TSX.V UNV

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2022 Proposed Work Program

Follow up on outstanding previously announced drill results from 2021 campaign with a drilling program on nine (9) high priority targets throughout the property

The Company is planning to drill on a further eighty (80) sites as the company continue to move the Poplar inferred resources to indicated resources forward and work at increasing resources to depth and to the west. The Company is reviewing exploration plans for the nine (9) high priority targets throughout the property for drilling.

Initiate systematic evaluation of historic core by Vector Geological Solutions for exploration targeting At Poplar Project

The Company has the engaged Vector Geological Solutions Inc. of North Vancouver, Canada to compile, review and re-interpret surface and subsurface exploration data collected between 2011 through 2021, and to execute a targeted re-logging program designed to enhance exploration drill targeting.

Poplar Project claims map

Project Overview

The Poplar Project spans 61,566 hectares and is bisected by a 138 Kva Hydro electric line, and accessible by road. The property is located in a historic mining region, 35km from the Huckleberry Mine and 42km from Equity Silver. The property is also accessible via rail – only 88km from Houston or 400km to the deep-water port at Prince Rupert. Typical snowfall consists of 150cm on an annual basis, making year-round work possible.

Project History

Initially discovered from outcrop exposure in the early 1970’s, the Poplar Project has seen multiple segments of historic exploration including 1974 to 1982, 1992, 2005, 2009 to 2013.

Historic exploration included:
  • Soil and till geochemical surveys
  • Ground magnetics and IP surveys
  • Airborne magnetics and electro-magnetic surveys
  • Diamond drilling: 39,648 meters in 147 holes in Poplar Deposit area resulted in calculation of historic resource
  • Additional 135 diamond or percussion holes totaling 6,817 meters over remaining property
  • 2004 Metallurgical Study – 93% Cu recovery, 81% Mo recovery

Historic Indicated Mineral Resource of 152.3 million tonnes grading 0.32 per cent copper (Cu), 0.009 per cent molybdenum (Mo), 0.09 gram per tonne gold (Au), and 2.58 g/t silver (Ag); and an undiluted Historic Inferred Mineral Resource of 139.3 million tonnes grading 0.29 per cent copper (Cu), 0.005 per cent molybdenum (Mo), 0.07 g/t gold (Au), and 4.95 g/t silver (Ag).

The technical report supporting the Mineral Resource Estimate can be found under the Universal Copper profile on SEDAR.

Poplar Project claims map

Historic Resource Estimate

Indicated Resource – Within Total Blocks
Cut-off Cu (%)
0.20
Million (tonnes)
131.2
Grade > Cut-off
Cu (%)
Mo (%)
Au (g/t)
Ag (g/t)
0.31
0.009
0.09
2.39
Contained Metal
Millions lbs of Cu
Millions lbs of Mo
Million ozs Au
Million ozs Ag
896.9
26.0
0.380
10.080
Inferred Resource – Within Total Blocks
Cut-off Cu (%)
0.20
Million (tonnes)
132.1
Grade > Cut-off
Cu (%)
Mo (%)
Au (g/t)
Ag (g/t)
0.27
0.005
0.07
3.75
Contained Metal
Millions lbs of Cu
Millions lbs of Mo
Million ozs Au
Million ozs Ag
786.3
13.1
0.300
15.920

These historical indicated and inferred resources were disclosed by Lions Gate Metals Inc. in its technical report dated March 30, 2012, prepared by Gary Giroux, P Eng. To determine the historical resource, a 3-D solid was constructed to constrain the mineralized area, using a 0.1-per-cent-copper-grade shell as a guide. Large internal waste zones were modelled as were some larger postmineral dikes. Of the total database, 129 drill holes totaling 37,205 m were within the mineralized zone and were used to estimate the resource. Drill holes were compared with the mineralized solid, and assays were tagged if inside. Copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.4 per cent Cu, 0.14 per cent Mo, 0.34 g/t Au and 41 g/t Ag, respectively. Five-metre composites were formed and used for variography. For this estimate and to aid with some preliminary planning, the blocks were reduced to five by five by 10 metres in dimension and were estimated for Cu, Mo, Au and Ag by ordinary kriging. The historical resource is classified as indicated and inferred based on each block's proximity to data and the grade continuity. The historical indicated and historical inferred resource uses the categories set out in Section 1.2 of National Instrument 43-101. Universal will need to review and verify the historical drilling database and twin a number of the existing drill holes to bring the historical resources current. Investors are cautioned a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and therefore Universal is not treating the historical estimate as current mineral resources or mineral reserves.

January 2019 Drill Results

Hole-ID M From M To M Interval % Cu % Mo g/t Au g/t Ag
18-PC-126 23.5 404.47 380.97 0.365 0.015 0.10 2.31
374.3 404.47 30.17 0.554 0.027 0.15 4.44
18-PC-127 5.5 270.36 264.86 0.421 0.013 0.10 2.63
24.40 78.00 53.60 0.552 0.025 0.14 1.73
51.00 78.00 27.00 0.643 0.030 0.15 2.62
18-PC-128 5 422.76 417.76 0.197 0.001 0.07 3.03
122.80 273.90 151.10 0.330 0.002 0.12 3.46
19-PC-129 48.8 538 489.2 0.362 0.012 0.11 2.22
143.18 538 394.82 0.413 0.013 0.12 2.27
48.8 143.18 94.38 0.152 0.008 0.04 2.06
143.18 230.36 87.18 0.259 0.011 0.08 2.12
230.36 487.97 257.61 0.488 0.016 0.14 2.42
487.97 538 50.03 0.324 0.002 0.12 1.92
Hole-ID18-PC-126
M From23.5
M To404.47
M Interval380.97
% Cu0.365
% Mo0.015
g/t Au0.10
g/t Ag2.31
Hole-ID18-PC-126
M From374.3
M To404.47
M Interval30.17
% Cu0.554
% Mo0.027
g/t Au0.15
g/t Ag4.44
Hole-ID18-PC-127
M From5.5
M To270.36
M Interval264.86
% Cu0.421
% Mo0.013
g/t Au0.10
g/t Ag2.63
Hole-ID18-PC-127
M From24.40
M To78.00
M Interval53.60
% Cu0.552
% Mo0.025
g/t Au0.14
g/t Ag1.73
Hole-ID18-PC-127
M From51.00
M To78.00
M Interval27.00
% Cu0.643
% Mo0.030
g/t Au0.15
g/t Ag2.62
Hole-ID18-PC-128
M From5
M To422.76
M Interval417.76
% Cu0.197
% Mo0.001
g/t Au0.07
g/t Ag3.03
Hole-ID18-PC-128
M From122.80
M To273.90
M Interval151.10
% Cu0.330
% Mo0.002
g/t Au0.12
g/t Ag3.46

January 2022 Drill Results

Hole-ID M From M To M Interval % Cu % Mo g/t Au g/t Ag
21-PC-132 5.65 192 186.35 0.436 0.019 0.1 1.72
21-PC-133 21.25 501 479.75 0.408 0.013 0.13 2.89
21-PC-134 247.25 315.5 68.25 0.655 0.016 0.167 2.92
Poplar Project Zones

Wide Historic Zones

Additional Historic Targets: Incredible Opportunity to Increase Tonnage Through New Discoveries

Dual Dilys

  • Quartz vein stockwork with chalcopyrite and minor molybdenite

Dual Con

  • Several periods of soil, IP
  • Strong porphyry alteration
  • Grab sample 0.55% Cu, 24 g/t Ag

Hill

  • Several periods of soil, IP
  • Strong porphyry alteration
  • 0.18% Cu over 2m drill hole

Ida

  • Extensive sulphide system
  • Disseminated chalcopyrite 0.01% to 0.61% Cu
  • 1973 14 holes defined area 120 by 275 m
  • averaging 0.16% Cu

Universal Copper has yet to verify historical information.

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