VMS Ventures Inc.

Recent drill results include 6.69% copper over 71.69 metres and 3.74% copper over 21.77 metres from in-fill diamond drill holes at the Reed Lake Joint Venture (Hudbay HBM:TSX) Property. The company has a dominant land position in the prolific Flin Flon-Snow Lake VMS mining belt. VMS Ventures is well financed with over $11.9 million in cash equivalents.

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Reed Copper Mine Cash Flows

VMS Ventures Inc.

over 10 years ago

The high grade nature of the Reed Copper deposit gives the project substantial leverage to copper prices. The following outlines VMS Ventures (30% share) of the copper price sensitivity to pretax Cash Flow (Based on PFS scenario).

Prices

Copper (USS/lb) $3.00 $3.30 $3.50 $4.00

Cash Flow $29,530,000 $44,278,000 $54,110,000 $78,691,000

Pre-tax