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P E BB L E PRO J E C T NE W S L ETTER

March 2010

Table of Contents INSIDE Minor Miners Mining Education Pebble Fund Myth Busting Environment Matters Pebble Milestones

Updated Estimate for Pebble Prospect An analysis of the Pebble Limited Partnership’s drilling program at the Pebble prospect from 2008 and 2009, and revised economic parameters, have resulted in an improved mineral resource estimate for the Pebble Project. The Pebble prospect contains one of the most significant mineral discoveries of copper in North America, as well as natural resources molybdenum and gold. Copper is one of the most important elements in green technology developments and is predominate in modern products such as cell phones, computers, plumbing and more. Molybdenum is used in a variety of machinery products, particularly to alloy steel. Molybdenum is also prominently used in ski wax.

All materials are transported by helicopter to the Pebble Project site.

Pebble Partnership Invests in 2010 its active environmental baseline collection studies and site operations for the drilling program. “We are pleased to be continuing our work program in Iliamna, as that is where local benefits really manifest via direct hire and working relationships with area businesses,” said John Shively, PLP CEO. “Our goal remains to develop a technically feasible, economically viable and environmentally responsible plan for developing the Pebble deposit. This will present Alaskans with a clear understanding as to the opportunity that Pebble could present for the region and for the state.” Achieving a minimal environmental footprint is an on-going effort.

The Pebble Limited Partnership (PLP) will invest up to $72.9 million in Alaska in 2010 as part of its ongoing effort to advance the Pebble Project toward permitting. PLP’s objectives include advancing a Prefeasibility Study (PFS) and continuing

Additional efforts in 2010 will include completion of a workforce development plan and continuation of the Driller Apprenticeship Program initiated in 2009 to help local and regional workers become certified drillers. PLP has reinvigorated its scholarship program for Southwest Alaska and will continue its support of (continued on Page 2)

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Minor Miners

Mining Education The Pebble Partnership reaches out to Alaska’s youth to educate and explain modern mining technologies through presentations at elementary, middle and high schools, as well as after-school organizations throughout the state. Topics cover a wide variety of subjects, such as geology, Alaska studies, economics, (continued on Page 3)

Future miners learn about geology.

Alaska Resource Education Center hosted a dozen future miners at the 2009 Alaska Mining Association Conference at the Sheraton Anchorage Hotel. Students learned about mining careers and had the opportunity to interview 10 panelists from various natural resource industries. Students also played “Stump the Geologist,” learning about rock characteristics, mineral use and the importance of minerals in daily life from Pebble Partnership geologist Cassady Harraden. Of particular interest to the young miners was the dominant use of copper in products they use every day, such as cell phones, computers and machinery used to manufacture cars. Students also showed a keen interest in learning how minerals, such as copper and molybdenum, relate to the development of green technologies, such as wind turbines, and the development of new telemedicine technologies and procedures.

Pebble Partnership representatives spent an afternoon at a Wasilla elementary school teaching 65 fourth-graders about mining in Alaska. Student Caleb Covington’s drawing depicts what he learned.

Pebble Partnership Invests in 2010

Employment opportunities provide diversity, training and education. (continued from Page 1)

the Alaska Native Science and Engineering Program (ANSEP) at the University of Alaska with a focus on helping students from the region. PLP anticipates beginning its summer drilling program in May, pending approval of permits from the state of Alaska. Site operations contract services from five local village corporations for activities including emergency medical technicians, bear guards, driller’s helpers, surveyors and aviation services.

“There are two key documents that stakeholders should anticipate for review in advance of permitting,” Shively says. “First is the Environmental Baseline Document (EBD), which will compile data and analysis from five years of environmental studies. Second is PLP’s preliminary development plan, which will be shared with regional stakeholders in advance of filing for permits. Both are essential for advancing the project into permitting.”


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environmental sciences, engineering and natural resource industry careers. Some classrooms conduct exploration projects, such as “Mine a Cookie.” Students are eager to learn about the mining industry and not afraid ask good questions about the process, risks and value, as well as being curious about mining techniques. Presenters also often provide a general overview of the three stages of modern mining:

Busting!

• Exploration • Development - Environmental Studies - Permitting Applications - Public Review • Production/Operations/Reclamation

FICTION

“Pebble will be the largest copper and gold mine in North America.”

FACT

To request a presentation and discuss topic options tailored to classroom requirements and interests, e-mail Heidi Franklin at heidifranklin@pebblepartnership.com.

Pebble Fund Supports Community Development

There is currently no mine plan for Pebble. Until there is a Pebble plan, statements circulating in the public arena describing its specific size are speculative and misleading. A team of expert scientists are currently gathering baseline data that will guide a proposed mine plan. Once a future proposed mine plan is developed, it will be made available for public review, comment and discussion.

Naknek’s Boys & Girls Club provides an active after-school environment.

The Pebble Fund has distributed $1.6 million to Southwest Alaska communities since its inception in 2008. Administered by the Alaska Communty Foundation, a wide range of projects have been reviewed by the independent board of directors. The next grant application review cycle closes Aug. 27, 2010.

machine to the senior bus for access to village activities. Previous transportation was a challenge for seniors, especially during cold winter months, generally taking place by four-wheeler or not at all. The transport van will also be used for medical emergencies, accommodating a stretcher in the back.

Recreation; and The Arts — the Clubhouse is staffed by an engaging team of educators who help mentor youth. Programs include Project Learn, an after-school homework help and readiness program; and SMART MOVES (Skills, Mastery and Resistance Training), which helps kids make the right choices to combat drug and alcohol abuse.

Thanks to a Pebble Fund grant, Elders and medical patients from the City of Aleknagik now have access to a new transport vehicle, which will be used Mondays and Fridays to pick up senior riders for transport to the dock where they are then transported by skiff or snow

The City of Naknek’s Katmai Boys & Girls Club Clubhouse received a face-lift through a Pebble Fund grant. Structured on the Boys & Girls Clubs of America five core areas – Character & Leadership; Health & Life Skills; Education & Career Development; Sports, Fitness &

For a complete list of 2009 grant recipients and for applicant information, visit www.alaskacf.org.

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3201 C Street, Suite 604 Anchorage, AK USA 99503 (907) 339-2600 Toll-free: 1 (877) 450-2600 www.pebblepartnership.com

Environment Matters The Pebble Partnership is producing an Environmental Baseline Document (EBD) in 2010, based on the scientific research and data accumulated in the field since 2004. Environmental baseline research under way as part of the Pebble Project represents one of the most comprehensive collections of scientific data ever compiled in Alaska for a mining project. The EBD is part of the NEPA process (National Environmental Policy Act), which requires that federal agencies consider environmental impacts of a project and provide reasonable alternatives for consideration as part of the review process. The NEPA process provides extensive opportunity for public comment and is expected to last three years. Geologists determine locations via GPS coordinates.

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Peb-0194 2010 Newsletter March