MOD Resources Ltd. has announced compelling results of the completed Feasibility Study (FS) for the T3 Copper Project which includes a proposed 11.5-year open pit mine, 3Mtpa conventional processing plant and all associated infrastructure. The T3 Copper Project Feasibility Study is modelled on the T3 Ore Reserve as announced on 25 March 2019. MOD's 100% owned T3 Project is a significant new sediment hosted copper and silver deposit in the under-explored Kalahari Copper Belt in Botswana. Over the past three years the Company has progressed T3 from the discovery drill hole, announced in March 2016, to completion of a FS. The FS has demonstrated the opportunity to develop a copper mine that is expected to generate revenue of USD 2.3 billion at a margin of over 47% across the 11.5-year mine life using a long-term consensus copper price of $3.08/lb. The T3 Project is based on the T3 Resource, announced on 16 July 2018, and the T3 open pit is modelled on the T3 Ore Reserve announced 25 March 2019. The FS identified that the T3 Copper Project is underpinned by strong fundamentals including an LOM average copper grade of 1.0%, an orebody geometry that facilitates a simple, six-stage open pit design and metallurgy that requires a relatively moderate capital investment, producing high grade copper concentrates with an average copper grade of 30.4%. This premium grade concentrate contains minimal deleterious elements, presenting an opportunity to blend and improve lower quality smelter feedstock, which has generated significant interest from numerous metal traders and smelters. The proposed six stage open pit (Figure 1) will utilise conventional equipment to support an average annual mining rate of 3.0Mtpa of ore with a LOM strip ratio of 5.7 to 1. Pre-strip activities are expected to commence during the first half of 2020 and ore from the first stage of the open pit is targeted to be processed during the first quarter of 2021. The bulk of waste movement is expected between 2020 and 2024 resulting in a higher strip ratio during these early years. Following this, the strip ratio will reduce to an average of 2 to 1 and mining costs should follow this general downward trend. The open pit is located less than 1 kilometre from the process plant. Ore will be either directly fed into the primary crusher or directed to a Run of Mine ("ROM") stockpile, providing surge capacity and opportunity for ore blending. The T3 orebody is comprised of metallurgically favourable chalcopyrite, bornite and chalcocite. Ore will be processed through a conventional process plant with an annual throughput of up to 3.2 million tonnes at a head grade of 1.0% copper and 13.2g/t silver. The flow sheet (Figure 10) includes a primary crusher /SAG /Ball mill comminution circuit to achieve a grind size of P80 180µm, a natural pH flotation circuit, rougher flotation with a regrind circuit to achieve a grind size of P80 90µm and a cleaner flotation circuit. LOM metallurgical recoveries are 92.9% copper and 88.0% silver, producing a concentrate with grades that peak at 34.7% Cu and 601 g/t Ag, averaging 30.4% Cu and 383 g/t Ag. The Project Execution Schedule defines a 19-month design, construction and commissioning timeframe targeting first concentrate production before the end of the first quarter of 2021. Average annual production over the life of mine is expected to be ~28kt of copper and 1.1Moz of silver however for the first seven full years of production (between 2021 and 2028), plant throughput, feed grades and recoveries are expected to be higher than LOM average and support copper production averaging over 30kt. All-In Sustaining Costs over the life of mine are highly dependent on mining costs and waste movement. Over the life of mine, average AISC are expected to be in the lowest quartile of the cost curve at a very competitive $1.56 per pound of copper produced, after silver credits. The estimated direct capital cost for the process plant is USD 49 million. Project indirect costs, including engineering, procurement and construction costs, are estimated at USD 32 million. Site infrastructure costs, which include site preparation, a 14 km all-weather unsealed access road to the A3 highway, the expansion to a 400-person accommodation camp in Ghanzi and administration buildings are estimated at USD 23 million. The current estimated direct and indirect capital cost for the establishment of the mine, the construction of the process plant and associated infrastructure is USD 142 million (excluding mining pre-strip costs).