Schaft Creek Project.

Introduction

One of the largest undeveloped porphyry deposits in North America.

The Schaft Creek project is managed through the Schaft Creek Joint Venture (SCJV). Copper Fox holds a 25% interest while Teck Resources Limited is the Operator and holds a 75% interest. Pursuant to the joint venture agreement, Teck is responsible for providing all funding for the project up to production.

Schaft Creek comprises 60,268 hectares and is one of the largest undeveloped porphyry copper-gold-molybdenum-silver deposits in North America, located in an area of northwestern BC referred to as the “Golden Triangle”.

Mineral Resource & PEA

The mineralization contains significant quantities of copper, gold, molybdenum and silver. The tonnes and average metal grades are included in the 2021 Mineral Resource Estimate (MRE) update. Click here for MRE

The 2021 Preliminary Economic Assessment (PEA) yielded an after-tax NPV 8% of US$842M, an IRR of 12.9%, producing 5.0Blb of Cu, 3.7Moz of Au, 226.0Mlb of Mo and 16.4Moz of Ag over a 21 year mine life utilizing approximately 60% of the resource base. Metal prices used in the 2021 PEA were US$3.25/lb Cu, US$1,500/oz Au, US$10/lb Mo and US$20/oz Ag. Click here for PEA

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

2026 Program

The planned 2026 program at Schaft Creek is focused on addressing key aspects required in transitioning the project to the Prefeasibility Study (PFS) stage.

Highlights of the 2026 program:

• Planned expenditures in 2026 of $9.1-million;
• Addresses key aspects of the scoping study review, including a technical review of the geological model, metallurgical testwork, tailings and mine plan options analysis, and access road trade-off studies;
• Preparation for PFS;
• Limited camp maintenance and environmental sampling field program;
• BC Hydro system impact study.