| Long-Term Price Case | $24/oz. Ag, $1.10/lb. Zn, $1.00/lb. Pb |
| Project | Prairie Creek |
| Mineral Reserves | 159,766,517 AgEq ozs. |
| Shares Outstanding | 372,540,000 |
| Market Cap | $23,470,010 |
| Average Annual Production | 10,064,587 AgEq ozs. |
| Recovery | 87% Ag, 88% Pb, 83%, Zn |
| LoM | 15 Years |
| Payable Product | 150,968,809 AgEq ozs. |
| True All-in Cost (TAIC) | $18.59/oz. |
| Gross Revenue | $3,623,251,416 |
| Smelter Deductions | ($350,261,000) |
| TCRC + Penalties | ($333,905,200) |
| Gross Income | $2,939,085,216 |
| Total Operating Cost | ($1,386,771,250) |
| Operating Profit | $1,552,313,966 |
| Income Taxes | ($411,363,201) |
| Royalties | ($18,627,768) |
| Total Capital Costs | ($305,436,850) |
| Net Income | $816,886,147 |
| Net Profit Margin | 23% |
| Absolute Cost Structure (ACS) | 77% |
| MTQ Score | 0.3 |
| True Value | $2.19/sh. |
| True Value Discount (TVD) | 97% |
| Cash Flow Multiple | 5x |
| Annual Cash Flow | $54,449,416 |
| Future Market Cap | $272,247,080 |
| Future Market Cap Growth | 1,060% |
| Target | $0.73/sh. |
Notes: All Values in U.S. Dollars
NorZinc Newfoundland NI-43-101 Compliant Indicated Resources
| DEPOSIT | Zinc (lbs.) | Lead (lbs.) | Copper (lbs.) | Silver (ozs.) | Gold (ozs.) | Zinc Equivalent (lbs.) |
| LEMARCHANT | 328,113,985 | 85,363,988 | 36,279,270 | 36,279,270 | 86,112 | 697,621,844 |
| BOOMERANG | 212,695,861 | 90,252,841 | 15,342,983 | 4,386,054 | 66,069 | 499,031,249 |
| LONG LAKE | 70,167,406 | 14,177,046 | 8,703,630 | 581,671 | 6,766 | 124,637,849 |
| TOTAL | 610,977,252 | 189,793,875 | 60,325,883 | 41,246,995 | 158,947 | 1,321,290,942 |
Like substantially de-risked Prairie Creek, NorZinc’s 1.3B lbs. of ZnEq in Newfoundland is not currently reflected in the company’s market cap, further deepening the special value proposition open to patient, risk-tolerant speculators.
