TWIN METALS MINNESOTA PROJECT

Twin Metals Minnesota is a wholly-owned copper, nickel and platinum group metals (PGM) underground mining project which holds the Maturi, Maturi Southwest, Birch Lake and Spruce Road copper-nickel- PGM deposits in north-eastern Minnesota, US. In 2018 an update of the pre-feasibility study was completed on an 18,000 tonnes of ore per day project producing an average of 42,000 tonnes of copper per year plus nickel and PGM as by-products, the equivalent of some 65,000 tonnes of copper per annum.

In 2017 the Group commenced preparation of the Mine Plan of Operations (MPO), a prerequisite for permitting applications, and expects to complete it in 2019. Following a thorough review, it will be ready to be submitted to the relevant Federal and State agencies. While the MPO is being reviewed the Company will advance the feasibility study.

After reaffirming Twin Metal’s right to renew its two federal mineral leases, the Department of Interior reinstated the leases to TMM in May 2018 and they are expected to be renewed during 2019. In October 2018, the US Forest Service announced its decision to rescind its proposal to withdraw federal land from the Superior National Forest.

Twin Metals Website