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Press Release

• 2016-09-21
Carube Copper to Acquire OZ Minerals’ Jamaican Copper-Gold Properties

1000 km² of Copper-Gold Projects

in Jamaica and Canada

Carube Copper Corp. has six wholly owned copper and gold exploration permits in Jamaica totalling 260 square kilometres. It also has a heads of agreement with OZ Minerals to acquire five SEPLs in Jamaica totalling 298 square kilometres. Carube Copper also has 3 porphyry related projects in British Columbia, Canada totalling 469 square kilometres. As an early explorer in Jamaica’s copper-gold rich terrain and a pioneer in an area of BC’s Cascade Magmatic Arc, now recognized for its mineral potential, Carube has a tremendous opportunity to create shareholder value through discovery of new porphyry copper-gold deposits.

Corporate Strategy

• Primary strategy is to benefit from partner funding to advance our properties.
  • Eleven licences in Jamaica with well over $14M spent on exploration in the last several years. Many drill ready targets available on projects ready for Joint Venture
  • Excellent potential to move large early stage projects in B.C. to joint-venture-ready stage. Work is now being completed to achieve this end.
• Looking forward, we will monitor favourable jurisdictions — primarily in Canada and the Caribbean — for opportunistic acquisitions. A particular focus will be on properties in Jamaica adjacent to our present projects. We plan to advance these properties to joint-venture-ready stage.

Our goal is to increase corporate value with minimal shareholder dilution.

Overview

• Six licences in Jamaica comprising 260 square kilometres of mineral rights with the greatest potential for economic copper-gold mineralization in that country.
• Additional five licences for a total of 298 square kilometres to be acquired from OZ Minerals
• OZ Minerals has recently spent $12M at Bellas Gate and over $0.5M at Above Rocks.
• Carube plans to benefit from partner funding on its three copper-gold-moly projects in British Columbia.

Large 100% Owned Portfolio of Copper and Gold Projects in Jamaica

• Bellas Gate, eight identified copper gold porphyry systems, some with only one drill hole. Multitude of drill targets to be tested.
• Above Rocks, Four target areas identified, only one drill tested.
• Main Ridge, adjacent to former gold mine, identified 2 km long gold zone. New zone identified with high copper gold porphyry potential.
• Airborne Magnetics and Radiometrics completed on all licences in Jamaica
• Over $14M exploration database

Mining in Jamaica

• The mining industry is well developed in Jamaica due to a thriving bauxite industry and, along with tourism, is one of the two largest contributors to the Jamaican tax base.

Miocene Aged Copper Gold Porphyry Projects in Southwest British Columbia

Rogers Creek

• Evidence for a large mineralized porphyry style system defined within a six by two kilometre area
• Initial drilling has intersected minor copper-gold mineralization with best results at the northern edge of this area
• Next program is focused on tracing mineralized system to north and evaluating the southern mineralized zone.

Mackenzie

• 7.5km long trend of bornite-chalcocite-magnetite occurrences discovered on western part of property
• Property is located adjacent to Amarc Resources "IKE" discovery - 248.7m of 0.28% Cu