Joyce Fact Sheet - Century Global Commodities Corporation

Project Key Facts

2.5 Mt per annum open pit iron ore project
Prolific jurisdiction with rail & port infrastructure available
5-7 years of operation to capture upcycle of market recovery
2015 Feasibility Study Complete, with pre-tax NPV(8%) of C$130.8M at US$95/t Fe base case
At US$142.50/t Fe, pre-tax NPV(8%) improves to C$888.8M
Environmental study ready

Project Economics Summary

Project Economics – Iron Ore Price (62% Fe China)
US$/t	$95¹	$101.37¹	$108.95¹	$125¹	$142.50¹	$167.83²
	Base case	2019-20 Avg	2020 Avg.		150% of Base	Jan 2021 Avg.
Pre-tax NPV_(8%)	C$130.8M	C$232.4M	C$353.4M	C$609.5M	C$888.8M	C$1,293.0M
Post-tax NPV_(8%)	C$61.4M	C$125.6M	C$193.4M	C$335.2M	C$524.2M	C$766.2M
Pre-tax/Post-tax IRR	18.7% / 13.7%	26.6% / 19.6%	35.6% / 25.9%	54.1% / 40.3%	73.7% / 55.0%	101.8% / 75.2%
Pre-/Post-tax Payback (yrs)	4.4 / 4.9	3.6 / 4.1	2.9 / 3.4	2.0 / 2.2	1.5 / 1.7	1.1 / 1.2
NI 43-101 Feasibility Study (2015) Extrapolation of sensitivity analysis of Feasibility

Project Mineral Resources and Reserves

The mineral resources and mineral reserves are reported in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards for Mineral Resources, Mineral Reserves and their Guidelines, and are compliant with NI 43-101.

NI 43-101 Mineral Resource Estimate (Apr 17, 2014)¹
Cut-off 50% Fe²	Tonnes³	% Fe	% SiO₂	% Al₂O₃	% Mn
Measured (“M”)	18,650,000	58.67	13.02	0.55	0.81
Indicated (“I”)	5,640,000	58.14	14.39	0.51	0.54
M+I	24,290,000	58.55	13.34	0.54	0.75
Inferred	840,000	62.00	8.43	0.43	0.78
Mineral Reserves ( Apr 14, 2015)⁴
Category	Tonnes	% Fe	% SiO₂	% Al₂O₃	% Mn
High Grade Proven (Above 55% Fe)	11,630,000	61.35	9.16	0.54	0.84
Low Grade Proven (52% – 55% Fe)	2,890,000	53.31	20.70	0.60	0.70
High Grade Probable (Above 55% Fe)	2,450,000	61.50	9.48	0.50	0.61
Low Grade Probable (52% – 55% Fe)	750,000	53.09	21.90	0.59	0.30
Total Reserve (Above 52% Fe)	17,720,000	59.71	11.62	0.55	0.76
Mineral resources are not mineral reserves and do not have demonstrated economic viability. Within Mineralized envelope, % Fe cut-off on individual blocks. The base case for public disclosure DSO is the statement with cut-off of 50% Fe. Variable SG density (equation derived from core measurements), tonnes rounded to nearest 10,000. The mineral reserves estimate for Joyce Lake DSO Project was estimated during the FS. The mineral reserve is the economically mineable part of a measured or indicated mineral resource.

Project Video – Quick Facts

Click here to watch a quick-fact video on the Joyce DSO project video by CEO Sandy Chim.
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Project Key Facts

Project Economics Summary

Project Mineral Resources and Reserves

Project Video – Quick Facts

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