Reserves and Resources

Note: totals may not add up correctly due to rounding. There are no mineral resource estimates exclusive of mineral reserve estimates for 777.
¹ Metal prices of $1.32 per pound zinc (includes premium), $1,800 per ounce gold, $4.00 per pound copper, and $24.00 per ounce silver with an exchange rate of 1.27 C$/US$ were used to confirm the economic viability of the mineral reserve estimates.

Note: totals may not add up correctly due to rounding.
¹Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.
² Mineral resources do not include factors for mining recovery or dilution.
³ Blocks were classified as Proven or Probable in accordance with CIM Definition Standards 2014.
⁴ Mineral reserves were estimated using metal prices of $3.15 per pound copper, $11.00 per pound molybdenum and $18.00 per ounce silver. Metallurgical recoveries of 90% copper, 63% molybdenum and 75.5% silver were applied. No metallurgical recovery of molybdenum and silver from oxide ore is projected. An NSR cut-off value of $6.60 per tonne was assumed, based on process recoveries and total processing and general and administrative operating costs.
⁵ Mineral resources are constrained within a computer generated pit using the Lerchs-Grossman algorithm and were estimated based on the following long-term metals prices: $3.15 per pound of copper; $11.00 per pound of molybdenum; and $18.00 per ounce of silver. Metallurgical recoveries of 85% copper, 60% molybdenum and 75% silver were applied to sulfide material. Metallurgical recoveries of 40% copper, 30% molybdenum and 40% silver were applied to mixed material. A metallurgical recovery of 65% for copper was applied to oxide material. NSR was calculated for every model block and is an estimate of recovered economic value of copper, molybdenum, and silver combined. Cut-off grades were set in terms of NSR based on current estimates of process recoveries and total processing and general and administrative operating costs of $6.10 per tonne for oxide, mixed and sulfide material.

Note: totals may not add up correctly due to rounding.
¹CIM definitions were followed for the estimation of mineral resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
² Mineral resources are reported within an economic envelope defined by a pit shell optimization algorithm and assuming a selective mining unit of 50x50x50 feet. This pit shell is defined by a revenue factor of 1.0 assuming operating costs adjusted and updated from the 2017 Rosemont Feasibility Study.
³Mineral resource estimates were reported using a cut-off of 0.1% Cu and were separated by potential processing method into flotation and leach if they respectively had a CuSS/Cu ratio below or above a threshold of 50%.
⁴ Metal recovery estimates assume that this mineralization would be processed at a combination of facilities, including copper and molybdenum flotation and heap and/or run-of-mine leach pads followed by solvent extraction and electrowinning.
⁵ CuSS represents the copper grade in oxides.
⁶ Specific gravity measurements were estimated from core box weights validated by industry standard laboratory measurements.

¹As at December 1, 2021
² Mineral resource estimates in this Table 2 are defined by a revenue factor of 0.36. A lower revenue factor typically indicates the optimal mining sequence and highlights mineralization that has the potential to be mined earlier in the mine life in order to maximize the value of the operation.
³The higher grade mineral resources shown in Table 2 above are included in the global mineral resource estimate presented in Table 1.

Note: totals may not add up correctly due to rounding.
¹ Mineral resource estimates that are not mineral reserves do not have demonstrated economic viability.
² Mineral resource estimates do not include factors for mining recovery or dilution.
³ Metal prices of $3.10 per pound copper, $11.00 per pound molybdenum, $1,500 per ounce gold, and $18.00 per ounce silver were used to estimate mineral resources.
⁴ Mineral resources are estimated using a minimum NSR cut-off of $6.25 per tonne.
⁵ Mineral resources are based on resource pit designs containing measured, indicated, and inferred mineral resources.