ARTICLE: Peru opens its arms to international, national private investment (here)

CEO Interview - CAMBRIDGE HOUSE August 15, 2021

CEO Interview - AGORACOM July 29, 2021

Peru is 2nd largest copper producer in the world; Canada among top ten worldwide producers of several metals

PROJECTS

Cañariaco Norte

• Large Copper Gold Silver Resource defined in 2010
• Positive Pre-feasibility Study Progress Report completed in 2011
• Updated ESG Project Concept Desk Top Study completed Q2 2021
• New PEA Launched Q3 2021 = Improved ESGs with lower CapEx and OpEx
• Earlier Stage Projects with Exploration potential

3RD PARTY VALIDATION

Major Investor: Fortescue Metals Group holds 19.9% of Candente

Deutsche Bank: Cañariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap

Goldman Sachs: Cañariaco Norte identified as one of the top 84 copper projects worldwide

Cañariaco Norte Pre-Feasibility Study Progress Report Highlights:

• 260M lbs Cu per year (39,000 oz Au per year & 911,000 oz Ag per year)
• 22 Year Initial Mine Life @ 95,000 tonnes per day
• 4.4 Year Payback Period @ Cu $2.50/lb
• Preproduction CAPEX $1.56B
• Operating costs of US$0.988/lb Cu
• Minimal infrastructure required, excellent locations for all site facilities, close to existing highway and power grid and abundant water at site

CAÑARIACO NORTE AUSENCO PEA - TO BE COMPLETED Q4 2021

• Improve Environmental, Social and Governance (“ESG”) practices
• Reduce initial capital expenditures (“CapEx”) and operating expenses (“OpEx”)
• Smaller initial throughput for a lower initial CapEx
• Expand after payback using Mine Cash Flow
• Improve Mine Design including Tailings storage methods to improve ESG practices