Carmacks

Carmacks is located 200 kilometers north of Whitehorse near the Village of Carmacks in the Yukon Territory, Canada. The site is located close to an all-weather road and infrastructure including a proposed hydro-electric power line that is currently being permitted by Yukon Energy

Total combined proven and probable oxide reserves are estimated at 10.6 M tonnes with a grade of 1.044% total copper. The operating environment allows for open pit mining and processing 1.76 M tonnes of ore per year.

The proposed development plan is for an open pit mine with an acid heap leach followed by solvent extraction and electrowinning. Recovery envisaged by the feasibility study is year-round with production of approx. 33.8 M lb per year of pure copper cathode.

A development plan proposes construction to start in early 2008 with pre-stripping of the mine commencing concurrently. Production of copper is targeted for the fourth quarter of 2009.

The current reserve estimate would sustain mine production for 6 years. Following this, rinsing of the heap would commence with further recovery of copper before neutralization and reclamation of the heap is completed.