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The 2013 Feasibility Study on the Schaft Creek project outlined approximately 940 million tonnes of Proven and Probable Reserves grading 0.27% copper, 0.19g/t gold, 0.018% molybdenum and 1.72g/t silver that would be exploited over a 21-year mine life. The Reader is cautioned that the information, assumptions and projections on which the 2013 Feasibility Study is based on has changed over the past four years. The Schaft Creek Joint Venture is currently working on re-modeling the resource model for the Schaft Creek project. In the event that the remodeling work results in a material change in the resources categories and average metal grades, then the Reader is cautioned that the results of the 2013 Feasibility Study may not be achieved and cannot be relied upon.

The Technical Reports on the Van Dyke and Schaft Creek projects confirm that these projects have positive net present value ("NPV") and internal rate of return ("IRR") on both a pre-tax and post-tax basis. The Reader is cautioned that the Schaft Creek Joint Venture is in the process of updating the resource model for the Schaft Creek deposit that includes all information collected at Schaft Creek over the past four years. The information, assumptions and projections of the 2013 Technical Report on the Schaft Creek project has changed, some significantly over the past four years. The conclusions and economic analysis presented in the 2013 Technical Report may not be achieved.

Since 2013, Teck Resources Limited as operator of the Schaft Creek Joint Venture has completed reviews of a number of the major components of the 2013 Schaft Creek Feasibility Study. In 2017 the Schaft Creek Joint Venture approved a program to complete a re-model of the resources in the Schaft Creek deposit. The 2017 re-modeling work is the culmination of four years of work on the Schaft Creek deposit since the formation of the Schaft Creek Joint Venture. The re-model of the Schaft Creek resource provides the Schaft Creek Joint Venture the opportunity to update the input parameters required to assess the economic viability of the Schaft Creek project.

Since the date of the 2013 Schaft Creek Feasibility Study, a significant number of the input parameters of the 2013 Schaft Creek Feasibility Study have changed significantly. Some of these changes could have a significant effect on the results and conclusions of the 2013 Schaft Creek Feasibility Study. The Reader is cautioned that the results of the 2013 Schaft Creek Feasibility Study may not be achieved.