Joyce Fact Sheet

Project Key Facts

2.5 Mt per annum open pit iron ore project
Prolific jurisdiction with rail & port infrastructure available
7 years of operation to capture upcycle of market recovery
Feasibility Study completed in 2022, with pre-tax NPV(8%) of C$357.2M at US$124.95/t Fe base case
Provincial and Federal Environmental Assessment in progress

Project Economics Summary

Project Economics – Iron Ore Price (62% Fe China)
US$/t	$124.95¹	$137.45¹	$149.94¹	$162.44¹	$187.43¹	$224.91²
	Base case	110% of Base	120% of Base	130% of Base	150% of Base	180% of Base
Pre-tax NPV_(8%)	C$357.2M	C$508.5M	C$683.6M	C$857.4M	C$1,206.3M	C$1,730.3M
Post-tax NPV_(8%)	C$184.6M	C$275.5M	C$380.1M	C$484.9M	C$691.8M	C$1,002.1M
Pre-tax/Post-tax IRR	27.72% / 20.01%	35.08% / 25.56%	42.96% / 31.64%	50.31% / 37.43%	63.95% / 47.97%	82.44% / 62.38%
Pre-/Post-tax Payback (yrs)	3.21 / 3.69	2.74 / 2.95	2.24 / 2.49	2.04 / 2.23	1.64 / 1.71	1.27 / 1.38
NI 43-101 Feasibility Study (2022)

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 (May 6, 2022)¹
Cut-off 50% Fe²	Tonnes³	% Fe	% SiO₂	% Al₂O₃	% Mn
Measured (“M”)	18,530,000	58.71	12.97	0.55	0.81
Indicated (“I”)	5,440,000	58.35	14.09	0.51	0.53
M+I	23,970,000	58.63	13.22	0.54	0.75
Inferred	830,000	62.10	8.30	0.43	0.78
Mineral Reserves (May 6, 2022)⁴
Category	Tonnes	% Fe	% SiO₂	% Al₂O₃	% Mn
High Grade Proven (Above 55% Fe)	11,320,000	61.65	8.72	0.55	0.84
Low Grade Proven (52% – 55% Fe)	2,840,000	53.49	20.42	0.62	0.69
High Grade Probable (Above 55% Fe)	2,490,000	61.51	9.46	0.50	0.61
Low Grade Probable (52% – 55% Fe)	720,000	53.27	21.68	0.59	0.29
Total Reserve (Above 52% Fe)	17,370,000	59.94	11.28	0.55	0.76
Mineral resources are not mineral reserves and do not have demonstrated economic viability. Within mineralized envelope and optimized pit shell, % Fe cut-off on individual blocks. Variable 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

	Century Announces Feasibility Results for the Joyce Lake DSO Project \| Peter Jones (opens in a new window)
	The Key Parameters of Joyce Lake \| Peter Jones (opens in a new window)
	CEO Sandy says innovative transport strategy improves fundamentals for Joyce Lake (opens in a new window)
	All you need to know about Joyce Lake by Chairman Peter Jones (opens in a new window)