EL TESORO MINE

Antofagasta provided highlights of its Q2/2007 production report. Los Pelambres produced 71,100 tonnes of payable copper in Q2 and 141,800 tonnes in the first six months of 2007, marginally above the first six months of last year, while molybdenum production was 2,800 tonnes in Q2, and 4,900 tonnes in the first six months of 2007, 19.5% above the first half of 2006. At El Tesoro, cathode production was 23,200 tonnes in Q2 and 46,800 tonnes during the first half of the year, which represents a 10% increase compared with the first six months of 2006. Michilla produced 11,800 tonnes of copper cathode in Q2 for a total of 23,400 tonnes during the first half of 2007, marginally below the first six months of last year.

During the second quarter of 2006 the operation produced 21,766 tonnes of fine cathode copper which was slightly under the budgeted production total of 21,906 tonnes. Also, the company completed a ground geophysical survey over portions of the Mellizos tenements, as follow-up to targets identified during the previous drilling campaign, in addition to the Mirador tenement.

The Minera El Tesoro Board approved a feasibility study to examine the economic viability of leaching run-of-mine ore. The study will include the construction and operation of a 120,000 tonne demonstration heap this year with the objective of completing the feasibility study during the second quarter of 2007.