Overview: The Bear Deposit

The Bear deposit is a large porphyry copper system that remains unconstrained by drilling located beneath and adjacent to the Yerington Mine site. Although the Bear Deposit does not contain NI 43-101-compliant resources at this time, historical drilling has indicated a large area of copper mineralization that will require systematic drilling and evaluation.

Project Description

The Bear deposit is a large porphyry copper system that was discovered and partially delineated by in the 1960s and 1970s by previous mining companies. The deposit is open in several directions and has never been consolidated under a single owner. The Company has data from 49 drill holes totaling 126,400 feet that defines a system covering an area of at least 2 square miles. The portion of the deposit drilled by Anaconda in the 1960s covered approximately 25% of this area and has an historic resource of more than 500MT at 0.40% copper grade (Dilles and Proffett, 1995).

The Bear project is a high priority because of its large size, historic drilling and potential for higher grades than district averages. Previous drilling suggests the deposit remains open in several directions. Molybdenum, although analyzed on only about 20% of core samples, is potentially a significant by-product credit.

Cautionary Note: The Bear tonnage and grade estimates are historic in nature. A qualified person has not done sufficient work to classify these historic estimates as a current mineral resource and Quaterra does not treat them as such. In order to do so, they will have to be confirmed by additional drilling.