A New Direction Developing Copper Assets in Canada’s North Jan 2, 2015 May 2013 TSX.V:COL
FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, the timeliness of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. The technical report entitled "Preliminary Economic Assessment of Copper, Gold, and Silver Recovery" (the "July 2014 PEA") is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. Refer to the July 2014 PEA, filed on SEDAR under the Company's profile on July 14, 2014, for a discussion of the applicable qualifications and assumptions and the impact on the results of the previous studies on the Carmacks Project. National Instrument 43-101 Dr. Harlan Meade, PGeol., President and CEO of the Company, is the Qualified Person who has reviewed and approved the content herein, for compliance with National Instrument 43-101. | 2 TSX.V: COL Forward Looking Statements
DEVELOPMENT & EXPLORATION PROJECTS Development CARMACKS PROJECT 100% * (Yukon, Canada) Measured & Indicated Resource 11.98Mt@ 1.07% Cu, 0.456g/t Au and 4.58g/t Ag. 282 M lbs Contained Copper, 171,800 oz Au & 1,705,800 oz Ag YUKON NORTHWEST Exploration TERRITORIES REDSTONE PROPERTY 100% * (NWT, Canada) Stratiform Copper Deposit Thor Historic Resource Estimate 33.4 Mt @ 3.92% Cu & 11.3 g/t Ag BRITISH COLUMBIA Contained Metal (Cu) 2.9Blbs (1.3Mt) Thor Porphyry Copper – Gold* (North Central BC)h Columbia Historic copper-gold occurrences adjacent Kemess South mine complex. *COL is not treating this historical resource estimate as current mineral resources. The Qualified Person responsible for review of the historical resource estimate on behalf of the Company has not performed significant work to classify the historical resource estimate as current mineral resources. Information pertaining to the historical resource estimate may be found in the report titled "Technical Report on the Coates Lake Copper Deposit Nahanni Mining District Western Northwest Territories" filed on SEDAR April 2, 2007 under Western Copper and Gold Corp.’s profile. Details of mineral resources at Carmacks may be found on slide12. Each of Carmacks and Thor are subject to mineral royalties. | 3 TSX.V: COL Projects
COPPER NORTH - Restructuring Corporate and Financial Restructuring: March 1, 2014 appointment of Dr. Harlan Meade as President and CEO. Copper North has raised $1.7 m to fund the re-engineering of Carmacks Project and the pay-down arrears to service providers and for related party debt. March Strategic Review: Improve Project Economics (July 14, 2014 PEA)* Reduction of C1 cash cost of production of copper (see July 14, 2014 PEA)*. Re-engineering of Carmacks Project to reduce Capex and Operating Costs stated in the July 14, 2014 Preliminary Economic Assessment. Increase mineral resources to lengthen potential mine life. * The July 2014 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. See "Forward Looking Statements” on slide 2. | 4 TSX.V: COL Corporate Restructuring
COPPER NORTH – TSX.V.COL Capital Structure (as at Nov 30, 2014) Issued: 106,857,532 Options: 6,285,834 Warrants: 17,950,991 Fully Diluted: 131,094,357 Working Capital Cash: $1,350,000 Payables & Related Party Arrears: $1,340,000 As at Sept 30, 2014* • Includes gross proceeds from November 5, 2014 financing of $358K. • Includes gross proceeds from $490K Nov 25, 2014, early warrant exercise. | 5 TSX.V: COL Share Trading History
COPPER NORTH INVESTMENT ATTRACTION Canada and Yukon: low political risk jurisdiction, stable tax regime, current exchange rate favourable for investors, and 100% ownership. Road accessible; new 10km transmission line to the grid. High-grade copper oxide with significant gold and silver. Reduced transportation and treatment expense for cathode copper as compared to copper concentrates. C1 cash cost of production reduced to US$1.07/lb Cu (see July 14, 2014 PEA*). Near Term Production (2017) (see July 14, 2014 PEA)*. – Forecast annual production of 30Mlbs LME Grade A copper cathode and 17,300 oz gold and 165,000 oz silver. Exploration – Carmacks: Potential expansion of the oxide and sulphide mineral resource. – Thor Property: adjacent the Kemess mine facilities, attractive discovery opportunity. * The July 2014 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. See "Forward Looking Statements" on slide 2. | 6 TSX.V: COL Investment Attraction
CARMACKS COPPER - Good Infrastructure | 7 TSX.V: COL Carmacks Location
CARMACKS BENCHMARKING - SXEW COPPER LEACH Carmacks Project: unique, high grade oxide copper and significant gold and silver credits ( see precautionary statement slide 4). Heap Leach Status % Measured & Indicated Inferred Annual Capex Op Cost Other Projects Tonnes Cu Cu sol% Tonnes Cu Cu sol Production (M$) US$/lb (Million) % (million) % % M lbs Cu Carmacks Cu July 2014 11.98 1.07 0.86 0.09 0.73 0.53 30 US$225 $1.04 Mine life 7+ yrs; Au/Ag Oxide PEA, 100 (incl WC) Recovery; SR 5:1; M3Eng permitting Gold &silver recovery Sulphide 4.34 0.75 0.03 4.03 0.71 0.01 San Jorge 48.4 0.61 55% 53 10 yrs (Argentina) oxide Sulphide 136 0.43 0.19 g/t Au Coro Mining PEA; 100 17.6 0.37 65% 11-22 SR 0.49:1; staged dev. Berta (Chile) permitting oxide 65%CuSol; 50% JV agmt Lady Annie Production 11.2 1.10 48 $2.50 (Aust) Sulphide 65.2 0.71 Newmont- Production 170 0.22 20 25 yrs Phoenix (Arizona) Kipoi (DRC) Production 4 1.33 1 1.10 53 1.13 11yrs Quaterra PEA; 158 0.212 243 0.201 41 US$233 1.89 M3 Eng; 0.9:1 SR;18 yrs MacArthur permitting (Ariz) Sulphide 159 0.292 Central Asia Production 60 89.7 0.10 79.6 0.10 22 US$39 Leach waste dumps; large Kounrad 447Mt sulphide resource (Kazakhstan) Wetar BFS 8.2 2.50 53 $167 1.07 SR 0.86:1; 9.2 yrs (Indonesia) In-Situ Leach Curis Res. Prefeas; 100 429 0.33 63 0.27 55 US$208 $1.11 15 yrs; M3 Eng Florence Insitu advanced (Arizona) permitting Excelsior Prefeas; 100 683 0.29 338 0.21 110 US$285 $0.80 14 years; M3 Eng Gunnison early (Arizona) permitting | 8 TSX.V: COL
CARMACKS PROJECT – Geology & Mineral Zones Carmacks deposits Mineral Resources open at depth & oxidised to ~230m Malachite, cuprite, azurite and tenorite Section 400N minerals dominate oxide mineralization All Mineral Resources based on zones 1,4, 7 & 7A Exploration upside potential in zones 2,12,13,14 & 2000S. See Appendix 8 for Section 400N | 9 TSX.V: COL Carmacks Geology
CARMACKS PROJECT - Cross Section Main Ore Zone Deposit lies within the Yukon Cataclastic Terrane of deformed granitic rocks. Granite Mountain contains pendants of strongly foliated feldspar, biotite, hornblende-quartz gneisses that host the copper-gold-silver mineralization. Structurally controlled, steep dipping mineralized zones. | 10 TSX.V: COL Carmacks Cross Section
CARMACKS PROJECT - Oxide Ores Oxide copper mineralization within rapidly developing new copper-gold district in north central Yukon; deep weathering profiles preserved, similar to as in other arid and semi-arid low latitude environments. | 11 TSX.V: COL Oxide mineralization
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