Four Partnership Scenarios

Strategic exploration alliance

Earn-in joint venture agreements

Near-term producing assets

Properties Available

Hardshell Skarn
Jasper Canyon
Mesa Well
Park-Sayler

Properties Recently Optioned

Copper Springs
Mineral Hill
Silver Bell West
Superior West

Hardshell Skarn, Arizona

Target Commodity: Cu-Au-Ag

Partnership Status: BCE  wholly owned and available for partnership

Land Position: 293 acres; 16 U.S. unpatented lode mining claims

Property Location: Sunnyside area; Santa Cruz County, Arizona; Patagonia Mountains

·         High-grade copper-gold-silver skarn target located in historic mining district between Sunnyside porphyry copper system and Hardshell silver-copper-manganese replacement deposit (both with historic mineral resources defined by Asarco in 1970’s exploration)

·         Historic high-grade drill intercepts of polymetallic skarn in Paleozoic carbonate rocks along BCE property boundary

·         Significant thicknesses of silicified and altered Paleozoic carbonate section outcropping on BCE property, with series of faults stepping the unit up across BCE ground and presenting opportunity to test multiple prospective stratigraphic levels

·         BCE geochemical and structural interpretation defines property as key intermediate piece between drill-defined deep skarn environment and the shallow, distal styles of mineralization represented by Hardshell

Jasper Canyon, Arizona

Target Commodity: Cu(-Mo)

Partnership Status: BCE wholly owned and available for partnership

Land Position: ~3,186 acres; 160 U.S. unpatented lode mining claims

Property Location: Globe-Miami mining district; Gila County, Arizona, northwest end of Globe Hills

·         Supergene and hypogene porphyry copper-molybdenum mineralization targets in northeast portion of world-class multi-porphyry-center Globe-Miami mining district

·         Tertiary faults have dramatically dismembered and extended district — a cluster of large porphyry Cu(-Mo) systems centered on a Laramide-age granitic pluton

·         Fault-bound deposit pieces include: Pinto Valley, Cactus-Carlotta, Copper Cities, Miami-Inspiration, and Old Dominion (BHP, Quadra, Freeport-McMoRan, others)

·         Approximately 60% of district remains covered by post-mineral sedimentary and volcanic rocks

·         Multi-year district-scale structural reconstruction by BCE geologists has resulted in new understanding of district’s mineralizing systems, structure, and the location of several yet-undiscovered portions of the porphyry centers hidden beneath post-mineral cover rocks

·         Jasper Canyon targets are fault-displaced upper portion of productive porphyry center

·         Adjacent drill hole demonstrates BCE interpretation of shallow cover with porphyry related mineralization at depth

·         See also Copper Springs project description

Mesa Well, Arizona

Target Commodity: Cu(-Mo)

Partnership Status: BCE wholly owned and available for partnership

Land Position: 3,872 acres; seven Arizona Exploration Permits

Property Location: South of Klondike district; Graham County, Arizona; Pinaleño Mountains western flank

·         Property lies along regional trend of porphyry copper mineralization extending from Safford district (Freeport-McMoRan) to San Manuel district (BHP-Billiton)

·         Adjacent to Klondike district, a past producer of copper, lead and zinc mineralization from skarn and replacement deposits in limestones and porphyry-like occurrences

·         Tertiary faults identified across area have dismembered and extended a Laramide-aged intrusive complex, exposing a dike swarm adjacent to BCE property, tilting young sedimentary rocks to steep angles, and offsetting the deeper portion of system to area beneath BCE property position along low-angle fault

·         BCE geologists have constrained fault vector and offset, and interpret observed porphyry-related alteration, significant geochemical anomaly, and remobilized copper on Mesa Well project land interpreted to indicate location of productive portion of porphyry center beneath low-angle fault on BCE property

·         Preliminary 2008 drill results interpreted to be consistent with structural model; holes cased for continued drilling in 2009

Top of page

Earn-In Joint-Venture Agreement signed August 2009

Superior West, Arizona

Target Commodity: Cu-Au-Ag

Partnership Status: Major mining company earn-in joint-venture agreement

Land Position: ~5,195 acres; 256 U.S. unpatented lode mining claims, and 14 additional adjacent claims (280 acres) by option agreement

Property Location: Pioneer mining district; Pinal County, Arizona, approximately three miles west of Superior and 50 miles east of Phoenix

· District is setting of the Magma Vein (a copper-silver-gold vein that produced 25 million tons of ore with >4% Cu), and the giant Resolution Copper deposit (~1.3 billion tones containing 1.5% copper)

· BCE is targeting two styles mineralization at Superior West: (1) the faulted, displaced and concealed western extension of the Magma Vein, and (2), the yet-undiscovered porphyry copper system that served as the source for the Magma Vein

· Reinterpretation of district structure and mineral/metal zoning patterns by BCE geologists predict location of porphyry source beneath younger cover rocks on the BCE property position

Top of page

Option Agreement signed August 2009

Copper Springs, Arizona

Target Commodity: Cu(-Mo)

Partnership Status: Geo Minerals lease/option agreement

Land Position: 5,056 acres; 216 U.S. unpatented lode mining claims and one Arizona Mineral Exploration Permit

Property Location: Globe-Miami mining district; Gila County, Arizona, northeast of Pinal Mountains

Option Agreement signed August 2009

Silver Bell West, Arizona

Target Commodity: Cu

Partnership Status: Geo Minerals lease/option agreement

Land Position: ~3760 acres ; 188 U.S. unpatented lode mining claims

Property Location: Silver Bell mining district; Silver Bell Mountains, approximately 30 miles northwest of Tucson, Arizona

· Property immediately adjacent to operating Silver Bell Mine (a 75% / 25% Asarco/Mitsui partnership), which has produced more than 84 Mt at an average grade of 0.76 percent copper from skarn, secondary enrichment blankets and porphyry ores since the discovery of mineralization in 1865, and reports reserves greater than 185 Mt at 0.61 % Cu (Long, 1995)

· Multiple stratigraphic units favorable for development of skarn mineralization and porphyry-style copper mineralization are recognized within the BCE land position, where a series of normal faults have down-dropped target rocks and lie beneath younger cover

· BCE is currently targeting two areas for exploration:

(1)   Paleozoic carbonate units likely to host copper-rich skarn mineralization that underlie outcrops of copper-mineralized Laramide intrusive rocks and copper-gold mineralized Mesozoic sedimentary rocks in the contact aureole

(2)   Trends of porphyry copper and skarn mineralization that project beneath cover rocks

· Ten drill sites in have been permitted, and first-round drilling is scheduled to begin in 2009

Top of page

Option Agreement signed August 2009

Mineral Hill, Wyoming

Target Commodity: Cu-Au-Ag

Partnership Status: Golden Predator lease/option agreement

Land Position: ~1,117 acres; 60 U.S. unpatented lode mining claims (additional claims subject to pooling agreement with neighboring claimant not included)

Property Location: Mineral Hill/Hurricane gold mining district; Black Hills; Crook County, Wyoming

· Targets are epithermal-style gold deposits and porphyry copper-gold mineralization associated with a Eocene-aged alkaline igneous complex

· District mineralization provides evidence for multiple magmatic events, including the emplacement of a prominent central breccia pipe

· Intense hydrothermal alteration developed in portions of igneous complex along with gold-bearing quartz veins

· Placer gold deposits broadly developed in and around the Mineral Hill intrusive complex, and many historic mines and prospects are distributed throughout the district

· Drilling by BCE in late 2007 intercepted porphyry-style copper-gold mineralization in an area of stockwork K-silicate and quartz-sulfide veins

· Additional drilling slated for 2009 to better define zones of copper-gold mineralization

Top of page