Copper-zinc exploration in the Flin Flon-Snow Lake VMS Belt

Recent Results Include 6.69% Copper Over 71.69 Metres and 3.74% Copper Over 21.77 Metres

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Message: Reed Copper Mine Cash Flows

The high grade nature of the Reed Copper deposit gives the project substantial leverage to copper prices. The following outlines VMS Ventures (30% share) of the copper price sensitivity to pretax Cash Flow (Based on PFS scenario).

Prices

Copper (USS/lb) $3.00 $3.30 $3.50 $4.00

Cash Flow $29,530,000 $44,278,000 $54,110,000 $78,691,000

Pre-tax

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