Mercator Minerals Ltd MLKKF

Ore Grade Material

[24~Karat]

In order to help clarify a concern raised by Aiminvestor about the possibility of ML experiencing similar grade problems in its molybdenum mineralization as the Mission Mine, there is no need to worry about this. About two years ago, Nagyonokos posted this comment from Ted Slanker of the Slanker Report, whom I regard as one of the foremost authorities on Mercator Minerals. Note, in particular, his comment about the quality of the ore grade material. It is simply phenomenal. In my opinion, when Derek Raphael & Co. Ltd (the world’s largest trader of Molybdenum concentrates) announced its offtake agreement with Mercator Minerals, they knew precisely what quality they could expect from Mineral Park’s ore grade material. Here, then , is that quote from Ted Slanker, that was posted in 2005: “ Mineral Park used to be a molybdenum mine! At that time it had a 15,000 ton per day mill on site and the operating company had plans for expanding to 30,000 tons per day. But the moly price collapsed and Mineral Park became only a copper mine and the mill that was there was torn down. What's so exciting is that the ore grade moly material was about twice the grade of the highest grade moly mine in the United States. In other words, we don't know what ML is worth anymore until after they evaluate the moly potential. It may make the copper numbers look puny.”