Carmen Copper Corporation

The Carmen Copper Mine An Emerging Concentrate Producer

1 September 2010

2

No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information and opinions expressed in the course of this presentation. No responsibility is accepted by Atlas Consolidated Mining and Development Corporation or any of its subsidiaries (“Atlas Mining”) or any of their representatives, officers, employees, agents or advisors for any of the information or for any action taken by you on the basis of the information or opinions expressed in the course of this presentation. In particular, this document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of Atlas Mining, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and Atlas Mining’s future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by Atlas Mining, or indicated by any such forward looking statements, will be achieved.

Geological Resource estimates relate to the original the Feasibility Study estimate which is both JORC & PMRC compliant and which was defined at a grade of 0.3% copper. This database of information was used to estimate the geological resource at a lower copper grade of 0.2% copper. Mining reserves need to be treated with caution as all the mine planes are currently being reviewed with respect to the best method of extracting the ore, waste tailings placement and waste rock placement.

This document does not constitute an offer or invitation to acquire shares in any jurisdiction. These materials are not for distribution, directly or indirectly, in or into the United States. They are not an offer of securities for sales into the United States. The shares may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the US Securities Act of 1933) unless they are registered or exempt from registration. There will be no public offer of shares in the United States.

Important Notice and Disclaimer

3

Atlas Consolidated Mining & Development Corp.

Carmen Copper Corporation is majority owned by

Atlas Consolidated Mining & Development Corp…

CASOP = Crescent Asian Special Opportunities Portfolio

Copper

Nickel

Water

Carmen Copper Atlas – 55.5% Casop – 45.5%

Berong Nickel Atlas - 25.2% Ulugan Nickel Atlas - 42.0%

AQUAtlas Atlas - 100%

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Top 20 Asian Copper Producers

Carmen is the largest copper producer in

the Philippines, and in the top 10 in Asia…

Average annual Cu Production

50kt pa

553

4

Copper Supply & Demand Dynamics

5

Current copper growth is centered on

China…

Source: Bhpbilliton preentation, Sept 2009

China +9%

China

USA

Germany Korea

6

China’s urban population is expected to

reach 1 billion people by 2025…

Source: Bhpbilliton, May 2010 7

Demand for copper and other metals is

likely to double over the next 15 to 20 Yrs

Source: Rio Tinto presentations

Today

Copper

8

62 5444

3641

47

2000 2010 2020

Low Risk

Medium Risk

High Risk

60

15

30

10

85

1980s 1990s 2000s

Exposed

Covered

Blind 1.3

1.4

1.1

1980s 1990s 2000s

% Cu

95

133

Open Pit Underground

US c/lb Cu

Copper supply constraints are growing…

Greater Depth Lower Grades Higher Costs Higher Sov. Risk

C1 Industry Costs Indicative depth of discoveries

Average grade of ore mined

Location of copper supply

Source: Rio Tinto presentations 9

The global shortage of copper concentrate

is expected to continue…

Balanced

Shortfall = lower TCs/RCs

Source: Bhpbilliton, 2009 10

Demand

Supply

Operations Update

11

Carmen Copper Mine is located on the

Island of Cebu, central Philippines…

12

The Carmen mine site is located approx.

16kms from the coastal city of Toledo…

CCC Leases

13

Toledo City

Open pit mining is by conventional

truck & shovel operation…

14

Ore Mined = 15.87Mt @ 0.31% Cu Waste Moved = 20.84Mt

14

Copper concentrate is produced by

traditional froth flotation methods…

Ball Mills@7

Drum Filters

Flotation Cells 15

Coarse Ore Stockpile

The Geological Resource is JORC compliant,

but based on a 0.3% Copper cut-off grade…

Tonnage Grade Metal

Reserves Mt % Cu Cu kt

Openpit: ``

South Lutopan OP 14.5 0.33 47.9

Noth Lutopan OP 21.4 0.32 68.5

South Carmen OP 9.1 0.31 28.2

Total Open Pit 45.0 0.32 144.5

Underground:

Carmen Lift 1 UG 132.0 0.40 528.0

Total Reserves 177.0 0.38 672.5

Feasibility Study ReservesMt Grade Contained

Resource % Cu Cu kt

Openpit: ``

Carmen OP 29.9 0.37 110.6

Lutopan OP 31.9 0.36 114.8

Biga OP 162.5 0.39 633.8

Total Open Pit 224.3 0.37 859.2

Underground:

Carmen UG 246.1 0.42 1,033.6

Lutopan UG 313.0 0.42 1,314.6

Biga UG 90.2 0.41 369.8

Total Underground 649.3 0.42 2,718.0

Total Reserves 873.6 0.41 3,577.3

Remaining Resource Base

Note 1: Excludes low grade dumps – 1.2 billion tonnes

Note 2: Geological boundary (envelope) @ 0.2% Cu & a Cut-off grade for resource @ 0.3% Cu

JORC Compliant Resource/Reserves Reserves are sufficient for a mine life of approx. 10-12 years Only ~25% of the total resource is being mined 16

253

484

345

726

276 289

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874

With higher Cu prices, all ore above 0.2% Cu grade is

economic, resulting in an increased resource tonnage

Cut-off-grade is dependent on forecast copper prices Opens up the potential for substantially more mineable ore & longer mine life

New JORC/PMRC compliant resource estimate is being currently prepared

kt Cu Metal Ore % Cu

3,577 0.41

4,837 0.32

0.3% Cu COG

0.2% Cu COG

Carmen

Lutopan

Biga

[COG = Cut-off-grade] 17 Note: Please refer to “Disclaimer” on Page 2 regarding Resource Estimates

The Carmen ore body can be readily mined

by either OP or UG mining methods…

UG Block Cave

18

Open Pit Mining

Stage 3 : 241 Mt Ore @ 0.33% Cu UG: 234 Mt Ore @ 0.36% Cu

Stage 3 : 217 Mt Ore @ 0.29% Cu

Incremental Summary: Stage 1: 57Mt @ 0.33 Cu 37Mt Waste [0.64:1] 150kt Cu Metal Stage 2: 49Mt @ 0.31% Cu 59Mt Waste [1.20:1] 101kt Cu Metal Stage 3: 111Mt @ 0.29% Cu 131Mt Waste [1.18:1] 226kt Cu Total 217 Mt Ore 227Mt Waste 477kt Cu Metal

Lutopan Pit will be mined until a decision is

made on the Carmen ore body…

19

Near Mine Site Upside

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Approx. 1.2 Bt of low grade dumps provide

the opportunity for Cu leaching…

21

Next Steps: 1. Further modeling 2. IP survey over anomalies 3. Define drill targets 4. Drill most prospective targets

22

Aeromagnetic surveys have identified high

potential targets for drill testing…

Actual Production Performance &

Forecasts

23

Mill throughput has steadily increased to

reach over 35,000 tpd ore processed…

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0.00

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Mill Throughput - Jan'09 to Jul'10

Daily Ore Milled [LHS] Mth Ore Milled t [LHS] Daily Head Grade %Cu [RHS]

0

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Payable metal production has increased

in line with mill throughput…

Payable Copper, M lbs Gold in Concentrate, oz

Payable copper varies with- copper head grades mill throughput mill recovery 25

0

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1,200

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Over 35,000t copper in concentrate

has been shipped to Asian customers…

Arsenic <0.003%

Lead <0.03%

Zinc <0.14%

Mercury <0.04ppm

Selenium <0.016%

Cadmium <0.2%

Antimony <0.02%

Clean Concentrate:

26

Tonnes: 122,794 DMT

Copper 28.54 % [35,043 t Cu]

Gold 2.83 g/t [11,155 oz Au]

Silver 26.02 g/t [102,750 oz Ag]

Total Shipments to Date = 25

Copper sales are forecast to exceed 60,000

tonnes in concentrate in 2014…

010203040506070

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27 Note 2: “a” = actual; “e” = estimate

23,843

Note 1: 2010 Jan-July Actual Payable Cu Produced = 13,794t

Gross sales revenue is forecast to exceed

US$400m in 2013…

Assumptions: Cu = US$7,050/t Au = US$1,100/oz Ag = US$18/oz Mag.= US$ 50/t

Note 1: All figures exclude Mark-to-Market adjustments Note 2: “a” = actual; “e” = estimate

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EBITDA is forecast to exceed US$250m in

2014…

Note 1: EBITDA = Earnings before Interest, Tax, Depreciation & Amortization Note 2: “a” = actual; “e” = estimate

-50

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73

Operating Costs are declining, and C1

industry costs fall to below US$0.50/lb Cu…

30

0.00

0.40

0.80

1.20

1.60

2.00

2.40

2.80

3.20

3.60

4.00

Jan

'10

Feb

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US$

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Cu

Operating Costs - US$/lb Cu - 2010Corp O'Head

Depreciation

Roy/Tax

Realization

Admin

Mine Serv

Processing

HE Maint

OP Mining

Power

C1 Costs

Cu Price

CCC is forecast to fall to around the 50th

percentile on the Industry Cost curve [C1]…

CCC

2010

12.7Mt Cu

CCC expected operating range

2010 2011

2012

31

Sustainable Development

32

Sustainable development is integral to our

operations & our license to operate…

Safety, health & environment is core to our business: Policies and standards are being developed Aim to achieve equivalent of international standards ISO 14001 and ISO 18001

Stakeholder engagement is continuous and on-going

Corporate social responsibility taken seriously through proper implementation of the following:

33

Social Development and Management Program Environmental Protection and Enhancement Program Safety and Health Program

Reforestation…

34

Nursery facilities…

35 Few of the forest tree species raised in the nursery and used primarily for mine revegetation

purposes (counter clockwise: auri, agoho, and acid ipil-ipil).

SILT MANAGEMENT

• To ensure that silts are not discharged to the river

systems, settling ponds and gabion dams are built in Sigpit River and Ilag River.

Sigpit Settling Pond Sigpit Gabion Dam

With its strong CSR program, CCC sees no obstacle in the road ahead. Siltation management…

Education…

37

Established in 1965 by Atlas Mining, the school is now a college with over a thousand students coming from the mine’s host communities. CCC employee dependents get 60% tuition fee subsidy.

Employment…

38

PERIOD DATE DIRECTLY EMPLOYED

Suspension Period 1994-2006 250

Rehabilitation Period 2007-2008 6,500

Operation July 2010 3,680

Livelihood projects…

39

SHOE-MAKING FURNITURE -MAKING

MANGO FRUIT-GROWING EMPLOYEES’ COOPERATIVE

Providing financial support to De La

Salle-Andres Soriano Memorial

College for trainers' honoraria last

May 23, 2009.

COMPUTER

LITERACY

AUTOMOTIVE

SKILLS

SEWING

SKILLS

WELDING

SKILLS

Technical skills training…

40

CONCRETE CULVERT AT SPILLWAY (TINAHAS AT CARMEN 3-TINAHAS-MAGDUGO ROAD )

Construction of Water Tanks & Wells

Rehabilitation of the Masaba Channel

SILT MANAGEMENT With its strong CSR program, CCC sees no obstacle in the road ahead. Community infrastructure…

With its strong CSR program, CCC sees no obstacle in the road ahead. Keeping the community stakeholders

informed …

Mayor Arlene Zambo Gov. Gwen Garcia

A booming economy at Brgy. Don Andres Soriano

Community acceptance of the mine project

is strong…