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Taca Taca Copper-Gold-Molybdenum project, Salta Province, Argentina

Project:

Taca Taca Copper-Gold-Molybdenum project

Location:

Salta Province, Argentina

Ownership:

100% owned by First Quantum Minerals (TSX: FM)

Royalty:

0.42% NSR on copper-gold-molybdenum that covers substantially the entire mining plan of Taca Taca.

As of November 30, 2020, First Quantum reported the following reserves and resources at Taca Taca:

Taca Taca – Reserves (100% basis)

Category Tonnes (millions) Copper Grade (%) Contained Copper (000 t) Gold Grade (g/t) Gold (millions of ounces) Molybdenum Grade (%) Contained Molybdenum (000 t)
Proven 408.3 0.59 2,402 0.13 1.7 0.016 63
Probable 1,350.2 0.39 5,333 0.08 3.3 0.011 150
Proven + Probable 1,758.5 0.44 7,735 0.09 5.1 0.012 214
               
Taca Taca – Resources (100% basis)          
               
Category Tonnes (millions) Copper Grade (%) Contained Copper (000 t) Gold Grade (g/t) Gold (millions of ounces) Molybdenum Grade (%) Contained Molybdenum (000 t)
Measured 421.5 0.60 2,543 0.14 1.9 0.016 67
Indicated 1,781.8 0.39 6,908 0.07 4.2 0.011 198
Inferred 716.9 0.31 2,206 0.05 1.2 0.009 65

The NSR is subject to a buyback right based on the value of Proven Reserves based on a Feasibility Study delivered by a respected international consulting firm that is contracted by mutual consent of all parties, including royalty holders. The buyback amount will be equivalent to the amount of the Proven Reserves multiplied by the prevailing market prices of all applicable commodities within Taca Taca.