Mineral Resource

The updated NI 43-101 technical report is available on SEDAR.

http://www.sedar.com/FindCompanyDocuments.do

A summary breakdown of the resource estimate by category is tabulated below. Please note that for the table lbs=pounds ; ppm =parts per million; Oz = troy ounces per short ton; and CuEq = Cu+(Mo x 3.879)+(Ag x 0.011).

2013 Underground Configuration Mineral Resource Estimate

The update underground resource consists of three components which include the large porphyry system; the Mammoth, Childs-Aldwinkle, Copper Prince, and Globe breccias; and the new potential open pit on the Old Reliable breccia. Each component is reported separately below in the Measured, Indicated, and Inferred categories. The new resource for the mining scenario for all three components all at appropriate cutoff grades detailed below, totals 2.322 billion total pounds of copper, 41.394 million pounds of molybdenum, and 7.725 million troy ounces of silver in the combined measured and indicated categories contained in 153.699 million tons grading 0.76% Cu, 0.013% Mo, and 0.05 opt Ag. The inferred category at the same respective cutoff grades results in 1.208 billion total pounds of copper, 24.805 million pounds of molybdenum, and 3.195 million troy ounces of silver contained in 86.694 million tons grading 0.70% Cu, 0.014% Mo, and 0.04 opt Ag.

The Old Reliable breccia deposit hosts a potential open pit resource estimated at a cutoff grade of 0.40% CuEq resulting in 45 million total pounds of copper, 0.641 million pounds of molybdenum, and 0.23 million troy ounces of silver in the combined measured and indicated categories contained in 2.982 million tons grading 0.75% Cu, 0.011% Mo, and 0.077 opt Ag (0.85% CuEq). The inferred category at the same cutoff grade results in 1 million total pounds of copper, 0.011 million pounds of molybdenum, and 0.001 million troy ounces of silver contained in .079 million tons grading 0.68% Cu, 0.007% Mo, and 0.013 opt Ag (0.72% CuEq).

Mineral Resource Estimate

Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.