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INVESTOR PRESENTATION January 2014

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INVESTOR PRESENTATION

January 2014

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Forward Looking Statement

Except for historical information contained herein, this presentation may contain forward-looking statements including but not limited to comments regarding predictions and projections.

Forward-looking statements address future events and conditions and

therefore involve inherent risks and uncertainties. Although MAG copper believes that such expectations are reasonable, there can be no assurance that such expectations will prove to be correct, and therefore actual results may differ materially from those currently anticipated in such statements. You are cautioned not to place undue reliance on any such forward looking statements, whether made in this presentation or in any question and answer period related to this presentation. The historical resource estimates

presented herein were completed prior to the implementation of the NI 43-101 requirements. Hence, the historical estimates should not be relied upon.

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Why Mag Copper?

Production in 9 to 12 months post

closing of conditional financing

The Company wishes to make clear that it will not be basing any production decision on a preliminary economic assessment demonstrating the potential viability of mineral resources or a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there is increased uncertainty and multiple technical and economic risks of failure which are associated with any production decision.

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Introduction

• Focused on near term production potential/exploration/ development of historic Brownfield resources • Acquired 100% title to the Magusi

River copper/zinc deposit located near Rouyn, Quebec in spring/2011 • Experienced mine development and

exploration team

• Intends to commence production at Fabie Bay/Magusi within 9 to 12 months

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Magusi Deposit

• 40 km north of Rouyn- Noranda, Quebec via an all weather road

• In the Noranda Complex in the Abitibi Greenstone Belt, between Porcupine Destor Fault to the North, Cadillac Larder Break to the South and the Noranda camp to the east.

NI 43 – 101 Indicated and Inferred resource estimate

• 2 km mineralized corridor, between Magusi deposit and Fabie Bay Mine (in production in 2008)

• Prior site expenditures will reduce lead time and capital requirements for near term production

• Significant exploration upside along strike, and at depth.

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Magusi 2012 Diamond Drilling Targets

Target 3

Sulphide stringer zone Historic intercept

Of 1.5m Massive Sulphide No other data available.

Target 2

Explore/Identify Mag Anomaly along Magusi’s Western claim boundary

Target 1

Increase volume/tonnage of East Block

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Magusi Deposit

Target 1

Increase Inferred Resource

Stringer Zone (target2)

Magnetic Anomaly (target3) along Western Magusi Mineralized corridor

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Magusi Infrastructure

• Portal at Magusi collared and 500 linear meters of Ramp development.

• Hydro lines in place and charged

• Settling ponds are built and Certificate of Approval granted. • Roads in and around site are in good condition.

• Core shack and lay down for racks are ready for new drill program. • Skilled Local workforce available from Rouyn- Noranda

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Magusi Project Exploration 2012

• 4,591 meter drilling program in 13 holes completed during 2012

– Objective to increase the resources for the Magusi deposit.

• Additional Spring/Summer 2014 drilling program is

planned to extend ore zones at depth and along strike

– Objective to increase the

Inferred and Indicated resource and explore along 2.2 km of known mining corridor

• Perform down hole IP survey to explore zones along strike

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Indicated Resource of the Magusi Deposit

ZONE ORE TYPE TONNES Cu% Zn% Ag g/t Au g/t

MAIN HG/Cu 729,000 3.26 0.518 43.1 0.41

MAIN HG/Zn 580,000 0.39 8.57 42.1 2.34

TOTAL --- 1,309,000 1.99 4.21 42.8 1.27

Inferred Resource of the Magusi Deposit

ZONE ORE TYPE TONNES Cu% Zn% Ag g/t Au g/t

MAIN HG/Cu 355,000 3.41 0.39 24.2 0.26

TOTAL --- 355,000 3.41 0.39 24.2 0.26

Drill plan could significantly increase these numbers

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Assumptions – Conservative Commodity Price Scenario

Life of mine - 7 years

Based on existing Inferred and

Indicated resource at Magusi and Fabie Bay

Project Economics for Magusi & Fabie

Magusi & Fabie Mine

Life of Mine Revenue

$389,214,133

Mine Development Costs

Total Mining Production Costs

$9,300,000

$307,961,000

Total Production Costs

$317,261,000

Life of Mine Net Cashflow After

3% Royalty and Debt Repayment

$51,276,709

Cu $2.80 Zn $0.70

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Assumptions – Today’s Commodity Price Scenario

Life of Mine - 7 years

Based on existing Inferred and

Indicated Resource at Magusi and Fabie Bay

Project Economics for Magusi & Fabie

Magusi & Fabie Mine

Life of Mine Revenues

$447,047,495

Mine Development Costs

Total Mining Production Costs

$ 9,300,000

$310,397,000

Total Project Costs

$319,697,000

Life of Mine Net Cashflow - After

3% Royalty and Debt Repayment

$104,939,070

Cu $3.24 Zn $0.84 Ag $20.15 Au $1,304.10

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Fabie Bay Project

• 100% owned property

• Lies in the same geological setting as the Magusi

• Historic Production (Nov 2007 to Jan 2009) 494,000 tonnes @ average grade of 2.51% Cu • Historic resource of ~406,000

@ average grade of 2.5% Cu and 8.57g/t Ag remains

• Cu was transported and milled at Xstrata’s mill in

Rouyn-Noranda

• Exploration drilling is planned along 2 km corridor between the Fabie Bay and Magusi

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Capital Structure

Options / Warrants

As at January 13, 2014

No. Options of

Warrants

Avg. Exercise

Price

Options

2,000,000

$0.05

Options

1,350,000

$0.20

Warrants

9,710,800

$0.10

MAG Copper Limited

CNSX: QUE

Shares Outstanding

Warrants / Options

Fully Diluted

78,268,628

13,060,800

91,329,428

Current Share Price

$0.05

52-Week High / Low

$0.10/ 0.005

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Management Team

Greg Gibson Chairman Past President of Northern Gold and Past President of Trelawney Mining and Exploration. 30 years

international mine management and development experience.

Chris Irwin President and CEO

Over 19 years of experience advising public mineral exploration companies. He has been a member of the Law Society of Upper Canada since 1996.

Marco Guidi CFO Over 10 years financial expertise in mining.

John Carter Director 35 years of direct mining and minerals processing equipment experience. Director of Trueclaim Exploration and Golden Bridge Mining.

Terry Loney Director 31 years as President of Klondike Bay Resources with expertise in property acquisitions, exploration and development. President of Northern Skye Resources and Director of Golden Bridge Mining.

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Mag Copper Moving Forward

• Commence production at Fabie Bay/Magusi

within 9 to 12 months

– 1,500 t/d production target

• Agreement in Principle with established contract

miner

– Fully permitted for production

• Targeted Drill program on Magusi to expand

resource

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Mag Copper Contacts

Contact:

Terry Loney John Carter

kyalexa@sympatico.ca cartera@sympatico.ca

1-705-669-9259 1- 905-302-3843

Wanda Cutler

wanda@cutlermccarthy.com 1-416-303-6460

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