Business and Growth Strategy Progressing as Planned * Strong Operational Base: ~90M Lbs Copper Eq Produced per year * Organic Growth: Drilling New Ingerbelle and Pit 2 areas – Adding Mine Life * M&A - Altona Mining Acquisition with Development Plans Q1 2018 Conference Call TSX:CMMC | ASX:C6C Support Slides April 27, 2018 1
Forward Looking Information This presentation contains forward-looking statements. These forward-looking statements are not based on historical facts, but rather on current expectations, forecasts, estimates and projections about global and regional economic conditions as well as industries that are major markets for Copper Mountain Mining Corporation and projections about future events. These forward-looking statements are subject to risks an uncertainties. These risks and uncertainties could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Therefore, all statements, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are cautioned that such statements may differ materially from actual future events. Readers are referred to the documents, filed by the Company on Sedar at www.Sedar.com, and more specifically such recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. 1 Apr. 27, 2018
Q1 2018 Highlights Q1 ~ $80 million $22 million received Apr 4, 2018 for late Q1 Shipment 2
2018 Mine Activities Western Mining activities in Q1 continued to be Extension focused in the Pit #2, Saddle and Oriole areas with a majority of ore coming from the Pit #2 area. Pit 2 A total of approximately 16 .6 million area tonnes of material was mined, including 6.5 million tonnes of ore Super and 10.1 million tonnes of waste Pit (for a strip ratio of 1.54:1 ) Pit 3 area 184,300 tonnes per day were mined. 3
Quarterly Mill Throughput Mill Throughput Averaged 38,800 tpd for Q1-2018 Quarterly Mill Throughput (tpd) 42 41.2 41 40.1 40 38.8 39 37.4 38 37 35.7 36 35 34 33 32 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 SAG gear replaced in early April 2017 4
Quarterly Cash Costs (US$/lb Cu) US $1.90/lb Cu US $1.81/lb Cu US $1.46/lb Cu US $1.38/lb Cu 5
Guidance and Production 2018 Guidance 2017 Production Copper 80 Million Lbs Cu 75.8 Million Lbs Cu Production Mill Throughput: 40,000 tpd 38,600 tpd Mill Feed: 0.31% Cu 0.317% Cu Mining Rate: 190,000 tpd 198,900 tpd 6
Exploration…Organic Growth New Ingerbelle Drilling Results Positive Follow Up Drill Program Scheduled For This Summer Notable recent intercepts 1 from 2017 Drill Program include: Hole 17IG-07: 88.4 m grading 0.40% copper, 0.30 g/t gold, and 0.77 g/t silver starting at a downhole depth of ~228 m. Hole 17IG-11: 57.9 m grading 0.47% copper, 0.21 g/t gold, and 1.01 g/t Note: Drill holes projected to a single pane so orientations may appear distorted . silver starting at a downhole depth of ~39 m. Hole 17IG-15: 54.8 m grading 0.49% copper, 0.29 g/t gold, and 0.52 g/t silver starting at a downhole depth of ~60 m The New Ingerbelle resource 2 contains 104Mt grading 0.42% Cu Eq. (0.30% Cu and 0.20g/t Au) based on a 0.2% copper cut-off grade. A revised resource estimate, using both historical and new drill data, will be completed in the near future. Additional drill programs and engineering studies will be designed to upgrade resources to reserve status and targeted to define sufficient reserves that could contribute an additional 10 years of production to Copper Mountain’s life -of-mine plan. New Ingerbelle with 2017 diamond drill holes projected to plan view. Section line in the top image is through the 1. See News Release, Feb.1, 2018 for table of results. www.cumtn.com center of the above diagram. 2. Estimated from the historical data (inferred) that is within a whittle pit shell, generated using a US$2.75 copper price 7 and current mine costs
Cloncurry Copper Land Package 100% Altona “includes 397,000 hectares of mineral rights” Advanced copper project: ▪ Permitted Eva Copper Project ▪ 7 million tpy (20,000 tpd) ▪ ~80 million pounds Cu per year ▪ ~17,000 Oz Gold per year Next steps: ▪ Project optimisation Eva Copper ▪ Feasibility Study ▪ Project financing Prolific mineral district ▪ Home to several world-class mines including Mount Isa, Ernest Henry, Dugald River Advanced Discovery: • Companion: 32m @ 1.48% Cu, 0.98 g/t Au • Quamby: 13m @ 0.61% Cu, 4.2 g/t Au • Veiled : 74m @ 0.53% Cu, 0.23 g/t Au 8
Large Landholding with Discovery Potential Queen Sally Mine • 1924 Historical Cobalt Production Eva Copper Project: • Permitted • 80 Million lbs/yr Eva Copper Advanced Discovery: • Companion : 32m @ 1.48% Cu, • 0.98 g/t Au • Quamby: 13m @ 0.61% Cu, 4.2 g/t Au • Veiled: 74m @ 0.53% Cu, 0.23 g/t Au 50km copper anomalism (green to pink above) Multiple discoveries (white) Exploration: New Claims • Multiple targets Geochem Targets (yellow above) within >30km of anomalism Exploration : New Claims • Only a small number of targets Cobalt Targets have been tested to date 9
Q1 2018 Financial Results Three Months Ended March 31, ( In thousands of CAD$ ) 2018 2017 Revenues $77,946 $74,096 Realized copper price (US$ per pound) $3.17 $2.65 Total pounds of contained copper sold 21.7 19.0 (million pounds) Total ounces of gold sold 6,500 6,000 Total ounces of silver sold 80,600 64,000 Average realized Cu price up 19.6% 10
Q1-2018 Financial Results Three Months Ended March 31, (In thousands of CDN $) 2018 2017 $ $ Revenues 77,946 74,096 Cost of sales (71,634) (62,885) Gross Profit 6,312 11,211 Adjusted EBITDA (1) 28,553 16,030 Adjusted earnings 10,602 328 Adjusted earnings per share 0.08 0.00 Cash flow from operations (before w/c) 18,083 20,843 Cash end of period (Post Apr 4-2018 $64.6 Mil) 42,568 30,127 (1) Adjusted EBITDA and Adjusted earnings (loss) are non-GAAP financial measurements, please see disclosure in financial statements and MD&A 11
Q1 2018 Highlights Total production for Q1 2018 was 19.9 Mil lbs Cu , 6,070 oz Au, and 77,900 oz Ag █ Q1-2018 revenue was $77.9 Mil , from the sale of 21.7 Mil lbs Cu, 6,500 oz Au, and 80,600 oz Ag, █ net of pricing adjustments Cash flow from operations of $18.1 Mil for Q1-2018 (before working capital changes) █ Mine production continued at a mining rate of 184,300 tpd █ Site cash costs for Q1-2018 were US$1.46 per lb of Cu produced net of precious metal credits █ Total cash costs for Q1-2018 were US$1.90 per lb of Cu sold net of precious metal credits █ Realized prices on metal sales for 2017 were US$3.17 per lb of Cu █ Cash on hand at end of Q1-2018 $42.6 Mil, (Post Apr 4-2018 $64.6 Mil) █ 12
2018 Going Forward • Acquisition opportunities • Politically stable jurisdictions • Prudent capital use • Capitalize on our development skills • Maximize return on equity Seek accretive Disciplined April 18, 2018 opportunities Altona Mining capital Acquisition management Completed Improve Grow Operating • Mining productivity organically efficiencies • Processing optimization • • Responsible & safe mining Expand resources • practices Follow-up drilling New Ingerbelle • • Minimizing Costs Prioritize Identified drill targets on Australian land package 13
COPPER MOUNTAIN MINING TSX:CMMC | ASX:C6C 14
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