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A Near-Term Development Opportunity • Dominant land package in the prolific Lac Dore (Chibougamau) camp • Excellent infrastructure (past permitted mill and tailings) • Numerous deposits with substantial upside: • Corner Bay – First drilling program successfully expanded ore resources by 97% • Cedar Bay – First drilling establishes maiden resource 1.9% Cu, 8.61g/t Au • Devlin Deposit – near surface deposit grading ~2.5% Cu • Dore Lake Ramp – high-grade gold/copper zone close to Copper Rand (mill) • Opportunity to further consolidate the camp through acquisition – numerous prospective gold and base metal in area. • Unique Copper/Gold deposits that provide commodity diversification • Quebec is one of the world’s most favourable mining jurisdictions with an attractive flow-through structure, experienced contractors and workers • AmAuCu to acquire up to an initial 80% interest through an earn-in arrangement from Ocean Partners by spending $10 million over 5.5 AuCu years and then one payment of $5 million in subsequent 2 years. Ocean Partners will represent a significant development partner for 2 future production and have 100% off take of Chibougamau production
Capital Structure and Experienced Team Current Capital Structure: Insiders& Management 48% Ocean Partners 10% Orion Mine Finance 19.5% Resource Capital Fund 19.5% MANAGEMENT Mario Stifano - CEO - Current CEO of Cordoba Minerals Ewan Downie - Chairman - Current President & CEO of Premier Gold Mines Ernest Mast - President and COO - Former President and CEO of Primero Mining and Minera Panama, Inmet. 20 Years with Xstrata /Noranda / Falconbridge Jean Tanguay - General Manager - Former Operations Manager of Campbell Mines Andrey Rinta - Exploration Manager – Former Senior Exploration Geologist, Kinross, Russia BOARD AuCu Brent Omland - CFO, Ocean Partners Matt Manson - CEO, Stornoway Diamonds 3 Frank Balint - Former VP Corp Dev and Exploration, Inmet Mining
Chibougamau Daily 1 hour 20 minute flights from Montreal 5 hours by car to Quebec City and Val d’Or Chibougamau located at 49 o 50’ N and eligible for Plan Nord cooperation AmAuCu’s facilities are close to towns of Chibougamau, Ouje Bougamau and Chapais. Approximately 15,000 people and a long mining history Traditionally one of AuCu Quebec’s copper producing centers. No copper mines at the present time 4
AmAuCu Concessions and Claims AuCu 5
Chibougamau AmAuCu Deposits 11. Shaft 3 12. Siderite Hill High gold Low gold 12 11 AuCu • Historic production: 37M T @ 1.75% Cu & 2.80 g/t Au 6
Lac Dore Area Deposits AuCu 7 • Historic production: 37M T @ 1.75% Cu & 2.80 g/t Au
Previously Permitted Mill and Tailings Facility � Past operating 3,000 TPD mill & tailings facility at Copper Rand � Only updated Certificate of Operations required as permit in place for concentrator and tailings � Developed site with all supporting infrastructure. � Mill currently under review to determine most efficient restart configuration. AuCu 8
Copper Rand Tailings Facility Less than 2 km from mill Lac Dore discharge More than 10 years point Capacity at 2,700 tpd Successful re-vegetation test done Tailings show no ARD Characteristics Requires minor work to reactivate permit AuCu 9
Significant Resource Opportunity M & I INFERRED HISTORIC Tonnes Cu% Au g/t Tonnes Cu% Au g/t Tonnes Cu% Au g/t Copper Rand 1,924,159 1.69% 3.09 423,660 2.06% 2.71 Corner Bay 1,350,000 3.01% 0.29 1,660,000 3.84% 0.27 Devlin 412,404 2.48% 0.27 347,300 2.38% 0.21 Cedar Bay 136,000 1.49% 9.11 230,000 2.13% 8.32 302,708 0.97 5.45 Lac Dore Deposit 209,122 1.23 4.35 Shaft 3 Deposit 411,866 2.20 - Henderson II 123,595 1.70 2.47 Copper Cliff Siderite Hill 428,196 0.46 - Gwillam (50%) 153,705 - 10.20 Jaculet 103,420 1.70 0.96 TOTAL 3,822,563 2.23% 2.01 2,660,960 3.22% 1.35 1,732,612 1.18 2.61 Upside Potential • MI & I 43-101 resources 520 M lb Cu Eq, 1.2 M Oz Au Eq. • Corner Bay deposit increased by 93%. High grade maiden Resource at Cedar Bay. Deposits are open in numerous directions. • Discovery cost of first drill program was 1.9 cts/lb Cu eq or $8 /oz Au eq. • Camp has seen only limited exploration over the past several AuCu decades and first drill program confirmed exploration potential. • Historic deposits with upside at depth and along strike 10
Corner Bay Mine Looking north Dyke Roscoe Postle Associates, 2018 Preliminary Grade Category Tonnes Cu, % Au g/t Ag g/t Indicated 1,351,103 3.02 0.29 5.12 Inferred 1,724,062 3.61 0.28 11.21 Main vein Total 3,075,165 3.35 0.28 8.53 AuCu 11
Corner Bay Mine AuCu • $25M spent on development prior to 2009 – Access on 55, 75, 105m levels • Near term production – Ore trucked to Copper Rand Mill (45 km) 12 • Excellent expansion potential at depth and along strike and other structures
Corner Bay Drilling –Under Dyke S Long Section looking east – every new hole intersected = good mineralization N S Resources can also F-44 Dyke F-101 1.85m @2% be expanded above 2.75m @9.56% dyke No intercept/off plane CB-18-03W4 F-44W 1.5m @4.89% 1.8m @11.39% Interpreted vein CB-18-04 CB-05-94 2.9m @ 4 % 1.8m @2.7% CB-05-97 0.96m @1.75% CB-05-93 7.07m @4.92% CB-18-07 CB-05-96 CB-18-03 13.3m @ 3.45% 2.9m @4.29% 1.09m @2.57% Including 5.1m @ 5.22% CB-18-02W2 2.81m @5.49% Open to the CB-05-95 2.08m @4.56% south and down dip CB-95-01 CB-18-06 AuCu 12.09m @2.8% Historic 12.3m @ 2.33% Including CB-18-05 2018 4.8m @ 3.84% 2.45m @2.29% 2.0 m @ 2.18% 13 6.55m @ 4.11%
Corner Bay Drilling – Deep Area Long Section looking east Open up dip to possibly N S connect to vein just below the dyke (300m of open ground vertically) CB-17-04 10.8m @2.95% Cu CB-17-04A 3.3m @ 6.27% Cu CB-05-92 6.7m TW @9.27% Cu Two off-plane intercepts Historic CB-17-01 5.54m @ 2.54% Cu 2.54m @6.3% Cu 2017 2.61m @ 3.73%Cu Interpreted Vein CB-17-01W3 2%+ Cu grade shell 2.5m @3.8% Cu AuCu New Resource Estimate 534,000 t @4.7% Cu average within 2%+ grade shell (>2m thick), 8% Cu Cap 14
Further Exploration Upside – Corner Bay • Dominant land position in the Corner Bay area – 2,668 ha additional land acquired in an option agreement. New acquisition with 4 strong geophysical targets. • Open areas around main vein and parallel veins to with significant exploration potential 450 m east of main vein 6.47m @4.95% Cu , wide open to the south and down dip. Significant open area north and up dip • Western structure Four intersections 2.91% Cu/2.24 m. AuCu 15
Cedar Bay Mine & Copper Rand C.R. 5000 zone M&I 1,127,000 tonnes 1.8% Cu, 2.81 g.t Au AuCu • Cedar Bay Historic production: 3.8M T @ 1.57% Cu & 3.12 g/t Au 16 • Potential to access Copper Rand from Cedar Bay shaft or vice versa
Cedar Bay: 2018 Early Drilling Collar Locations Property Boundaries Mineralized Veins Projection System: NAD83 Zone 18N 2018 Collar Location � Optimal orientation to vein system � Minimizes proximity to existing underground infrastructure Historical Mine Site � 3.8 MT @ 1.57% Cu & 3.12g/t Au � AuCu Mining production stopped at 2200 level; existing shaft extends to 3,400ft � At time of closure Resource of 300 kt @ 0 100m 0.97% Cu and 0.16 opt Au (5.5 g/t) 17
Cedar Bay Drilling, 10-20 Zone, East Structure S Historic 2018 Cu Existing 16 g/t Au mineshaft Cu, 23 g/t Au 2.4m @ 1.67%Cu, 19.5 g/t Au 2.4m @ 4.54%Cu, 15.4 g/t Au 1.4m @ 0.55%Cu, 4.9 g/t Au, 1.1m @ 0.6%Cu, 10.2 g/t Au feet CB 27-9. 100 m past this structure 18 3.4m @ 3.36 %Cu, 14.9 8/t Au. Open along strike, down dip and 150m updip
Cedar Bay – Future Drilling Shallow zone 1.3m, 4.9% Cu 1.8m, 2.7% Cu (not in resources) Roscoe Postle Associates, 2018 Preliminary Grade Category Tonnes Cu, % Au g/t Ag g/t Indicated 141,077 1.49 9.11 9.94 Inferred 232,300 2.16 8.44 12.7 Total 373,377 1.87 8.73 11.49 2.6 g/t Au cut-off Main Zone 2.7m, 0.6% Cu, 3.3 g/t Au 1.6m, 0.4% Cu, 4.2 g/t Au AuCu (not in Resources) and along strike. 19 3.4m @ 3.36 %Cu, 14.9 8/t Au.
Lac Dore Deposit Area Cedar Bay Cedar Bay Copper Rand Copper Rand Amaucu Property Boundary Amaucu Property Boundary Lac Dore Lac Dore Mineralization Mineralization Zone Zone Double Ramp installed Double Ramp installed AuCu 0 500m 20
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