CAMPBELL OPERATION TOUR

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CAMPBELL OPERATION TOUR
SEPT. 2007
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Building the Foundation for Growth

• Corporate Summary
• (as at Sept 17, 2007)
• Shares Outstanding 409.2 million
• Warrants 183.5 million
• Options 8.0 million
• Cash and Securities 1.5 million
• Debt (I Que. NWI/Ocean P.) 19.1 million
• Current Share Price 0.13
• Current Market Capitalization 53.2 million

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Corporate Structure
Building the Foundation for Growth
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Operations
Building the Foundation for Growth

• Campbell has a dominant position in the
  prolific Chibougamau mining camp with the Copper
  Rand Mill, one operating mine, two ongoing
  projects in development and 8 gold and copper
  properties
• Copper Rand Mill 3,000 tpd mill (gravimetric /
  flotation)
• Copper Rand Mine Copper and gold mine
• Corner Bay Project Development project
• Merrill Island Pit project Past producer with
  resource
• Joe Mann Mine Gold mine (care maintenance)
• Access to entire Chibougamau camp
• Experienced management and directors

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Building the Foundation for Growth

• Campbell position in the Chibougamau mining
  camp

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Copper Rand Mine
Building the Foundation for Growth

• Underground narrow-vein gold and copper mine
• Ground problems under control rehabilitation in
  2006 and early 2007
• By pass towards 4510 level completed
• Paste fill plant operational
• Alimak mining method being implemented
• Brought in through consulting agreement with
  Nuinsco Resources
• Actual ore supply from bloc 1 (4510 level)
  Other blocks in development
• Commercial production started Q1 2007
• Devlp. Headings towards East West on 4510
  levels.
• Decline progressing towards 4870 (depth
  extension)
• Dewatering / Rehabilitation of 3950 4030 levels
• Actual production rate 700 tpd Targeting 900
  tpd Q1 2008
• Substantial exploration upside at depth and on
  4,000 hectare property

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Copper Rand Mine
Building the Foundation for Growth

• Underground narrow-vein gold and copper mine
• Ground problems under control rehabilitation in
  2006 and early 2007
• By pass towards 4510 level completed
• Paste fill plant operational

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What is Alimak mining?
Building the Foundation for Growth

• Raise mining for steeply dipping ore bodies
• Raise driven up the ore along the hanging wall
• Hanging wall stabilized by ground supports
• Long hole drilling horizontally into ore
• Charging and blasting up the raise
• Backfill open stope to allow extraction of
  adjacent stopes
• Less development
• Quick access to undeveloped ore
• Better ground control
• Current mining method in Hemlo camp (Bell
  William mines)

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Copper Rand Mine
Building the Foundation for Growth

• Commercial production started Q1 2007
• Devlp. Headings towards East West on 4510
  levels.
• Decline progressing towards 4870 (depth
  extension)
• Dewatering / Rehabilitation of 3950 4030 levels
• Actual production rate 700 tpd Targeting 900
  tpd Q1 2008

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Copper Rand Mine
Building the Foundation for Growth
DECEMBER 2006

• Substantial exploration upside at depth and on
  4,000 hectare property

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Corner Bay Project
Building the Foundation for Growth

• High-grade, near surface copper resource
• 15 million capital invest
• Portal excavated in Q4-2006
• Site prep. ramp devlp. began in Q2 2007
• Flow through eligible
• Planned 42,000 tonne bulk sample grading 3.7
  copper
• Upside at depth (9 copper over 6.0 metres
  intersected at 1,300 metres depth)

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Building the Foundation for Growth
Corner Bay Project
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Building the Foundation for Growth
Corner Bay Project
ESTIMATED MINERAL RESOURCES(Diluted to 1.6 m
minimum vein width)
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Corner Bay Project
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Merrill Island Mine
Building the Foundation for Growth

• Past-producing open pit copper mine
• - (8,57 Mi t. _at_ 1,79 Cu, 0,022 opt Au)
• Located in the Chibougamau mining camp,
  approximately 5 km from Campbells Copper Rand
  Mill
• Receive required government permit (August 25th
  2007)
• Begin operations at Merrill Island pit in Q3-2007
• Historical measured inferred resources
• - 1.1 million tons at grade of 0.9 Cu
• - 0.9 million grading 0.6 Cu

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Merrill Island Mine
Building the Foundation for Growth
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Building the Foundation for Growth
Merrill Island Mine
HISTORICAL PRODUCTION (1954-1981)
HISTORICAL PRODUCTION (1954-1981)
HISTORIAL RESOURCES
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Joe Mann Mine
Building the Foundation for Growth

• Underground gold mine 30 years production
  (5,242 Mi t. _at_ 0,239 opt Au)
• Located approximately 65 km south of Copper Rand
  Mill
• 490 hectare property
• Production ceased August 2007
• Actual status Care maintenance

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Joe Mann Mine
Building the Foundation for Growth

• Deep drilling program to test ore body extension
  (scheduled for October -2007)

Deep Drilling Program Targets 1,500 to 2,000
feet below level 3450
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Environment
Building the Foundation for Growth

• Operation expenses for 2007 0,480 Mi
• Reclamation Fund 3,3 Mi.
• Safety deposit to Quebec Government 2,3 Mi
• Land reclamation program for 2007 0,3 Mi

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Building the Foundation for Growth
2008 2009 Forecast
Assumes Copper price of 3.25/lb and gold price
of 650/Oz in 2007, Cu at 3.00 and Au at 575
in 2008, Cu at 2.50 and Au at 575 in 2009 Can
1.10
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Building the Foundation for Growth
Assumes Copper price of 3.25/lb and gold price
of 650/Oz in 2007, Cu at 3.00 and Au at 575
in 2008, Cu at 2.50 and Au at 575 in 2009 Can
1.10
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Building the Foundation for Growth
Assumes Copper price of 3.25/lb and gold price
of 650/Oz in 2007, Cu at 3.00 and Au at 575
in 2008, Cu at 2.50 and Au at 575 in 2009 Can
1.10
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2006 Milestones
Building the Foundation for Growth

• Completed three equity financings totaling 18.1
  million
• Pro forma Working capital increased by 26.2
  million
• Operating Consulting Agreement signed with
  Nuinsco Resources for Chibougamau operations
• Repaid 4.0 million of secured debt
• Identified Merrill Island property for potential
  early copper production
• Recommendation to extract 42,000 tonne bulk
  sample grading 3.7 copper at Corner Bay

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2007-2008 Objective and Strategy
Building the Foundation for Growth

• Objective Maximize Copper Rand mill throughput
  to increase production, lower costs and
  capitalize on robust metals markets
• Strategies
• Commence development high-grade Corner Bay
  deposit for production in Q2-2008
• Commence and consolidate commercial production at
  Copper Rand
• Begin production from Merrill Island pit
• Deep drilling program at Joe Mann to add reserves
  and develop new production faces
• Leverage dominant position in Chibougamau camp by
  taking advantage of regional opportunities

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Management Team
Building the Foundation for Growth

• FORTIER, AndréPresident and Chief Executive
  Officer
• BLAIS, AlainVice-President, General Manager of
  Operations
• SAVOIE, RéalVice-President, Finance
• BLOUIN, MichelCorporate Secretary

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Board of Directors
Building the Foundation for Growth

• ARCHAMBAULT, LouisPresident, Groupe conseil
  Entraco inc.Montréal
• BLOUIN, MichelPartner, Lavery de BillyMontréal
• CLOW, Graham G.Principal and member of the Board
  of Directors, Scott Wilson GroupToronto
• FORTIER, André Y.President and Chief Executive
  Officer, Campbell Resources Inc.Montréal
• GALIPEAU, RenéCEO and Vice-chairman of Nuinsco
  Resources Ltd.Toronto

HOLMES, W. WarrenChairman of Nuinsco Resources
Ltd.Toronto McCARTNEY, James C.Partner,
McCarthy Tétrault, and Chairman of the Board of
DirectorsToronto PRALLE, G.E. Kurt
Consultant, Mining and MetallurgyNew-Jersey RA
YMOND, James D.Private InvestorMontréal
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