MET ALS CREEK RESOURCES Forw a rd L o o king S ta te m e n ts Certa in sta te m e n ts inclu d e d in th is p rese n ta tio n a re f o rw a rd loo ki n g sta te m e n ts w h ich a re m a d e p u rsua n t to th e saf e h a rbo r p rov isi o n s o f th e Unite d S ta te s P ri v a te S e cu ri tie s L itig a tio n Ref o rm A ct o f 1 9 9 5 T h e y inclu d e e stima te s a n d sta te m e n ts th a t d e scri b e th e Com p a n y s f u tu re p lan s o b ject iv e s a n d g o a ls inclu d in g w o rds to th e e f f e ct th a t th e Com p a n y o r m a n a g e m e n t e x p e cts a st a te d co n d itio n o r resu lt to o ccu r W h e n use d he r ein w ords su ch as est ima te ex pe ct be li ev e inte nd bu dg et pla n projectio n prog r essing str a te g y ou tlo o k w il l a n d o th e r sim il a r e x p ression s a re int e n d e d t o ide n tif y f o rw a rd loo kin g sta te m e n ts I n p a rticular sta te m e n ts relat ing to t h e e stim a te d f u tu re m e ta l p ri ce s ca sh f low s e x p e n se s ca p ita l co sts o re p rod u ctio n m ine li f e f ina n ci n g co n struc tio n a n d co m m issi o n i n g a re f o rw a rd loo kin g sta te m e n ts S u ch f o rw a rd loo king sta te m e n ts inv o lv e in h e ren t ri sks a n d u n ce rtain tie s a n d a re su b ject to f a cto rs m a n y o f w h ich a re b e y o n d o u r co n trol th a t m a y ca u se a ctu a l resu lts o r pe rf o rm a n ce to d if f e r m a te ri a ll y f rom th o se cu rr e n tly a n ticipa te d in su ch sta te m e n ts I m p o rtan t f a cto rs th a t co u ld ca u se a ctu a l resu lts to d if f e r m a te ri a ll y f rom th o se e x p resse d o r im p li e d b y su ch f o rw a rd loo king sta te m e n ts inclu d e a m o n g o th e rs m e ta l p ri ce v o lat il ity ch a n g e s in th e US CD N d o ll a r e x ch a n g e rate e co n o m ic a n d p o li tica l e v e n ts a f f e ctin g m e ta l su p p ly a n d d e m a n d f luct u a tio n s in o re g rad e o re to n n e s m il led g e o log ical te ch n ical m inin g o r pro ce ssing p rob lems f u tu re p rof ita b il ity a n d p rod u ctio n a v a il a b il ity o f f ina n cin g o n acce pt ab le te r m s an d un ex pe cte d prob lem s du r ing th e de v elo pm e n t con str uct ion an d sta r t up ph ase s of th e u n d e rg rou n d m ine Fo r a m o re co m p reh e n siv e rev iew o f ri sk f a cto rs p lea se ref e r to t h e Com p a n y s m o st rece n t A n n u a l Rep o rt in Form 4 0 FA n n u a l Rep o rt u n d e r M a n a g e m e n t s Di scu ssion a n d A n a ly sis o f Fina n cial Resu lts a n d A n n u a l In f o rm a tio n Fo rm u n d e r R isk Fact o rs o n f il e w ith t h e US S e cu ri tie s a n d E x ch a n g e Com m issi o n a n d Can a d a p rov incia l se cu ri tie s reg u lat o ry a u th o ri tie s T h e Com p a n y d iscl a im s a n y o b li g a tio n to u p d a te o r rev ise a n y f o rw a rd loo kin g sta te m e n ts w h e th e r a s a resu lt o f n e w in f o rm a tio n e v e n ts o r o th e rw ise Re a d e rs a re ca u tio n e d n o t to p u t u n d u e reli a n ce o n th e se f o rw a rd loo kin g sta te m e n ts Descript ion s o f m ine ral rese rv e s a n d reso u rces e stim a te s inclu d e d h e rein u n d e r Can a d ia n st a n d a rds m a y n o t b e co m p a rab le to sim il a r inf o rm a tio n m a d e a v a il a b le b y US co m p a n ie s su b ject to rep o rting a n d d iscl o su re req u ir e m e n ts o f th e Unite d S ta te s S e cu ri tie s a n d E x ch a n g e Com m issi o n S e e M ine ral Rese rv e a n d Reso u rce E stim a te Not e to US S h a reh o ld e rs in th e A n n u a l Rep o rt in Form 4 0 F T h e p rese n ta tio n h a s b e e n p re p a re d b y m a n a g e m e n t o f M e ta ls Cr e e k Reso u rces a n d d o e s n o t rep rese n t a reco m m e n d a tio n to b u y o r se ll t h e se se cu ri tie s I n v e sto rs sh o u ld a lw a y s co n su lt th e ir inv e stm e n t a d v isors p ri o r to m a king a n y In v e stm e n t d e cisi o n