Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Liquidity risk due to low cash position.
• Market volatility affecting ability to secure financing.

Mitigation Strategies

• Company will depend on future financings from its majority shareholder and other parties to continue its operations.
• Company is monitoring market conditions and seeking financing alternatives.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Liquidity risk due to low cash position.
• Dependence on financing from majority shareholder and other parties to continue operations.
• Volatility in capital markets affecting ability to secure public financing and share price.

Mitigation Strategies

• Access to loan facility with borrowing capacity.
• Potential for increased loan amounts as needed.
• Monitoring investments and credit ratings of bank.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Net loss of $2,008,713 for the period ended September 30, 2013, and a working capital deficiency of $37,726,740 at September 30, 2013. Forecast cash requirements for the next twelve months exceed the undrawn amount available under the Company’s loan agreement.

Mitigation Strategies

• Continued support of shareholders and the ability to raise funds through the issuance of equity or debt will be required to continue and develop the Copper Flat project.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

Social Achievements

• The Company has engaged in community and government outreach since acquiring the property in order to foster a positive working relationship with the permitting agencies and generate support in the local community. The Company has received resolutions of support from several of communities in the vicinity of the mine.

Climate Goals & Targets

Environmental Challenges

• Securing water rights for the project.
• Obtaining necessary permits from Federal and State agencies (BLM EIS, water rights permit from NMOSE, Discharge Permit from NMED, New Mine Permit from NMMMD).
• Challenges from opponents of the project.
• Negative trends in metals prices.
• Liquidity risk due to low cash position and outstanding loan.
• Government regulation of mineral exploration and development.

Mitigation Strategies

• Engaged in community and government outreach.
• Negotiated a Water Lease for 3,000 acre-ft/yr.
• Filed for a court adjudication of water rights with NMOSE.
• Responding to technical comments from NMED and NMMMD.
• Preparing documents for other necessary permits (404 permit, MultiSector General Permit, dam permit).
• Monitoring copper prices.
• Seeking financing and development partnerships.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting and Regulatory Compliance
• Community Relations

Environmental Achievements

• Not disclosed

Social Achievements

• Fostered positive working relationships with local community members through various outreach initiatives; secured resolutions of support for Copper Flat from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Court ruling invalidating majority of water rights; need to secure sufficient water rights to operate the mine; securing Federal and State operating permits; challenges from project opponents.

Mitigation Strategies

• Appealed court decision; acquired a lease to release water into the Rio Grande; developed an extensive groundwater model; committed to providing water supply to any impaired well user; undertaking efforts to understand and address concerns of project opponents; actively engaging with regulatory agencies.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

Social Achievements

• The City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission passed resolutions of support for Copper Flat.

Climate Goals & Targets

Environmental Challenges

• Water rights adjudication resulted in significantly fewer water rights than required for the Copper Flat Project.
• Challenges from project opponents regarding water rights and operating permits.
• Negative trends in metals prices could impact financing.

Mitigation Strategies

• Filed an appeal of the water rights decision.
• Acquired a lease to release water into the Rio Grande to offset groundwater pumping.
• Acquired additional water rights through lease agreements.
• Reviewing mineral processing options to reduce water needs.
• Engaging with local communities through social media, public meetings, and site tours.
• Monitoring copper prices.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Social Achievements

• The City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission passed resolutions of support for Copper Flat.

Climate Goals & Targets

Environmental Challenges

• Water rights adjudication resulted in significantly less water rights than required for the Copper Flat Project.
• Challenges from project opponents regarding water rights and permits.
• Fluctuations in metal prices could impact project financing.

Mitigation Strategies

• Appealed the court decision regarding water rights.
• Acquired a lease to release water into the Rio Grande.
• Developing a Hydrogeologic Model to assess groundwater pumping effects.
• Actively engaging with local communities to address concerns.
• Monitoring copper prices and exploring alternative financing options.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting and Approvals
• Community Relations
• Environmental Protection

Environmental Achievements

• Received Nationwide Permit 44 for Mining Activities from the U.S. Army Corps of Engineers.
• NMED Air Quality New Source Review Permit 0365-M3 remains in effect.
• NMED Groundwater Discharge Permit DP-1840 remains in effect (despite appeals).

Social Achievements

• Maintained positive working relationships with local communities; secured resolutions of support from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.
• Active website and social media presence to keep the public informed.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Legal challenges to water rights and permits.
• Securing sufficient water supply for mine operations.
• Appeals of permits and court decisions.
• Liquidity risk due to high debt and low cash position.
• Dependence on financing from majority shareholder.

Mitigation Strategies

• Appealing court decisions regarding water rights.
• Acquiring additional water rights through lease agreements and purchase.
• Exploring mineral processing options to reduce water needs.
• Engaging with NMOSE to secure permits.
• Considering potential financing opportunities and development partnerships.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting
• Community Relations

Environmental Achievements

• Received Nationwide Permit 44 for Mining Activities from the U.S. Army Corps of Engineers.
• NMED Air Quality New Source Review Permit 0365-M3 remains in effect.
• NMED Groundwater Discharge Permit DP-1840 remains in effect.

Social Achievements

• Maintains active website and social media presence to keep the public informed.
• Secured resolutions of support for Copper Flat from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Legal challenges to water rights and permits.
• Securing sufficient water supply for mine operations.
• Obtaining necessary federal and state approvals.

Mitigation Strategies

• Appealing court decisions regarding water rights.
• Acquiring additional water rights through lease agreements and purchase.
• Engaging with regulatory agencies to address permit applications and protests.
• Reviewing mineral processing options to reduce water requirements.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting and Approvals
• Community Relations
• Environmental Protection

Environmental Achievements

• Received a positive decision on the Copper Flat Mine FEIS from the BLM, approving open pit mining and mineral processing.
• Received authorization from the U.S. Army Corps of Engineers under Nationwide Permit 44 for Mining Activities.

Social Achievements

• Maintained positive working relationships with local communities; secured resolutions of support from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.
• Implemented actions at the Copper Flat Mine complying with New Mexico Public Health Orders and WHO best practices in response to COVID-19.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Legal challenges to water rights and permits from project opponents.
• Securing sufficient water supply for mine operations.
• Obtaining necessary federal and state approvals for construction, operation, and reclamation.
• Negative trends in metals prices impacting financing ability.

Mitigation Strategies

• Appealing court decisions regarding water rights.
• Acquiring additional water rights through lease agreements and purchase options.
• Engaging with NMOSE to secure permits for project water rights.
• Reviewing mineral processing options to reduce water requirements.
• Proactive community engagement to address concerns.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting
• Community Relations

Environmental Achievements

• Received a positive decision on the Copper Flat Mine FEIS from the BLM, approving open pit mining and mineral processing.
• NMED Air Quality New Source Review Permit 0365-M3 and NMED Groundwater Discharge Permit DP-1840 remain in effect.

Social Achievements

• Maintains an active website and social media presence to keep the public informed.
• Secured resolutions of support for Copper Flat from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Securing sufficient water rights for mine operations.
• Obtaining necessary federal and state approvals for construction, operation, and reclamation.
• Legal challenges from project opponents regarding water rights and permits.
• Liquidity risk due to negative working capital and reliance on loans.

Mitigation Strategies

• Engaging with NMOSE to secure water rights, including acquiring a lease from the Jicarilla Nation.
• Addressing appeals and pursuing additional water rights options.
• Continuing efforts to obtain federal and state permits.
• Exploring potential opportunities for financing and development partnerships.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting and Approvals
• Community Relations

Environmental Achievements

• Completed a National Environmental Policy Act (NEPA) compliant Environmental Impact Statement (EIS) resulting in a positive decision from the Bureau of Land Management (BLM) in August 2019.
• Received verification from the U.S. Army Corps of Engineers that its plans are authorized by Nationwide Permit 44 for Mining Activities.

Social Achievements

• Maintains an active website and social media presence to keep the local public informed.
• Secured resolutions of support for Copper Flat from the City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Securing sufficient water rights for mine operations.
• Obtaining necessary federal and state permits.
• Addressing appeals and protests from project opponents.
• Securing financing for project development.

Mitigation Strategies

• Engaging with the New Mexico Office of the State Engineer (NMOSE) to secure water rights.
• Actively pursuing federal and state permits.
• Addressing appeals and protests through legal and public engagement.
• Exploring financing options, including loans from controlling shareholder and potential development partnerships.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Incurred a loss of $8,948,970 for the period ended March 31, 2022, and had a working capital deficiency of $142,294,043 as at March 31, 2022.
• Forecast cash requirements for the next twelve months exceed the undrawn amount available under the Company’s loan agreements with Tulla Resources Group Pty Ltd.
• COVID-19 pandemic and its potential effects on the Company’s business or ability to raise funds.

Mitigation Strategies

• Continued support of shareholders and the ability to raise funds through the issuance of equity or debt will be required to continue and advance the Copper Flat project.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting and Approvals
• Community Relations

Environmental Achievements

• Received verification from the U.S. Army Corps of Engineers that its plans for the Copper Flat Mine are authorized by Nationwide Permit 44 for Mining Activities.

Social Achievements

• Maintains an active website and presence on social media platforms; City of Elephant Butte, Village of Williamsburg, and Sierra County Commission passed resolutions of support for Copper Flat.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Securing sufficient water supply; challenges from project opponents in obtaining operating permits; appeals to existing applications; securing additional water rights; negative trends in metals prices affecting financing; negative working capital position; obtaining necessary permits and title agreements; negotiating water rights; potential for delays or failure to obtain permits; potential for new or changed regulations; hazards and risks of exploration, development, and production; fluctuations in commodity prices; potential changes in federal government royalty rates; market volatility.

Mitigation Strategies

• Engaging with NMOSE to secure water rights; acquiring a lease from the Jicarilla Nation for water; leasing existing water rights; addressing appeals through legal processes; monitoring copper prices; seeking financing and development partnerships; engaging with government officials to obtain permits; managing risks through monitoring and timely decisions; relying on financing from majority shareholder and exploring public markets.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Water Management
• Permitting
• Community Relations

Environmental Achievements

• Received verification from the U.S. Army Corps of Engineers that its plans for the Copper Flat Mine are authorized by Nationwide Permit 44 for Mining Activities.

Social Achievements

• Maintains an active website and presence on social media platforms; The City of Elephant Butte, the Village of Williamsburg, and the Sierra County Commission have passed resolutions of support for Copper Flat.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Securing sufficient water supply; Obtaining Federal and State approvals to construct, operate, and reclaim the Copper Flat Mine; Challenges from project opponents regarding water rights and permits.

Mitigation Strategies

• Engaging with NMOSE to secure water rights; Acquiring a lease from the Jicarilla Nation for water; Filing applications to NMOSE to change the point of diversion of water; Reviewing options for addressing appeals and securing additional water rights; Maintaining open communication with local communities.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed