Virgin Metals Inc.

10 King Street East, Suite 501
Toronto, Ontario, Canada
M5C 1C3
Tel: 416.363.1210  Fax:416.603.8368
Web: www.virginmetals.com

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Share Structure as of: December 31, 2012
Issued & Outstanding: 43,174,318
Fully Diluted Shares: 66,470,270

Chris Frostad
President & CEO
Virgin Metals Inc.
416.363.1210
cfrostad@virginmetals.com

Jeanny So
Director of Operations
CHF Investor Relations
416.868.1079 x 225
jeanny@chfir.com

Content last updated on 01.30.13

Based out of Toronto, Canada, Virgin Metals Inc. (TSXV: VGM) is an exploration and development company advancing copper focused projects in Sonora State, Mexico, by systematically exploring and developing the Company’s primary assets: the Los Verdes and Cuatro Hermanos deposits. The current focus is to update the Los Verdes Pre-Feasibility study while increasing the M+I resources in the Company’s portfolio. Long‐term, Virgin Metals seeks to develop one or more profitable operating copper mines in Mexico.

Read Virgin Metal's Article in CHF Spotlight, Issue No. 67

Read Virgin Metal's Article in CHF Spotlight, Issue No. 72

Virgin Metals’ successful exploration programs have led the Company to pre-feasibility stage at its Los Verdes/Potreritos copper-dominated property in Mexico.

Construction work could start at the end of 2013, following the completion of a pre-feasibility study.

The Preliminary Economic Assessment (PEA) for Los Verdes reports the following:

• Capital costs: $107 million
• Pre-Tax net cash flow: $163 million
• NPV (discount at 5%): $113 million
• IRR: 34%
• Mine life: 7 years
• Payback period: 2.7 years

The open pit mine would produce 3,000 tonnes per day at cash costs of $0.73/lb CuEq, assuming a metallurgic recovery rate of 85% for copper/molybdenum/silver.

Further expansion of resources provides for upside and potential to extend the mine’s life.

Los Verdes - 100%-owned, Near‐Production

The Los Verdes/Potreritos project is made up of 17 titled exploration concessions covering 6,629 hectares. It lies within what could be considered the southerly extension of the Basin and Range Province of the southwestern USA, near the boundary with the Sierra Madre Occidental Province of Mexico. The Los Verdes resource comprises a compact zone of molybdenum, copper, silver and tungsten mineralization located at the crest of a steep ridge. The geometry of the deposit is ideal for low cost open pit mining.

2012 Preliminary Economic Assessment:
PROJECT ECONOMICS
Pre-Tax Net Cash Flows $163,000,000
Net Present Value (5%) $113,000,000
Internal Rate of Return 34%
Mine Life 7 years
Payback 2.7 years
 

PROVEN & PROBABLE RESERVES (Updated Feb. 2011)
(non-oxide) 7,000,000 tonnes
Contained Copper 103,000,000 lb @ 0.67%
Contained Molybdenum 20,000,000 lb @ 0.13%
Contained Silver 1,090,000 oz @ 4.85 g/t
Contained Tungsten 8,000,000 lb @ 0.08%
 

COPPER EQUIVALENT ORE GRADE 1.70% CUEQ
Metal Prices Used:
Copper $2.50/lb
Molybdenum $15.00/lb
Silver $20.00/oz
Tungsten $7.20/lb

Cuatro Hermanos - 100% Owned, NI 43-101 Defined Resource

The Cuatro Hermanos property hosts a large Cu-Mo porphyry complex with multiple mineralized centres, and outstanding potential. Drilling on one target resulted in a NI 43-101 compliant Indicated resource of 206 million tonnes grading 0.20% Cu and 0.02% Mo to contain 896 million pounds of Cu and 95 million pounds Mo, along with an Inferred resource of 557 million tonnes grading 0.17% Cu and 0.02% Mo to  contain 2,141 million pounds of Cu and 278 million pounds of Mo.

Virgin Metals Inc. holds 100% of the title to mineral properties at Cuatro Hermanos and San Lorenzo to the SW. These two properties make up 10 mining concessions totalling 8,125 hectares located in southeast Sonora, on the western flank of the Sierra Madre mountains.

CUATRO HERMANOS
NI 43-101 Resources
(Chlumsky, Armbrust & Meyer, LLC - Sep. 2008)
RESOURCES              INFERRED            INDICATED
(cut-off 0.25% Cu)
Tonnes                        557 Million             206 Million
Copper grade             0.174% Cu             0.197% Cu
Molybdenum grade     0.022% Mo            0.021% Mo
Silver (add’l credits)    1.1 g/t Ag               1.5 g/t Ag
Copper equivalent*     0.4% CuEq            0.407% CuEq
Contained Cu:            2.1 B lb                  896 M lb
Contained Mo:            278 M lb                96 M lb
*CuEq as 10:1 molybdenum to copper ratio.

CHRIS FROSTAD, BBA, CA President & CEO, 30 years’ experience with public and private companies. Chris is also the CEO of Purepoint Uranium Group Inc. (TSXV: PTU).

DARREN KONINGEN, P.ENG VP Technical Services and Director, former VP Project Development for Castle Gold.

FEDERICO ALVAREZ, VP Project Development, former VP Operations for Argonaut Gold Inc. (bought Castle Gold).

MIGUEL CARDONA, Senior Geologist, previous Exploration Manager for Castle Gold.