Vitor Gold Claim

The property has 200 hectares and is located in Vitor. Geological regional frame is the Coastal Batholith with a SE-NW orientation. Rosario Vein is the main mineralized structure in current prospecting, which strikes N50°W and dips 50°NE and outcrops in 400m length approximately. It has been surveyed on 120m length with narrow underground sublevels and chimneys dipping down until 30m, which were surveyed, mapped and sampled. Gold mineralization is distributed in the milky and gray quartz accompanied by goethite and hematite that fill micro fractures. Intrusive host rock is tonalite with moderate argillic alteration in contact with the vein. The mineralized area corresponds to the oxidation zone, whose continuity is evident both in depth and horizontal extent. No relicts of primary sulfides have been observed. Vein width and grade ranges from 1.3 m with 5.3 Au gpt to 0.5 m with 17.8 Au gpt. Summary statistics with all available data until now give averages of 0.8 m width and weighted 8.7 Au gpt. Samples were assayed at J.Ramon, Inspectorate Services and Alex Stewart laboratories in Lima. With the ore extracted during the initial exploration, cyanide leaching tests have been made at pilot stage, obtaining good recovery. For Rosario Vein all evidences suggest longitudinal extents reaching 1 Km. In the same mining claim other economic mineralized structures has been prospected also. Those structures have a sub parallel strike and dip angle to Rosario Vein, in both hanging and footwall sides. During the construction of the access road to the mine in 2011, several structures have been intercepted, with prospective gold grades. Other gold vein structures exist toward the southeast in neighbor properties with active mining operations. Potential of resources in this mining claim has been evaluated at 190 ktons with 8 Au gpt. The property is located outside the area reserved for Majes Siguas Project, in a desert zone where the environmental impacts would be minimal.