Mr. Michael McPhie reports

FLORENCE COPPER TO GENERATE $2.2 BILLION IN ECONOMIC ACTIVITY IN ARIZONA OVER 28 YEARS

Curis Resources Ltd. has released a comprehensive socio-economic study(1) of the Florence copper project by Arizona State University (ASU). "Florence Copper Project: Economic Impact Study" details an impressive case of lasting economic value, including new capital investment, job creation, personal income, private-sector business growth, and government revenue in Florence, Pinal county and Arizona. The study concludes that the Florence copper project will bring more than $2.2-billion in new economic activity to Arizona over the next 28 years.

"The ASU economic impact study is a sophisticated, independent third party review of the overall economic, employment, business and public benefits to be generated by Florence copper," said Michael McPhie, president and chief executive officer of Curis. "It confirms that Florence copper will make a profound near-term and sustained contribution to the economic well-being of Pinal county and the state of Arizona through the creation of stable, well-paid jobs, hundreds of millions of dollars in supply and service contracts for local businesses, and contributions to governments at the local, county and state levels."

Study authors at ASU's prestigious L. William Seidman Research Institute were commissioned by Curis to forecast potential impacts of the Florence copper project, an environmentally sound and socially responsible in situ copper recovery operation in Florence, Ariz., on the state and local economy and work force. Top economic experts -- Dr. Dennis Hoffman, PhD, Dr. Lee McPheters, PhD, and Tom Rex, MBA -- utilized data from the U.S. Bureau of Labor Statistics, the U.S. Department of Commerce, the State of Arizona, Pinal County and other official sources to compile the 129-page study.

Conclusions in the ASU economic impact study include:

• Florence Copper will generate about $2.2-billion of economic activity within Arizona, with $1.1-billion to occur within Pinal county.
• The project will support an annual average of 681 Arizona jobs over 28 years.
• New jobs created are expected to support head-of-household wages; compensation within Arizona's mining industry is 44 per cent higher than the state average.
• Two out of three jobs can be sourced from workers in Pinal county.
• Personal income for Pinal county residents will rise by more than $700-million.
• Arizona governments will collect approximately $325-million in taxes and royalties.

"With current unemployment rates of 20.3 per cent in the town of Florence and 9.5 per cent for Pinal county(2), we believe Florence copper represents an extraordinary opportunity to provide lasting benefits to the people of this community," Mr. McPhie said. "It's also an unparalleled opportunity to kick-start the regional and local economy as it begins to recover from the effects of the recent housing crisis and economic downturn."

(1) The study used projected production and results of the 2010 preliminary economic assessment of the Florence project (see Curis news release of Nov. 15, 2010).

(2) Source: Arizona Department of Administration.

The ASU study also examines the ripple effect that the Florence copper project will have on Pinal county, predicting the project has more potential than any other economic factor to spur an economic recovery in the near term. New private-sector businesses are expected to increase once copper operations begin.

"Based on our analysis, Florence copper could create hundreds of high-wage jobs, and generate millions in annual revenues for local and state governments and businesses," Dr. Hoffman confirmed. "Florence copper represents a regional economic development opportunity with real, near-term benefits."

The full study is available at the company's website. It details the historical background, the economy of Florence and comparison areas, socio-economic overview, baseline growth, economic and fiscal impact, and work force analysis.

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