1. business and industrial
2. company
3. joint venture

CBK
9CP
CPPKF
May 2015
Forward Looking 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 to be materially different from those expressed or implied by such forward-looking statements. 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 statement 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 Pyramid properties. 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.
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.
This presentation and the material contained herein do not constitute a general advertisement or general solicitation or an offer to sell or a solicitation to buy any securities in any jurisdiction.
Such an offer can only be made by prospectus or other authorized offering document. This presentation and materials or fact of their distribution or communication shall not form the basis of, or
be relied on in connection with, any contract, commitment or investment decision whatsoever in relation thereto. CopperBank’s securities have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the United States or to or for the account or benefit of U.S. Persons absent U.S. Registration or an applicable exemption
from U.S. registration requirements. Any public offering in the United States must be made by means of a prospectus containing detailed information about CopperBank and its management, as
well as financial statements.The information in this presentation is not intended in any way to qualify, modify or supplement any prospectus or other information disclosed under the corporate and
securities legislation of any jurisdiction relating to CopperBank. No securities commission or similar authority in Canada has in any was passed upon the adequacy or accuracy of the information
contained in this presentation. The technical information in this presentation has been reviewed and approved by Robert McLeod P.Geo, a “Qualified Person” as defined under NI 43-101.
2
Share Structure
Capitalization
Shares Outstanding (100% of shares are free trading)
130,432,324
Options – Avg. $0.10 strike, Feb. 2020 expiry
3,950,000
Warrants – Avg. $0.227 strike, Aug. 2015 expiry
1,273,066
Warrants – Avg. $0.50 strike, Oct. 2019 expiry
74,238,036
Fully Diluted S/O
209,893,426
Funds Raised (0.10 per share & 0.50 warrant)
$1.6 Million
~Market Capitalization
$7 Million
over 30% held by insiders and management
3
What Has Worked In The Past?
Project Consolidation Has Worked In The Past
$4.00 Cu
Apr 2008:
Teck: Sold for $415M
Sept 2006:
Western Copper: Sold for $26M
$3.00 Cu
Dec2007:
China Minmetals / Jiangxi: Sold for $455M
Jun 2014:
First Quantum: Sold for $470M
Mar 2006:
Pan Pacific: US$137M
$2.00 Cu
May 18, 2005:
Lumina Re-Org
$160M Mkt Cap
$1.00 Cu
May, 2003:
QT & Listing
$10M Mkt Cap
Lumina up 80X
by aggregating projects in a weak market!
& divesting them in the 2006 - 2008 rebound
Q4 2003:
Regalito, San Jorge, Vizcachitas, Relincho Acquisitions
$40M Mkt Cap
Q2 2003:
El Galeno, Taca Taca Acquisitions
$15M Mkt Cap
Good Timing?
M&A Transactions ~ 0.10 /lb of Cu
}
}
M&A Transactions
Lumina Launch
6
M&A Transactions 2010 - 2013 - Truly The Good Old Days
Valuation was + 0.10 cents /lb
& Copper was ~$3.75 /lb
The Vision
✓ CopperBank is a transactional depository of established copper projects
!
✓ Management team of “owner operators” - well known geologists, engineers and public markets
professionals
!
✓ Low burn rate business model due to this 'holding company' strategy with no major outstanding
work commitments
!
✓ Value proposition offers investors massive optionality to copper prices as 'pounds in the ground'
!
✓ First assets are the Pyramid Copper Deposit and San Diego Bay Porphyry Target, both in Alaska
and the PFS level Contact Copper Deposit in Nevada
!
✓ Financed having raised $1.6 million from a well respected field of natural resource investors
!
✓ Additional projects and strategies are under evaluation for the 'bank' with the following criteria
in mind: 100% owned - safe geopolitical jurisdictions - no major obligations outstanding
8
Leadership - Owner Operators
Gianni Kovacevic
Executive Chairman
Robert McLeod
CEO & Director
Management
!
!
Terence Ortslan
Managing Director of TSO & Associates, a firm focusing on independent mining, metals and fertilizer research. Mr. Ortslan holds a
Engineering degree in Mining & Applied Geophysics, and an MBA from McGill University.
Gianni Kovacevic
Corporate development strategist focused on the natural resources sector, having helped raise over $200M for various natural
resource companies over the past decade. Currently serves as Chairman of Romulus Resources Ltd.
Strategic Advisor
Executive Chairman
Robert McLeod
CEO & Director
Board of
Directors
Geologist with 20+ years of exploration, discovery and development experience. Founder and VP Exploration for Underworld
Resources Inc. prior to its acquisition by Kinross in 2010. Current President & CEO of IDM Mining Ltd.
Jamie Lewin has 20 years’ experience in accounting and finance for private and public companies, ranging from brokerage and
investment through to manufacturing, distribution, resources and services. Mr. Lewin is a professional accountant with a MBA, and a
Certificate in Public Company administration. He completed a LLB at Laval University and a BA at Western University
Jamie A. Lewin
CFO
Corporate development strategist focused on the natural resources sector, having helped raise over $200M for various companies
over the past decade. A recently published author and a sought-after speaker on the themes of commodities, demographics and
emerging markets. Currently serves as Chairman of Romulus Resources Ltd.
!
Brad Armstrong
Independent Director
!
Geologist with 20+ years of exploration, discovery and development experience. Founder and VP Exploration for Underworld
Resources Inc. prior to its acquisition by Kinross in 2010. Current President & CEO of IDM Mining Ltd.
Lawyer with 25+ years experience in the fields of environmental, aboriginal, and constitutional law. Current Partner at Lawson
Lundell LLP. Mr. Armstrong also holds a Master’s Degree in Economics from the London School of Economics and Political Science.
Dan Frederiksen
Chartered Accountant with 20+ years experience serving as CFO of numerous public and private Canadian resource companies.
Current CFO & Financial Controller with Armada Investments Ltd.
Todd Hilditch
Over 18 years’ experience in the natural resources sector. Former President & CEO of Salares Lithium prior to its merger with
Talison Lithium Inc. in 2010 to become one of the world’s largest lithium producers. Current President & CEO of Terraco Gold Corp.
Independent Director
Independent Director
9
Our Assets – Established Copper Deposits
Pyramid Deposit in Alaska
Inferred Resource of
1.3Blbs Cu, 74Mlbs Mo, and 0.5Moz Au
& San Diego Bay Porphyry Prospect
Contact Deposit in Nevada
611Mlbs Cu Reserves
M&I Resource of 1.2Blbs Cu
Inferred Resource of 393Mlbs Cu
10
Contact Copper Project - Nevada
•
•
•
•
•
•
•
•
•
100% consolidated ownership and well situated in North East Nevada
One mile west of Highway 93, in the historic Contact Mining District, a past
producer from 1909 - 1940’s - 5.8 million lbs produced
7,000 acres of mining claims (156 patented & 436 un-patented).
Heap leaching with SX-EW to produce copper cathode 2013 Pre-Feasibility completed for 50Mlbs/yr of copper cathode Excellent infrastructure with available roads, grid power, and water
Extensively drilled with over 250,000 feet of drilling (329 core and RC holes)
2011 land acquisition from Allied Nevada doubled land holdings in the area
Significant exploration potential still open in the highly prospective Copper
Ridge and New York targets just West of current deposit
11
Contact Copper Project
Project Site Map (Deposit & Prospects)
Location of current reserves & resources
12
Contact Copper Project
Conceptual View Of Development
13
Contact Copper Project
Conceptual View Of Development
14
Contact Copper Project
Conceptual View Of Development
15
Contact Copper Project
Prospects To The West - Plenty Of Blue Sky Potential
Location of current deposit
New York & Copper Ridge Prospects
Never Drill Tested & Open For Resource Expansion
16
Contact Copper Project
Historical Drilling - Total Footage
Cost To Duplicate? = ~ $20 million CDN?
17
Contact Project core storage facility, located in Twin
Falls, Idaho. Approximately 250,000 total feet.
Contact Copper Project
Evolution Of Contact’s Resource Base
2009
Potential to re-visit project design based on smaller project size focusing on lower tonnage and higher
grades, as demonstrated from the 2012 resource estimate.
2012
Table 14-7 from the 2013 PFS shows the global resource within the block model for all material types at
selected cut-offs.Table 14-7 & table 6-6 - the 2012 resource estimate, are unconstrained by any pit
shell. Please view next slide for the PFS pit-constrained reserves and resources.
2013
18
Contact Copper Project
2013 PFS Revised Pit-Constrained Resource Estimate & 2P Reserves
Category
Tons (‘000)
Grade (% Cu)
Pounds Cu (‘000)
Proven
57,678
0.23%
263,249
Probable
83,416
0.21%
348,499
141,094
0.22%
611,748
Measured
75,473
0.21%
313,968
Indicated
137,640
0.19%
517,526
M&I
213,113
0.20%
831,494
Inferred
12,982
0.20%
52,188
Measured
86,609
0.20%
349,900
Indicated
236,432
0.19%
879,527
M&I
323,041
0.19%
1,229,427
Inferred
106,303
0.19%
393,321
Reserves
Total Reserves
Pit-Constrained Resource
Global Resource
Source: NI 43-101 PFS, Contact Copper Project (Hard Rock Consultants, LLC), Sept. 2013
Note: Resources and Reserves calculated at a cut-off of 0.07% Cu; Resources are inclusive of Reserves
19
Contact Copper Project
2013 PFS Project Highlights & Copper Price Sensitivities
Parameters
Location
Ownership
Stage
Contact
Cu Price
NPV8% (US$M)
IRR (%)
Elko County, Nevada
$2.90
$45.3
15.9%
$3.05
$76.0
21.0%
$3.20
$106.6
25.9%
$3.35
$137.1
30.6%
$3.50
$167.5
35.2%
?
100%
Completed PFS
Mine Type
Open-Pit
Processing
Heap Leach & SX-EW
$4.00 /lb?
Mine Life
9.4 years
$4.50 /lb?
Initial Capex (incl. Contingency)
$188.9M
Avg. Ore Production Rate
Recovery
Strip Ratio
Cash Cost (incl. Taxes & Royalties)
41,000 tpd
76% Cu
Cost To Duplicate? 2.3:1
Time To Duplicate? $1.73/lb Cu
Annual Production
49.2 Mlbs Cu/yr
Total LOM Production
462 Mlbs Cu
After-Tax Project NPV
$107M
After-Tax Project IRR
25.9%
Note: Project economics calculated at $3.20/lb Cu
Source: NI 43-101 PFS, Contact Cu Project (Hard Rock Consultants, LLC), Sept. 2013)
Contact Copper Project
Cap-Ex & Op-Ex in Detail
!
Source: NI 43-101 PFS, Contact Copper Project (Hard Rock Consultants, LLC), Sept. 2013
21
Pyramid Copper Deposit - Alaska
State of Alaska
The Pyramid Project – Landing Craft Transport
•
•
•
•
•
•
•
Recent Porphyry Cu-Mo-Au discovery & established an initial inferred resource
Extensive supergene Cu-enrichment blanket and near surface mineralization
Adjacent to tidewater, 25km from Sand Point (population ~1,000)
Completed 7,486 meters of drilling in three years totalling 30 holes
Established an open-ended mineralized footprint of 1,800 meters by 1,050 meters Situated on Native owned lands (Aleut Corporation), with a good working relationship
Option to Earn 100% Interest from Antofagasta Minerals, a significant shareholder of CopperBank,
by paying $5 million USD if a positive BFS (not time constrained) is completed
Pyramid Copper Deposit
Inferred Mineral Resource
Zone
Supergene
Hypogene
Combined
CutOff
Tonnes
Cu (%)
Cu (lbs)
Au (g/t)
Au (oz)
Mo (%)
Mo (lbs)
NSR ($)
CuEq (%)
>0.4%
69,528,515
0.46%
702,535,609
0.11
239,133
0.021%
32,398,237
$49.35
0.632%
>0.3%
86,079,432
0.42%
792,844,809
0.10
267,853
0.020%
37,646,536
$45.18
0.579%
>0.21%
93,696,332
0.40%
822,878,710
0.09
276,665
0.019%
39,722,759
$43.19
0.553%
>0.1%
94,810,052
0.40%
826,061,951
0.09
277,633
0.019%
39,896,455
$42.85
0.549%
Total
101,526,623
0.37%
826,088,399
0.09
277,633
0.018%
39,897,899
$40.01
0.513%
>0.4%
52,957,717
0.34%
393,205,903
0.09
149,525
0.021%
24,307,227
$38.83
0.498%
>0.3%
75,802,999
0.30%
503,046,447
0.08
205,195
0.020%
33,740,607
$35.61
0.456%
>0.21%
79,128,480
0.30%
514,736,418
0.08
211,806
0.020%
34,707,556
$34.98
0.448%
>0.1%
79,411,773
0.29%
515,554,993
0.08
212,208
0.020%
34,755,283
$34.91
0.447%
Total
88,993,954
0.26%
515,554,993
0.07
212,208
0.018%
34,775,283
$31.15
0.399%
>0.4%
122,486,231
0.41%
1,095,741,511
0.10
388,658
0.021%
56,705,464
$44.80
0.574%
>0.3%
161,882,430
0.36%
1,295,891,256
0.09
473,048
0.020%
71,387,143
$40.70
0.522%
>0.21%
172,824,812
0.35%
1,337,615,128
0.09
488,471
0.020%
74,430,316
$39.43
0.505%
>0.1%
174,221,826
0.35%
1,341,616,944
0.09
489,840
0.019%
74,651,738
$39.23
0.503%
Total
190,520,578
0.32%
1,341,643,392
0.08
489,840
0.018%
74,653,182
$35.88
0.460%
Contemporary Cost To Duplicate? = ~ $8 million USD
23
Note: All numbers have been rounded to reflect the relative accuracy of the estimates.
Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability.The contained copper represents estimated contained metal in the
ground and has not been adjusted for metallurgical recoveries.
Pyramid Copper Deposit
Drill Location Map
24
Pyramid Copper Deposit
Near Surface Mineralization, Open in Multiple Directions and
at Depth
PY10-05: 194.8m of 0.85% Cu Eq. starting at 6.4m
PY11-17: 117.5m of 0.81% Cu Eq. starting at 44.0m
PY10-01: 467.0m of 0.43% Cu Eq. starting at 32.3m
PY12-22: 160.0m of 0.86% Cu Eq. starting at 22.0m
PY12-18: 344.0m of 0.36% Cu Eq. starting at 154.0m;
including 56m of 0.061 Mo%
PY11-16: 155.9m of 0.97% Cu Eq. starting at 94.0m
PY12-19: 70.0m of 0.86% Cu Eq. starting at 22.0m
25
Pyramid Copper Deposit
2011 & 2012 Drill Highlights
Hole ID
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Mo (%)
Cu Eq. (%)
PY10-01
32.3
499.9
467.6
0.27%
0.05
0.019%
0.43%
PY10-02
4.6
356.6
352.1
0.34%
0.07
0.008%
0.45%
PY10-05
6.4
201.2
194.8
0.63%
0.14
0.018%
0.85%
PY11-07
6.0
110.0
104.0
0.56%
0.13
0.009%
0.72%
including
12.0
60.0
48.0
0.74%
0.15
0.011%
0.93%
PY11-10
16.7
327.0
310.3
0.39%
0.10
0.009%
0.53%
PY11-16
94.0
249.9
155.9
0.71%
0.18
0.018%
0.97%
including
226.0
246.0
20.0
0.99%
0.15
0.012%
1.19%
PY11-17
44.0
161.5
117.5
0.60%
0.08
0.024%
0.81%
including
93.0
136.0
43.0
0.77%
0.09
0.026%
1.00%
12PY018
154.0
498.0
344.0
0.110%
0.035
0.036%
0.36%
including
284.0
340.0
56.0
0.114%
0.027
0.061%
0.50%
12PY019
22.0
92.0
70.0
0.717%
0.115
0.008%
0.86%
including
24.0
66.0
42.0
1.008%
0.165
0.009%
1.20%
12PY021
130.0
250.0
120.0
0.224%
0.023
0.026%
0.39%
including
200.0
236.0
36.0
0.448%
0.037
0.043%
0.74%
12PY022
90.0
250.0
160.0
0.267%
0.044
0.027%
0.47%
12PY023
10.0
283.0
273.0
0.267%
0.027
0.001%
0.30%
including
72.0
196.0
124.0
0.371%
0.035
0.001%
0.41%
12PY028
42.0
108.0
66.0
0.214%
0.070
0.009%
0.33%
26
Pyramid Copper Deposit
27
Pyramid Copper Deposit
Geological Mapping
28
San Diego Bay Prospect
Located Only 7km SouthWest of Pyramid
San Diego Bay
29
San Diego Bay Prospect
• Located seven km southeast of Pyramid
• Part of Pyramid Option Agreement
• San Diego Bay is a massive 60 square km area of gossan and pervasive argillic, phyllic, potassic alteration
• Largest colour anomaly in Southern Alaska (Tier 1 porphyry target)
• Alteration is contiguous with Pyramid; possible lithocap (suggested three overlapping)
• Historic sampling returned high-grade Au-Ag-Cu-Pb-Zn
• Very limited exploration for the size of the prospect
30
San Diego Bay Prospect
Adjacent Pyramid Project Has Leached Cap; Reduced Copper
Values at Surface
Copper Anomalies
Gold Anomalies
31
Summary of the Value Proposition
✓ Low burn rate business model !
✓ Owner Operator company culture mindful of expenses and non-accretive dilution
!
✓ Value proposition of massive optionality to copper prices through prospective copper resources
!
✓ Diversified asset base with Pyramid in Alaska and Contact in Nevada
!
✓ Financed having raised $1.6 million during difficult market conditions
!
✓ Additional projects and opportunities under consideration to continue consolidation
!
✓ Management team of well known geologists, engineers and public markets professionals
32
Contact
Gianni Kovacevic – Executive Chairman
Phone: 604-889-0852
E-mail: [email protected]
!
Robert McLeod – CEO & Director
Phone: 604-617-0616
E-mail: [email protected]
!
!
www.copperbankcorp.com
CBK
9CP
CPPKF
33