MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998...

47

Transcript of MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998...

Page 1: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014
Page 2: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Forward-Looking StatementsThis presentation includes certain statements that express management’s expectation or estimates of future performance and may be deemed “forward-looking statements”. These forward-looking statements include plans, estimates, forecasts and statements as to management’s expectations regarding the Company mining projects. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the CUMO Project, and prepared the technical information contained in this disclosure.

Page 3: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Headquartered in Vancouver, Canada

A Mining Exploration and Development company listed on TSX Venture Exchange – MSQ

Diverse Portfolio of high-return Precious and Base Metals projects, significant exposure to gold

Projects located in North America and Australia, both low political risk environments

Commitment to maintaining high percentage of multi-element properties

Strong, proven management team and Board of Directors with decades of mining industry experience

Company Profile

Page 4: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Mosquito Gold Mine

Mosquito Consolidated founded in 1971 as Mosquito Creek Gold Mines Ltd.

Company put Mosquito Creek gold mine into production in 1980

Mosquito Creek one of the top five historic gold producing mines in British Columbia

Current management has been in place since 1991

Company actively exploring globally for over 15 years

Company has strategically built an impressive portfolio ofprojects having long-life mines, multi-elements, and multi-billiondollar resources

History of Mosquito

Page 5: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Mosquito’s projects are concentrated in areas of low political risk and mining-friendly environments, resulting in a portfolio of properties second to none.

Diverse Portfolio of Projects

Page 6: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

MOLYBDENUM is known for its use in production of steel alloys due to its:

Strength

Weld ability

Corrosion resistance

The uses for Molybdenum, especially in the area of environmental pollution control, are expanding on a yearly basis at a rapid rate:

Major demand from huge oil pipeline infrastructure

Nuclear reactor construction

Ideal for severe abrasive conditions

Used in sulfur scrubber towers

Brewery and Piping systems

Pollution control equipment

Molybdenum - The 21st Century Metal

Page 7: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Metal Analysts are predicting an increase in demand of 5 to 7% annually during the next decade for molybdenum with only a moderate increase in production. Demand for molybdenum is being driven by:

Oil pipelines, both new and old being replaced, with an estimated demand of 500 to 600 million lbs of molybdenum

Nuclear reactors and waste storage facilities that will require at least 400 to 500 million lbs of molybdenum

Coal liquefaction and tar sands oil expansion requiring large amounts of molybdenum as a catalyst

Increased activity in off-shore drilling for oil and gas, expected to rise 30% over 10 years

Continuing high rates of industrialization in China, India, Russia and Brazil

NEW USE: Agriculture shows applying 0.5 to 1lb Mo per acre improves crop yields by 30% Molybdenum is benign to environment. The entire worlds yearly production of Molybdenum would be required to cover just the USA agricultural land.

Increased interest from Asia – Japan and Korea building ‘strategic’ moly inventories

Molybdenum - Supply vs. Demand

Page 8: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

0

100,000

200,000

300,000

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600,000

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1996

1997

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2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

supply(millions lbs)Demand(millions lbs)

Low Cost producer CUMO would fill demand as by -prouct Molybdenum drops

Molybdenum - Supply vs. Demand Cont’d

Sources : Existing producers, CRU, IMOA 2006-20020, USGS

Roasting Capacity

Forecasted

Page 9: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Largest un-mined open pit molybdenum deposit in the world

Only 23% of deposit drilled to date

Potentially the world’s lowest-cost producer and single largest producer (80 million lbs per yr)

CUMO deposit currently contains:

NI 43-101 confirmed

By-products Cu, Ag ,W, Re and sulphuric acid cover most of the production cost

$70 billion dollars of recoverable metal

Low strip ratio and 100% owned interest

CUMO Deposit Key Facts

billion tons2.521.44

million lbs of Tungsten (W)175.5127.3

million ounces of silver (Ag) and158.595.0

billion lbs of Copper (Cu),3.662.21

billion pounds of molybdenum oxide(MoO3)2.291.84

MetalInferredIndicated

Page 10: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Hwy 21

Grimes CkPlacer Tailings 3 Million ozs Au

Idaho City

CUMOMineralized

Zone

2008 Resource

CUMO Infrastructure

5 Miles

N

60 miles from Thompson Creek – a mine which supports the richest county in Idaho and has won several environmental awards.

CUMO located in one of the poorest counties in Idaho – mine would greatly benefit county

Extensive logging and mining throughout the area

Easy access using state highways and forestry service roads

Extensive downstream (40 km) of gold placer tailings below project.

Power and water accessible near site

Boise, Idaho 35 miles away, a major economic centre and industrial centre

Page 11: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

2010 proposed Site

CUMO Project View looking South East

Page 12: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

1500 FEET

South North

Inferred > $22.50 per ton

Inferred $7.50 to $22.50/ton

(stockpile)

Indicated >$22.50 per ton

Drill Hole

Cu-Ag

Cu-MoS2

MoS2

Possible finalPit Boundary

CUMO high-grade near surface - Low Strip Ratio Open PitCUMO Long Section

Stage 1Pit Boundary

Undrilled Mo Zone

Undrilled Cu-Mo Zone

Undrilled Cu-Ag Zone

Completed Proposed

Stage 3Pit Boundary

Stage 2Pit Boundary

Indicated $7.50 to $22.50/ton

(stockpile)

Note: GRV Values are US$, after recoveries are included as per Giroux 2009

Page 13: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

CUMO Conceptual Pit – Stage 1 – mine year: pre-strip to 1

2010 proposed Site

Main Zone

Based on 150,000 tons per day case.

Page 14: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

CUMO Conceptual Pit – Stage 2 – mine year: 1 to 7

2010 proposed Site

Main Zone

Based on 150,000 tons per day case.

Page 15: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

CUMO Conceptual Pit – Stage 3 – mine year: 7 to 16

2010 proposed Site

Main Zone

Based on 150,000 tons per day case.

Page 16: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

CUMO Conceptual Pit – Stage 4 – mine year: 16 to 40

2010 proposed Site

Main Zone

Based on 150,000 tons per day case.

Page 17: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

250 meters

Completed Site

2009 Indicated Resource

Mineralized Zone

CUMO Conceptual Pit – Stage 5 – mine year: 40 to 50+

2010 proposed Site

Main Zone

Based on 150,000 tons per day case.

Page 18: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Excellent recoveries of Mo, Cu, Ag, even from low grade materialCleaner Concentrate Recoveries (3 cleaning stages):

Cu-Ag zone: 82.2% Mo, 63.3% Cu,71.6% AgCu-Mo zone: 93.7% Mo, 88.6% Cu and 80.0% AgMo zone : 96.2% Mo, 81.8% Cu and 58.3% Ag

No problematic minerals such as pyrite, clay or talc.

Straight forward flotation mill flow sheet, low reagent consumption and thus low operating cost.

Preliminary tests indicate tailings are acid neutralizing (non-acid generating), which will result in substantial cost savings and faster permitting.Able to produce two concentrates : Cu with Ag (>20% Cu) and Mo (>50%)

Cu concentrate sold to smelter, Mo concentrate roasted at CUMO controlled facility.Preliminary Tungsten recoveries indicate 40% from concentrator and 26% from tables. Chemical recovery techniques are being examined to replace the tables.By-product rhenium and sulphuric acid quantities are recoverable. 1 ton of MoS2 concentrate will produce 31 to 35 gms Rhenium and 2 tons of Sulphuric acid

Metallurgy Summary

Page 19: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Comparison of CUMO

Cumo and Pine Tree vs Molybdenum Deposits(based on lbs of Contained Molybdenum Oxide)

0.0

1,000.0

2,000.0

3,000.0

4,000.0

5,000.0

6,000.0

7,000.0

8,000.0

CUMO Targ

et(15

0ktpd)

El Ten

iente

Pebble

total

Bingham

ButteCumo_o

veral

lCumo_$

7.50

Cumo_$10

.00Mt H

opePeb

ble W

est

Pine Tree

(1.0

billion)

Toqup

ala

Spinifex

ridge

Shaft C

reek

ChuCajo

ne

Pine Tree

(500

milli

on)

Thompso

n cree

kMine

ral Par

kEnda

koBag

hdad

Creston

Ruby C

reek

Quella

veco

Magist

ral

MaxLuc

ky Ship

Poplar

Note: Cumo is a 43-101 Resource estimateCumo Target based on 150k TPD rate and Ultimate pit design includes uncalculated blocksPine Tree is only a conceptual targetMolybdenum oxide is final product sold by operations of CUMO szie

Cumo Target and Pine Tree Target are conceptual targets based on the geology, alteration,drill holes and blocks not currently included in a 43-101 resource estimate and under section 2,3(a) of Ni instrument 43-101 are considered conceptual and there has been insufficient exploration at this time todefine a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource

Un_mined Open PitOther Moly MinesCumo Target

Page 20: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

0

0.05

0.1

0.15

0.2

0.25

0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100

5-Yr Average production (M lbs Mo)

5-Yr

Ave

rage

Gra

de (%

Mo)

CUMO Dwarfs All Others

Climax (FCX)

(on Hold)

Henderson (FCX)

(Underground)

Spinifex Ridge (MOL)

Endako (TC)

Ruby Creek (AUA)

Creston (CMS)

Thompson Creek (TMO))

Mt Hope (GMO)

CUMO (MSQ) 150,000 tpd

Bubble Size denotes size of the current reserves/resources

Green is producing mine

Indicated

Inferred

Page 21: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Notice:As per 43-101 section 2.3(3b), the next series of slides contain the results of an independent Preliminary Economic Assessment managed by Ausenco Minerals Inc. and the following statement is required:

The preliminary assessment is preliminary in nature, and includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.

Assumptions and qualification made in the assessment are listed.

It should also be noted that the terms Ore and Stockpile are used, as defined in the Preliminary Economic assessment for the purposes of producing an economic analysis.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the CUMO Project, and prepared the technical information contained in this disclosure.

CUMO Preliminary Economics

Page 22: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Results from independent Ni 43-101 Preliminary Economic Assessment managed by Ausenco Minerals Inc., a world leading engineering firm.

Assumptions:Pre-tax financial model (earnings before interest, tax, depreciation and amortization)

Mine Life minimum 40 years with tonnage rates of 50,000, 100,000,150,000 and 200,000 tons per day

Metal Recovery : varied according to metal zoneGrade cutoffs : $0 to $7.50 waste; $7.50 to $20.00 stockpile; >$20 mill feed (ore)Strip ratio determined by pit design: four conceptual pits designed progressively getting larger

Metal prices per lb MoO3 $7.5 ,$16 and $28/lb and a varied price base on a 10 year metal price cycle with a low of $7.5 and a high of $28/lb MoO3.5% discount cash flow rate

Ore is crushed near the open pit and sent by conveyor to the mill site

Stockpile material is stored in close proximity to the open pit

CUMO Preliminary Economics

Page 23: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

CUMO Preliminary Economics - HighlightsExamination of the results of the assessment, indicates that an initial production rate of 100,000 to 150,000 tons per day is best. In the future Mosquito will focus on an initial production rate of 125,000 tons per day for the first 7 years and then add an additional 50,000 tons per day of capacity. A second addition is also possible.

* PIT LIFE is total tons of stockpile and ore inside the pit design divided by production rate. The current mineral resource only defines a portion of the total ore and

stockpile material within the pit designs and additional drilling is required to confirm that it is actually there.** TMO is Technical Grade Molybdenum oxide and contains >60% Mo, which is better than by-product grade Molybdenum oxide which is below 60% Mo.

46,500 tons69,000 tonsSulphuric Acid

1,300 kilograms1,860 kilogramsRhenium

1.5 million2.1 millionSilver

37.5 million53.9 millionPounds copper

43.2 million64.1 millionPounds Molybdenum Oxide (TMO)**

Metal Production/Year

169 years113 yearsTotal Pit Life *

$2,200 million$2,800 millionStartup Capital Cost

$4.30/$0.58$3.90/$0.50Cost/lb: Molybdenum oxide/ Copper

3.0 years2.3 yearsPayback Period

29%36%Internal Rate of Return

US$10 billionUS$16 billionNet Present Value ((NPV 5%)

100,000 tons/day150,000 tons/day

Page 24: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Net Present Value (Millions US$) versus Price per Lb MoO3for 4 stage pit production

$12,000

$16,000

$10,000

$5,500

$4,000

$22,000

$10,000

$1,100

$27,000

$20,000

$3,000

$45,000

$27,000

$21,000

$4,500

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

0.00 5.00 10.00 15.00 20.00 25.00 30.00$ per Lb

$Npv

(000

's)

50000tpd100000tpd150000tpd200000tpd

10 year Metal Cyclelow $7.5/lb high $28/lb MoO3

Net Present Value:based on prices per pound Molybdenum Oxide at various production rates using a recoverable grades in Open pit designs

All by-product metals included in estimates

CUMO Preliminary Economics

Page 25: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Internal Rate of Return versus Price per Lb MoO3for 4 stage pit production - all elements

51.00%

36.00%

61.00%

36.00%

26.00%

19.00%

3.00%

39.00%

29.00%

9.00%

12.00%

49.00%

66.00%

55.00%

40.00%

15.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

0.00 5.00 10.00 15.00 20.00 25.00 30.00$ per Lb

IRR

%

50000tpd100000tpd150000tpd200000tpd

10 year Metal Cycle pricinglow $7.5/lb high $28/lb MoO3

Internal Rate of Return:based on prices per pound Molybdenum Oxide at various production rates using a recoverable grades in Open pit designs

All by-product metals included in estimates In North America anything over 12% IRR is considered for production.

CUMO Preliminary Economics

Page 26: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

CUMO Preliminary Economics Grade Example 150,000 tpd - grades

0.040

0.050

0.060

0.070

0.080

0.090

0.100

0.110

0.120

0.130

0 10 20 30 40 50 60

year

Rec

over

ed M

oS2

%

optimized_mos2non-optimized_Mos2

pushback #1 pushback #2

Note: MoS2% has recoveries taken into account and therefore is lower than intersection grades by 6 to 10%

pushback #3

Graph shows the effects on grade of mining a series of push backs versus mining a single pit. The use of push backs increases the grade at the beginning, thus giving a faster payback period and better overall economics.

Page 27: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

CUMO Preliminary Economics Potential Improvements

Pre-strip costs can be removed, if waste material is used to construct low impact Hydroelectric facilities.Costs would be paid for by the Hydro project in return for guaranteed take or pay power contract.

Mine equipment costs currently used are full price with no discount for volume. Existing examples indicate a cost saving of 20-25% is possible by combining purchase and long term maintenance contracts.

Tailings dam costs, a major capital cost item is currently higher than other existing and proposed tailings facilities and needs to be studied in detail to determine actual costs.

Mining Costs: haulage routes and truck speeds need to be optimized as the cost to mine and move wasteis two to three times more than the cost of ore. Detailed analysis needs to be done to improve these numbers and reduce costs.

Crushing and haulage costs can be reduced by determining the best time to use in-pit crushing, instead of near pit crushing. Highland Valley Mine uses semi-mobile in-pit crushers to reduce costs.

Milling costs: Increasing grinding size, from the current fine grind, would substantially reduce power costs and also the wear and tear of the mill liners and balls. This can save between $1 and $1.50 per ton.

Ausenco recommends a detailed examination of the reagents used in the mill process. The current designincludes an expensive molybdenum collector, which may not be required and the lack of a pyrite suppressor which would improve concentrate grades, thus reducing costs.

Detailed studies of the operating cost for the combined roaster and acid plant is required as the current numbers are only rough estimates.

Detailed examination of the assessment indicates areas to be studied that could reduce capital (25%) and mining costs ($1 to $1.50/ton) and substantially improve the economics.

Page 28: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Filing of Environmental Assessment (EA) for public review and granting of permit for additional access.

Initiate engineering studies to finalize locations for mill, tailing and waste dump sites. Contract various

engineering specialists for the tasks.

Initiate bankable feasibility metallurgy study with 3.5 tonne bulk sample and 100 – 20 Kg variability study

Continue water baseline studies and initiate environmental studies required for permitting production.

Start Dialogue with local power company in regards to Hydro electric power potential.

Start dialogue with local fertilizer companies to examine potential usages of Molybdenum in tailings for

fertilizer production.

Start 2010 drilling program with holes designed to produce final outline of deposit for reserve

calculation/final pit designs, geotechnical drilling to determine pit wall stabilities and metallurgical holes for

bulk sample.

CUMO 2010 Work and Events

Page 29: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Large Copper-Molybdenum porphyry deposit located between Reno and Las Vegas in Mina, Nevada

Target is potential +1 billion ton Open Pit Molybdenum, Copper, Silver, Rhenium & Gallium deposit

Recent Discovery in Major Nevada Mineral belt

Over 20 holes to be drilled in 2008

2007 Drill intersections:Hole # 11: 1259.5 feet of 0.090% Molybdenite Equiv. (1.02% Copper Equiv.)Hole #12: 1102 feet of 0.101% Molybdenite Equiv. ( 1.14% Copper Equiv.)

43-101 Resource Calculation scheduled for late 2009

Pine Tree Deposit Key Facts

Page 30: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Pine Tree Drill Plan

Target is +1 billiontons of Molybdenum, Copper, Silver,Rhenium & Galliumgrade +0.6% Cu Equiv.

Page 31: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Pine Tree Project

Page 32: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Metals prices used for Copper (Cu) Equiv. : $15/lb MoO3,$1.25/lb copper , $10/oz Ag, $5/gram Re

Pine Tree Long Sections

Page 33: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Pine Tree Cross Section

Metals prices used for Copper (Cu) Equiv. : $15/lb MoO3,$1.25/lb copper , $10/oz Ag, $5/gram Re

Page 34: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Spruce Mountain Porphyry Molybdenum-Silver-Gold

A well-known copper-molybdenum porphyry deposit with gold, silver and rhenium by-products, located in Eastern NevadaDrill intersections include 170.7 meters grading 0.170% MoS2 and105.2 meters grading 0.l35% MoS2

Spring Creek Molybdenum-Silver-Copper

6 unpatented claims purchased in 2007 in Spring Creek, Idaho give Mosquito 100% undivided interest in the property

299 additional claims staked, covering the numerous Moly-Silver-Copper bearing quartz veins discovered in the property areaMosquito will pursue the property as a high-grade underground mining opportunity

Additional Molybdenum Projects

Page 35: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Spruce Mountain Porphyry Molybdenum-Silver-Gold

A well-known copper-molybdenum porphyry deposit with gold, silver and rhenium by-products, located in Eastern Nevada

Previously drilled by Amax, Freeport Minerals and Newmont, with 26,083 feet over 29 holes

Drill intersections include 170.7 meters grading 0.170% MoS2 and105.2 meters grading 0.l35% MoS2

Additional Molybdenum Projects

Page 36: MSQPresentation Oct 09 · 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 1996 1997 1998 19 99 2000 2001 2002 2003 2004 2005 200 6 2007 2008 2009 2010 2 011 2012 2013 2014

Spring Creek Molybdenum-Silver-Copper

6 unpatented claims purchased in 2007 in Spring Creek, Idaho give Mosquito 100% undivided interest in the property

299 additional claims staked, covering the numerous Moly-Silver-Copper bearing quartz veins discovered in the property area

Property examination by Mosquito personnel in the 2006 outlined at least 25 different quartz veins

Some of the veins have been traced on surface for distances up to 10,000 feet and have vertical distance in excess of 2,000 feet

Indication of a convergence of veins to a common focal point producing a potential large pipe-like target

Mosquito will pursue the property as a high-grade underground mining opportunity

Additional Molybdenum Projects

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Black Point Project:In Eureka County, Nevada, the largest gold-producing county in the U.S.Typical Nevada style epithermal system in the famous Battle Mountain-Eureka Gold BeltMosquito’s new interpretation of the geological setting and fluid studies point to a typical Nevada style bonanza gold deposit

Gold Projects

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Gold Projects cont’dBrett Project:

A Mosquito operated joint-venture gold deposit in south-central B.C.

Epithermal style gold mineralization withexcellent potential for low-cost production

recent assays as high as 34 feetgrading 0.30 ounces gold/ton and 4.5 feet grading 5.14 Ounces gold/Ton

Over $5 million spent on property development to date

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Cariboo Project:

In the Wells-Barkerville area, epicenter of the famous Cariboo Gold RushOver $25 million spent on mine developmentCurrently under option to International Wayside Gold Mines Ltd. $3.5 million payment received 2007, Mosquito still retains 50% interest; 3.5% NSR

Red Lake Project: (optioned to Skybridge Developments Jan 2009)

A group of patented mineral claims in Eastern Ontario located near the Goldcorp and Campbell Red Lake minesThe Goldcorp Mine is considered to be the richest gold mine in the worldPrevious work on the property consists of 25,994 feet of diamond drilling in 55 holesProposed drilling will target the intersection of two major structural trends

Gold Projects cont’d

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Located in the Mt. Isa-Cloncurry Area of NE Queensland, Australia’s pre-Cambrian Mineral Belt

A prolific mineral producing area, one of Australia’s most targeted mining regions

Property has been the subject of extensive geological mapping, geochemical and geophysical surveying

67 samples, concentrated in an area 49 hectares, showed values greater than 1.0% copper, averaging 5.91% copper and 1.85 grams of gold per ton

Two major discoveries in the immediate area of project announced July, 2006

Major Deposits Near Trikay

Trikay Copper-Gold Project : Property sold to Salmon River Dec 2008

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In 2007 Mosquito acquired 100% interest inKirkness Diamond Drilling of Carson City, Nevada

Kirkness was purchased for $3 million USD

Together with its own equipment, Mosquito now has11 drills, including underground and surface drills

Capability of supplying a wide range of drilling services

Mosquito now has the capacity to meet all of its own drilling requirements

Kirkness Drilling

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Extensive further development of the CUMO project with five to six drills on site commencing in June with on going engineering, environmental and metallurgical work that can be used in a bankable feasibility study.

Continue discussions with potential partners for CUMO, including large mining companies and overseas smelting companies

Obtaining analyst coverage for the Company with a focus on the CUMO project

Increasing awareness of the Company within the North American investment community with an aggressive investor and public relations program

Obtain Toronto Stock Exchange listing

Corporate Objectives for 2010

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Mosquito has compiled a strong, proven management team and Board of Directors with decades of mining industry experience

William F. Jefferies,

Director and Corporate Secretary

Brian A. McClay,

President and Chief Executive

Wayne Ash, P.Eng,

Director and Mining Engineer

Dr. Matt Ball, Ph.D., P.Geo.,

Director and Sr. Geologist

Shaun M. Dykes, M.Sc (Eng)., P.Geo,

Director and Exploration Manager

Management

Patrick Bronson

Director

Mr. Hongxue Fu (Hong Kong)

Chairman of the Board

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Listed on Toronto Venture Exchange, trading symbol MSQ

61.8 million shares outstanding (as of Jan 2010)

79.2 million fully diluted

Warrants: 1.54 million at $0.45 and 9.86 million at 0.30

Market Capitalization only $90 million, with multi-billion dollar resource assets

Excellent long-term shareholder base

Majority of shares held by management and knowledgeable investors

Significant institutional investor participation in last financing

Capital Structure

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Experienced Management team with a proven track record

Diverse Portfolio of high-return Precious and Base Metals projects, with significant exposure to gold

Debt-free with only 60 million shares outstanding

Company owned drilling operation ensuring all projects’ drilling needs are met

Poised to take advantage of current metal demands

Rapidly developing its Pine Tree project.

Focused on CUMO, currently the world’s largest un-mined open pit molybdenum deposit and still growing; NI 43-101 completed

Commencing an extensive drilling program for CUMO, Summer 2010

Corporate Summary

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A Diversified Mining Exploration and Development Company

Developing CUMO - The World’s Largest Un-mined Open Pit Molybdenum Deposit

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1616 West 3rd Ave., Suite 100Vancouver, British Columbia Canada V6J 1K2

Telephone: 604.689.7902Fax: 604.689.7816Toll-Free: [email protected]