Investor Information

Patented mining claims are property for which the Federal Government has passed its title to the claim owner, giving the claim owner exclusive title to the locatable minerals and to the surface and all resources. Unpatented mining claims are claims on public land and administered by the US Bureau of Land Management (BLM) or the US Forest Service (USFS), upon which the claim owner owns mineral rights, but no surface rights. Patented mining claims are subject to federal permitting requirements, whereas unpatented mining claims are subject to state permitting requirements.

The Company filed an initial Plan of Operations in June 2021. That plan is continuing to be updated as engineering is refined. While there is no statutory timeframe for approval of the Plan of Operations, it appears that few, if any, negative impacts from future operations will exist. This is anticipated to reduce the permitting timeframe. However, it takes as long as it takes. We enjoy the benefit of independent authorities and a secure legal framework in Idaho. We respect that.

Phoenix Copper is currently working on feasibility engineering and permitting of the Empire open pit mine. In addition, we are working to make improvements to the operating plan that will improve both the economics and the environmental credentials of the Empire Mine. We are actively considering ways of accelerating the production of a whole suite of metals from the site and improving the long-term economics of the project. The Company is positioning itself to commence construction of the mine and processing facility, immediately followed by initial production, as soon as the Record of Decision, which is the operating plan approved by the agency that allows the Company to commence operations, is received. Construction is estimated to take 8-10 months given favorable weather conditions.

No. The Company is planning to produce copper using sulfuric acid leaching technology and extract and produce gold and silver using non-toxic ammonium thiosulfate (ATS) leaching technology. Metallurgical testing completed to date for copper, gold and silver extraction has been favorable.

Phoenix is planning to produce copper by leaching with a dilute sulfuric acid solution.

The Phoenix team is currently conducting trade-off engineering studies to develop a plan for constructing an aerial ropeway to tram ore at the Empire Mine. The aerial ropeway uses gravity to move ore and would generate more electricity than it consumes, eliminating the need for diesel powered haul trucks from the pit to the processing facility, and reducing our operating costs and reducing our carbon footprint.

Konnex Resources, Borah Resources, and Salmon Canyon Resources are all Idaho registered subsidiaries of Phoenix Copper Limited. All subsidiaries embrace the same vision and values as Phoenix Copper Limited.

Konnex Resources:

Konnex Resources is the Idaho registered operating company for the Empire Mine project and is 80% owned by Phoenix Copper.

Borah Resources:

Borah Resources is 100% owned by Phoenix Copper and holds Redcastle, one of the Company's two cobalt exploration properties. Redcastle is located on the eastern boundary of Electra Battery Materials' Iron Creek property in Lemhi County, Idaho. In 2021, Phoenix Copper entered into an earn-in agreement with Electra on the Redcastle property.

Salmon Canyon Resources:

The Company's second cobalt property, Bighorn, is located approximately 25 miles north of Redcastle. This property is held by Phoenix's 100% owned and Idaho registered Salmon Canyon Resources.

ExGen Resources Inc. owns 20% of Konnex Resources and holds a 2.5% net smelter royalty on future Empire Mine production. Phoenix and ExGen are both required to contribute their share of pre-production capex per the feasibility study. If either party does not contribute its share, that party will dilute its ownership in Konnex in accordance with an agreed formula.

Phoenix Copper recognizes that people living near the Empire Mine should have their interests represented as the project advances. KCATs creation was facilitated by Konnex and Phoenix employees in Custer County, Idaho to create an enduring model of partnership, transparency, and accountability between the Company and the local community. KCAT is comprised of three representatives from Konnex Resources and Phoenix Copper, plus 10 independent residents of Custer and Butte Counties. The members will use their diverse experiences to act as an advisory board for Konnex, facilitate communication between Konnex and the local communities, identify ways for the Company to best benefit the community, and more.

Phoenix Copper is focused on bringing the Empire open pit mine into production in Idaho, USA. In addition, we are conducting exploration on our other claims surrounding the Empire Mine and on the Idaho Cobalt belt.