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Minto Mineral Reserves & Resources

 Minto Mine Estimated Mineral Reserves as at December 31, 2017

 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        1 0.76 3 0.18 0 0 0.0
Probable 622 1.05 1 0.27 7 17 5.4
Total 623 1.05 1 0.27 7 17 5.4
Minto East Underground
Proven     - - - - - - -
Probable 617 2.09 6 0.90 13 119 17.8
Total 617 2.09 6 0.90 13 119 17.8
MSD - Area 2/118 Underground
Proven     - - - - - - -
Probable 120 2.47 15 1.30 3 56 5.0
Total 120 2.47 15 1.30 3 56 5.0
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 468 1.02 3 0.25 5 46 3.8
Total 468 1.02 3 0.25 5 46 3.8
Total Mineral Reserves
Proven 469 1.02 3 0.25 5 46 3.8
Probable 2,975 1.69 5 0.63 50 507 60.7
Total Mineral Reserves 3,444 1.60 5 0.58 55 553 64.4

NOTES: Pooya Mohseni, P.Eng., MBA, Director of Technical Services at Capstone, is the Qualified Person responsible for the estimation of the Minto Mineral Reserves. Mineral Reserves are reported as at December 31, 2017. 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, 2017 – 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 1,685 1.48 5 0.56 25 250 30.3
Indicated 5,185 1.64 5 0.61 85 878 101.9
Total Measured + Indicated 6,870 1.60 5 0.60 110 1,128 132.2
Inferred 2,370 1.53 6 0.56 36 461 42.9
Ridgetop (Open Pit)
Measured 1,531 0.96 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 45 431 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 890 2.40 7 1.03 21 201 29.6
Total Measured + Indicated 890 2.40 7 1.03 21 201 29.6
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

468 1.02 3 0.25 5 46 3.8
Total Mineral Resources
Total Measured  3,904 1.19 3 0.38 46 422 47.9
Total Indicated 12,644 1.48 5 0.60 188 2,080 424.4
Total Measured + Indicated Resources 16,548 1.42 5 0.55 234 2,502 290.3
Total Inferred Resources 6,147 1.42 5 0.51 87 962 100.4

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 Krkham, P.Geo., FGC, of Kirkham Geosystems Ltd., is the Qualified Person responsible for the Mineral Resource estimates of Minto North, Minto East 2 and Minto North 2 deposits. Jeremy Vincent, P.Geo., Manager of Production and Development Geology at Capstone is the Qualified Person responsible for the estimate of the Minto East mineral deposit. Mineral Resources are reported as at December 31, 2017 above a 0.5% Cu cut-off grade for potential open-pit scenarios and above a 1.0% Cu cut-off grade for underground mining scenarios. 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. Total may not sum exactly due to rounding.