Brisas

The Brisas Project site is located in the State of Bolivar, 375km south east of Puerto Ordaz in southeastern Venezuela.

The current operating plan assumes a large open pit mine containing proven and probable reserves of approximately 10.4 million ounces of gold and 1.3 billion pounds of copper in 485 million tonnes of ore grading 0.67 grams of gold per tonne and 0.13% copper, at a revenue cutoff grade of $3.04 per tonne using a gold price of $400 per ounce and a copper price of $1.15 per pound.

The plan anticipates utilizing conventional truck and shovel mining methods with the processing of ore at full production of 70,000 tonnes per day, yielding an average annual production of 456,000 ounces of gold and 60 million pounds of copper over an estimated mine life of approximately 18.5 years

In March of 2007 it was reported that SNC-Lavalin Engineers & Constructors, Inc. of Toronto and its international affiliate were selected to undertake Engineering and Procurement and Construction Management services for the Brisas Project gold/copper project. Procurement and construction activities are expected to commence after the Company obtains sufficient financing.