Curis Resources Ltd. Changing the Way Copper is Made October 2013 - PowerPoint PPT Presentation

SWVP-0631 Curis Resources Ltd. Changing the Way Copper is Made October 2013 SWVP-023361

Why Choose Curis as an Investment Opportunity?  Copper is essentially the nervous system of modern society and can be found in everything we touch and use  Our goal as a company is to be the lowest cost and most progressive, sustainable and innovative copper mining company in the world  We believe in creating value – for our investors, for our employees and for the communities in which we operate 2 SWVP-023362

Florence Copper is a Near Term Copper Producer  Advanced stage in-situ copper recovery (ISCR) development project in centre of Historic Arizona “Copper Corridor”  Lowest quartile projected capital and operating costs  All major power, transportation, road and rail infrastructure in place  Curis is 100% owner of 1,342-acre private patented and lease (160 acres) land package  Majority of Phase I operating permits in place and amending existing commercial operating permits for near term production  Over $100 million spent on project by former owners Conoco, Magma and BHP Copper Inc.  Prefeasibility and successful pilot test confirming project safety and economics by BHP Copper in 1998 3 SWVP-023363

Florence Deposit Mineral Reserves and Resources All Oxide in Bedrock Million lb Class Millions tons %TCu Grade Copper Reserves Probable 340 0.36 2,420 Measured 296 0.35 2,100 Indicated 133 0.28 741 Resources M + I 429 0.33 2,841 Inferred 63 0.27 496  Based on 577,317 feet of drilling in 502 holes  Mineral Reserves and Mineral Resources at a 0.05% TCu cutoff  QP for the 2011 resource estimate is Russell White, RM-SME, RG  QP for the 2013 reserve estimate is Michael Young, RM-SME, Haley & Aldrich  Mineral reserves are contained within the measured and indicated mineral resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability 4 SWVP-023364

Florence Copper Projected Commercial Production Profile Base Case Capital and Operating Costs and Expected Annual Production of Copper Cathode  Initial capital cost of US $208 million  Payback of capital 2.6 years (pre-tax)  Cash operating cost of US $0.80/pound  Total estimated operating cost of US $1.11/pound  27,500 tons/55 million pounds average annual production (years 1–6)  42,000 tons/85 million pounds average annual production (years 7–21) Long mine life of 25 years  Base case uses 70% copper recovery  Source: March 2013 Prefeasibility Study independent qualified persons include Richard Zimmerman, RM-SME, M3 Engineering & Technology Corp. (U.S.), Terrence McNulty, PhD, PE, TP McNulty and Associates, Michael Young, RM-SME, Haley & Aldrich, Corolla Hoag, CPG, RM-SME, of SRK Consulting, Dennis Tucker, PE, ARCADIS and Richard Frechette, PE, Knight Piésold 5 SWVP-023365

Florence Copper has Robust Economics US $727 million pre-tax NPV and 36% Internal Rate of Return (IRR) @ a 7.5% discount rate and US $2.75/lb Cu Net Present Value (NPV) Analysis Copper price Pre-tax NPV / IRR Post-tax NPV / IRR US$/lb $3.00 US $849 Million / 38% US $585 Million / 31% $2.75 US $727 Million / 36% US $503 Million / 29% Source: NI 43-101 Prefeasibility Study for the Florence Project, March 2013 6 SWVP-023366

Curis Peer Benchmarking – Initial Capital Costs / Project Pre-Tax NPV At an initial capital cost to pre-tax NPV ratio of 26%, Curis has the lowest ratio versus its base metal developers peer group 635% 300% 250% Initial Capital Costs / Pre-Tax NPV 8% 200% Average: 169% 150% 100% 50% 26% 0% (OP & UG Scenario) (1) (1) (2) (2) (4) (2) (1) (1) (2) (4) (1) (3) (2) Curis Augusta Hana Quaterra WRN Nevada Copper Yellowhead Entree Abacus Chieftain Copper Fox Note: Based on each company’s most recent NI43-101 Technical Reports & disclosure within most recent corporate presentations Note: Average excludes Curis (1) Base case Cu price range of $2.50 - $2.99/lb Source: National Bank Financial Markets (2) Base case Cu price range of $3.00 - $3.49/lb 7 (3) Base case Cu price range of $3.50 - $4.00/lb (4) Quaterra & Entree based on the MacArthur Project & the Ann Mason Project, respectively SWVP-023367

Curis Peer Benchmarking – Initial Capital Costs At US $208 million, Curis has the lowest estimated initial capital cost requirement versus its base metal developers peer group $3,500 $3,000 $2,500 Initial Capital Costs (US$M) $2,000 $1,500 Average: $1,181MM $1,000 $500 $208.0 $0 (OP & UG Scenario) (1) (1) Curis Quaterra Hana Chieftain Abacus Yellowhead Nevada Copper Augusta Entree WRN Copper Fox Note: Based on each company’s most recent NI43-101 Technical Reports & disclosure within most recent corporate presentations Note: Average excludes Curis (1) Quaterra & Entree based on the MacArthur Project & the Ann Mason Project, respectively 8 Source: National Bank Financial Markets SWVP-023368

Jobs, Taxes and Economic Activity from Florence Copper 9 SWVP-023369

Development of Florence Copper Phase 1 Development Program  24 well injection and recovery system  State of the art Solvent Extraction / Electrowinning (SX/EW) facility  Will operate for 18 months  Construction scheduled to begin in early 2014  Capital cost estimated at $35 million Phase 2 Commercial Operations  Commercial scale injection and recovery well field  Expanded SX/EW facility capable  Permitting to be completed in 2015  Start of full commercial operations in 2017  Life of project is 25 years  Estimated Initial Capital Cost is US $208 million 10 SWVP-023370

In-Situ Recovery – Well Understood, Proven Technology  ISR is a low cost environmentally sound process of extracting minerals  Very low comparable capital and operating costs  Used extensively for decades around the world for recovering metals and salts  30% of world wide and 90% of current U.S. U 3 O 8 production utilizes ISR technology  Currently 26 known U 3 O 8 and Copper ISR projects in operation or under development globally Example of an operating ISR Project in Wyoming, USA 11 SWVP-023371

Florence Project In-Situ Recovery Process Injection and recovery wells are drilled deep into the bedrock where the oxide copper mineralization is Wells are concrete encased and sealed to protect water quality Low pH solution, similar in strength to household vinegar or lemon juice, is pumped under low pressure through the injection wells to gently dissolve the copper Copper rich solution is pumped to surface through recovery wells for processing into pure copper cathode sheets Perimeter and observation wells are In-situ recovery well field arrangement monitored continuously to ensure hydraulic control of fluids is maintained at all times and water quality is protected 12 SWVP-023372

Recent Drill Core Intersections – Florence Deposit  The high frequency of prolific fracture patterns and densities observed during the most recent drilling program further confirm that the Florence copper oxide deposit represents the ideal conditions for in-situ recovery of copper  The porous nature of the deposit creates significant hydraulic communication across geologic structures and rock types throughout the oxide deposit  Average copper grade in recent three drill holes was 0.47% CuT; this compares favorably with calculated model grades of 0.43% CuT (see August 16, 2011 Curis Press Release) Photos of recent PQ and HQ size core obtained from Florence Deposit 13 SWVP-023373

Protecting Groundwater Quality 14 SWVP-023374

Conceptual Florence Project Plant Design  SX/EW technology has been in use for 40 + years worldwide  Virtually zero air emissions and fully enclosed process  Production of pure copper cathode significantly lowers treatment and transportation costs Florence Project Solvent Extraction / Electrowinning Plant Layout 15 SWVP-023375

Infrastructure, Water and Land Florence Copper is well served by on-site infrastructure and water rights POWER  New 500 kV powerline that traverses western boundary of Curis property  125 kV powerline on site  Low power costs INFRASTRUCTURE  Copper Basin Railway that connects directly to Asarco Hayden Smelter, traverses northern boundary of property  Hunt highway (County) adjacent to property  Natural gas line traverses property WATER  All water rights in place for commercial operations LAND  100% owned 1,182-acre private patented land. 160 acre State Mineral Lease held by Curis  100% owned mineral rights to Florence Copper Deposit 16 SWVP-023376

BHP Production Test Results (1998) BHP Copper undertook an ISCR production test at Florence in 1998. Results from the test included the following:  Extensively fractured bedrock, confirmed that chrysocolla mineralization and saturated nature of deposit make it ideal for ISCR extraction  Confirmed ability to maintain full “hydraulic control” of solutions in ground Photo of existing ISCR well field at Florence Site  Confirmed environmental safety of full life cycle of operations including closure  Demonstrated ability to protect water quality during and after operations (14 years of subsequent water quality monitoring confirm process is safe) ISCR well field arrangement at Florence Site 17 SWVP-023377

Things are beginning to happen….. 18 SWVP-023378

SX/EW Plant Crane Installation SWVP-023379