Slide 1

Majuba Hill

Copper Porphyry

Copper Production

in Nevada:

Now and in the Future

E.L. “Buster” Hunsaker IIIhunsakerinc@frontiernet.net

775-934-7484

October 2016

Majuba Hill Copper Porphyry, in northwest Nevada.

Slide 2

2

Majuba Hill Project Introduction

Majuba Hill was first staked in 1907 and from that time until the 1950’s high-grade underground mines produced 2.8 million pounds of copper, 184,000 ounces of silver, 885,000 pounds of lead, 106,000 pounds of zinc and 21,000 pounds of tin. Copper and tin came exclusively from the Majuba Mine and copper grades averaged from 4% to 12%. Beginning in early 1970 Majuba was recognized as a porphyry system and since then exploration work including over 38,000 feet of core and RC drilling has outlined a copper porphyry, with silver and gold, that has the potential to reach 500 million tons. The first holes intersected up to 980 feet averaging 0.14% Cu with zones of greater than 400 feet averaging 0.24% Cu. Finally, in 2013 distinct chalcopyrite stockwork sulfide mineralization was intersected and returned 385 ft @ 0.43% Cu and 12 g/t silver. The hole was directed in the opposite direction from most of the previous drilling. These results distinctly point to the potential for Majuba Hill to be a significant copper porphyry mine. The historic high-grade copper production at Majuba came almost exclusively from the patented mining claims where the oxidized portion of the copper porphyry outcrops. During the 38 years of modern porphyry exploration a zone of outcropping oxide copper with significant silver was delineated. Some of the recent drilling intersected oxide copper beginning at the surface with intervals such as 155 ft @ 1.06% Cu from 0 to 155 feet and 162.6 ft @ 0.31% Cu from 2.4 to165 feet. Detailed modeling and compilation of the all the drilling in and around the historic workings developed a 4 million ton heap leachable orebody averaging 0.43% copper with 0.55 opt (18.8g/t) silver that can make a profitable mine on private ground. I have recently been asked, “Why would we be pushing forward with a copper project in this market-price climate?” The simple answer is that the oxide part of the copper and silver porphyry mineralization is outcropping on private ground. With this presentation I want to summarize the project-plan that can be made into a small mine producing a profitable income within 3 to 5 years.

Slide 3

Why Majuba Hill

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Income Potential Mineable oxide copper deposit (with silver) from open pit 35 million pounds copper (2.2 million ounces silver)

Simple Permitting Oxide copper deposit (with silver) on patented claims Processing facility on adjacent private fee land

Project Pipeline Good expansion potential of oxide deposit Long term production from Copper Porphyry

So, Why Majuba Hill? In the next several slides I want to show the income potential of the outcropping oxide mineralization at Majuba Hill. Using all of the drilling I created a block model which delineated 4 million tons averaging 0.43% copper and 0.55 opt silver that contains 34.6 million pounds of oxide copper and 2.2 million ounces of silver. This resource was defined using 10x10x10m blocks and a 1/d2 incorporation of the individual assays. Based on my experience it meets the CIM definition of an “indicated resource”. The private lands we own creates a simple permitting scenario for the small mine plan. Majuba also has a good pipeline of mineralized material with near term expansion potential of the oxide and the long term potential for copper, silver and gold production from the overall porphyry.

Slide 4

Majuba Hill Project Highlights

4

Majuba Hill Location 156 road miles north of Reno 20 miles from I-80 & railroad Good County road access

Majuba Hill LLC- 100%

Near term production Oxide copper (with silver) Data supports NI43-101

Long term Potential Cu, Ag, Au porphyry 500 million ton potential

This slide of Nevada has active and recently active mines shown by the small stars. Majuba is located between Reno and Winnemucca. About 150 miles north of Reno. It is only 20 miles west of interstate 80 and the transcontinental rail line and access is good on well-maintained county roads. One of the key project highlights which got us to this point during the past 10 years is that we control all of the mineral rights for Majuba Hill. This is the first time one group has owned all of it. On the next slide we will zoom into the project area.

Slide 5

Majuba Hill-Location

5

Majuba Hill LLC-100% ownership

3 patented lode mining claims

45 unpatented lode mining claims

656 acres of private surface and mineral rights

Majuba Hill Project

Scale Bar = 1 Mile

Using this Google earth image I have outlined the project boundary in black. To give you an idea of the scale the heavy black bar beneath the words Majuba Hill Project is one mile long. Majuba Hill LLC owns 3 patented lode mining claims, section 35 which covers slightly more than one square mile of private fee surface and the underlying fee mineral ground and the surrounding unpatented lode mining claims.

Slide 6

Majuba Hill-Geology, Small pit, IP

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Large, porphyry-style intrusive footprint

Outcropping oxide copper (silver) resource - Mineable in Small pit

The general geologic setting at Majuba Hill is a large Tertiary-age intrusive (light red/salmon color) into Triassic-metasediments (greens) and Tertiary to Cretaceous-age granitic rocks (patterned pink color). The drilling, geology, alteration, geochemistry, and IP chargeability high has been combined to identify the 500 million ton potential. Within the area of the patented claims I show the outline of the small pit proposed for initial production of the oxide copper and silver. Next we will look even closer by zooming into the patented claim area.

Slide 7

Majuba Hill – Small Pit Area

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Footprint of Open Pit Mine for oxide resource• 23 recent and 16 historic drill holes in resource model

The base for this map is from public domain aerial imagery. Again you can see the outline of the pit and the collar locations and surface traces of the drill holes. If you looked closely at this map you can see the dump at the portal to the middle adit. This is where most of the historic production came from. It is still accessible. On the next slide we will see a cross section of the ore body looking towards the northeast.

Slide 8

Majuba Hill - Pit Area Cross Section

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Concept pit contains 4.0 millions tons mineralization @ 0.43% copper (18.8 ppm (0.55 opt) Ag)

8.5 million tons waste

Drilling includes MM-06:155 ft @ 1.06% Cu from 0 to 155 feet

MM-05:162.6 ft @ 0.31% Cu from 2.4 to165 feet

MM-03:133.1 ft @ 0.39% Cu from 216.9 to 350.0 feet

This section is looking northeast. Almost all of the rocks are various phases of the Tertiary-age intrusive shown earlier. A small block of Triassic-age metasediments are here. The concept pit is outlined by the heavy black line and the oxide copper-silver ore body is shown in red. If you look closely you can see the some of the drill holes with copper assays that make up the ore body. The overall pit has 4 million tons of ore and 8.5 million tons of waste; giving a strip ratio of 2:1. Intercepts from several of the recent angled and vertical core holes show the good grades which are driving this orebody. On the next slide I have a few pictures that were taken before the holes were split and sampled. This gives you an idea of what the ore looks like.

Slide 9

Majuba Hill Project – Core Photos

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MM-06: 90-95 ft @ 3.0% Cu & 254.3 ppm Ag

MM-03: 216.9-260 ft @ 0.44% Cu & 25.5 ppm Ag

MM-05: 45-50 ft @ 0.68% Cu & 58.6 ppm Ag

The good oxide grades occur with the typical blues and greens that you would expect but you can also see that all three holes have strongly iron oxidized intervals of brown to orange with high copper and silver values. Some of the black mineral, especially in the blue to green zones, is chalcocite.

Slide 10

Majuba Hill - Pit Expansion Potential

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Copper

Cut-off Grade

(Cu%)

Modeled-drilled

Mineralization

(tons)

Copper

Average Grade

(Cu%)

Copper Contained

(pounds)

Silver

Average Grade

(ppm)

Silver Contained

(ounces)

0.10 4,021,163 0.43 34,633,154 18.8 2,204,920

0.05 7,300,719 0.27 39,014,749 12.8 2,725,579

0.00 12,353,070 0.17 66,014,314 8.9 3,206,624

This is the same section we looked at previously but on this slide I want to point out the potential for expansion of the oxide ore body. The oxide ore body based on the 0.1% cut-off grade is again in red. Using lower cut-off grades the tonnage increases and the grade decreases in the modeling. However, looking at the drill density and considering the block modeling process, it is clear that the lower grades for the larger volumes are a function of no drill data. As well shown on this section the gap with no modeled mineralization is only a function of no drill holes. In fact along this ridge slightly to the northeast of this cross section there are good rock ship samples and some underground samples with over 0.5% copper and at least 0.5 opt silver. So, drilling in these open areas will likely add significant grade and tons.

Slide 11

Majuba Hill - Pit Model Summary & Price Sensitivity

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Pit Model SummaryAssumes cut-off grade of 0.10% Cu with 81% copper recovered & 20% silver recovered

Profit Sensitivity to Copper with silverAssumes Capital Expense = $20 million & Bonding = $4 million

Resource

(tons)

Average

Grade

(Cu%)

Copper

Contained

(pounds)

Copper

Recovered

(pounds)

Average Grade

(Ag ppm)

Silver

Contained

(ounces)

Silver

Recovered

(ounces)

4,021,163 0.43 34,633,154 28,052,855 18.8 2,204,920 440,984

Copper Price $2.20 $2.40 $2.60 $2.80Silver Price $17.00 $17.00 $17.00 $17.00

Income (copper produced) $61,716,281 $67,326,852 $72,937,423 $78,547,994

Income (silver produced) $7,496,726 $7,496,726 $7,496,726 $7,496,726

Expense (Mining+Process+G&A ) ($33,800,818) ($33,800,818) ($33,800,818) ($33,800,818)

Net Profit (Revenue-Expense-Capital-Bond) $11,391,026 $17,001,597 $22,612,168 $28,222,739NPV @ 5% Hurdle $9,331,836 $14,450,476 $19,569,117 $24,687,757

Internal Rate of Return 60.3% 111.6% 194.6% 349.1%

Copper Price $2.20 $2.40 $2.60 $2.80Silver Price $17.00 $17.00 $17.00 $17.00

Income (copper produced) $61,716,281 $67,326,852 $72,937,423 $78,547,994

Income (silver produced) $0 $0 $0 $0

Expense (Mining+Process+G&A ) ($33,800,818) ($33,800,818) ($33,800,818) ($33,800,818)

Net Profit (Revenue-Expense-Capital-Bond) $3,894,299 $9,504,870 $15,115,441 $20,726,012NPV @ 5% Hurdle $2,492,417 $7,611,057 $12,729,698 $17,848,338

Internal Rate of Return 16.7% 47.3% 91.8% 161.6%

Profit Sensitivity to Copper no silverAssumes Capital Expense = $20 million & Bonding = $4 million

Here are some summary details for the pit block modeling of the oxide ore body. The pit and ore body shown on the previous maps and cross section were built using a 0.1% copper cut-off grade and 81% copper recovery. The copper recovery numbers are based on two rounds of early-stage metallurgy done in 2008 and 2013. Silver recovery of 20% is an assumed number pending further metallurgical work. The cut-off grade is based on a series of grade vs tonnage calculations using the estimated mining costs and various copper prices. The 0.1% cut-off provided the optimum return. The profit sensitivity shows the profit variation with the changing copper price. The mining costs, capital expense of $20 million and the bonding cost of $4 million is based on recent comparable similar projects and published case scenarios. Direct mining costs, consisting of ore and waste mining, processing, and G&A are $6.75 per ton. At $2.20 copper the 4 million ton @ 0.43% copper orebody makes money and has a positive internal rate of return. With $2.40 copper it has stronger returns and from there it gets even better. If the metallurgical work gives any silver recovery at all then the profits improve even quicker.

Slide 12

Majuba Hill - Summary

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FutureLarge Copper Porphyry plus silver and gold

200 million to 500 million ton potential

Near TermProduction Income from Oxide resource

35 million pounds copper

(2.2 million ounces silver)

In summary Majuba Hill is a project with good profit potential in the next 3 to 5 years. Producing the 34.6 million pounds of copper will make a profit and any expansion of the orebody with in-fill drilling will improve the Net Profit. And if there is any silver recovery that improves the picture even more. This profit and cash flow provides a solid path to exploring the 500 million ton potential of the porphyry and developing a large mine that can operate long into the future.

Slide 13

Majuba Hill LLC

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E.L. “Buster” Hunsaker IIIhunsakerinc@frontiernet.net 775-934-7484

Molly M. Hunsakermollymhunsaker@aol.com 775-340-0289

Thank you for your time.