CONTAINED METALS IN THE TMM RESOURCE*
METAL INDICATED RESOURCE INFERRED RESOURCE Copper 8.0 Billion lbs. 13.5 Billion lbs. Nickel 2.5 Billion lbs. 4.6 Billion lbs. Platinum 3.2 Million ozs. 3.9 Million ozs.** Palladium 7.2 Million ozs. 9.7 Million ozs.** Gold 1.7 Million ozs. 2.2 Million ozs.**
* Note - Based on mineral resources estimated at base case 0.3% copper cut-off grade. ** Note - Contained ounces of platinum, palladium, and gold in the Inferred category do not include the Spruce Road deposit.
The AMEC work included an estimation of Exploration Target potential near the Maturi deposit. Three target areas were estimated: Maturi North, Maturi South and Maturi West. The location of the three Exploration Targets is shown in the map accompanying this press release. The estimated tonnage and grades of the Maturi North Exploration Target range from 450 to 690 M tons grading 0.44 to 0.52 %Cu, 0.16 to 0.18 %Ni, 0.08 to 0.12 ppm Pt, 0.21 to 0.29 ppm Pd and 0.05 to 0.07 ppm Au. The estimated tonnage and grades of the Maturi South Exploration Target range from 350 to 740 M tons grading 0.42 to 0.55 %Cu, 0.13 to 0.17 %Ni, 0.21 to 0.28 ppm Pt, 0.51 to 0.55 ppm Pd and 0.09 to 0.13 ppm Au. The estimated tonnage and grades of the Maturi West Exploration Target range from 600 to 980 M tons grading 0.41 to 0.52 %Cu, 0.15 to 0.18 %Ni, 0.10 to 0.13 ppm Pt, 0.26 to 0.32 ppm Pd and 0.06 to 0.08 ppm Au. The grade and tonnage ranges of the three Exploration Targets are based on limited drill hole results. The potential quantity and grade of the Exploration Targets is conceptual in nature, and there has been insufficient exploration to define the target as a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
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