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Minto Mineral Reserves & Resources

 Minto Mine Estimated Mineral Reserves as at December 31, 2016

 Classification Tonnes
(kt)
Copper (%) Silver (g/t) Gold
(g/t)
Contained Copper (kt) Contained Silver (koz) Contained Gold (koz)
Minto North Open Pit
Proven - - - - - - -
Probable - - - - - - -
Total - - - - - - -
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 625 2.07 6 0.89 13 120 17.9
Total 625 2.07 6 0.89 13 120 17.9
MSD - Area 2/118 Underground
Proven     - - - - - - -
Probable 381 2.06 8 0.87 8 103 10.7
Total 381 2.06 8 0.87 8 103 10.7
MSD - Copper Keel Underground
Proven - - - - - - -
Probable 1,616 1.73 6 0.63 28 315 32.5
Total 1,616 1.73 6 0.63 28 315 32.5
MSD -Wildfire Underground
Proven - - - - - - -
Probable - - - - - - -
Total - - - - - - -
Stockpiles
Proven 489 1.42 6 0.41 7 92 6.4
Total 489 1.42 6 0.41 7 92 6.4
Total Mineral Reserves
Proven 489 1.42 6 0.41 7 92 6.4
Probable 3,429 1.71 5 0.65 59 563 71.7
Total Mineral Reserves 3,919 1.67 5 0.62 65 655 78.2


NOTES: Pooya Mohseni, P.Eng., MBA, Mine Manager at Minto, and a Qualified Person supervised the preparation of the Mineral Reserves estimate of the Minto deposits. The Mineral Reserves estimates for MSD underground deposits (Area 2/118 underground and Copper Keel underground) and Minto East underground have an effective date of December 31, 2016. The Area 2 open pit mineral reserves have an effective date of December 31, 2015. Metal Price assumptions used to calculate the COG for all deposits are: Cu=$2.50, Au=$300, Ag=$3.90. Processing recoveries for all deposits are: Cu=91%, Au=70%, Ag=78%. Open pit mineral reserves are reported above 0.5% Cu COG. Underground mineral reserves are reported above a 1.2% Cu COG. Calculation of mine depletion during 2016 was overseen by Kevin Cymbalisty, P.Eng., Chief Engineer at Minto, and a Qualified Person as defined by NI 43-101.

 

Minto Mine Estimated Mineral Resources as at December 31, 2016 – Inclusive of Mineral Reserves

Classification Tonnes     (kt) Copper (%) Silver 
(g/t)
Gold    (g/t) Contained Copper
(kt) 
Contained Silver 
(koz) 
Contained Gold
(koz) 
Minto South Deposit (MSD) (Open Pit and Underground)
Measured 3,466 1.09 3 0.41 38 374 45.2
Indicated 17,723 1.08 3 0.37 192 1,893 212.0
Total Measured + Indicated 21,189 1.09 3 0.38 230 2,268 257.2
Inferred 12,445 0.80 2 0.22 100 969 89.3
Ridgetop (Open Pit)
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 (Open Pit)
Measured 221 0.94 3 0.21 2 20 1.5
Indicated 257 1.00 6 0.61 3 46 5.0
Total Measured + Indicated 477 0.97 4 0.42 5 67 6.5
Inferred 28 0.70 3 0.32 0 3 0.3
Minto East (Underground)
Measured - - - - - - -
Indicated 919 2.35 7 1.01 22 204 29.8
Total Measured + Indicated 919 2.35 7 1.01 22 204 29.8
Inferred 124 1.48 5 0.60 2 20 2.5
Minto East 2 (Underground)
Measured - - - - - - -
Indicated 2,778 1.72 7 0.80 48 629 71.8
Total Measured + Indicated 2,778 1.72 7 0.80 48 629 71.8
Inferred 1,889 1.38 4 0.50 26 247 30.1
Minto North 2 (formerly Inferno North)
Measured - - - - - - -
Indicated - - - - - - -
Total Measured + Indicated - - - - - - -
Inferred 1,419 1.42 5 0.51 20 214 23.3
Stockpiles

Measured

489 1.42 5 0.41 7 92 6.4
Total Mineral Resources
Total Measured  5,707 1.09 3 0.36 62 592 65.5
Total Indicated 25,211 1.17 4 0.44 295 3,098 352.7
Total Measured + Indicated Resources 30,918 1.15 4 0.42 357 3,690 418.2
Total Inferred Resources 16,223 0.93 3 0.28 150 1,470 146.8


NOTES: Douglas McIlveen, P.Geo., Chief Geologist at Minto, is the Qualified Person responsible for the disclosure of the Minto Mine Mineral Resources taking into account ongoing mine production. Garth Kirkham, P.Geo., FGC, of Kirkham Geosystems Ltd., is an independent Qualified Person responsible for the preparation of the Mineral Resources estimates for the Minto North and Minto East 2 areas. The drilling data cut-off date for Minto North of December 1, 2009. The Minto East 2 area was re-estimated with an effective date of May 31, 2015. Jeremy Vincent, P.Geo., is the Qualified Person responsible for the Minto East resource estimate with an effective date of June 30, 2016. Dr. Wayne Barnett, Ph.D., P.Geo., of SRK Consulting (Canada) Inc., is an independent Qualified Person responsible for the preparation of the Mineral Resources estimate at Ridgetop that takes into account drillhole data until August 2010, and the MSD deposit, which includes the Area 2/118, Wildfire, and Copper Keel areas. The MSD Mineral Resource estimate has an effective date of May 31, 2015. Minto North and Ridgetop areas are amenable to open pit extraction. Area 2/118 and Wildfire areas are amenable to open pit and underground mining, while Minto East, Minto East 2, and Copper Keel areas are suitable for underground mining. Mineral Resources are reported above a 0.5% Cu COG for open pit resources and above a 1.0% Cu cut-off for underground resources. Measured resources contain 489 kt of stockpiled material.