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Minto Mineral Reserves & Resources

 Minto Mine Estimated Mineral Reserves as at December 31, 2018

 Classification Tonnes
(kt)
Copper (%) Silver (g/t) Gold
(g/t)
Contained Copper (kt) Contained Silver (koz) Contained Gold (koz)
Proven 412 1.20 3 0.25 5 45 3
Probable 1,951 1.79 6 0.67 35 378 42
Total Mineral Reserves 2,363 1.69 6 0.60 40 423 45

NOTES: Pooya Mohseni, P.Eng., MBA, former Director of Technical Services at Capstone, is the 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%. Underground mineral reserves are reported above a 1.2% Cu COG. Calculation of mine depletion until the end of October 2018 was overseen by Kevin Cymbalisty, P.Eng., former Mine Manager at Minto, and a Qualified Person as defined by NI 43-101. Proven mineral reserves include 412 kt of stockpiled material. 

Minto Mine Estimated Mineral Resources as at December 31, 2018 – Inclusive of Mineral Reserves

Classification Tonnes     (kt) Copper (%) Silver 
(g/t)
Gold    (g/t) Contained Copper
(kt) 
Contained Silver 
(koz) 
Contained Gold
(koz) 
Measured 3,795 1.21 3 0.38 46 413 47
Indicated 11,243 1.46 5 0.60 164 1,907 216
Total Measured + Indicated 15,039 1.40 5 0.54 210 2,320 263
Total Inferred Resources 6,100 1.42 5 0.51 86 955 100

NOTES: Douglas McIlveen, P.Geo., formerly the Chief Geologist at Minto, is the Qualified Person responsible for the disclosure of the Minto Mine Mineral Resources taking into account mine production until October 11, 2018. 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 Minto East 2 area was re-esimated 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; the Copper Keel zone was updated in 2017. Ridgetop is 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 412 kt of stockpiled material.