Los Verdes Property

The property is an advanced-stage, moderate-size, high grade porphyry-related Mo-Cu system which is rapidly being advanced to production. A pre-feasibility study has demonstrated in considerable detail a robust project based on molybdenum and copper recovery only; upside exists in tungsten recovery and improved molybdenum recovery. Reserve of 7.05 million tonnes at 0.137% Mo and 0.657% Cu gives a project life of 8 years and NPV of $96.9 million and IRR of 23%. Direct cash costs of $22.7/tonne of ore, cost per lb Mo less than $1/lb after copper credits.

Mineralization is contained in a prominent ridge with favourable geometry for a simple mining operation. As the molybdenum market is projected to be strong for the medium to long term, the Company is taking a measured approach to the preparation of its Feasibility Study for 1 million tonne/year operation.

NEW: Los Verdes Pre-Feasibility Study, September 3, 2008

Click here to view the Feb 29, 2008 Technical Report for Los Verdes

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Cuatro Hermanos Property

The property hosts a large Cu-Mo porphyry complex with multiple mineralized centers, and outstanding exploration potential. Drilling during the past year on one of the targets has resulted in a NI 43-101 compliant indicated resource of 206 million tonnes containing 896 million pounds of Cu and 95 million pounds of Mo, along with an inferred resource of 557 million tonnes, containing 2,141 million pounds of Cu and 277 million pounds of Mo. Currently a core drilling program is underway to explore the deep potential of this huge porphyry environment.

Click here to view the Aug 9, 2008 Technical Report for Cuatro Hermanos

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