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Minto Mineral Reserves & Resources

 Minto Mine Estimated Mineral Reserves as at December 31, 2015

 Classification Tonnes
(kt)
Copper (%) Silver (g/t) Gold
(g/t)
Contained Copper (kt) Contained Silver (koz) Contained Gold (koz)
Minto North Open Pit
Proven 1,416 2.51 9 1.34 36 420 61.0
Probable - - - - - - -
Total 1,416 2.51 9 1.34 36 420 61.0
MSD - Area 2 Open Pit
Proven     - - - - - - -
Probable 807 1.21 1 0.41 10 26 10.6
Total 807 1.21 1 0.41 10 26 10.6
Minto East Underground
Proven     - - - - - - -
Probable 687 2.00 6 0.80 14 130 17.7
Total 687 2.00 6 0.80 14 130 17.7
MSD - Area 2/118 Underground
Proven     - - - - - - -
Probable 681 1.70 7 0.70 12 149 15.3
Total 681 1.70 7 0.70 12 149 15.3
MSD - Copper Keel Underground
Proven - - - - - - -
Probable 1,607 1.80 6 0.65 29 326 33.6
Total 1,607 1.80 6 0.65 29 326 33.6
MSD -Wildfire Underground
Proven - - - - - - -
Probable - - - - - - -
Total - - - - - - -
Stockpiles
Proven 275 1.03 3 0.41 3 30 3.6
Total 275 1.03 3 0.41 3 30 3.6
Total Mineral Reserves
Proven 1,691 2.27 8 1.19 38 450 64.6
Probable 3,782 1.69 5 0.64 64 631 77.2
Total Mineral Reserves 5,473 1.87 6 0.81 102 1,081 141.8


NOTES: 
Pooya Mohseni, P.Eng., Mine Manager at Minto, is the Qualified Person responsible for the estimation and disclosure of the Minto mineral reserves. Mineral reserves are reported as at December 31, 2015. Mineral reserves are reported above a cut-off grade of 0.5% Cu for open-pit material and above a US$ 64.40/t NSR cut-off for underground material. Stockpiles are treated as Proven mineral reserves. Metal price assumptions used to determine NSR cut-off for all deposits are: Cu=$2.50, Au=$300, Ag=$3.90. Process recoveries for all deposits are: Cu=91%, Au=70, Ag=78%. Totals may not sum exactly due to rounding.

 

Minto Mine Estimated Mineral Resources as at December 31, 2015

Classification Tonnes     (kt) Copper (%) Silver 
(g/t)
Gold    (g/t) Contained Copper
(kt) 
Contained Silver 
(koz) 
Contained Gold
(koz) 
Minto South (MSD)
Measured 4,668 1.02 3 0.38 48 486 57.0
Indicated 26,250 0.96 3 0.32 252 2,490 270.1
Total Measured + Indicated 30,918 0.97 3 0.33 300 2,976 327.1
Inferred 17,246 0.75 0.21 129 1,236 116.4
Ridgetop
Measured 1,531 0.98 2 0.25 15 105 12.3
Indicated 3,534 0.87 3 0.30 31 326 34.1
Total Measured + Indicated 5,065 0.90 3 0.28 46 431 46.4
Inferred 318 0.75 2 0.13 2 16 1.3
Minto North
Measured 1,644 2.15 8 1.11 40 457 65.8
Indicated 260 1.04 6 0.60 3 49 5.1
Total Measured + Indicated 1,904 2.01 7 1.05 42 505 70.9
Inferred 28 0.84 4 0.41 0 3 0.3
Minto East
Measured - - - - - - -
Indicated 1,309 1.94 6 0.82 25 248 34.5
Total Measured + Indicated 1,309 1.94 6 0.82 25 248 34.5
Inferred 93 0.85 1 0.41 1 4 1.2
Minto East 2
Measured - - - - - - -
Indicated 5,557 1.25 5 0.55 69 884 99.1
Total Measured + Indicated 5,557 1.25 5 0.55 69 884 99.1
Inferred 6,158 0.93 3 0.31 57 588 62.0
Inferno North
Measured - - - - - - -
Indicated - - - - - - -
Total Measured + Indicated - - - - - - -
Inferred 1,419 1.42 5 0.51 20 214 23.3
Stockpiles

Measured

275 1.03 3 0.41 3 30 3.6
Total Mineral Resources
Total Measured  8,118 1.27 4 0.52 103 1,064 135.9
Total Indicated 36,910 1.03 3 0.37 380 3,996 442.9
Total Measured + Indicated Resources 45,028 1.07 3 0.40 484 5,060 578.8
Total Inferred Resources 25,262 0.83 3 0.25 210 2,062 204.6


NOTES:
Dr. Wayne Barnett, Ph.D., P.Geo., of SRK Consulting (Canada) Inc. (“SRK”), is the Qualified Person responsible for the mineral resource estimates of the MSD and Ridgetop deposits. Garth Kirkham, P.Geo., FGC, of Kirkham Geosystems Ltd., is the Qualified Person responsible for the mineral resource estimates of the Minto North, Minto East, Minto East 2, and Inferno North deposits. Douglas McIlveen, P.Geo., Chief Geologist at Minto, is the Qualified Person responsible for the disclosure of the Minto Mine mineral resources . Mineral resources are reported as at December 31, 2015 above a 0.5% Cu cut-off grade. Stockpiles are treated as Measured mineral resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources are presented inclusive of mineral reserves. Totals may not sum exactly due to rounding.