Minto Metals announces Record Copper Production for the First Quarter of FY2022

WHITEHORSE, April 6, 2022 - Minto Metals Corp. ("Minto" or the "Company") is pleased to announce the Company's first quarter ("Quarter 1, 2022") production results from the Minto Mine located within the Selkirk First Nation's Territory in the central Yukon, Canada. Payable copper production in Quarter 1, 2022 increased 70.7% over Quarter 1, 2021 for a record 9.1 million pounds.

First Quarter Highlights:

• Copper payable sales increased 70.7% to 9.1 million pounds compared to 5.3 million pounds in Quarter 1, 2021.
• Improved operating results for Quarter 1, 2022:
• • Ore tonnes produced was 238,979 dry metric tonnes (dmt), a 37.0% increase from the 174,432 dry metric tonnes (dmt) produced in Quarter 1, 2021.
  • Mill Feed was 237,239 dry metric tonnes (dmt), an 11.7% increase from the 212,329 dry metric tonnes (dmt) processed in Quarter 1, 2021.
  • Overall Head Grade was significantly higher at 1.8% Copper when compared to the 1.2% Copper realized in Quarter 1, 2021.

"After a challenging start in 2021, the team has shown tremendous perseverance and has now put together 5 months in a row of strong operating results as we carried our momentum from November and December 2021 into the first quarter of 2022," stated Chris Stewart, President & CEO of Minto Metals.

"We eliminated our underground mine contractor and started to self perform mining operations for the first time in Minto's history in January 2022. This transition combined with Covid-19 caused some manpower challenges for us in January but we worked through that and delivered a record quarter of production hitting our copper pound targets in January and February and then finished up in March with our best results ever. We delivered 3,101 tonnes/day of ore safely to surface and produced 3.3 million pounds of payable copper compared to a budget of 2,900 tonnes/day and 2.4 million pounds respectively. These are wonderful results and a credit to the hard work and dedication of all Minto employees." Mr. Stewart continued, "I am extremely proud of our team."

Minto Metals plans to release its full QTR 1 2022 financial results at the end of May.

About Minto Metals Corp.

Minto operates the producing Minto mine located in the Minto Copper Belt, Yukon. The Minto mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine. The current mine operations are based on underground mining, a process plant to produce high-grade copper, gold, and silver concentrate, and all supporting infrastructure associated with a remote location in Yukon. The Minto property is located west of the Yukon River, about 20 km WNW of Minto Landing, the latter on the east side of the river, and approximately 250 road-km north of the City of Whitehorse, the capital city of Yukon.

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For further information:

David J. Birch,
Chief Financial Officer
(416) 895-4824
E-mail: info@mintomine.com

Chris Stewart,
President & Chief Operating Officer
(647) 523-6618

SOURCE Minto Metals Corp.