Tr Transforming the Carmacks Cu-Au Au-Ag Ag Project Yu Yukon, Canada Doug Ramsey, Presid ident and CEO Oct 2019 TSX.V:COL
FO FORWARD LO LOOKING ST STATEMENTS This presentation includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, the timeliness of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. The current technical report entitled “JDS Energy & Mining. 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada”, posted on www.sedar.com on 6 February 2017 (“the 2017 PEA”), is preliminary in nature and there is no certainty that the PEA findings will be realized. The economic analysis in the 2017 PEA is based solely on measured and indicated mineral resources and does not include inferred mineral resources. Refer to the 2017 PEA for a discussion of the applicable qualifications and assumptions and the impact on the results of the previous studies on the Carmacks Project. National Instrument 43-101 Mr. Robert McKnight, P.Eng., Chairman of the Company, is the Qualified Person who has reviewed and approved the content herein, for compliance with National Instrument 43-101. TSX.V: COL | 2 Forward Looking Statements
Fo Focus used ed on n the he Carmacks Projec ect CARMACKS OXIDE Cu-Au-Ag PROJECT 100% owned Advanced-stage development asset SX/EW cathode copper and gold/silver doré production Positive 2017 PEA Located in mining-friendly Yukon, Canada Based on 7-year mine life Measured & Indicated Resource 11.98 Mt @ 1.07% Cu, 0.456 g/t Au and 4.58 g/t Ag 282 M lbs Contained Cu, 171,800 oz Au, and 1,705,800 oz Ag 2015 and 2017 Exploration Added 4.3 MT Measured and Indicated Resource TSX.V: COL | 3 Focused on the Carmacks Project
Co Copper N North – Ca Capit ital S l Structure Capital Structure (as at 30 June 2019) Issued 85,900,413 Options 5,264,000 Warrants 17,101,066 Fully Diluted 108,265,479 TSX.V: COL | 4 Capital Structure
Our Experienced Team Ou Ma Management – Dir Directors - Adv Advisors Doug Ramsey, M. Do M.Sc., R.P. P.Bio. – Pr Pres esident ent, CEO, and nd Di Direc ector Over 35 years experience in permitting, development, operations, and closure of base and precious metal mines. Ø Previously, VP Sustainability and Environmental Affairs at Copper North (2012 to 2018). Rebecca Mor Re oriarty, CPA, CA - Ch Chief Financial Officer A Chartered Professional Accountant with over 16 years of experience in the mining industry, and a B.Sc. (Geology) Ø from Queens University. She previously spent 11 years at PricewaterhouseCoopers LLP. Rob Robert McKnight, P.En Eng. MBA - Ch Chairman Currently Executive Vice-President of Nevada Copper Corp. He is a geological engineer, with over 30 years of Ø experience in the resource business and a wealth of knowledge in project finance, mergers and acquisitions, feasibility studies and valuations. Sue Sue Craig, P. P.Geo eo. – Di Director Over 25 years experience in BC and Yukon on projects ranging from exploration through operations to closure. Ø Currently a Director of Yukon Energy Corporation. Former CEO and Director of Northern Freegold and Past-President of Yukon Chamber of Mines. Bill Ko Bi Kouts tsoura ras, CA, C.F.A - Di Director Currently the Principal of Kouts Capital, providing consulting advice to natural resource companies. Former Executive Ø Vice President and Chief Financial Officer of Endeavour Financial Corporation, a mining focused merchant bank . Lo Lorne Anderson, CA – Di Director An independent Financial Consultant to the minerals industry and has served on the Boards of several public Ø companies. He formerly was the Chief Financial Officer and treasurer of Glamis Gold and a director of Tahoe Resources. Lo Loy Chunpongtung, P.Eng. – Di Director A mining engineer with 25 years of experience in mine planning-scheduling, pit optimization, pit design, ore-grade Ø control planning, and advanced geo-statistical modelling. Loy is the Surface Mining Society Peer Review Chair for the CIM Journal and is an Executive Officer of the CIM Surface Mining Society. Dr Dr. Jack Mi Milton – Seni Senior Geo eology Advisor Jack has a unique understanding of the Carmacks Copper Belt and particularly our project site, having served as Ø Project Geologist on our Carmacks exploration programs since 2014. TSX.V: COL | 5 Directors –Management-Advisors
Ca Carmacks P Proje ject – Fa Far from Rem emote In In the heart of the Carmacks Copper Belt TSX.V: COL | 6 Far from Remote
Ca Carmacks P Proje ject Roa Road Access Tod Today TSX.V: COL | 7 Road Access Today
Tr Transfor orming the Carmacks Pr Proj oject In In the beginning (2011 for Copper North) When Copper North acquired the Carmacks property in 2011, the project was planned as Ø a copper-only heap leach with a relatively short 7 year mine life In particular, the heap leaching plan ignored the precious metals in the resource - 0.456 Ø g/t Au and 4.58 g/t Ag – the recovery of which has the potential to improve overall project economics if brought into the project The precious metals would not be recoverable if the resource was first leached for copper Ø recovery By early 2014, it was clear to management that a different metallurgical process needed Ø to be considered in order to bring the precious metals into the project plan. Our work since then has been directed to incorporating precious metal recovery in the process. , TSX.V: COL | 8 Before the Transformation
Tr Transfor orming the Carmacks Pr Proj oject Bu Buildi ding g Va Value Bu Building val alue in th the Carmac armacks Pro roject t by: Ø Maximizing metal recovery from the mineral resource By including precious metals recovery along with copper § recovery Resulting in a low-cost potential producer (after precious § metal credits) Ø Expanding the mineral resource through exploration Adding to our: Ad Ø Quality Deposit High-grade: oxide copper with significant recoverable gold § and silver, plus: Early stage copper-gold-silver sulphide mineral resource § Ø Excellent Location Yukon, Canada: low political risk, stable tax regime (Yukon § reduced corporate tax from 15% to 13% in April 2017) Infrastructure: all weather road access, 11 km from the Yukon § Energy grid TSX.V: COL | 9 Building Value
Ca Carmacks Co Copper-Go Gold-Si Silver er Projec ect Bu Buildi ding g Va Value Maximizing Me Ma Metal Recovery Ø Oxide deposit grades 1.07% Cu, 0.45 g/t Au, and 4.5 g/t Ag (Zones, 1, 4, 7, and 7A) Ø Historical plan was to heap leach and only recover copper Ø Selected two-stage agitated tank leach process expected to efficiently recover copper by sulphuric acid leach and precious metals by cyanide leach JDS Energy and Mining. 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, § Canada, filed on www.sedar.com on 9 February 2017. The 2017 PEA is preliminary in nature and there is no certainty that the PEA findings will be realized. Ø Leached copper would be recovered by SX/EW to produce LME grade A copper cathode Ø Leached gold and silver would be recovered by carbon-in-leach Ø Near 100% recovery of acid-soluble copper and cyanide-leachable gold estimated from locked cycle testing TSX.V: COL | 10 Maximizing Metal Recovery
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