The wholly owned Coricancha mine, approximately 90 kilometres east of Lima, Peru, includes mining concessions that cover an area of approximately 1,691 hectares, with 37 developed stopes at elevations from 3,400 to 3,900 metres.

TIMELINE

• March 2006 – Coricancha mine purchased for $12 million from Gestiones Y Recuperaciones de Activos S.A., as well as the acquisition of Larizbeascoa & Zapata.
• 2006-2007 permitting mine facility and environmental compliance
• Early 2007 – hiring and training of 600+ mine employees and start of refurbishing mine and processing plant
• February 2007 – mine and processing facility start-up
• April 2007 – NI 43-101 technical report including updated Mineral Reserve and Mineral Resource Estimates for the Coricancha mine filed with SEDAR
• October 1, 2007 achieved commercial production status (based on processing 400 tpd in any 18 days within a 30 day period)