Acari

As of Dec11, Acari property may not be recoverable because significant exploration and development work had not been performed on the property for more than 3 years. The Company has not abandoned the property, though the property is currently not part of the Company’s short-term exploration and development strategy.

Reported Q3 gold sales increased up to 9,506 ounces for a total of 25,484 ounces for the first nine months of the year

New expansion and improvement works were undertaken at Acari. A conical crusher is currently being installed, which should increment the processing capacity to 120 tonnes per day. A thickener is also being built for the installation of a "Merrill Crowe" system, which should be operational during the upcoming quarter. This new system will allow increasing the efficiency and substantially speeding up the whole process of the mill. In addition, additional works are in preparation in order to increase, later on, the production which should reaches or exceeds 400 tonnes per day. Tailings will be extended as well during the forthcoming months.