Copperwood

The Copperwood project is located in the Upper Peninsula of the State of Michigan some 30 kilometres southwest of the inactive White Pine Mine where over 1.7 million tonnes of copper and over 4.5 million ounces of silver were produced between 1953 and 1996.

Through its wholly-owned subsidiary, Orvana Resources US Corp., Orvana entered into long-term mineral lease agreements covering 936 hectares within the “Western Syncline”, which is located in the the State of Michigan, USA comprising the “Copperwood Project”. The Company also completed option agreements on three other mineralized areas, which are referred to collectively as the “Copperwood Satellites”. In addition, the Company purchased the surface rights on about 700 hectares that secured access to the Copperwood Project and additional space for infrastructure.

In February 2012, the Company announced results of an NI 43-101-compliant feasibility study, “Feasibility Study of the Copperwood Project, Upper Peninsula, Michigan, USA” (the “Copperwood Technical Report”).

Production for the 13-year mine life will be about 1.5 million short tons of copper concentrate averaging about 28,000 short tons of copper per year at the 7,500 short tons of ore per day capacity. Copper will be extracted by conventional flotation.

Optimization work continues further to the Copperwood Technical Report, with a focus on additional metallurgical testing and mine design.

The Company has achieved all major permitting milestones in respect of the Copperwood Project.

The Copperwood project is shovel ready and has the potential to be in production as early as 2015. Orvana is continuing to investigate a variety of possible options and financing alternatives to enhance the value of the Copperwood Project to Orvana’s shareholders.

  Mid-Continent Rift

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Copperwood and Satellite Deposits

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