Cyprium Mining Corporation Management discussionCyprium Mining Corporation Management discussion for the three-month period ended March 31, 2016 12 SELECTED FINANCIAL INFORMATION Going concern assumption These unaudited interim condensed consolidated financial statements have been prepared based on the going concern assumption, meaning the Company will be able to realize its assets and discharge its liabilities in the normal course of operations. Given that the Company has not yet determined whether its mineral properties contain mineral deposits that are economically recoverable, the Company has not yet generated significant income nor cash flows from its operations. As at March 31, 2016, the Company has a deficit of $11,723,321 ($11,216,080 as at December 31, 2015) and a working capital deficiency of $6,050,085 (a working capital deficiency of $5,042,523 as at December 31, 2015). In addition, as mentioned in Note 17 and 19, the Company was not able to make its January 31, 2016 interest payment of $45,000 and the Company is in default pertaining to the US$303,000 and US$500,000 debentures, which expired in February 2016. The Company will require additional funding to be able to advance and retain mining rights interest and to meet ongoing requirements for general operations. These material uncertainties cast significant doubt regarding the Company’s ability to continue as a going concern.