Florence Copper - Reserves & Resources

The Florence Copper site hosts a shallowly buried porphyry copper deposit with probable reserves of 340 million tons grading 0.358% TCu (at a 0.05% total copper cutoff) containing 2.42 billion pounds of copper.

Florence Copper Reserves and Resources All Oxide in Bedrock (all Oxide in Bedrock)

CLASS

MILLION TONS

%TCU COPPER

MILLION POUNDS COPPER

RESERVES

PROBABLE

340

0.36

2,420

RESOURCES

MEASURED

296

0.36

2,100

INDICATED

133

0.28

741

M & I

429

0.33

2,841

INFERRED

93

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

.