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Forward Looking Statements

Forward-Looking Statements: This document includes certain disclosure which constitutes "forward-looking information" within the meaning of Canadian securities legislation. Forward looking statements are often identified by words such as: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential, or will, would, may, could or should.

These forward-looking statements include statements regarding plans and intentions with respect to exploration and development of the Black Butte Copper Project, including timelines, anticipated results and benefits, the Company's operations and financial condition in future periods, anticipated completion of feasibility and other studies and their impact on project economics and scope, timing of approvals and permitting and other milestones. Estimates of mineral resources are also forward-looking statements in that they involve estimates of the mineralization that would be encountered, based on interpretation of drilling results and certain assumptions, if a deposit were developed and mined. Forward looking information relating to the Company's Black Butte Copper Project also includes the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period and net present values.

In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including those set out in the PEA, that the Company is able to obtain required government or other regulatory approvals and permits and required financing to complete the Company's planned activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis, that actual results of exploration activities are consistent with management's expectations, that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, that the assumptions underlying mineral resources estimates are valid and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur.

However, the forward looking statements are subject to numerous risks, uncertainties and other important factors that may cause actual results to differ materially from those expressed or implied in such forward-looking statements, including any of the assumptions and factors set out in the PEA proving to be invalid or varied, actual results of the Company's exploration and development activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests and the estimation of mineral resources, that the future price of copper will decline, the need for cooperation of government agencies, native groups and other stakeholders in the development of the Company's properties, risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title, risks of operations such as accidents, equipment breakdowns, inadequate insurance or inability to obtain insurance, bad weather, potential litigation, non-compliance with environmental and permit requirements, unanticipated variations in geological structures, grades or recovery rates, unexpected cost increases, fluctuations in metal prices and currency exchange rates, delays in obtaining or inability to obtain required government or other regulatory approvals or permits or required financing, and the inability to procure equipment and supplies in sufficient quantities and on a timely basis.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.