Current Exploration

Idaho Copper is planning a diamond drill program of up to 33 holes with lengths from 500 to over 2000 feet. The new holes are designed to complete drilling within the current 2019 pit design, examine the western extension of the deposit and obtain the geochemical and geotechnical data required for use in prefeasibility and feasibility level open pit modeling and planning. In addition, the program should expand the identified resource and convert additional inferred mineral resources to indicated and measured.

Environmental base line studies are continuing, and feasibility level metallurgical test work will commence during 2020.

Finally, final engineering site selection and design will commence.

Preliminary pit designs have been completed and are being used to ensure the optimum location for the exploration drilling.

The development plan for the CuMo Project includes completion of detailed metallurgical work, including detailed analysis of fine (less than 5 inch) sorting versus the current 10-foot based sorting to advance the project towards pre-feasibility expected during 2020.

Prior Exploration

Since 2004, MultiMet has increased the footage drilled to 121,700 feet (37,094 meters) in 68 holes from just 36,026 feet (10,980.7 meters) in 22 holes. Additionally, the Company completed three resource calculations, two Preliminary Economic Analyses and a metallurgical test program.

The 2006-2015 exploration programs consisted of surface geological mapping, diamond drilling, environmental base line studies, metallurgical testing, and resource generation.

Drilling has defined four mineralized zones (Oxide, CuAg, CuMo, and Mo) on the property; each with different metal distributions and recoveries.

1) Oxide Zone:

• Near surface zone that is oxidized usually comprise the oxidized parts of the CuAg and CUMO zones.
• Varies in thickness up to 200 feet and averages approx. 150 feet thick.
• Currently considered as waste.Average Grade from intersections:
  0.015% MoS₂, 0.05% Cu, 1.94 gms Ag/T, 24 ppm W, 0.16 % Rcv Cu Equiv.

2) CuAg Zone:

• Copper-silver zone with very low molybdenum mineralization.
• It occurs in the outer edge of the mineralization system.
• Locally very high grade (>100 gms Ag/ton veins are found within this zone).
• Zone ranges between 250 and 400 feet in thickness.Average Grade from intersections:
  0.017% MoS₂, 0.09% Cu, 3.01 gms Ag/T, 29 ppm W, 0.23 % Rcv Cu Equiv.

3) CuMo Zone:

• Copper molybdenum zone is a transition from the copper dominant part of the system to the molybdenum dominant.
• It ranges in thickness from 300 to 700 feet.Average Grade from intersections:
  0.049% Mos₂, 0.10% Cu, 3.03 gms Ag/T, 45 ppm W, 0.51 % Rcv Cu Equiv.

4) Mo Zone:

• Main Molybdenum bearing stockwork zone.
• It ranges in thickness from 300 to 700 feet.Average Grade from intersections:
  0.106% Mos₂, 0.05% Cu, 1.7gms Ag/T, 19 ppm W, 0.95 % Rcv Cu Equiv.