Gunnison Copper Corp. · TSX:GCU
Gunnison Copper — Non-Deal Roadshow (July 2025)
24 slides from Gunnison Copper's roadshow presentation, Jul 24, 2025
Slide 1: Invest in America
Invest in America TSX:GCU / OTCQB: GCUMF www.GunnisonCopper.com TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS 1
Slide 2: Disclaimers
Disclaimers Special Note Regarding Forward-Looking Information: This presentation contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this presentation includes, but is not limited to, statements
Slide 3: Pure Play Copper Vehicle in SE Arizona (a Tier 1 Mining Jurisdiction)
Pure Play Copper Vehicle in SE Arizona (a Tier 1 Mining Jurisdiction) Why Invest in Gunnison Copper? 1. Johnson Camp Mine - in Construction 2. Gunnison Copper Project - Open Pit PEA 3. Exploration Upside Why Invest Now? • Made in America Copper • Major backers – Rio Tinto & US Dept of Energy • Under
Slide 4: Why Invest?
Why Invest? TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS 4
Slide 5: Multi Asset Copper Development & Production Opportunities
Multi Asset Copper Development & Production Opportunities All Deposits within 8km economic radius Gunnison Copper Project Johnson Camp Mine Strong & Harris PEA - Resource Development Under Construction Satellite Deposits Open Pit M&I Resources: 832 Mtons @ 0.31% First Copper Production Q3 2025 Infer
Slide 6: Illustrative Investor Value Proposition – Comparison vs Peers (P/NAV)
Illustrative Investor Value Proposition – Comparison vs Peers (P/NAV) 0.05 P/NAV +978% The PEAs are preliminary in nature, they include inferred mineral resources that are considered too speculative Upside geologically to have the economic considerations applied to them that would enable them to be
Slide 7: Johnson Camp Mine – Construction Update and Key Metrics
Johnson Camp Mine – Construction Update and Key Metrics Construction Update • Started leaching copper in July • First copper cathode sales by September • Cathode will be sold domestically to energy, defense, and/or manufacturing supply chains Key Metrics • 25 million lbs per year nameplate capacity
Slide 8: Johnson Camp Mine – Construction Update
Johnson Camp Mine – Construction Update Health & Safety • 386,855 hours worked project to date • Zero lost time accidents Mining • Mining of mineralized material commenced in January 2025 and is being stockpiled in advance of completion of the leach pads • Stacking and acid curing of mineralized mat
Slide 9: Johnson Camp Mine – Construction Update
Johnson Camp Mine – Construction Update Drip Lines Feeding Acidified Solution to Leach Copper from Mineralized Material TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS 9
Slide 10: Gunnison Open Pit: Key Metrics
Gunnison Open Pit: Key Metrics Gunnison Financial Metrics Pit Waste • NPV @ 8% (after-tax) $1,260M Rock • Internal Rate of Return 20.9% Waste I-10 • Sustaining Cash Cost (LOM Avg) $1.94/lb Rock Gunnison WRF • Payback Period 4 years Pit Production Metrics WRF • Annual Copper Cathode1 ~170 million lbs
Slide 11: Gunnison Open Pit: 2024 PEA Mine Plan
Gunnison Open Pit: 2024 PEA Mine Plan • $1.61 / ton of material moved (incl. def stripping) . ~70% alluvium waste (gravel) is 35% cheaper to mine vs hard rock • Strip ratio of 2.06:1, effectively 1.57:1 with reduced alluvium costs, compares favorably to peers • 320-ton haul trucks, with an LOM avera
Slide 12: Gunnison High Value Add Work Plan – Gravel By-Product
Gunnison High Value Add Work Plan – Gravel By-Product Alluvium (gravel) Gravel By-Product • ~760 M tons LOM • Rail spur provides access to markets Impact on Project Valuation • E.G., just 10% sold at $5/ton = ~$380M additional gross revenue (before costs) 2025 Plan to Advance • Engage independent Gr
Slide 13: Gunnison High Value Add Work Plan – Limestone By-Product
Gunnison High Value Add Work Plan – Limestone By-Product Limestone By-Product Limestone • 85 m tons LOM • Rail spur provides access to markets Impact on Project Valuation • E.G., just 50% sold at $20/ton = ~$850M additional gross revenue (before costs) 2025 Plan to Advance • Engage independent Limes
Slide 14: Gunnison High Value Add Work Plan – Mineralized Material Sorting
Gunnison High Value Add Work Plan – Mineralized Material Sorting Opportunity • Machines mechanically remove low grade material from the processing stream using available optical recognition technology • Early test work 100% successful Impact on Project Valuation • Potential for significant operating
Slide 15: Exploration Upside- Cochise Mining District SE Arizona
Exploration Upside- Cochise Mining District SE Arizona • First time the Cochise Mining District is in Cu-Zn-Ag one ownership: Gunnison Copper Zone Strong and Harris Peabody Sill • Classic Porphyry Copper style alternation and zonation Peabody Mine Moore Pb-Zn-Ag • No systematic modern exploration No
Slide 16: Why Invest Now?
Why Invest Now? TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS 16
Slide 17: U.S. Government Support: Strategic Tailwinds for Domestic Copper
U.S. Government Support: Strategic Tailwinds for Domestic Copper DOE Tax Credits Executive Order 14241 Defense Production Act Copper Tariffs Johnson Camp Mine Declared a national emergency on Invoked to provide funding, loans, U.S. to impose 50% tariff on and guarantees for U.S.-based copper imports
Slide 18: Illustrative Investor Value Proposition – Comparison vs Peers (P/NAV)
Illustrative Investor Value Proposition – Comparison vs Peers (P/NAV) 0.05 P/NAV +978% The PEAs are preliminary in nature, they include inferred mineral resources that are considered too speculative Upside geologically to have the economic considerations applied to them that would enable them to be
Slide 19: Major Catalysts Coming Up
Upcoming Catalysts – Next 6, 12 and 18 Months 6 4 4 H2 H1 H2 2025 2026 2026 • Gunnison Project High Value Add • Onboard Strategic Investors • Rio Tinto Exploration Work Plan results Partnership Agreement Results • Johnson Camp Mine reaches Full • Johnson Camp first Copper Production • Pre-Feasibilit
Slide 20: Gunnison Copper Project – Path Forward
Gunnison Copper Project – Path Forward Reserve + Permitted MAJOR VALUE ADD Unlock Top Opportunities & De-risk = VALUE ADD Project Sanctioning First Production The milestones in the table above are indicative only and each milestone is subject to the successful completion of the prior milestone. Thes
Slide 21: Capital Structure and Ownership
Capital Structure and Ownership Capital Structure Ownership3 Market Capitalization C$86.5M US$61.8M Shares Outstanding 361.5M 361.5M Options 27.1M 27.1M Warrants 40.2M 40.2M Convertibles 75.4M 75.4M Fully Diluted Share Capital 504.1M 504.1M Convertible Debt1, 2 C$16.4M US$11.7M Non-Convertible Debt1
Slide 22: Gunnison Copper – Key Team Members
Gunnison Copper – Key Team Members Management Board of Directors Stephen Twyerould, Ph.D – CEO, President and Director Fred DuVal – Chairman of the Board Mr. DuVal was the Democratic nominee for Governor of Arizona in Over 35 years’ experience in the mining industry across numerous 2014 and served a
Slide 23: Additional Information - Gunnison Copper Project
Additional Information - Gunnison Copper Project JOBS University of Arizona • Mining – 254 Economic Impact Study • Administration – 13 underway with information • Plant – 84 available in July 2025! • Average annual salary $84,499 Property Taxes • $54M or $3M a year into local community State Taxes •
Slide 24: Value Proposition
Value Proposition: • US copper producer this year • Significant catalysts over next 6, 12 and 18 months • +975% potential return to peer valuation and M&A transaction info@GunnisonCopper.com TSX: GCU / OTCQB: GCUMF / Frankfurt: 3XS www.GunnisonCopper.com