effective date of the Mineral Reserve and Mineral Resource January 30, 2020.

(2) Based on the December 2021 Update, announced December 13, 2021.

Paul Staples, Vice President and Global Practice Lead for Ausenco Limited, who is independent of the Company, is the Qualified Person for Ore Processing. Alistair Kent, Senior Project Manager for Merit Consultants International, who is independent of the Company, is the Qualified Person for the Development Capital Estimate. Peter Holbek, Vice President, Exploration at Copper Mountain Mining Corporation, is the Qualified Person for the related Mineral Resource. Stuart Collins of SEC Enterprises Corp., who is independent of the Company, is the Qualified Person for Mining and the Mineral Reserve. Paul Staples, Alistair Kent, David Johns, Peter Holbek, Stuart Collins, Mike Westendorf, Roland Bartsch and Richard Klue serve as Qualified Persons as defined by National Instrument 43-101 for the Technical Report related to the Eva Copper Project.

(1) Based on the May 2020 Feasibility Study.

14 koz of gold)Įnd Product Copper concentrate (with gold credits)

Process Conventional Crush, Grind, FlotationĮxpected Average Annual Production (1) Approx. Infrastructure All-weather paved highway, rail, gas, airports, powerĭeposit Type IOCG (Iron Oxide Copper Gold) Project Snapshot Ownership 100% Copper Mountain Mining Corporation Based on this schedule, commissioning of Eva is expected to be in late 2024. In December 2021, the Company approved the construction plan for the Eva Copper Project, subject to 80% of detailed engineering being complete, project financing and COVID-19 restrictions being lifted. The property is accessible by air and road and has sufficient water and power available through a 220kV powerline. The Project is envisioned to be a conventional open pit with a conventional crush, grind, flotation circuit. The Eva Copper Project is located 75 kilometres from the town of Cloncurry and 95 kilometres north-east of Mt Isa in north-west Queensland, Australia.

Copper mountian