SOUTHWEST & NORTHWEST EXPLORATION PROJECTS BINGHAM CANYON MINING DISTRICT SALT LAKE AND TOOELE COUNTIES, UTAH SUMMARY FRIDAY, MARCH 20, 2009 GRAND CENTRAL SILVER MINES, INC. 2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006
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Tooele County Salt Lake County GOOGLE EARTH September, 2006 2006 Aerial Photograph With Southwest & Northwest Properties Grand Central Silver Mines, Inc. Southwest-Northwest Properties Salt Lake & Tooele Counties, Utah 2 GRAND CENTRAL SILVER MINES, INC. NAD 83 Harn (feet) 2340 TRINITY MILLS, SUITE 300 Utah State Plane (Central) CARROLLTON, TEXAS 75006
Grand Central Silver Mines Southwest Property Summary Work to date includes: One round of 13 RC drill holes (3268 1.52m samples), 3-D IP survey, 300 rock chip samples (ICP-MS) (two generations), 162 soil samples (partial extraction), 344 underground samples (ICP-MS), and one vertical RC/Core “Copper” test to 830.6m Gold+/-silver mineralization was encountered in all drill holes highlighted by 7.62m of 700ppb Au & 22.6ppm Ag @ 41.15m in hole 3, 7.62m of 633ppb Au @42.67m in hole 7, 6.1m of 2528ppb Au, 7.65ppm Ag, & 0.36% Zn @ 315.47m in hole 8, 3.05m of 1068ppb Au & 189.2ppm Ag @ 193.55m in hole 2, and12.19m of 159ppb Au, 25.0ppm Ag & 0.23% Zn @ 303.28m in hole 13 Two pulses of gold mineralization observed: one with the silver and other base metals, the second with manganese, zinc, and antimony, but without silver Gold+/-silver mineralization principally hosted in Pennsylvanian Bingham Mine Formation calcareous sandstone, quartzite, and limestone (Jordan & Commercial) Mineralization focused in multitude of anastomizing NE-SW trending faults and shears in a dilational dextral shear couple Similar to Barneys Canyon and Melco (1.5M oz combined), the Southwest property lies within the gold-arsenic halo to the Bingham Canyon porphyry Cu-Mo-Au deposit though was never drill tested until 2006 by GCSM. Pre-mining Melco dimensions were ~60m width by 730m length and >300m depth extent and ~1M contained ounces of gold The Southwest property consists of 114 acres (46.2 hectares) patented claims 100% owned by Grand Central Silver Mines, accessed by an excellent county maintained road The second round of surface sampling focused on newly exposed drill sites and road cuts, revealing additional NE trending gold+/-silver mineralized shears containing samples running up to 0.506 opt gold and 252 opt silver Silver is strongly partitioned to the northeast 1/3rd of the property at the surface and relatively absent in the southwest 2/3rd though gold shows no partitioning. However, drill holes in the southern 2/3rd of the property show strongly elevated silver with gold Additional gold+/-silver targets have not been tested and upside potential to identify an economic deposit is excellent Interpretation of the 3-D IP indicates weak chargeability anomalies have not been tested Potential synergy between a gold-silver discovery at either the Southwest and/or Northwest properties and Kennecott Utah Copper’s Barneys Canyon heap leach operation GRAND CENTRAL SILVER MINES, INC. 2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006 3
4 2007 PHOTO LOOKING NORTHEAST FROM GRAND CENTRAL SOUTHWEST PROPERTY INTO THE BINGHAM CANYON MINE, UTAH
NORTHWEST PROPERTY NORTHWEST PROPERTY 5 LOOKING NORTH FROM SOUTHWEST PROPERTY TOWARDS NORTHWEST PROPERTY SEPTEMBER 2008
6 GRAND CENTRAL REVERSE CIRCULATION DRILL RIG - LOOKING SOUTH DRILL HOLE SW-08-01 SEPTEMBER 2008
Salt Lake County Tooele County 13A JEEP TRAIL ON RIDGE LINE 1 UTAH METALS TUNNEL 5A 2 12A M a a i i n n t t a a i i M n n e e d d t t y y R n n R o o u u o o a a C d d C 3 10A 6A SW-08-01 9A 4 11A 5 7A 8A C o u n t y M a i n t a i n e d R o a d Drill Site Layout Grand Central Silver Mines, Inc. On Topography Southwest Project Salt Lake & Tooele Counties, Utah LEGEND DRILL HOLE 08-01 DRILL HOLE DRILL PADS AND DRILL ROADS GRAND CENTRAL SILVER MINES, INC. NAD 83 Harn (feet) 7 2340 TRINITY MILLS, SUITE 300 Utah State Plane (Central) CARROLLTON, TEXAS 75006
Clipper Peak West Mtn Middle Canyon Fork ELEVATION FT 0 km 1 9070 el 9000 L 9068 el 9207 el (3280 ft) Grand Central Silver Mines 8500 el Southw est Property Outline 8000 L 7000 L 6000 L Bingham Pit 0.7% Cu shell 5000 L Butterfield Canyon 4000 L 3000 L A-Bed Skarn host 2000 L 1000 L 0 L 0 E -5000 E -15000 E -10000 E Kennecott Utah Copper options • Underground and/or open pit pushbacks Approximate Projection • Could extend life of operation to 2036 Grand Central Silver Mines, Inc. of Gold at surface • Significant molybdenum potential at depth INDUCED POLARIZATION Copper at surface Cross Section Looking West Induced polarization anomaly 8 SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007 0 1000 FT 2000 FT 3000 FT 4000 FT
HIGHLAND BOY PUSHBACK (not to scale) OVERBURDEN BINGHAM CANYON MINE BINGHAM CANYON MINE Tooele County ORE Salt Lake County 6380 ft CLIPPER PEAK 9207 Feet 3229 ft 3090 ft 3892 ft UTAH METALS TUNNEL MIDDLE CANYON FORK 487 ft 8500 Feet 8500 Feet 3957 ft 9068 Feet 9068 Feet WEST MOUNTAIN WEST MOUNTAIN 559 ft 2280 ft 6772 ft 9070 Feet 9070 Feet SOUTHWEST PROPERTY B I N G H A M O R B I T P R O J E C T I O N BUTTERFIELD CANYON MIDDLE CANYON 2007 GOOGLE EARTH PRO APPROXIMATE PROJECTION Grand Central Silver Mines, Inc. OF GOLD AT SURFACE Southwest Property GRAND CENTRAL SILVER MINES, INC. GOLD AT SURFACE 2340 TRINITY MILLS, SUITE 300 BINGHAM ORBIT PROJECTION 9 NORTH CARROLLTON, TEXAS 75006 SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007 0’ 1500’ 3000’
BINGHAM CANYON MINE BINGHAM CANYON MINE CLIPPER PEAK 9207 Feet UTAH METALS TUNNEL F MIDDLE CANYON FORK K A WEST MOUNTAIN WEST MOUNTAIN 8500 Feet 8500 Feet G 9068 Feet 9068 Feet M N L C E B H 9070 Feet 9070 Feet I J B D I N G H A M SOUTHWEST PROPERTY O R B I T P R O J E C T I O N BUTTERFIELD CANYON Grand Central Silver Mines, Inc. MIDDLE CANYON KENNECOTT CORE DRILL PLAN MAY, 2008 Southwest Property 2007 GOOGLE EARTH PRO Access Road - Pre-existing COPPER AT SURFACE Access Roads, pre-existing Improved Roads BINGHAM ORBIT PROJECTION Improved Roads, Low Priority Existing Permit Boundary APPROXIMATE PROJECTION Completed Drill Site - High Priority Proposed Drill Site - Secondary (D-N) OF COPPER AT SURFACE Drill Hole in Progress NORTH 10 GRAND CENTRAL SILVER MINES, INC. 0’ 1500’ 3000’ 2340 TRINITY MILLS, SUITE 300 SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007 CARROLLTON, TEXAS 75006
BINGHAM CANYON MINE BINGHAM CANYON MINE CLIPPER PEAK 9207 Feet UTAH METALS TUNNEL F MIDDLE CANYON FORK K A WEST MOUNTAIN WEST MOUNTAIN 8500 Feet 8500 Feet G 9068 Feet 9068 Feet M N L C E B H 9070 Feet 9070 Feet I J B D I N G H A M O SOUTHWEST PROPERTY R B I T P R O J E C T I O N BUTTERFIELD CANYON MIDDLE CANYON KENNECOTT CORE DRILL PLAN MAY, 2008 Grand Central Silver Mines, Inc. 2007 GOOGLE EARTH PRO Access Road - Pre-existing Access Roads, pre-existing Southwest Property Improved Roads INDUCED POLARIZATION ANOMALY Improved Roads, Low Priority Existing Permit Boundary BINGHAM ORBIT PROJECTION Completed Drill Site - High Priority NORTH Proposed Drill Site - Secondary (D-N) Drill Hole in Progress APPROXIMATE PROJECTION OF 0’ 1500’ 3000’ GRAND CENTRAL SILVER MINES, INC. INDUCED POLARIZATION ANOMALY 11 2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006 SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007
F K L N B E 9070 8800 UTAH METALS TUNNEL SOUTHWEST PROPERTY SOUTHWEST PROPERTY KENNECOTT CORE DRILL PLAN MAY, 2008 Access Roads, pre-existing Access Road - Pre-existing Improved Roads Improved Roads, Low Priority Grand Central Silver Mines, Inc. Existing Permit Boundary GEOLOGIC MAP OF THE SOUTHWEST PROPERTY Completed Drill Site - High Priority Proposed Drill Site - Secondary (D-N) Compiled from Tooker and Roberts, USGS, 1988, 1998 Drill Hole in Progress GRAND CENTRAL SILVER MINES, INC. 2340 TRINITY MILLS, SUITE 300 Patented Claims LEGEND Utah Metals Tunnel Soil Anomoly CARROLLTON, TEXAS 75006 Dump Outline (1-2002) Mine Dump Pit Outline (1-2002) Qal - Quarternary Alluvium Anticline TI - Porphyry Fault Projection Pobc - Oquirrh Group, Commercial & Jordan limestone Faults Pobc - Oquirrh Group, Bingham Mine Fm, Cliipper Peak Normal N Faults Member, quartzite, limestone, and calcareous sandstone Normal S Faults Pobp - Oquirrh Group, Butterfield Peaks Fm, limestone, quartzite, calcareous quartzite, calcareous sandstone Overturned Anticline Overturned Syncline contour intervals = 40’ NORTH Syncline 12 Thrust Faults Feet Major Fault (Downthrown Side Shown) Strike and Dip 0 1000’ 2000’ 1000’ 25
Grand Central Silver Mines, Inc. NORTHWEST PROPERTY Tooele & Salt Lake Counties, Utah 1997 ORTHO PHOTOGRAPHY NORTH GRAND CENTRAL SILVER MINES, INC. 13 2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006
BARNEY’S CANYON (Au) BARNEY’S CANYON (Au) MELCO (Au) MELCO (Au) NORTHWEST PROPERTY NORTHWEST PROPERTY NORTHWEST LEASES NORTHWEST LEASES SOUTHWEST PROPERTY SOUTHWEST PROPERTY Grand Central Silver Mines, Inc. KENNECOTT BINGHAM CANYON MINE 14 GRAND CENTRAL SILVER MINES, INC. EXISTING MINE PERMIT BOUNDARY 2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006
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