MAY 2021 ROYALTIES, EXPLORATION & DEVELOPMENT - CSE:CBK FWB:9CM OTCQX:CPPKF - Copperbank Resources Corp.
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CSE:CBK │ FWB:9CM │ OTCQX:CPPKF ROYALTIES, EXPLORATION & DEVELOPMENT MAY 2021
Cautionary Statement Some of the statements in this presentation, other than statements of historical fact, are “forward-looking statements” and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of CopperBank Resources Corp. (“CopperBank”) to be materially different from those expressed or implied by such forward- looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the exploration prospects and projected resources of the properties of CopperBank, future capitalization and market capitalization of CopperBank, the successful acquisition of additional copper projects, development of and future expansion drilling on the Copper Creek project property, resource expansion work on Pyramid property, mapping and field work at San Diego Bay property and optimizing work at Contact property. Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information. Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of resources; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which CopperBank does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of First Nations and other Aboriginal groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Contact and Copper Creek properties; and uncertainties with respect to any future acquisitions by CopperBank. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as “Risk Factors” included in CopperBank’s disclosure documents filed on and available at www.sedar.com. This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in CopperBank in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this presentation, and any representation to the contrary is an offence. All of the forward-looking statements contained in this presentation are qualified by these cautionary statements. CopperBank does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. For more information on the CopperBank, readers should refer to www.sedar.com for the CopperBank’s filings with the Canadian securities regulatory authorities. Technical information in this presentation has been reviewed and approved by Mark Pfau, Professional Geologist, a technical advisor to CopperBank and a “Qualified Person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). copperbankcorp.com 2 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Many Reasons to Invest
Two flagship, advanced stage Multi-billion lbs copper Robust project economics
projects in tier 1 jurisdictions resource base1 with optimization opportunities
▪ District-scale properties with resource largely on ▪ Copper Creek: one of the largest undeveloped ▪ Copper Creek: >670,000 feet drilled with metallurgical
private lands in Nevada and Arizona copper porphyry projects in North America with 4.9B testing and a completed PEA
CuEq of M&I resources and 3.7B lbs CuEq of inferred
▪ Excellent access to key infrastructure ▪ Contact Copper: 2013 PFS outlines a low-cost, 50M
▪ Contact Copper: hosts 831M lbs of near-surface, lbs/year open pit heap leach, SX-EW copper operation
▪ Over $100M in historical expenditures
heap leachable copper oxide M&I resources
Excellent potential for resource Compelling value with re- Experienced & proven
expansion and new discoveries rating potential management & Board
▪
▪ Copper Creek: only 40 of over 400 breccia zones have ▪ Over 70% discount to comparable copper ▪ >300 years of combined mineral development and
been drilled to date. Upcoming 12-hole, 6,000 m drill developers on an in situ basis capital markets experience
program ▪ Market cap represents less than 3% of the pre-tax ▪ Highly focused on advancing the CopperBank
▪ Copper Ridge Prospect: traced oxide copper over NPV of both projects at a US$4.00/lb copper price business model and corporate strategy
2,500 m x 600 m with grades of up to 12.4% Cu ▪ Upside from spin-out of copper royalty subsidiary
Building a premier, diversified, U.S. focused copper development company
1. See slides 10 and 22 for additional details. Resource estimates for the Copper Creek and Contact Copper projects were sourced from NI 43-101 compliant technical reports that were prepared for previous operators. CopperBank do not
consider these resource estimates to be current
copperbankcorp.com 3 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
2 Advanced Copper Projects in Nevada & Arizona
COPPER CREEK (100%)
CONTACT COPPER (Pinal County, AZ)
(100%) ▪ ~670,000 feet drilled & $80M spent by
(Elko County, NV) previous operators
▪ Oxide copper deposit with large NI 43-101 ▪ Large historic (2012) NI 43-101 compliant
compliant resource resource
− P&P reserves: 612M lbs Cu at 0.22% Cu − M&I: 4.9B lbs CuEq at 0.49% CuEq
− M&I resources: 831Mlbs Cu at 0.20% Cu − Inferred: 3.7B lbs CuEq at 0.38% CuEq
− Based on 8 of over 400 identified breccia zones
▪ 2013 PFS: low-cost, 50M lbs/year copper
heap leach (SX/EW) operation ▪ 2013 PEA for a 17.5-year bulk underground
− Evaluating optimization opportunities mine producing over 120M lbs Cu per year
▪ Copper Ridge Prospect: traced oxide ▪ Upcoming 12-hole, 10,000 m drill program
copper over 2,500 m x 600 m with sample
grades of up to 12.4% Cu
copperbankcorp.com 4 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Advanced Projects in Tier 1 Jurisdictions
Nevada & Arizona are consistently ranked amongst the top mining jurisdictions in the world
Overhead view of Freeport-McMoRan and Sumitomo’s Morenci copper mine in Arizona
Nevada’s Rankings for Investment
Attractiveness from the Fraser Institute
2020 2019 2018 2017
1st 3rd 1st 3rd
Arizona’s Rankings for Investment
Attractiveness from the Fraser Institute
2020 2019 2018 2017
2nd 9th 8th 9th
copperbankcorp.com 5 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Capital Markets Profile
Capital Structure Share Ownership Share Price and Volume
(Last 12 Months)
Tickers CSE:CBK $0.80 1.40
FWB:9CM
OTCQX:CPPKR $0.70 1.20
Share Price (May 14, 2021) C$0.60 $0.60
1.00
Share Price (C$)
Volume (millions)
52-Week Trading Range C$0.14 – C$0.82 $0.50
0.80
Basic Shares Outstanding 81.5M $0.40
Options 7.7M1 0.60
$0.30
Warrants 1.3M2 0.40
$0.20
FD Shares Outstanding 90.5M
$0.10 0.20
Market Capitalization (Basic) C$48.9M
Cash ~C$1.0M $0.00 0.00
May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21 May-21
Volume Share Price
Well financed for 2021 following a Significant ownership from One of the top performing junior copper
C$1.3 million equity financing management/directors and U.S. Global companies over the last 12 months
1. 7,660,000 options outstanding with a weighted average exercise price of
C$0.33 and a weighted average life of 2.9 years
2. 1,293,341 warrants outstanding with an exercise price of C$1.00 expiring on
August 21, 2022
copperbankcorp.com 6 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Experienced Management & Board
Giulio T. Bonifacio (CPA) │ Chairman
Board of Directors
▪ Over 30 years of experience in senior executive roles in the mining industry
▪ Founder and former Director & CEO of Nevada Copper Corp. from its inception in 2005 to February 2018 ▪ Gianni Kovacevic – CEO, Director
▪ Raised over $700M through equity/project debt financings and +$1 billion corporate transactions >$1B ▪ Giulio T. Bonifacio – Chairman, Director
▪ Led efforts at every stage including exploration, development, permitting and construction
▪ Tony Ricci – CFO, Director
Gianni Kovacevic │ Co-Founder, CEO and Director ▪ Kenneth Cunningham – Independent Director
▪ Renowned expert on energy systems and a sought-after strategist
▪ Gavin C. Dirom – Independent Director
▪ His expertise on copper markets has brought him to lecture at institutions and think-tanks around the world
▪ Avid proponent of realistic environmentalism, he is frequently interviewed by the media and his book, My Technical Advisors
Electrician Drives a Porsche? was published in 2016
▪ R. Joe Sandberg – QP & Technical Advisor
Tony Ricci (CA, CPA) │ CFO and Director ▪ Terence Ortslan – Engineering Advisor
▪ Over 25 years of experience, mainly with public companies listed on Canadian and U.S. stock exchanges ▪ William Willoughby – Engineering Advisor
▪ Director of Great Bear Resources Ltd. (TSXV:GBR), a director and CFO of Kodiak Copper Corp., a former director
and CFO of Keegan Resources Inc., a former director and CFO of Norsemont Mining Inc., and former CFO of both ▪ Thomas Ullrich – Geology Advisor
Petaquilla Minerals Ltd. and Petaquilla Copper Ltd. (combined market capitalization of over $3.5 billion)
▪ Colin Burge – Geology Advisor
R. Joe Sandberg (B.Sc., MBA, AIPG) │ Qualified Person ▪ Joey Wilkins – Geology Advisor
▪ Over 40 years in exploration and project management in the mining industry ▪ Mark Pfau - Consulting Geologist
▪ Extensive experience in base and precious metals project development
▪ Managed the Copper Creek project since 2004. His previous experience includes management positions with
Franco Nevada, Normandy Mining, and Newmont
Management & Board with over 300 years of combined mineral
development and capital markets experience
copperbankcorp.com 7 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Copper Creek
Project
(Pinal County, AZ)
▪ 16 sq. mile property near several
major copper mines/projects
▪ Established mining region with
access to key infrastructure
▪ ~670,000 feet drilled & $80M spent
by previous operators
▪ Massive historic (2012) NI 43-101
compliant resource estimate
− M&I: 4.9B lbs CuEq at 0.49% CuEq
− Inf.: 3.7B lbs CuEq at 0.38% CuEq
▪ Less than 10% of over 400 breccia
zones have been drilled to date
▪ Upcoming Multi-Phase drill program
(6,000m, +6,000m, +8,000m)
copperbankcorp.com 8 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Location & Access to Infrastructure
▪ 100% owned, ~16 square mile
property in Pinal County, Arizona
‒ Contiguous group of patented and
unpatented Federal claims and
Arizona prospecting permits
▪ Near mining and commercial cities
‒ 75 miles northeast of Tucson
‒ 15 miles northeast of San Manuel
▪ Easily accessible by paved highways
and gravel roads
▪ Established mining region
‒ 30 miles SE of ASARCO Ray mine (1
of 2 copper smelters in Arizona)
▪ Access to rail, low-cost power, water
and skilled labour
▪ Arizona is consistently ranked
amongst the top mining jurisdictions
in the world At the intersection of a major southwest and northeast trending porphyry
copper belts that hosts over 100M tonnes of contained copper resources
copperbankcorp.com 9 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Large Open Pit Resource
Historic (2012) NI 43-101 Compliant Resource Estimate
CuEq Tons Cu Mo Ag CuEq Cu Mo Ag CuEq
▪ Historic resource (2012) Category
Cut-Off ('000) (%) (%) (ppm) (%) (Blbs) (Mlbs) (Moz) (Blbs)
prepared by Independent
0.20% Measured 45,488 0.72% 0.013% 2.63 0.80% 0.7 12 4 0.7
Mining Consultants
Indicated 456,687 0.42% 0.008% 1.24 0.46% 3.8 73 18 4.2
▪ Based on 480 drill holes and
M&I 501,175 0.44% 0.009% 1.37 0.49% 4.4 87 20 4.9
over 670,000 feet of drilling
Inferred 481,309 0.34% 0.007% 0.90 0.38% 3.3 63 13 3.7
▪ Property hosts hundreds of
0.30% Measured 37,827 0.82% 0.015% 2.94 0.91% 0.6 11 4 0.7
breccia deposits and multiple
Indicated 305,120 0.51% 0.010% 1.49 0.57% 3.1 61 15 3.4
porphyry copper deposits
M&I 342,947 0.54% 0.011% 1.65 0.60% 3.7 73 17 4.1
▪ Resource area extends over a Inferred 256,329 0.45% 0.009% 1.24 0.49% 2.3 44 9 2.5
strike length of ~4 km and is
open in all directions * The foregoing historical mineral resource estimate (the “Historical Estimate”) was published in a technical report titled “Copper Creek 2012 Mineral Resource Update, Pinal County, Arizona,
USA, Technical Report” prepared for Redhawk by Independent Mining Consultants Inc., dated and filed by Redhawk on SEDAR on June 25, 2012. A qualified person (as defined in National
Instrument 43-101 (“NI 43-101”)), has not done sufficient work to classify the foregoing historical estimate as current mineral resources or reserves, and CopperBank is not treating the
estimate as current mineral resources or reserves. The Historical Estimate was calculated using a 0.20% copper equivalent (“CuEq”) cut-off grade. The Historical Estimate is based on metal
prices of US$3.00/lb CuEq and contained within an open pit geometry using industry comparable estimates for direct mining, milling, and G&A costs. The ratios for calculating CuEq are
based upon US$2.75/lb Cu, US$12.00/lb Mo, and US$20.00/oz Ag and recoveries of 90% for Cu, 80% for Mo, and 90% for Ag.
Because the Historical Estimate was completed relatively recently in 2012 and in compliance with the definitions for mineral resource categorization set out by the Canadian Institute of
Mining, Metallurgy and Petroleum, and disclosed in a technical report conforming to the requirements of NI 43-101, CopperBank is of the view that the Historical Estimate is generally
reliable and relevant to an evaluation of the property, however CopperBank has not completed any independent verification of the Historical Estimate. In order to verify the Historical Estimate
as current, a qualified person (as defined in NI 43-101) would have to conduct a site visit on behalf of CopperBank and complete standard data verification procedures. CopperBank
intends to complete additional resource expansion drilling on Copper Creek for purposes of increasing and upgrading the mineral resource prior to completion of a new mineral resource
estimate.
Totals may not add due to rounding.
copperbankcorp.com 10 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFMajor Copper Deposits in Arizona
Copper Creek has the highest CuEq grade amongst major (multi-billion lb CuEq) copper deposits in Arizona
Major Copper Deposits in Arizona by CuEq Grade and Contained CuEq Resources
Source: company reports
copperbankcorp.com 11 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFCopper Creek Property & Historical Resources
▪ Only 8% of the 16 square mile
property has been explored to
date
▪ ~US$80 million spent by
previous operators
▪ Historical work has identified
over 400 known breccia
deposits
‒ Only 8 are included in the
resource and have been
adequately drill tested
‒ Only 35 have had drilling on or
near them
copperbankcorp.com 12 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFUpcoming Phase I Drill Program
▪ Phase I drill program to test 11 of 20
highly prospective brownfield and
greenfield prospects
▪ Program to consist of 12 holes totalling
6,000 m, all on patented land owned by
CopperBank
▪ Focus on near-surface mineralization
‒ Targeting breccia pipes, vein swarms,
disseminated porphyry hypogene
mineralization, and secondary enrichment
zones
‒ Holes to be drilled to a max depth of 325 m
▪ To be followed by a Phase II drill program
(13 holes) with an updated technical
report and resource estimate shortly after
copperbankcorp.com 13 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFDrill Plan Overlay Breccia Pipes copperbankcorp.com 14 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Drill Plan Overlay Ground Mag Survey copperbankcorp.com 15 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Drill Plan Overlay On Historical Resource copperbankcorp.com 16 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Drill Plan Overlay On Historical Resource copperbankcorp.com 17 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Drill Plan & Historical Resource Cross Section
▪ Right: cross section
block model at 0.40%
CuEq looking at 030
with planned 2021
diamond drill holes
▪ Left: cross section block
model at 0.20% CuEq
looking at 030 with
planned 2021 diamond
drill holes
copperbankcorp.com 18 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFEvaluating Development Opportunities
Evaluating multiple mine development opportunities Summary of the 2013 PEA
with a focus on open pit mining Throughput Rate ▪ 25,000 short tons per day
Mining Method ▪ Room and pillar with backfilling
▪ Underground room and pillar/post pillar with backfill
▪ Standard flotation
▪ Conventional grind/float sulphide concentrator, producing copper Processing Method ▪ Production of a 30% copper concentrate with
and molybdenum concentrate molybdenum and silver by-products
▪ Reasonable grind size, moderate work index Mine Life ▪ 17.5 years
▪ Multiple areas for further optimization Copper Grades
▪ Years 1-3 average: 0.90%
▪ LOM average: 0.77%
Recoveries ▪ >90% Cu and Ag, 80% Mo
▪ Years 1-3 average: 136.3 million lbs
Copper Production ▪ LOM average annual: 121.7 million lbs
▪ LOM: 2.1 billion lbs
C1 Cash Cost ▪ US$1.74/lb Cu (net of by-products)
▪ Initial: US$857 million
CAPEX
▪ LOM sustaining: US$343 million
▪ Copper: US$3.00 to US$3.60/lb
Metal Price Forecast ▪ Molybdenum: US$12/lb
▪ Silver: US$20/oz
▪ Pre-tax NPV7.5%: US$488M
Project Economics
▪ Pre-tax IRR: 16.0% (Payback period: 4.5 years)
Source: NI 43-101 technical report titled “Redhawk Copper, Inc., Copper Creek Project, Preliminary Economic Assessment, 25,000 TPD Mill with an Underground Mine for Development of the Copper Creek Resource”, prepared by Mr. Joseph M. Keane, P.E.;
Mr. Herb Welhener, MMSA-QPM; Mr. Steve Milne, P.E.; Mr. Gene Muller, P.E; Mr. David Nicholas and SGS Metcon/KD Engineering dated July 25, 2013, amended October 28, 2013.
copperbankcorp.com 19 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFContact
Copper Project
(Elko County, NV)
▪ 5,935 acres, with most of the
resource on royalty-free, private land
▪ Premier mining region with access to
key infrastructure
▪ Oxide copper deposit with large NI
43-101 compliant resource
− P&P reserves: 612M lbs Cu at 0.22% Cu
− M&I resources: 831Mlbs Cu at 0.20% Cu
▪ 2013 PFS demonstrates potential for
low-cost, 50M lbs/year copper heap
leach (SX/EW) operation
▪ Copper Ridge Prospect: traced oxide
copper over 2,500 m x 600 m with
sample grades of up to 12.4% Cu
copperbankcorp.com 20 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFLocation & Access to Infrastructure
▪ 50 miles north of the town of
Wells in Elko County Nevada
▪ 100% ownership 5,935 acres
of patented and unpatented
mining claims
▪ Majority of current reserves
are on royalty-free private
property
▪ Easily accessible: only 1 mile
west of U.S. Highway 93
▪ Excellent access to power,
water and local mining
services
21
copperbankcorp.com 21 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFLarge Historical Reserve & Resource Base
Historic NI 43-101 Compliant Reserves and Resources
▪ Disseminated oxide copper mineralization in quartz Tons Cu Cu
Category
veins within large structural zones ('000) (%) (Mlbs)
Proven Reserves 57,678 0.23% 263.2
▪ Mineralization is oxidized to depths of up to 600 m
Probable Reserves 83,416 0.21% 348.5
▪ Over 86,000 m has been drilled at the Contact deposit P&P Reserves 141,094 0.22% 611.7
between 1967 and 2012 Measured Resources 75,473 0.21% 314.0
Indicated Resources 137,640 0.19% 517.5
M&I Resources 213,113 0.20% 831.5
Inferred Resources 12,982 0.20% 52.2
• Mineral reserves reported at 0.07% Cu cut-off, and pit-constrained within a Lerchs-Grossman pit shell based on a
copper price of US$4.00/lb Cu and operating cost and recovery parameters as described in the October 2013 Pre-
Feasibility Study.
• Measured and Indicated Mineral Resources are inclusive of mineral reserves and are captured within the pit shell based
on a 0.05% Cu cut-off. Pit optimization is based on assumed copper price of US$4.00/lb.
* The foregoing historical mineral reserves and resources estimate (the “Historical Estimate”) was published in a technical
report titled “NI 43-101 Pre-Feasibility Study on the Contact Copper Project” prepared for International Enexco, Ltd. by
Hard Rock Consulting, LLC dated and filed by International Enexco Ltd. on SEDAR on October 1, 2013. A qualified person
(as defined in National Instrument 43-101 (“NI 43-101”)), has not done sufficient work to classify the foregoing historical
estimate as current mineral resources or reserves, and CopperBank is not treating the estimate as current mineral
resources or reserves.
Because the Historical Estimate was completed relatively recently in 2012 and in compliance with the definitions for mineral
resource categorization set out by the Canadian Institute of Mining, Metallurgy and Petroleum, and disclosed in a technical
report conforming to the requirements of NI 43-101, CopperBank is of the view that the Historical Estimate is generally
reliable and relevant to an evaluation of the property, however CopperBank has not completed any independent verification
of the Historical Estimate. In order to verify the Historical Estimate as current, a qualified person (as defined in NI 43-101)
would have to conduct a site visit on behalf of CopperBank and complete standard data verification procedures.
CopperBank intends to complete additional resource expansion drilling on Copper Creek for purposes of increasing and
upgrading the mineral resource prior to completion of a new mineral resource estimate.
Totals may not add due to rounding.
copperbankcorp.com 22 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFLarge-Scale Copper Oxide Deposit
Contact Copper Oxide Project: Optimization Area Of Focus
▪ Traced over 2,300 m east-
west and 915 m north-
south
‒ Open to the west
‒ Open to the north and south
▪ Highlights from previously
drilled near-surface holes
‒ 22.9 m at 1.00% Cu starting
at 44.2 m (EN-104)
‒ 59.4 m at 0.70% Cu starting
at 3.0 m (EN-111)
‒ 18.9 m at 0.70% Cu starting Traced over 2.3 km strike
at surface (EN-68)
‒ 25.9 m at 0.74% Cu starting
at surface (EN-109)
copperbankcorp.com 23 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFFocus on Optimizing 2013 PFS
Summary of the 2013 PFS
Numerous optimization opportunities: ▪ 29,000 tons/day with ramp-up to 52,000 tons/
Throughput Rate
▪ Potential for run-of-mine leaching day (41,000 tons/day average)
Mining Method ▪ Conventional open pit mining
▪ Isolate and prioritize high-grade pods
▪ Two-stage crushing and heap leach
▪ Promote higher grade material via pit-phasing and grade control Processing Method
▪ SX-EW plant to produce copper cathode
▪ Determine bottlenecks in heap leach system via crusher work Mine Life ▪ 9.4 years
index, leach pad size and leaching time, and SX-EW capacity LOM Ore ▪ 141.1M tons at 0.22% Cu
(input and output)
LOM Strip Ratio ▪ 2.3:1 (waste:ore)
▪ Reserve growth by drilling known extensions and nearby targets Recoveries ▪ 76% over LOM
▪ Average annual: 50 million lbs
Copper Production
After-Tax NPV8% at Various Copper Prices (US$M) ▪ LOM: 462 million lbs
C1 Cash Cost ▪ US$1.73/lb Cu
$167.5
▪ Initial: US$189 million
$137.1 CAPEX
▪ LOM sustaining: US$126 million
$106.6
$76.0 ▪ After-tax NPV8%: US$106.7M
Project Economics
▪ Pre-tax IRR: 25.9%
$45.3 (US$3.20/lb of copper)
▪ Payback period: 3.4 years
Source: NI 43-101 technical report titled “NI 43-101 Pre-Feasibility Study on the Contact Copper Project” prepared for
$2.90 $3.05 $3.20 $3.35 $3.50 International Enexco, Ltd. by Hard Rock Consulting, LLC dated and filed by International Enexco Ltd. on SEDAR on
October 1, 2013 and amended on March 14, 2016.
copperbankcorp.com 24 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFExploration Upside - Copper Ridge Area ▪ Excellent potential to materially expand the Contact deposit in multiple directions ▪ Past surface sampling programs at the Copper Ridge and New York prospects indicate the potential for multiple comparable size oxide copper deposits across the 5,900 acre property copperbankcorp.com 25 CSE:CBK │ FWB:9CM │ OTCQX:CPPKF
Copper Ridge Prospect
High-Grade
▪ 1 mile southwest of the Sample Results
main Contact copper Sample # Cu (%)
deposit 51705 2.94
51707 3.05
▪ High-grade copper assays 86675 3.44
85317 9.79
(up to 12.4% Cu) from 28 85319 4.69
rock chip samples 85321 1.44
85322 1.35
▪ Oxide copper 85323 2.40
mineralization traced over 51705 2.94
51707 3.05
a 2,500 m by 600 m area 86675 3.44
▪ Has yet to be drill-tested 85317 9.79
85319 4.69
and previous activity is 85321 1.44
limited to shallow, historic 85323 2.40
86680 5.57
prospect pits 86684 2.58
86686 2.73
86687 1.53
Demonstrates substantial 86690 2.24
exploration potential across 86691 10.20
86692 12.40
5,900-acre property 86670 3.12
86673 2.03
copperbankcorp.com 26 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFCopper Royalty Opportunity
▪ Our 100% owned projects are almost entirely
royalty-free
‒ Only a tiny portion of our multi-billion pound copper
resource base has any outstanding royalties
▪ In late 2019, formed a wholly-owned subsidiary
to hold NSR royalties on our key projects
‒ Potential to become one of a few copper-focused royalty
companies with exposure to advanced stage projects in
tier 1 mining jurisdictions
‒ Potential to add third parties royalties of copper projects to
build a more diversified royalty company
▪ Spin-out of this new copper royalty company
provides significant upside for current
shareholders
copperbankcorp.com 27 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFTrading at a Discount to Peer Group
EV/Resource Multiples of Junior Copper Companies with Comparable Copper Projects (C¢/lb CuEq)1
Companies with U.S. projects Companies with projects outside of the U.S.
26.01
12.85
10.43
5.55
3.62
3.62
1.87
1.52
1.30
1.23
1.09
1.05
1.05
0.97
0.94
0.87
0.85
0.61
0.58
0.53
0.53
0.53
0.48
0.43
0.32
Trading at a >70% discount to the universe of comparable copper exploration & development companies
1. Source: company reports. Copper equivalent resources calculated using spot metal prices as of May 14, 2021
2. World Copper is shown pro forma the announced acquisition of Cardero Resource Corp.
Note: reflects market prices as of May 14, 2021
copperbankcorp.com 28 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFSignificant Upside
Pre-Tax NPV of CopperBank’s Projects1 (US$M)
$1,421
▪ CopperBank has two advanced stage copper Copper Creek Project
projects in tier 1 mining jurisdictions (NV & AZ) Contact Copper Project
$341
‒ Both have been subject to extensive drilling and Market Cap $1,144
metallurgical testing
‒ Both have a completed PEA or PFS $276
$867
▪ CopperBank’s market capitalization is only 3%
of the pre-tax NPV of its projects at a US$4/lb $211
copper price $590
▪ Analysis does not factor the upside from $148 $1,080
resource growth, optimization opportunities and $868
$315
new discoveries $83
$655
$443
▪ Demonstrates the substantial re-rating potential
as we continue to advance our key projects $231 Current Market Cap: ~US$44M
$3.00 $3.25 $3.50 $3.75 $4.00
Copper Price (US$/lb)
1. Source: Preliminary Economic Assessment – Copper Creek Project (SGS Metcon / KD Engineering, 2013); Pre-Feasibility Study – Contact Copper Project (International Enexco, Ltd., 2013). Copper Creek’s pre-tax NPV estimates are reported at a 7.5%
discount rate. Contact Copper pre-tax NPVs are reported at an 8% discount rate.
Note: Pre-tax sensitivities for Contact Copper are not available in the published report, simplifying assumptions were made to convert post-tax figures to pre-tax figures based on base-case copper price pre and post-tax reported NPVs
copperbankcorp.com 29 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFCSE:CBK │ FWB:9CM │ OTCQX:CPPKF copperbankcorp.com Contact Information ▪ 2706 – 1011 West Cordova Street ▪ Vancouver, BC, Canada ▪ Phone: (604) 484-7855 ▪ Email: info@copperbank.com Gianni Kovacevic │ Co-Founder, CEO and Director ▪ Phone: (604) 889-0852 ▪ Email: gk@copperbankcorp.com
Copper Creek: Metallurgical Test Work
Cu-Mo second cleaner flotation test results on composite samples
▪ Locked cycle flotation tests on the
average grade composites showed
over 95% copper recoveries and 32%
to 62% copper concentrate grades
‒ Molybdenum recoveries were
proportional to head grades. 94% Mo
recoveries from high-grade samples and
28% recoveries from low-grade samples
▪ Extensive open cycle Cu-Mo second
cleaner flotation testing completed by
METCON indicated high copper
recoveries and concentrate grades
‒ Copper recoveries ranged from 77% to
93%
‒ Molybdenum recoveries ranged from
38% to 97%
copperbankcorp.com 31 CSE:CBK │ FWB:9CM │ OTCQX:CPPKFYou can also read
