Chile Leader in metals that facilitate the future Chile Leader in metals that facilitate the future The Projects section of this document has been prepared based on information provided by third parties. The Ministry of Mining has conducted a review limited to validate the existence and ownership of the projects, but the scope of this process does not confirm the accuracy or veracity of the technical data submitted by the parties. Therefore, the information on each project remains the exclusive responsibility of the interested parties identified on each data sheet. The Ministry of Mining is not responsible for the use and/or misuse of this information, and takes no responsibility for any commercial conditions that may be agreed between sellers and potential purchasers.

Second edition Santiago, 2020

Editorial board Francisco Jofré, Ministry of Mining Bastián Espinosa, Ministry of Mining Javier Jara, Ministry of Mining

We thank the collaboration of Empresa Nacional de Minería (Enami). Invest Chile. Instituto de Ingenieros en Minas. Colegio de Geólogos. Kura Minerals. Minería Activa.

Design, layout and illustration Motif Diseño Integral SpA

Photographs Ministry of Mining

Printing Imprex

Chile Leader in metals that facilitate the future 3 Table of Contents

Letter from the Authorities...... 6 Prologue ...... 9 Acknowledgments...... 13 Chile: Attractive Country to Invest in Mining ...... 19 Characteristics as a Mining Country...... 20 Mining Statistics ...... 22 Miocene Belt ...... 24 Investment Portfolio...... 26 Promoting Greenfield Exploration...... 27 Online Geological Potential Consultation Platform...... 28 Project Book Summary...... 31 Basic Exploration Projects (Generative)...... 37 Basic Exploration Projects (Follow-up) ...... 49 Advanced Exploration Projects ...... 89 Mining Pre-development Projects...... 111 Glossary of Abbreviations ...... 136

ministeriodemineria @MinMineria_cl

Chile Leader in metals that facilitate the future 5 Letter from the Authorities Chile is paying great heed to the mining industry’s role as the driving force behind development, with particular emphasis on copper production. Figures from the United States Geological Survey indicate that the country holds 20% of all global copper ore reserves. Each of our initiatives has therefore been designed in line with our leadership potential in the field.

Codelco’s El Teniente Division stands as a case in point: indeed, this project has seen the construction of 4,500 kilometers of tunnels, a figure greater than the full length of continental Chile. Another clear example is Chuquicamata – also a Codelco mine – which has grown over the years to become the world’s largest open-pit mine, and moved to underground mining after 100 years of surface development.

Indeed, it is important to duly recognize the contributions made each day by the mining sector’s workers, executives, professionals, and specialists, endowing the industry with their skills and talents, regardless of whether they are operating in the arid north or the snowcapped Andes.

It should also be noted that we have taken on the challenge of improving workplace safety for everyone involved in mining, with a series of measures that allow progress to be made in the right direction; reports from the National Geology and Mining Service (Sernageomin) show that these initiatives have materialized in a significant and sustained reduction in accident rates over the past ten years.

Baldo Prokurica Prokurica Ricardo Irarrázabal Sánchez As officials in the government of President Sebastián Piñera, we have a deep-seated commitment Minister of Mining Vice Minister of Mining to developing, discussing, approving, and disseminating public policies that allow the Chilean mining industry to maintain its rightful place in the world. Chile is – undeniably- a leader in metals that facilitate the future. Our country is the world’s top one copper and rhenium producer, second in lithium and molybdenum, and sixth in silver production. It This book serves as a road map to 40 projects currently standing at a range of phases in Chile, and the accounts for 55% of the entire planet’s rhenium production, 28% of all copper, 22% of molybdenum, economic potential that they hold for the country. Each project also features specific areas for ongoing 19% of lithium, and 5% of silver. efforts in terms of sustainability, and for underpinning an essential fact: the mining sector does not let Chile down. Mining is therefore seen as the country’s most significant economic activity. Over time the industry has consolidated and brought a powerful boost for Chile’s development, directly and indirectly benefiting thousands of local families. Meanwhile, its progressive contribution to job creation has played a key role in reducing poverty.

The mining sector’s position as the country’s economic powerhouse has consequences both within Chile and abroad. The considerable advances that we have experienced as a preferred destination for investment should therefore come as no surprise.

Meanwhile, a recent study conducted by the Chilean Copper Commission (Cochilco) showed a 13% increase in resources earmarked for exploration in 2019, bringing the country up from sixth place the Baldo Prokurica Prokurica Ricardo Irarrázabal Sánchez previous year to fourth: a clear sign of interest in projecting our mining deposits into the future. Minister of Mining Vice Minister of Mining

Chile Leader in metals that facilitate the future 7 Prologue

In this second edition of the compendium “Chile: Leader in metals that facilitate the future”, the Ministry of Mining presents a portfolio of 40 initiatives. This year’s edition includes 34 exploration projects and 6 at more advanced stages or pre-development.

These projects target a range of minerals of economic interest: 26 relate mainly to copper, 11 to gold, 1 to rock salt, 1 to titanium, and 1 to a polymetallic zinc prospect.

Chile Leader in metals that facilitate the future 9 Why invest in mining exploration in Chile?

Chile is a world-class mining destination. By setting up or expanding operations in the country, you InvestChile will be part of a forward-looking, integrated and sustainable mining sector, operating inside a mature & stable ecosystem that includes all of the sector’s global players. Some of our country’s attributes: www.investchile.gob.cl/es/ Location: When it comes to metals Chile has got it: the world´s biggest producer of copper; large lithium reserves with very competitive production costs, gold, silver and iron ore, to name only a few of For this publication, InvestChile has collaborated as a partner with the goal of fostering a more our mineral endowment. dynamic mining exploration sector. Experience: We are leaders in the mining sector: our competitive edge and solid economic foundations makes us a top country globally in terms of company exploration budget, at more than US$ 570 million. (Cochilco/SNL Metals & Mining 2019). INVESTCHILE, Foreign Investment Promotion Agency Vision of the furure: Chile is the Latin American Hub: exporting mining technology services to 39 InvestChile, the Foreign Investment Promotion Agency, is the public organization that promotes Chile markets. We have signed more Free Trade Agreements that anyone on the planet; guaranteeing special internationally as a destination for foreign direct investment, serving as a bridge between your interests trade tariffs with 86.3% of the global GDP. and the business opportunities the country offers.

The Agency facilitate strategic partnerships for a successful investment journey, strengthening Chile as the Latin American Hub for global business. We are ‘The Best Investment Promotion Agency of the year 2019’ – International Business InvestChile works closely with private organizations, public institutions and ministries to plan and offer Magazine - & ‘The Best Investment Promotion Agency in South America’ – Best to Invest Report attractive sectorial projects to promote investment. 2019 – Site Selection.

#InvestChileTools Free-of-charge specialized services at every stage of your project: Scan & Download

Knowledge FDI statistics, business opportunity facts & figures, market & sectorial highlights, legal & tax information, reports & studies.

Promotion Investor delegations, B2B meetings, investment roadshows, conferences & workshops. INSTITUTIONAL INVESTOR’S Guidance BROCHURE GUIDE Expert sector managers, contact with key players, site visits, government programs & incentives, public-private portfolios & public tenders. InvestChile speaks your language! Mandarin, Spanish, Support Portuguese, Japanese & German. Ongoing assistance for landing & expansion, specialized advisory, policy advocacy. We are an eco-friendly agency. Our promotional content & tools are mostly digital. For more information: Visit us at www.investchile.gob.cl or contact us [email protected].

Chile Leader in metals that facilitate the future 11 Acknowledgments

Chile Leader in metals that facilitate the future 13 FEXMIN ENAMI https://fexmin.cl/

https://www.enami.cl/ FEXMIN, the Exploration and Mining Convention, is organized by the Chilean Geologists Asociation and held annually in Santiago, Chile. Founded in 1960, the National Mining Company aims to promote Its objective is the exhibition of mining properties as well as mining the development of small and medium scale mining, providing and exploration projects of various sizes and potentials, available the services required to access the refined metals market, under for all types of negotiations; creating opportunities for explorers, competitive conditions. In order to fulfill its objective, its focus rely on entrepreneurs and investors. the management of three promoting instruments, which are Mining In addition to the exhibition of the projects in booths and presentations Development, Benefit from Minerals and Smelting and Refining. with images, conferences and forums of specialists are held on new Today, there are hundreds of producers who thanks to the permanent discoveries, new technologies, and the future of exploration. support of the institution, can develop for their activity, generating The next version will be in July 27th to the 29th, 2020, at the more than 20,000 direct jobs and contributing to the development of CasaPiedra conference center, Santiago, Chile. economies of scale at the local and national level.

Kura Minerals Instituto de Ingenieros http://kuraminerals.com/ de Minas de Chile Kura Minerals is a boutique consultancy firm that was created with https://www.iimch.cl/ the goal of resolving the market asymmetry that affects the mineral exploration sector in Chile. This asymmetry is mainly derived The Institute of Mining Engineers of Chile is a private corporation from barriers to entry in terms of access to geological and legal that does not pursue objectives based on labor union or profit. It was information on areas of interest, availability of projects or areas to founded in Santiago on September 29, 1930 and its action is based on acquire mining rights, and legislative, political, and administrative technical and academic matters. difficulties facing foreign companies that wish to launch a venture It brings together Mining Engineers, Metallurgists, Geologists and in Chile. Kura Minerals seeks to bridge this divide by providing Engineers from other specialties who work in the mining, metal and professional services in the fields of geology, law, and commerce for non-metal industries, processing plants, refineries and foundries. both domestic and foreign companies, aiding in the identification, acquisition, and divestment of mining projects at any phase. It also welcomes, as Associate Members, other professionals linked to Indeed, the Kura Minerals team possesses extensive experience in the sector, such as lawyers, journalists, accountants, auditors, execution the mining sector, as its professionals have been trained at major engineers, biochemists, historians, etc. multinationals and combine their backgrounds in both geology and law to offer clients advisory services of excellence.

Chile Leader in metals that facilitate the future 15 Minería Activa http://www.mineriactiva.com/

Minería Activa is a privately owned mining firm focused on the mining industry in Latin America. It has invested more than US$ 200 million along different stages, from exploration to mining operation and different commodities.

The professional team has solid experience in Investment, Geology, Mining, Financial and Legal Structuring. Mineria Activa seeks control of the investments it is involved in and leads the execution of the projects taking advantage of its internal technical team. The company is a partnership between Activa Alternative Assets, the private equity arm of Larrain Vial, and a team of experienced partners.

Chile Leader in metals that facilitate the future 17 Chile Attractive Country to Invest in Mining

Chile Leader in metals that facilitate the future 19 hile is the world’s number one copper producer, thanks to the country’s land and geological potential combined with regulatory conditions that maintain stability for Cinvestors. This situation is reflected in the Fraser Institute’s Economic Freedom Index1.

Characteristics as a Mining Country

Throughout its history, Chile has a consolidated mining tradition. Since pre-Columbian times and through to the present day, our country has been a leading destination for mining development at all scales, from small copper and gold mines developed by indigenous peoples at Chuquicamata and Incahuasi, to large-scale copper mining.

The country’s unique geographical features endow it with competitive advantages that have materialized in the form of relevant infrastructure such as highways, ports, power lines, airports, desalination plants, and ore concentrate pipelines that connect mines in the high Andes with shipping ports.

In order for Chile to retain its position as the world’s top copper producer and a leading country in terms of knowledge export, the challenges are diverse and cross-cutting. This is why President Sebastián Piñera’s government is currently developing its flagship 2050 National Mining Policy to comprehensively address these challenges and to strengthen the industry’s sustainable development.

1 Economic Freedom of the World: 2019 Annual Report

Chile Leader in metals that facilitate the future 21 Mining Statistics

In 2018 Chile produced 5.8 Mt of fine copper, the highest figure in the country’s history2. This is a encouraging news for the sector in view of the major investments planned for coming years (around US$72.5 billions by 2028).

The Chilean Copper Commission (Cochilco) estimates that domestic production of fine copper will reach 6 Mt in 2020, and 7.2 Mt by 20233.

Set against this background, Chile has positioned itself as an attractive destination for investments in other metals. Indeed, discoveries of gold deposits in the Upper Jurassic and Lower Cretaceous belts4, together with the discoveries along the Miocene Belt that began in 2005, have drawn the attention of a large number of exploration companies.

2029

2023 7.2 Mt 72.5US$ Billion 2020 6 Mt

2018 5.8 Mt

2 Cochilco Annual Report 2019. 3 Projection of copper production in Chile 2018 - 2029. 4 Potential for Exploration and Exploitation of Cobalt Mineral Resources in Chile (Townley, Díaz, Luca).

Chile Leader in metals that facilitate the future 23 Miocene Belt

Located in the Andes Mountains between 27° and 30° south latitude, this belt is known for its gold- bearing deposits, most of which are high-sulfidation epithermal formations either with fault-bounded vein, breccia or disseminated mineralization, together with some gold-copper porphyry units. Besides from this zone’s significance as a source of gold, it also contains deposits with attractive levels of copper, silver, and molybdenum. The most significant sites are El Indio and Pascua-Lama epithermal deposits, and the Cerro Casale gold-copper porphyry formation. Other ore bodies located in this belt include the La Coipa, Caspiche, and Pimentón epithermal deposits in Chile and the similar Veladero deposit in Argentina, as well as the Lobo-Marte gold-bearing porphyry (Cochilco, 2015). New discoveries are adding to the belt’s known mineral riches, such as Salares Norte and Alturas.

The constant and increasing trend in gold prices since 2016 has attracted the attention of mining investors. This is showcased in the 2018 World Exploration Trends report published by S&P Global Market, which highlights that worldwide investment in exploration amounts to some US$10.1 billion, and half of this figure goes to projects mainly targeting gold deposits5. The same situation has clear effects in Chile, where the latest report from the Chilean Copper Commission (Cochilco), titled Chile 2019 Survey of Exploration Companies (Catastro de Empresas Exploradoras de Chile 20196), states that gold takes second place in investment and first place in terms of the number of exploratory boreholes drilled7.

The Miocene Belt, the site of Chile’s recent major gold discoveries, offers an outstanding investment opportunity, where gold-bearing resources have been identified with a total content of more than 33 Moz.

Investment opportunity 33Moz Au

5 London Metal Exchange precious metals prices https://www.lme.com/en-GB/Metals/Precious-metals/ 6 Comisión Nacional del Cobre (Cochilco) Survey of exploration companies 2019. Location of Principal 7 This analysis is solely for reference, as it only covers companies that report drilling activities. Gold Projects

Chile Leader in metals that facilitate the future 25 Investment Portfolio Promoting Greenfield Exploration

The latest report by the Chilean Copper Commission (Cochilco) describes the portfolio of projects to Chile offers major development opportunities for this class of exploration due to its vast geological be implemented between 2019 and 2028, reporting that 44 projects are set to begin operations, with potential and new discoveries in the High Andes. During the past twenty years at least 35 deposits total investment of US$ 72.5 billion (Cochilco, 2019). Antofagasta Region heads the list, with 34% of the featuring copper as the primary mineral and three gold deposits have been discovered in Northern investment projected for the period, while copper accounts for 96% of the investment in that region. and Central Chile, adding more than 208.6 Mt of copper and 34.3 Moz of gold to known resources and reserves8.

The Ministry of Mining has identified three key areas for promoting greenfield exploration:

US$ 44projects 72.5Billion

2019 2028 1. Access 2. Permit 3. Improving to mining processing availability of rights. times and geo-scientific certainty information. levels.

With respect to the latter, the National Geology and Mining Service (SERNAGEOMIN) has developed the 34% SIGEX Platform (Exploration Geology Information System), which provides information on the results of 96% geological exploration with interactive maps. 36%

Are located in the Are of copper Correspond to Antofagasta Region greenfield exploration

8 Source: “Franjas Metalogénicas de los Andes Centrales: blancos clave para la exploración minera”, Cochilco 2016.

Chile Leader in metals that facilitate the future 27 Online Geological Potential Consultation Platform

SIGEX https://www.sernageomin.cl/sigex/

In 2016 SERNAGEOMIN began efforts to request, compile, and publish information on basic geological exploration performed by companies. The platform allows access to databases of drilling, geochemistry, geochronology, and geophysics, all in editable formats that can be reprocessed and analyzed by interested parties. The system also provides the possibility to download geological maps, mineralogy studies, petrography information, and complementary documents for this basic geology data.

This initiative makes geological information from exploration available for public use, which leads to lower costs in basic exploration stages. This promotes support for development in the mining industry as well as acknowledgment of the country’s mineral resources.

To date, information has been collected covering a total of 495 projects in Chile. Figure 1 shows the distribution of projects by region, with clear preponderance in Northern Chile, which is the site of 80% of all reported exploration work. Meanwhile, copper is the element of greatest interest among companies, with some 89% of all initiatives, followed by gold and silver projects with 7%. Other resources, like iron, cobalt, hydrocarbons, and industrial minerals and rocks, account for 4%.

For more information go to https://www.sernageomin.cl/sigex/

Figure 1 international boundary indicated in this figure cannot be interpreted or considered as modifying the legal instruments in force establishing the international boundary.

Chile Leader in metals that facilitate the future 29 b. TYPE OF INFORMATION PROVIDED BY REPORTING BODIES Project Book Summary

This new edition contains information on a total of 40 projects, 25% more than the 2019 version, centering on bringing domestic medium-scale mining initiatives to fruition.

The selected exploration projects are classified into four phases according to the extent of their development: generative exploration, follow-up exploration, advanced exploration, and mining pre-development.

Background on submission of basic geological information on exploration activities, under Regulation 104. Stage Characteristics a) Projects by region and by zone; b) Type of information provided by Reporting Bodies; c) Type of resource Basic exploration Here, efforts are based on defining one or more areas of interest (regions) and explored; d) Projects available to the identifying targets for drilling. This is the first phase of basic exploration. public by direct download from the (Generative) Sernageomin website (http://www. sernageomin.cl) In this stage, the targets identified during generative exploration allow for significant mineralization to be found, leading to the identification or c. EXPLORATION TARGET d. PROJECTS IN SERNAGEOMIN PLATFORM Basic exploration discovery of the mineralized body, which in turn determines the primary (Follow-up) minerals and deposit type available. This phase draws basic exploration to a close.

This phase works with the information acquired during basic exploration Advanced (generative and follow-up) to garner an outline of the resource and specify exploration the deposit with economic value. This involves preliminary studies such as the scoping study and pre-feasibility study.

This stage features more extensive technical-economic studies or a project Mining feasibility study. This is also the time for legal an environmental studies pre-development (Environmental Impact Study), mining plans, investment planning, and cost estimation, in order to develop a comprehensive mine-plant project.

Chile Leader in metals that facilitate the future 31 In line with this classification, the book contains 24 basic exploration projects at the generative or Classification by follow-up stages, 10 advanced exploration projects, and 6 pre-development projects. Meanwhile, 26 of geographical area Yabricoya the projects relate to copper deposits, 11 center on gold, and rock salt, titanium, and polymetallic zinc mining account for one project each. Cono Amarillo Tarapacá Toro Rosa Sal Enriqueta

Lavalle, Caletas Paguanta Classification by stage Filomena, Ángela Antofagasta Agua Amarga, Angie

Oro Maricunga, Mostazal, Jaspe, Marimaca, Tornasol Marsellesa, Camila, Las Pintadas, Atacama Tres Puntas

El Inca, Filipina Los Rulos, Bornita, Corina, Clúster Dragón, Cerro La Plata, Joshua, Varillones Playa Verde, 5 19 10 6 Cerro Blanco Coquimbo Basic Basic Advanced Mining Palqui, Los Mantos exploration exploration exploration pre-development Petorca projects projects projects projects Valparaíso (Generative) (Follow-up) Futuro Pedegua Metropolitan La Africana Colliguay

O’Higgins Rosario de Rengo Classification by Isidora Maule mineralization

Copper Gold Rock salt projects projects project 26 11 1 Basic exploration (Generative)

Basic Exploration (Follow-up) Titanium Zinc project pollymetallic Advanced 1 1 project exploration Mining pre-development

Chile Leader in metals that facilitate the future 33 Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile 35

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile (Generative) Projects Basic Exploration 37

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture Hess &Aubel Principal Shareholder Kura Minerals Project Operator Contact inChile Petorca Cu -AuAgZn Cu Moz). just 15kmofthewell-knownElBronce Mine(1 Cretaceous hydrothermal developmentbelt silver-copper-lead-zinc veins,located onthe Polymetallic epithermal deposit with gold- and copper. epithermal veins,richingold System ofpolymetallic Basic Project Information Deposit Type Resource Type Thomas Eggers Private Equity Mechanism Financing g/t Ag). 1.54% Cu +0.83g/tAu25.5 conducted (1,500tonnes @ Small-scale mining hasbeen geochemical sampling. that includemapping and Field exploration studies [email protected] Development Stage sea level. Elevation between1,800and2,000meters above Region. Located 140 kmnorthofSantiago,Valparaíso operated byCan-Can. Located just15kmnorthofElBronce Mine, Access Location 540 Ha www.kuraminerals.com Tenure size Valparaíso Region Petorca up to 21g/tAu,7%Cu, plusAgandZn. hosts areas richinlode veins,withore grades the miningtenure andoffer apackage that current owners havemanagedto consolidate ores thathaveattracted artisanalmining.The professional exploration, withhigh-grade Comprising anarea thathasreceived little Cu, and50 g/tAg. mineralized rock containing 4.5g/tAu,2.5% artisanal miners havelocated 3,000tons of running downto unknowndepths,where feature crevice unitsmeasuringupto 7m, Polvorín, Chiripa, andVivianaLodes), which mainly onthenorthernsector (Lucas, Mining activitiesto date haveconcentrated Project availablefor purchase oroption. scale surface mining. The area hasseenthe development ofsmall- date. with atleast27veinsystems recognized to Identified as a belt measuring 2.5 x 0.7 km, Project Description Target 1 Relevant Information Highlights 2.5% Cu Eq for thisproject. at ElBronce Minesuggests avolumeofatleast7Mt@ An experiencedseniorgeologist whospentyears working Au andupto 5%Cu. Los Rusos: lodewithgoldvaluesof18-21g/t Additional Comments Target 2 39

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture Ltda Aragonita Asesorias Principal Shareholder Ltda Aragonita Asesorias Project Operator Contact inChile Agua Amarga Au -Ag environment of a copper-gold porphyry system. Geological interpretation suggeststheapical adjacent to theCortadera porphyrysystem. Agua Amarga islocated intheCretaceous band, type mineralized bodies. polymetallic system; andskarn- gold-silver veins;stratabound mineralization types:epithermal Comprises a number of Basic Project Information Deposit Type Resource Type Thomas Eggers Private Equity Mechanism Financing and geochemistry. shallow drilling,geophysics, include surface mapping, Site exploration studies that [email protected] Development Stage Region. Atanaverage elevationof1,200m. Located 30km southofVallenar, intheAtacama Location 1,465 Ha www.kuraminerals.com Tenure Size Vallenar Atacama Region north withanelevationdifference of400m. which reaches thesurface inacanyonto the porphyry-type system, similarto Cortadera, silver veinscouldwellrepresent adeeper porphyry modelatAguaAmarga. Thesurface in 2011 lent strong support to the apical The discoveryoftheCortadera porphyrysite operations andprojects. and possiblesynergy withothernearby infrastructure, aswell accessto electricity Near to HuascoPort, withroad andrail Agua Amarga. for porphyrybeneaththeepithermalveinsat as empiricalevidenceto justifythepotential resources of>[email protected]%Cu andstands 2 kmfrom AguaAmarga, constitutes initial The Cortadera porphyry system (HotChili), and interpretation for anarea of6x10km. 669 m,aeromagnetic andradiometric study Ag, Cu, Pb,Zn.Four DDHdrillingholestotaling geochemistry sampleswithanalysis for Au, Rosario, andLa Leona lodes).Over300 old mineworkings(La Culebra, Los Burros, of underground zonesatscale1:100 maps atscale1:10,000and1:2,000.Mapping Area ofinterest surveyedongeological Project Description Descriptions Information Relevant Geological Highlights Project available for option. Zn, and76g/tAg. of underground mining,withore grades of25%Pb,4.7% In the early 1920s the Agua Amarga district was the site (1825) andChañarcillo (1832). boom, whichcoincidedwith miningactivitiesatArqueros The site was discovered in 1811, during the Chilean silver Additional Comments 41

Basic Exploration Generative Kura Minerals Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Kura Minerals Principal Shareholder Contact inChile Toro Rosa - Cu Au - porphyry system. the apicalenvironment ofacopper-gold Resources). Geologicalinterpretation suggests south oftheChallacollosilverdeposit(Mandalay Spence andCerro Colorado Mines(BHP),and Paleocene Cu-Mo porphyrybelt,betweenthe Toro Rosa islocated intheNorthernChilean copper porphyryatdepth. sulfidation system. Potential for Epithermal goldveins,high- Basic Project Information Deposit Type Resource Type Thomas Eggers Private Equity Mechanism Financing using adrone. high-resolution imaging taken hyperspectral imagingand and geochemistry, aswell as include surface mapping Site exploration studies that [email protected] Development Stage 1,900 m. Antofagasta Region. At an average elevation of Located 65 km northeastofCalama,inthe road headingNE,reaching Toro Rosa after 73km. Tocopilla highwayto kilometer 74,thenagravel Access from thecityofCalamaalong Access Location 800 Ha www.kuraminerals.com Tenure Size Antofagasta Region Calama to thenorth. Kio porphyrybodies,which reach thesurface 20km lying porphyrysystem, similarto the Arcas and/or breccia zoneswithgold mayrepresent adeeper- Apical porphyrymodelatToro Rosa. Surface veins- gold anomalies. Surface copperoxides, stockwork ofiron oxides and transpressive jog. Structural intersection and generation of interest inthepast. works andoldclaimmarks indicate significant - Mo - Au - Bi anomalies. Several artisanal mining alteration cellswithhydrothermal breccia andCu 1:5,000 geological mapping shows at least three Project Description Target 2 Target 1 Highlights Arcas porphyrysystems. of mineralization inthedistrictincludeKio and development ofmineral systems. Otherevidence structural permeabilityzones suitable for the lines runningNW(Olacapato –Toro), generating Sierra deVaras anditsintersection witholdfault Iquique foothills. Tectonic dismembermentofthe Severely under-explored sectionoftheCalama- (Codelco, Antofagasta Minerals). projects operated bymultinationalcompanies Possible synergies withothernearbyexploration Additional Comments Information Relevant Geological 43

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture Themcorp Principal Shareholder Contact inChile Themcorp Project Operator Yabricoya Cu chalcopyrite -pyrite breccia zonesandveins. alteration, dissected by sericite - tourmaline - measuring 2.5x2kmofbiotite -magnetite The principal target isdefinedasanarea worldwide. the largest number of porphyry bodies known the Western Fault Domain,anarea thathouses Yabricoya islocated 95kmnorthofCollahuasi in Cu -Moporphyry. -Mo Basic Project Information Deposit Type Resource Type Thomas Eggers Private Equity Mechanism Financing include surface mapping. Field exploration studiesthat Development Stage [email protected] Paguanta, Paurimani, andQueenElizabeth. Planada, Arauco, Labranza, Tigre, Flor del Desierto, an abundanceofporphyrysystems, includingLa Tarapacá. Theproject islocated inadistrictwith Located 115 km east of Iquique, Region I, road headingnorth. Collahuasi to Kilometer 90,then30kmalonga Access from Pozo Almonte isviatheroad to Access Location 3,300 Ha www.kuraminerals.com Tenure Size Iquique Tarapacá Region Cu-Mo porphyryexploration usingdrilling. phyllic alteration (Ser-SilTour). Bio -Mtalteration at surface andsuperimposed observed insimilarageddeposits inthedistrict. while alsoexplainingthehigherleveloferosion may havefavored theconservationofsystem, Structural system ofgraben undercompression favoring theemplacement offluidsandporphyry. depressurization ofahydrothermal system andthus act asaform ofsuctionpump,leadingto the inverse faults with opposing vergence, which could has been postulated, limited by sub-parallel A structural system ofgraben undercompression Project Description Target 1 Information Relevant Geological Highlights Zone ofhighstructural permeability. chalcopyrite. Surface Cu oxides produced byin-situleachingof between faults. also promoting circulation oftheblock’s fluids may havehelpedprotect theformation, while little exploration to date. Thestructural system Oligocene belt,andhas received relatively porphyry bodies in the northern Chilean Eocene- Yabricoya constitutes oneofthelastoutcropping Additional Comments Target 3 Target 2 45

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture America Exploration SpA Project Operator Contact inChile Angie 1,800 Ha Cu -AuMo potentially favorable ore veins. rock showingalteration, mineralization, and Early exploration, geochemical anomalies and secondary enrichment. Cu (Au,Mo),withanarea of porphyry mineralization of Speculative potential for Potential >100Mt Resource Estimation Basic Project Information Deposit Type Tenure Size Resource Type Aquiles Alegría phase. Early exploration Stage Development [email protected] Copiapó Province, Atacama Region. 87 kmeastofCopiapó, Tierra AmarillaDistrict, Target measuringapproximately 1x1km Location alteration. rock showing favorable mineralization and based ongeochemicalanomaliesand Target measuringapproximately 1x1km Targets Highlights Copiapó Atacama Region www.segea.cl 2 . 2 Paleocene-Eocene belt. alteration. In geological terms, located in the showing favorable ore veins,mineralization, and Target based on geochemical anomalies and rock mineralization. geological survey worksuggesting Cu porphyry Area withgeochemical anomaliesand the ElSalvadorMine. Project located in theCu porphyrybelt southof Descriptions Information Relevant Geological Additional Comments 47

Basic Exploration Generative Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile (Follow-up) Projects Basic Exploration 49

Basic Exploration Follow-up Mineral OpportunitiesSpA Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Los Rulos 700 Ha -AuCoCu -Fe potential for medium-scalemining. Small mineswithhistoric Cu-Au production and values. with interesting Co Skarn-IOCG deposits Basic Project Information Tenure Size Resource Type Deposit Type Igor Collado Co resource. drilling to probe aCu-Fe-Au- Au mining,withexploratory Historic small-scaleCu- [email protected] Development Stage Region. 25 kmNEofthesettlementCanela,Coquimbo Near to mainpaved road network. Access Location Over 100Mt. mineralopportunities.com/ Resource Estimation Canela Coquimbo Region mines, withhistoric Cu-Au production. area of small open pit and underground Cretaceous IOCG deposits,thisisan Located inthecoastal bandof mineralization ofeconomicinterest. Outlining aresource withCu-Au-Co-Fe local magnetometry). analysis; andgeophysical survey(IPand sampling atformer mines for chemical 9 DDHboreholes totaling 1,306m;trench and valuesofCo andFe ofinterest. mines, with historic Cu-Au production Area ofsmallopenpitandunderground Targets Additional Comments Information Relevant Geological Highlights 51

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Minera Bornita SpA Project Operator Contact inChile Bornita 5,700 Ha -Mo-AuCoCu Eocene-Oligocene. Potential for Cu-Mo-Au porphyrydeposit, Copper porphyry. Basic Project Information Tenure Size Resource Type Type Deposit Patricio Zilleruello survey drilling. geophysics, 3,664mof DDH geology, geochemistry, andIP Early exploration stage, Stage Development [email protected] SE ofOvalle,Coquimbo Region. Andean foothills inMontepatria District,120km Quick accessfrom thecityofOvalle. Access Location Cu (sulfides). @ 0.3% Cu (oxides) 34 m @ 0.5% 54 m @ 0.53% Cu (oxides) 50 m Over 200Mt. Intercept Best Drilling Resource Estimation Patria Monte Coquimbo Region with 12m(232–244m)at172.9ppmMo. (maximum value6.85ppm).Borehole BOR-07 (maximum value2.56g/t)and1.46ppmSb Mo (maximumvalue 44.3 ppm), 1.33 g/t Ag Cu (maximumvalue5,020ppm),25.2ppm 05 with14m(242-256m)of2,397ppm (maximum value421ppm).Borehole BOR- shows 4m(314-318m)with328ppmMo (maximum value640ppm).Borehole BOR-02 (maximum value6.08g/t),and313ppmW Mo (maximumvalue 146.5 ppm), 2.7 g/t Ag Cu (maximumvalue7,850ppm),71.4ppm BOR-01 with8m(50–58m)of3,906ppm Bornita Surproject correspond to borehole The best drill survey segments observed in the used to define targets. mineralization, allowing magnetometry to be relationship betweeniron andcobalt Cobalt breccia: *Direct geochemical drilling to date. Cobalt breccia: *Over20,000meters of copper-bearing porphyry. Strong geological information to locate one ofwhichhasreceived surveydrilling. The project features 3areas ofinterest, only Descriptions Target 2 Target 1 Information Relevant Geological Highlights Project located inagreenfield area ofgreat interest. gravel-covered area. Magnetic anomaly: NE structural control running under anomaly undergravel, nodrillingto date. Magnetic anomaly: Measures 1.8x1.0kmofmagnetic Additional Comments Target 4 Target 3 53

Basic Exploration Follow-up Enrique Viteri A. Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Oro Maricunga epithermal, goldporphyry. High and low-sulfidation 1,100 exploitation Haand800exploration Ha. Au Geology, geochemistry, exploratory drilling. Basic Project Information Tenure Size Resource Type Deposit Type Enrique Viteri A. drilling. Early exploration phasewith Development Stage [email protected] Andes Mountains, Atacama Region. Includes twoexploration targets, Tolita andToro. Location Highlights 70m at0.33g/tAu. Potentially 1-2 millionounces. Intercept Best Drilling Resource Estimation Copiapó Atacama Region similar depositscurrently beingmined. Located inthe MaricungaBelt,adjacentto other silver unit,withquartz-alunite”. comprises a“High-sulfidationepithermalgold- Toro Prospect: Thegeologicalmodelfor Toro anomalies. project, in thenorthernsector, showindicative depth. The only 3 exploratory holes drilled for the discovery ofagold-coppermineralized bodyat Tolita Prospect: Tolita isanopenprospect for Additional Comments Information Relevant Geological 55

Basic Exploration Follow-up René MartinYure Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Corina 1,811 Ha Cu tourmaline breccia. Lodes, breccia areas, and Polymetallic deposit. with possiblepolymetallic mineralization. Evidence of9tourmaline breccia formations -AuAg Information Relevant Geological Deposit Type Tenure Size Resource Type Patricia Narváez and drillsurveywork. demonstrated resources Early exploration with Development Stage [email protected] km The La Corina sector covers an area of some 6 line from La Serena City. located inCoquimbo Region, 70kminastraight Old mineswithsilver-richspoil. 2 withaltered, leached,andmineralized zones Location Highlights Au. 48m with0.90g/tAu,1.0m with8g/t indicated resources. 638,704 tonnes 3,14g/tAueq,as Resource Estimation Intercept Best Drilling Serena La Coquimbo Region g/t Aueq. estimates of638,704tonnes ofore at3.14 130 minanarea ofore veins,withresulting 866 mintheMantos de La Corina zoneand In 2006ENAMIconducted 999mofDDH, and currently underexploitation. gold andsilverdepositofhistoric significance Condoriaco mining area, amajorepithermal The project area islocated 10kmfrom the Additional Comments Descriptions 57

Basic Exploration Follow-up Las Ñipas S.A. Compañía Minera Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Clúster Dragón 6,564 Ha -Au Cu tonnage ofCu andgold-bearinglodes. Exploration project withpotential for major epithermal Aulodes. Cu (Au,Mo)and mineralization of Potential porphyry Basic Project Information Deposit Type Tenure Size Resource Type Karen Pinto Loguercio AdinS.A. Principal Shareholder Development Stage surveyed. District partially [email protected] 66km NWofLa Serena, Coquimbo Region. geochemical andgeophysical anomalies. District withextensive andpartially explored Location Descriptions 0.89% Cu -2.6g/tAu. Potential Resources: >300Mt. Inferred: [email protected]%CuEq. (Cu+Au). Resource Estimation Intercept Best Drilling Serena La Coquimbo Region been only partially surveyed. surveyed; the other four have Alfa Central target hasnotbeen with 0.69%Cu and0.27g/tAu. “Aries” target showsintersections with 0.89%Cu and0.92g/tAu. “Tauro” target showsintersections are partially surveyed. mineralization ofCu (Au+Mo);4 and Escorpión) for porphyry Aries, Acuario,Alfa Central, District with5targets (Tauro, drilling. and 24,000mofDDH(diamond) (magnetometry andIP)methods, geochemical andgeophysical District surveyedusing Target 3 Target 2 Target 1 Information Relevant Geological Highlights samples. Geochemical studies have been conducted using total of 3,150 Northern andCentral Chile(Eocene –Oligocene). The districtislocated intheCu porphyrybeltthatrunsthroughout Additional Comments 59

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Mostazal Sociedad Legal Minera Project Operator Contact inChile Mostazal 1,317 Ha Cu -Ag Ag. Stratabound (layers) ofCu - explored. Esperanza. Favorable area >4Kminlength,<10% Parallels withdepositslike ElSoldadoandBuena Highlights Deposit Type Tenure Size Resource Type Enrique Viteri with sampledrilling. Exploration stage, Development Stage [email protected] m, Atacama Region. 30 kmeastofIncadeOro atanelevationof2,850 surface length. Exploration ofore layers anddepthlongfull Location Targets DDH MZ-8: [email protected]%Cu. Potential: >100Mt. Indicated: [email protected]%Cu, 7g/tAg. Resource Estimation Intercept Best Drilling Inca deOro Atacama Region lens-shaped bodies inanarea of80ha. meters. Drillingsurveys haveidentified 15 thickness andlinearextensions ofupto 600 layers measuring2to over20meters in mineralization system inandesite rocks, with Mostazal isastratabound copperandsilver Project Description with valuescloseto 1%Cu. for ananomaly; 11%represent mineralized outcrops of thesamplesshowgeochemistryabovethreshold date havebeenanalyzed for 39elementsusingICP. 35% explored, to adepthof150m.The363samplestaken to Belt withsignsofmineralization >4kmx2km,only 10% geochemical, andgeologicalsurveys. 11,380m, geophysical (IP and magnetometry), Esperanza. 60 DDH (diamond) drill holes totaling Parallels withCu-Ag depositsElSoldadoandBuena areas couldalsobeleachable. leachable down to 40-50mdepth.Some deeper sulfide Mixed Cu oxide and sulfide mineralization, potentially Relevant Geological Information Descriptions Additional Comments 61

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture René MartinYure Project Operator Contact inChile Cerro LaPlata 2,300 Ha Cu Exploration potential > 100Mt. deposit Potential for exploration ofamajorCu-Au -Au tectonic breccia. Mineralized Targets Highlights Deposit Type Tenure Size Resource Type Roberto Munizaga drilling. Partially explored with Development Stage [email protected] Serena; ElquiProvince, Coquimbo Region. Andean foothills near Vicuna, 85 km from La Serena andVicuña. By Route 41,whichconnectsthecities ofLa Access Location CP-05: [email protected]% Cu-0.30 g/tAu. Inferred: 20Mt,mainly Cu sulfides. Resource Estimation Intercept Best Drilling Vicuña Coquimbo Region width and7kminlength. Significant mineralized structure, 50min boreholes withtotal length2,516m. 1 drillingcampaign: 7DDH(diamonddrilling) upper sector. with theclasticbreccia zonelocated inthe copper andgoldmineralization associated The project hassucceeded in identifying Exploration couldbeperformed quickly. Descriptions Information Relevant Geological Additional Comments 63

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Aragonita AsesoríasLtda. Project Operator Jaspe 1,415 Ha Cu Au - epithermal alteration bodies withhighsulfide(HS) Stockworks andbreccia (DDH CAR-03: [email protected]% Cu). DDH CAR-05: [email protected]/t Au (l.c.: 0.3g/tAu)[email protected]. Inferred resources: 110Koz AuinVetarrón unit Resource Estimation Intercept Best Drilling Deposit Type Tenure Size Resource Type Ramón Araneda sample drilling. Exploration stage, with Development Stage [email protected] Copiapó Province, Atacama Region. 50 kmSEofCopiapó, Tierra AmarillaDistrict, paved roads, partially alongunpaved roads. One-hour drivefrom Copiapó, partially along Access Location deeper ores. explore potential of covered zoneand mineralization ofeconomicinterest and Define thevolumeofgold-bearing Target 1 Copiapó Atacama Region with Cu atdepth. 1,500 m.Covered zoneto theeastandintersection Three goldlodesalignedNW-SE along alengthof favorable results. testing withcyanide leachinghaveachieved Vetarrón unit,where drillingand metallurgical Three silica bodies with Au, notable grade in the potential for large-scale Cu mining. Potential for medium-scaleAumining.Possible geochemical surveys completed. holes totaling 4,628m.Detailed geological and Eocene volcaniccalderas. 19exploratory drilling Mineralization associated withPaleocene- Descriptions Information Relevant Geological Highlights Cu –1.8g/tAg-<0.5Au. upper body and Cu mineralization 37 m @ 0.25 % DDH CDAR-3 intercepted boththegold-bearing ∙ ∙ ∙ porphyry mineralization atdepth. Cu couldindicate potential for copper-bearing Au-bearing zones.Adrillingresult thatintersected rocks, showingpotential for exploration ofother Area to theeastcovered withpost-mineralization ∙ ∙ ∙ have orientation samples. samples to date. Tortilla andCerro Norte only Barraza hasonly returned verylow-grade holding 110Koz Au of upto 80meters, ageologicalresource Vetarrón runs from thesurface down to adepth Vetarrón, Barraza, Tortilla, andCerro Norte Four mineralized zoneshavebeendescribed: Target 2 Additional Comments 65

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Helix Resources Project Operator Contact inChile Joshua 3,932 Ha -Au Cu Copper-bearing porphyry. (29,800 m)andmagnetometry (51,400m). 4,600 mofDDHdrilling, IP geophysical survey Surveyworkto date features 1,200mofRC drilling, Located intheintermediate porphyrybelt. Information Relevant Geological Deposit Type Tenure Size Resource Type Highlights Alamiro SanFrancisco good drillintercepts. Advanced stage with Stage Development [email protected] settlement ofMonte Patria. Cu-Au porphyrysystem and20kmnorthofthe Paleocene ore belt,45kmSSEoftheAndacollo The project islocated intheCretaceous Sub- order to reach thefeasibility stage. exploration andrequires financialsupportin The project is currently atanearly stage of Location Descriptions 288m with0.3% Cu eq. benefit from gold. 105 Mtat0.35%Cu, with additional Resource Estimation Intercept Best Drilling Patria Monte Coquimbo Region leaving majorpotential for further exploration. conducted, allwithin the limited area ofTarget 1, To date 5,800 m ofexploratory drilling has been which could reach to adepth of up to 1 km or more. Au (Mo)porphyrysystem” onasignificantscale, drilling indicate the presence of a “muliphasic Cu- and soilgeochemistry, aswellexploratory Geology, geophysics (IPandmagnetometry), rock Additional Comments 67

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Minera Futuro Project Operator Futuro 1,400 Ha -Ag Cu copper oxides. Deposit withmineworks, hostinghigh-grade andesit hostrocks. sequence andtob in age, conglomerates Stratabound from cretacic Basic Project Information Deposit Type Tenure Size Resource Type Juan Xavier Barraza drillhole campaign. pending additional exploration phase, Intermediate Stage Development [email protected] la Costa mountains. Santiago, on the eastern edge of the Cordillera de Located inthe Metropolitan Region, southeastof 15 Mt Cu+Ag potential (no compliance). Location Resource Estimation of levelsandhigh-grade ores. Sedimentary sequencewithanumber Information Relevant Geological Metropolitan Region Santiago ∙ ∙ ∙ ∙ ∙ ∙ resolution. final phaseofissuinganauthorization of thesite, andSERNAGEOMIN isinthe mine 4,500tonnes permonthinonepart Environmental AssessmentServiceto These includeauthorization from the to beginoperating immediately. The project currently holds permits extracting goldandsilver. close to theproject, apparently mainly Records showartisanalmininginareas immediate exploitation. Privileged locationandpossibilityof close to theproject. a goldprocessing plant wasinstalled mined here upuntilthe 1970s,and gold existattheproject. Goldwas Gold. Clearsignsofthepresence of interest atthesite. offering a byproduct of significant of 5to 23ppminore layers/veins, Silver. Analysis yieldssilverlevels per ton ofcopper. drastically reduce operating costs structures/veins. Thesehighgrades copper grade valuesofover3%in Copper. Sampleanalysis yields Highlights Additional Comments 69

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Resources Inversiones Aguamarina Project Operator Pedegua 1,260 Ha Cu -AuAg layers. Drilling to surveymineralization potential inore Potential >15Mt. skarn bearing Cu-Au-Ag Layers ofgarnet- Deposit Type Targets Resource Estimation Tenure Size Resource Type Eduardo Álvarez exposed areas. sampling of outcrops and geological survey work and Early exploration phase,only Development Stage [email protected] Close to Petorca, Valparaíso Region. Area withsmallmines. Location Highlights a depositwithsimilarcharacteristics. extension ofCabildo’s ElSauceMine, Area located at thesouthern Information Relevant Geological Valparaíso Region Petorca lines. magnetometry. Total 7,489mofsurvey with 3 profiles of IP, resistivity, and Geophysics: orientation survey and openpitinLayer 6. 30-meter exploration tunnelinLayer 2 Exploration andminingoperation work: mine sites, analysis for Cu, Au,andAg. taken atoutcrops andexposedformer Geochemical sampling:34samples developed infrastructure. Located inaminingarea withwell- Additional Comments 71

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Gastón Tefour Project Operator Contact inChile Marsellesa 60 Ha Cu Potential for medium-scaleCu-Au-Fe mining. IOCG -AuFe Basic Project Information Deposit Type Tenure Size Resource Type Leopoldo Martínez further drillingrequired (IP andmagnetometry); stage, geology, geophysics Intermediate exploration Development Stage [email protected] 40 kmsouthofVallenar, Atacama Region. Unimpeded accessfrom Vallenar. Access Location IOCG-type mineralization. Potential for 50Mt. Resource Estimation Descriptions Vallenar Atacama Region System andIron Ore Band. Associated with a fault within the Atacama Fault Information Relevant Geological 60 Ha. Contains anexistingdisusedminepit. Highlights 73

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile GEOSUPPLY Project Operator Camila 700 x300m Drill surveybreccia bodies inanarea measuring 9,800 Ha -Au Cu Breccia bodies with Cu oxides and limonites. mineralization. Breccia withIOCG-type Tenure Size Targets Descriptions Resource Type Deposit Type 2 . Leopoldo Martínez geophysical survey. survey, geochemicalsampling, Early exploration phase: geological Development Stage [email protected] Province, Atacama Region. 10 kmeastofVallenar, Vallenar District,Huasco Location projects. infrastructure for mining Cu oxides. Closeto suitable Outcrops ofbreccia with Highlights Vallenar Atacama Region Exploration could beperformed quickly. Broad area ofgeneral interest, 24kmN-Sby7E-W. IP survey, and1exploratory drillholeof320m. Geological survey, geochemicalsampling,geophysical Additional Comments Relevant Geological Information 75

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Enami Principal Shareholder Contact inChile Enami Project Operator Lavalle Cu. veins ofPb-Zn-Au- skarn, andisolated Cu-Au-Mo porphyry, 10,500 Ha Au -Cu -Mo production mines. Domeyko Fault System andlocated closeto major bearing porphyryband,associated withthe on the Late-Eocene to Early-Oligocene copper- Gold, copper, andmolybdenum prospect located Type Deposit Basic Project Information Tenure Size Resource Type identify porphyrycopper. carried outinorder to Exploration campaign Andrés Rovira Private Investors Mechanism Financing Stage Development [email protected] the Jurassic belt. Identifying porphyrycopperwithmolybdenum in Escondida Mine. Antofagasta, Region II,andsouthwestofthe Cordillera, 135kmsoutheastofthecity Situated onthewestern slopesoftheDomeyko at anomalouslevels(113to 740ppm). values of14to 65ppm.Cu wasobservedinjust5% have valuesof1to 3.3ppmAg,and15%have Mo samples havevaluesof0.02 to 0.12ppmAu,35% comprise rock, and9compriseveins.50%ofrock of 156sampleswere collected, ofwhich147 (0.22ppm), Ag(1.7ppm),andSr(1,133ppm).Atotal by anintrusivedike, withthehighestlevelsofAu Hole AR -824,intercepting sediments affected Location Target Best Drilling Intercept Antofagasta Antofagasta Region www.enami.cl around theporphyryzone. wollastonite, andalowsulfidecontent isarranged from chalcocite. A calcite skarn zone with garnet, surface layer with signs of hematite derived type-A quartzveining.It features aleached bisected byamulti-directional stockwork with and smalltourmaline rosettes. Theporphyry is unit withpervasivesericite-quartz alteration The site features anoutcropping daciticporphyry zones associated withmajorstructures orfaults. as certain MMI anomalies and amalgamation and geochemicaltrends atedgeoutcrops, aswell selected basedonaltered rock areas, skarnzones, depths of150to 322 m.Drillingtargets were a total of 2,664 m drilled at the site, reaching The area wassurveyed with13RC boreholes, with Information Relevant Geological Highlights of thesmall-scaleminingsector. services; andbuyinguptrading intheproducts adding valueto production bymeansofindustrial services (mainly for copperandotherminerals); minerals; providing metal refining andsmelting providing credits andtechnical assistance; buying to promote smallandmedium-scaleminingby state-owned nonprofit company. Its objectives are Empresa Nacionalde Minería(ENAMI)isaChilean establishing atarget ofeconomicinterest. anomalies, andpermeability are idealfor characteristics, associations, geochemical of therocks, suchasdimensions,mineralogical Some characteristics derivedfrom thegenesis success ofprospection. porphyry halos,andare therefore key to the should be considered as potential copper-bearing The skarnzonesintheJurassic sedimentary rocks Additional Comments Business Group Description 77

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Enami Principal Shareholder Enami Project Operator Contact inChile Las Pintadas deposit epithermal Au,Ag Low-sulfidation 2,340 Ha Au -Ag silver potential. this constitutes aprospect withstrong goldand and geophysical surveyworkconducted inthearea, Belt; together with the geological,geochemical, located atthesouthwestern edgeoftheMaricunga over anarea ofintense hydrothermal alteration. Itis vein system withgoldandsilvermineralization, Las Pintadas prospect comprisesanepithermal Type Deposit Basic Project Information Tenure Size Resource Type Andrés Rovira carried out. geophysical studies geochemical and With geological, Private Investors Mechanism Financing Stage Development [email protected] elevation of4,000m. in Copiapó District, Atacama Region, at an average Located 100 kmeastofCopiapó asthecrows flies, order of5to 10Mt. Potential: Prospect ismedium-sized,ofthe the southern sector ofthetenure area. shown inthedistributionof thegoldanomaly in in areas ofgreater hydrothermal alteration, as The largest geochemical anomalies are located analyzed for Au,Ag,Cu, Zn,Pb,Mo,As,Sb,andHg. studies to date. 513 samples were taken and a 100mgeochemistrygridform theprincipal Geochemical samplingonaNWheadingand Location Resource Estimation Highlights Copiapó Atacama Region www.enami.cl Search for goldporphyryintheMioceneBelt. scale miningsector. the products ofthesmall- and buyinguptrading in means ofindustrialservices; value to production by and otherminerals); adding services (mainly for copper metal refining andsmelting buying minerals; providing and technical assistance; mining byproviding credits small and medium-scale Its objectives are to promote owned nonprofit company. (ENAMI) isaChileanstate- Empresa NacionaldeMinería straight-line distance of35km. Las Pintadas, theCaserones mineislocated ata distance of36km.To theSW of 24 kmawayandtheMaricungaMineisata project, whiletheCaspicheminingproject is km NEofLas Pintadas istheCerro Casalemining volcanic front oftheCentral ChileanAndes. 15 (26-28’S) andmakes upthe Oligocene-Miocene along thewestern edgeoftheCopiapó Altiplano site ofprecious metal mineralization thatruns Located on the 200 km-long Maricunga Belt, a Target 1 Information Relevant Geological Description Business Group the MioceneBelt. Search for epithermalgoldandsilversystems in in thiscasewithinTriassic rock. the development of a form of stockworks system, diorite intrusivebodyandargillic alteration, with porphyry strikes intheMaricungaBelt,witha similar to theconditionsatMarte andLobo by priorminingactivitiesappearsomewhat The geological-economiccharacteristics defined Target 2 Additional Comments 79

Basic Exploration Follow-up systems. sulfidation epithermal Low to intermediate Enami Project Operator Chile LeaderChile inmetalsthat facilitate thefuture Enami Principal Shareholder Contact inChile Tres Puntas 4.500 Ha Au for gold,copper, andmolybdenum. the MaricungaBelt,withexploration potential basins. Located nearthenorthwestern edgeof Oligocene-Miocene volcanisminmountain hydrothermal alteration, associated with Epithermal depositswithintense surface Type Deposit Basic Project Information Tenure Size Resource Type targets. out in search of new Drilling campaign carried Private Investors Mechanism Financing Andrés Rovira Stage Development [email protected] 5,300 meters. km SEofSalares Norte, withelevationsof4,900to Situated to thenorthofMaricungaBelt,20 m. m @0.16g/tfrom 126mand0.11g/tAufrom 196 g/t Au),whiledrillholeRDH-TRP-006 intersected 2 8 [email protected]/tAu,from 252m([email protected] 17,885 m. separated from eachotherby200m,totaling Nine CSAMT lines were taken, running N-S and Location Highlights Best Drilling Intercept Almagro Diego de Atacama Region www.enami.cl during thefinal twomonthsofthecampaign. ended withthedrillingofthree reverse airholes, and geochronological research. This stage the company Quantec, aswellpetrographic study coveringtheproject area, conducted by and roads, anda9-lineCSAMT 2Dgeophysical and surface sampling,construction oftrenches Exploraciones performed geophysical mapping of 113rock chipsamples.In2016Barrick Chile conducted asamplingcampaign, withatotal samples (Codelco, 2001). In2010GoldFields trenches androads, andacquisitionof192soil a scaleof1:10.000,construction3.6km performed, comprisinggeologicalmappingat resources. Basicexploration workwas in 1986 and 1987, looking to explore sulfur CODELCO explored theTres Puntas prospect Mabel Malva g/t Au. at least200Mtwith0.5-5 deposits withresources of Belt theseconstitute copper; intheMaricunga and/or low-grade gold- epithermal gold-silver Potential to contain Target 3 Target 2 Target 1 Project Description cracks. characterized bycrystalline jarosite distributed in The mineralization ispredominantly oxidized, domes. Accidental pyrophyllite inbreccia clasts. outside ofthesystem. Alteration affects baseof sector. Argillic alteration ispresent towards the developing to agreater extent inthesouthern steam-heated andopaline silicazones,the latter alteration characterized byQz-alunite with two Set inanarea measuring2.5x1.5kmofAA values. on analysis ofrock samplesshowsanomalous Au exist intheprospect area. Geochemistrybased Favorable lithologyandstructures are knownto Additional Comments Information Relevant Geological 81

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Enami Principal Shareholder Contact inChile Enami Project Operator Cono Amarillo Epithermal Deposit. High-Sulfidation zone merging through to kaolinattheoutside. with porous silica,surrounded byanalunite quartz principal ore body, alenticularacidleachformation mineralization wasdetected inthearea ofthe tuff withepithermalalteration. Theheaviestgold major erosion hasexposed acomplexofdacitic most significantistheCono Amarillozone,where María Ignacia,andLa Hoya alteration zones.The four secondaryzones: Cono Amarillo,Rinconada, exploration targets, defined asa principal body and The prospect features anumberofdifferent Au Deposit Type Basic Project Information Resource Type Andrés Rovira Private Investors Mechanism Financing explored. currently being interest are Four areas of Stage Development [email protected] some 40ha). artisanal mininginthemain ore body(anarea of gold content ofatleast2.0g/t,withpossibilities for formation hasatotal massof50Kt ofore witha Available information to date indicates thatthe The average surface elevationis4,000meters. salt flatand170kmeastofthecityIquique. Tarapacá Region, southeastoftheSalardeHuasco The prospect islocated inthehighAndesof 3,205 Ha Resource Estimation Location Tenure Size Iquique Tarapacá Region www.enami.cl Au. located inthemainbody, withpeaks of10.7g/t Geological modelingsuggestshighgoldlevels epithermal alteration causedbyacidfumaroles. Gold project located inTarapacá Region, with silica bodiesandmutually independent ore veins. of theformation period, creating anumber of of activitythatvariedinlocation overthecourse model for thesedeposits, andwithdifferent areas with highlevelsofexposure underthetheoretical an epithermalsystem created byanacidfumarole, The four-body epithermal model is interpreted as meters. that thisformation extends nomore than20 data from four exploratory boreholes indicating lenticular ore bodyexposedinthetrenches, with Results indicate low levelsofgoldexcept in the Project Description Information Relevant Geological Highlights were alsotaken at trenches. and 150meters. Atotal of1,704surface samples course of4campaigns, to depthsofbetween60 soundings drilledatotal of5,000meters overthe reverse airdrillingcampaign results. Atotal of36 the edgesofore body, anddiamond and geochemistry and data ontrenches to establish maps (1:5,000,1:2,000,1:1,000)aswell 1985 and1992are available,includinggeological Basic exploration studiesconducted between in theproducts ofthesmall-scaleminingsector. of industrialservices;andbuyinguptrading minerals); addingvalueto production bymeans smelting services(mainly for copperandother buying minerals; providing metal refining and by providing credits andtechnical assistance; are to promote smallandmedium-scale mining state-owned nonprofit company. Itsobjectives Empresa Nacionalde Minería (ENAMI)isaChilean Additional Comments Business Group Description 83

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Themcorp Principal Shareholder Contact inChile Themcorp Project Operator Varillones Cu -AuMoAg Petorca (SCMCan-Can). (Hudbay), Tres Valles (Sprott), andElBronce, Examples ofsimilardepositsincludeLlahuín the Cretaceous beltofhydrothermal units. Epithermal Cu-Au-Mo deposit, located in silver. copper-gold-molybdenum- and stratabound systems of Epithermal-type deposit Basic Project Information Deposit Type Resource Type Thomas Eggers Private Equity Mechanism Financing trench sampling. exploration studiesincluding magnetometry, and site Geochemistry, geophysics, [email protected] Development Stage sea level. Elevation between800and1,000meters above Located 30km eastofLos Vilos,Coquimbo Region. then Route D-875,thenprivate roads. Panamerican Highwayto theeastofQuilimari, Access Location 2,500 Ha www.kuraminerals.com Tenure Size Vilos Los Coquimbo Region discovery ofAu-Cu. characteristics make itastrong candidate for in ahigh-sulfidationzone.Itsgeological a goodmetal content levelatthesurface, Varillones is a fertile epithermal system with nearby. of the system and a possible porphyry center 400 C°,suggestinghydrothermal telescoping indicating temperatures ofaround 300C°to with green mica(Phengite) alteration, The areas withhighestmineral grade coincide silica). structure/layers withresidual silica(vuggy alteration (silica–alunite –dickite) and superimposed withadvancedargillic (sericite) –sulfides(pyrite –chalcopyrite) Hydrothermal celldefinedbyclays –kaolin suggesting continuityatdepth. of lowresistivity and highchargeability, Results ofgeophysical studiesshowazone Cu >0.1%,60ppmMo,and0.1g/tAu. 1.1 x0.4kmwithgeochemicalanomaliesin anomaly. Thearea includesazonemeasuring surrounded byalteration zonesandcolor Principal area ofinterest covers 3.4x2.5 km, Project Description Target 1 Information Relevant Geological Highlights Project availablefor option. district, withnocommunity orenvironmental restrictions. connectivity, andcloseto infrastructure. Mining-friendly low elevation,withanoutstanding road networkand Excellent location,just 25kmfrom the coast,ata Additional Comments 85

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Minería Activa Project Operator Caletas Cu (20 Mt)andMantos delaLuna (25Mt). high-grade medium-scaledepositslike IvánZar Blancos (400Mt)andMichilla(300Mt),aswell band andnearworldclassdepositssuchasMantos District located intheCordillera delaCosta ore Jurassic, La Negra Formation, Atacama Fault. Stratabound Cu-Ag -Ag Basic Project Information Type Deposit Resource Type Cristian Munchmeyer sampling. and surface geochemical on geophysical studies areas ofinterest based Generative: definition of Stage Development [email protected] Antofagasta, Antofagasta Region, Chile. Caleta delCobre District,50kmsouthof 7,400 Ha operation ofanSX-EW plant. Potential to reactivate thedistrictwith dozen otherminesinthesame district. was minedattheCaleta del Cobre Mineanda During [email protected]%CuS >1% Cu. Medium-scale resource potential: >20Mt @ Location Resource Estimation Tenure Size www.mineriactiva.com Antofagasta Antofagasta Region new operations to selltheircopperoxides. the area andhavebeenawaitingthestart of smaller miningcompanies haveabandoned Since theclosure ofCaleta delCobre, the along 700mofthestructural feature. characterized byseveral artisanalmines zone containing copperstrata andveins halo ofalteration is akilometer-long potassic heap ofbasalt-andesiticlava.Therelated million years of age, and a Jurassic volcanic a diorite laccolithlaminarintrusiveof145 copper mineralization housedincontact with Crystals inabiotite-rich mylonite zonewith evidence ofcopperoxide mineralization. scale miningalongthelengthoftarget: anomaly measuring2x0.5kmandsmall- to alteration/mineralization atdepth.Cu anomaly measuring>2,000x300mlinked shear zoneshowacontinuouscharge length ofthemylonite-altered mineralized alteration patterns. Five IPlinesrunningthe copper anomaly andstronger potassium clear relationship between thegeochemical The detailed 1:2,000geologicalmapshowsa potential resources of20-30Mt@+1%Cu. High-grade copperoxide target with Project Description Information Relevant Geological Highlights Target 1 activity. geochemical studiesaswell aspast small-scalemining of copperoxides suggested bythegeophysical and Proposal to drill 4holesto test theconceptualmodel Project availablefor purchase oroption. new drillholes,1,000meters drilling. been performed attheprincipal target. Plans callfor 4 Geophysical (5IPlines)andgeochemicalstudieshave Additional Comments Target 2 87

Basic Exploration Follow-up Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Projects Exploration Advanced 89

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Sal Enriqueta 100 Ha Salt withNaCl99.04%andSiO20.04%. salt flat. Rock salt deposit located on the Salar Grande 210 Mt. Salt flat Resource Estimation Tenure Size Resource Type Basic Project Information Deposit Type Francisco Cuevas proven resources. Advanced stage with Stage Development [email protected] Salar Grande, Tarapacá Region. Little investmentnecessaryto beginproduction. returns. Low production costs,strong margin andhigh Near to Chile’s mainproducers. purity rock salt,enoughproduct for 420years. With apotential production of500Kt/year ofhigh sectors. extends downto adepthof162meters insome Some boreholes haveshownthatthesaltlayer Average 100-120meters. Project primedfor commercial operations. Location Descriptions Highlights Grande Salar Tarapacá Region ∙ ∙ ∙ Purchase Option: Joint Venture for Production Lease Project seeking: purest saltdeposits. Considered to beoneoftheplanet’s largest and Geophysics: seismicresistivity +TEM(2018). ∙ ∙ ∙ estimated mineral content. Recent sales completed at the salt flat were for Specify salevalueoftheproperty inUSD. or reserves. Drilling campaign -measurement ofresources Additional Comments Target 91

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile SMN Inversiones SpA Project Operator Palqui Cu 396 Ha S-2: 20m@1,9%Cu-33 g/tAg. sulfides. Indicated: 250Kt +Inferred: 3.5Mt;Cu -Ag stockwork Breccia and Best Drilling Intercept Resource Estimation Tenure Size Resource Type Deposit Type Roberto Munizaga underground work sample drillingand Exploration stage, with Stage Development [email protected] Region. 41 kmeastofLa Serena, ElquiProvince, Coquimbo mining. Small mine withpotential for medium-scale Cu available. Mining permits,easements,andwater supply Mine withprevious small-scaleoperations. air) holestotaling 1,140m;underground work. holes totaling 870mand7RC (reverse circulation 2 drillingcampaigns: 10 DDH(diamonddrilling) Location Highlights Information Relevant Geological Coquimbo Region Elqui Potential >20MtofCu sulfidesandoxides. in stages. study estimates investment ofUS$11million start ofminingoperations. Pre-feasibility Partial exploration stage withdrillingand Additional Comments Targets 93

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Isidora Carlos MarínB. Project Operator Au -AgPbZn 500 Ha Region, located 30kmWNWofTalca. Cordillera de la Costa mountain range, Maule other elements. 280 Koz Auat4.15g/tAu,notconsidering epithermal veins. Polymetallic Location Resource Estimation Tenure Size Resource Type Type Deposit Carlos MarínB. resources. increase measured further drillingmay exploration stage; Intermediate Stage Development [email protected] 4 parallel veinshavebeen recognized. production withinafew years. drilling thatcoulddouble or triplethescaleof supported withsome additional exploratory per month,withbothtunnelsandsurface works, exploitation project to minesome5,000tons to date, issufficient to beginanexploration- work performed undertheinvestmentsmade Existing background information, derivedfrom work, asdescribed,exceeds US$2million. Total investmentover15years ofexploration 25% oftheminingproperty. taken placeinanarea makingupapproximately Most prospection work conducted to date has access easementavailable. Deposit located in forestry plantations, with Additional Comments Talca Maule Region 95

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Mineral OpportunitiesSpA Project Operator El IncaEl veinsS. Deposit withlong-standing miningofgold Au breccia andveins. Gold-bearing Resource Type Basic Project Information Type Deposit Igor Collado be completed. drilling remaining to survey and evaluation drilling, withsome stage, 3,858mof Semi-advanced Stage Development [email protected] Copiapó, Atacama Region. The Inca deOro is located 105km north of 1.4 gr/ton Au,1.3Moz contained. Inferred +Indicated +Potentials =29.2Mton @ @2.73 gr/ton, 210Koz Au. indicated andinferred resources: 2.4Mton 20 drillholes-3,858meters .Estimated Location Resource Estimation mineralopportunities.com Copiapó Atacama Region easy accessto water andenergy. Located inaleadinggoldarea, with 0.5 mand5m. Veins are structures withwidthsbetween kg/t ofcyanide. cyanide consumptionbetween2.6and3.8 average recovery greater than90%, Cyanidation metallurgical tests show small miningshafts. It hasover3,000meters inunderground Information Relevant Geological Highlights Additional Comments 97

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Francisco CarvajalMeza Project Operator Contact inChile Filomena 300 Ha reach [email protected]%CuT. It isestimated thattheFilomena’s openpitcan Cu copper deposit. medium-scale stratabound The project haspotential asa Tenure Size Resource Estimation Resource Type Deposit Type Rafael Carvajal Private investors Mechanism Financing generating miningdevelopment projects inthearea. with verifiablepotential, turningtheminto strong optionsfor into projects of interest for exploitation byminingcompanies, located in Sierra Librillo, Taltal District, Antofagasta Region, Chile The project’s finalobjectiveisto transform theminingproperties [email protected] Target Librillo, 213kmsouthofthecityAntofagasta. The Filomena Project islocated intheSierra project lies. an unpaved road headingSEfor 3.2km,where the further 10.5 km to thenorth lies the entrance to to accessthemainhighway, Route 5North.A Access isfrom thecityofTaltal, traveling 22km Access Location Antofagasta Antofagasta Region fractures. in theform ofpatches ontherock andfillingin malachite are observed.Themainoccurrence is Ore minerals suchaschrysocolla, atacamite and is abodyofporphyryandesite. signs ofmineralization. Inthenorthernsector, there chlorite alteration is recognized, with no major east of the mine, an intrusive body with slight copper (chrysocolla, atacamite). To the south and stockworks withhematite, calcite andoxidized specularite, thecontact zonedevelopsastrong contact withabodyofhydrothermal breccia of with hypo-bisalcharacteristics (micro diorite) in In Filomena wecanrecognize abodyofandesites of [email protected]%Cut. workings. Asimulated envelope indicates aproject potential remaining mineral informer mine the area formerly minedatasmallscale,orany information from theCenizas studyandignoring potential mineralization, basedonreliable A preliminary estimate wascalculated to gauge junctions andore grades. in project literature and databases with vein determined basedonhavingsufficientbacking According to information considered to bevalid, Information Relevant Geological Highlights continuity. could considerably expand theproject’s spatial the process ofacquiringfurther holdings, which possesses otherholdings in thearea, andis in Finally, itisrelevant to note thattheproject owner present inthearea. and challengesstemming from excess calcite advantages of closeness to Taltal and the highway, potential for a medium-scale deposit with the conclusions to bedrawn thattheproject has of project documentation, allowingpreliminary stage. Extensive historical information forms part Exploration atFilomena hasreached anadvanced Additional Comments 99

Advanced Exploration breccia zones. copper-gold mineralization hosted in results confirmexcellent potential for to theLa CandelariaIOCG. Significantly, upper levelsofanIOCG system, similar Los Mantos is likely to constitute the and cobalt in the system indicated that mineralization. Thepresence ofsilver of ore bodiessuggestsIOCG-type Alteration andthe arrangement Chile LeaderChile inmetalsthat facilitate thefuture Espiga Principal Shareholder Private investors Mechanism Financing Contact inChile Los Mantos an openpitoperation. potential for rapid expansion, possibly becoming acquire 100%ownership ofanactiveminewith Los Mantos offers anexcellent opportunityto 1,560 Ha Cu -Au Cu Tenure Size Resource Type Basic Project Information Deposit Type Sergio Avendaño Espiga Project Operator project. the sizeof looking to expand company is 12 ktpy. The mantles produce Currently the Stage Development [email protected] Access and goldmine(Teck Resources). and 15kmwestofthemajorAndacollocopper La Serena, 25kmnorthofthecityOvalle, Los Mantos project islocated 60kmsouthof g/t Au. discovered, including36 m at1.4%Cu and0.2 A numberofCu intercepts havebeen Punitaqui (XianaMining)for saleofROM. such asPlanta Delta (ENAMI)andAltos de sector, withnearbymineral processing plants The project islocated inanactivemining infrastructure, energy, andthesupply chain. throughout the year, withexcellent access to The accessroutes are ingood condition Location Best Drilling Intercept Serena La Coquimbo Region 11,500 mofRC drilling,to depthsof100-300m. campaigns. Hot Chili’s drilling campaign featured activities, includinggeology, geophysics, anddrilling Los Mantos and spent US $4 million on exploration Chili acquired a purchase option agreement for 2011-2014, Australian junior miningcompany Hot Mine ore issoldto theDelta Plant(ENAMI).From a maximumof12ktpy) for over20years. Run Of Historically minedatasmallscale(5ktpy upto area. resources andreserves present intheconcession and metallurgy to estimate Cu, Au,andAg Performing exploratory work, geological studies,

Highlights Target lenticular bodiesrelated to faults. disseminations, breccia zones,andsemi-massive at least1.5km,withanumberofseamsand silver mineralization along alinemeasuring confirmed the presence of copper, gold, and Exploration activitiesanddrillingresults have copper-rich areas. assays onanomalousrocks andscintigraphy in Uranium mineralization hasbeenidentifiedfrom Additional Comments Information elevant Geological 101

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Principal Shareholder Contact inChile Sociedad Minera Arrieros S.A. Sociedad Minera Cuprita S.A.y Sociedad Minera Arrieros S.A. Sociedad Minera Cuprita S.A.y Project Operator Rosario deRengo artisanal mines. quartz alteration atthesurface, aswellsmall sulfide-tourmaline breccia, potassium andsericite- Miocene hydrothermal-magmatic arc, showing area of72,500Ha,strategically-positioned onthe 50 kmsouthofElTeniente Mine.Comprises an Located inthe Miocene-Plioceneporphyryband, Cu -Mo porphyry Copper -molybdenum Basic Project Information Resource Type Deposit Type Alvaro Florez Private Equity Mechanism Financing 85 Mt0.85%CuEq. 72,500 Ha [email protected] Tenure Size Intercept Best Drilling rich provinces. porphyry band,oneoftheworld’s mostcopper- O’Higgins Region, Chile.IntheMiocene-Pliocene Located in the Andes Mountains near Rengo, driving 45kmeastfrom thePanamerican Highway. paved andgravel road from thetown ofRengo, Easily accessible at Rosario de Rengo, along a Access Location 670 [email protected]%CuEq. evaluation exists, standing at drilling. A preliminary resource date, witharound 10,000mof most heavily developed area to María Cecilia comprisesthe www.kuraminerals.com Target O’Higgins Region Rengo ∙ ∙ ∙ ∙ ∙ evaluated anddrilled,showing goodresults. copper porphyry. Only onehasbeenpartially hydrothermal alteration cellsrelated to Rosario deRengo hostsatleastfour alteration andtourmaline breccia. over 1%Cu located beneathsurface phyllic in theRB-LBdistrict, with mineralization system, discovered between2006and2013, similar to thePaloma Sulfatos porphyry Bronces (RB-LB)band. Thesite isparticularly deposits onElTeniente –Río BlancoLos The exploration modelissimilarto other ∙ ∙ ∙ ∙ ∙ resources 311Mt0.54%CuEq. (average depth839m).Inferred indicated 2009: 4drillholestotaling 3,337m resources 283Mt0.5%CuEq. (average depth498m).Inferred indicated 2008: 4drillholestotaling 1,995m resources 171Mt0.57%CuEq. (average depth353m).Inferred indicated 2005-2007: 13drillholestotaling 4,780m administer theproperty. company (Private InvestmentFund) to the family asset and creation of a new 2005: Changeinthelegalstructure of property and attempted to negotiate for it. Several majorcompanies visited the Up to 2005:Family-controlled property. Program Description Information Relevant Geological Highlights 103

Advanced Exploration MineríaActiva Chile LeaderChile inmetalsthat facilitate thefuture Principal Shareholder Contact inChile Minería Activa Project Operator Ángela 2,850 Ha Cu -AuFe Atacama Fault. Cretaceous, Punta del Cobre Formation, veins. kilometer-scale unexploited with over5 IOCG veinsystem Tenure Size Resource Type Basic Project Information Deposit Type Martin Pavez Private Equity Mechanism Financing VTEM). (IP, Magnetometry, and geochemistry, geophysics Studies: Geologicalmapping, Development Stage [email protected] 55 kmNEofTaltal, Antofagasta Region, Chile. actual thickness, 2.21%Cu, 0.24g/tAu. 1.2% Cu, 0.17 g/t Au. Includes 2 m intercept, 1.4 m JU-15-066:6mintercept, 4.2mactualthickness, Unimpeded 3-5 Mt. Estimation: 1.3Mt@>1.5%Cu Eq. +Potential Access Best Drilling Intercept Resource Estimation Location www.mineriactiva.com Taltal Antofagasta Region (Exploration). Camarones, andEco Earth Elements Minera Filipina, Biolantánidos, Pampa Minería Indiana,Imán,Compañía investment projects includeDominga, Examples ofsuccessful managementand development levels,for arange ofminerals. mining projects orcompanies atdifferent sector. MineríaActivainvestsitsfunds in management firm that invests in the mining “Minería Activaisaprivate capital ∙ ∙ explore high-grade lodes. Artisanal miners to workalongtheveinto Project available for purchase or option. (Cu, Au,Fe). and ore grade between 1.0and3.1%Cu Eq. with thicknessbetween0.4and2.3meters, mineralization (primarysulfides andoxides) has identified3parallel veinsofmixed Exploration by Capstone during 2016-2017 Angela. medium-scale minelocated 3.5kmNof geological similarityto theJuliaMine,a indicate Cu, Au,Fe mineralization and geochemical andgeophysical models, The structural model,together withthe ∙ ∙ 8,060 moftrenches. 2,250 min10drillholes:9RC +1DDH. Business Group Description Additional Comments Descriptions Information Relevant Geological 105

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Certification Code Principal Shareholder Contact inChile NI 43-101 Larraín Vial Minería Activa/ Minería Activa Project Operator Filipina Los Colorados (>420Mt@45%Fe). (236Mt @0,5%Cu Eq), andiron company CMP’s (>60Mt @1%Cu Eq.), HotChili’s Productora recently discovered byAntofagasta Minerals scale copper-bearingporphyryandIOCG deposit Located in the same district as Astillas, a medium- Zn -PbAgAu(medium-scalemining) Cu -Mo(large-scale mining) (IOCG) deposit. ore-copper-gold High grade iron Basic Project Information Resource Type Type Deposit Ricardo delaFuente studies. geophysical targets with IOCG exploration NI 43-101 Code Reporting Private investors Mechanism Financing Stage Development [email protected] discovered. Productora and Los Colorados depositswere within anemerging district,where theAstilla, Located 38 km NWofVallenar, Atacama Region, Cu, 35.2%Fe, 0.43g/tAu. MF04: 18mtsintercept, 12mtswidth,@1.5% 50Mt @35%Fe Eq. are alsoreported (Cu/Fe/Au). NI 43-101resources [email protected]%Cu Eq. 9,150 Ha Location Resource Estimation Tenure Size Best Drilling Intercept www.mineriactiva.com Vallenar Atacama Region ∙ ∙ ∙ ∙ potential bodyiswithinFilipina’s miningproperty. Over 2/3ofthe20-30Mt≥1%Cu Eq. Toñito’s “Toñito”: Owners of100%9,150 Haofminingproperty. ∙ ∙ ∙ ∙ Next steps: drillinginToñito (USD 3million). with thesamegrades asCaminada. the current valueifToñito contains only 5Mt The NPVoftheproject couldincrease ~3times is confirmed. Up to 9,000 mofplanneddrillingifthepotential geophysical studies(IP/Res). The first stage isto confirmthepotential with Target 1 Highlights 100Mt ≥35%Fe. Iron ore fieldtarget withestimated potential> “Gemini I&II.” ∙ ∙ ∙ upward exposure onidentifiedIOCG targets. 8% USD19-38million,IRR 17%-22%)andhigh in the central Filipina and Caminada área (NPV at with ashort-term (2.5years) production project Positive Preliminary Economic Assessment (PEA) ∙ ∙ ∙ associations. Magnetite-actinolite-silica surface alteration Company) mines. Largest magnetic anomaly CMP (Pacific Mining CMP minesSosita andHuantemé are located. Located inthe samecorridorwhere theold Additional Comments Target 2 107

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Buena Vista Capital (BVC) Project Operator Contact inChile Colliguay SpA Compañía Minera Principal Shareholder Colliguay system. Gold porphyryvein increase to 3,000tons permonthhasbeensubmitted. (National GeologyandMiningService).Arequest for an month capacity hasbeenapproved bySERNAGEOMIN @ 2.4g/tAu.Aleachingplantwith1,500tons per 2.6 g/tAu,whileestimated potential insituis1.4Mt quickly. Theestimate ofthespoilheapsis26.5 Kt @ spoil from previous minesandgointo production Gold breccia-vein complex,opportunityto mineAu Au 1,400 Ha Type Deposit Tenure Size Basic Project Information Resource Type Thomas Eggers Private InvestmentFund Mechanism Financing to start production. deposit withdepositsready fast-track extractable gold companies; represents a completed byseveral Resource estimationnow Development Stage [email protected] to Colliguay (22km)alongapaved road. Route 68to thetown ofLepe (16km),thenon Quilpué, Region V, Valparaíso Region. Access with meangrades of2g/tAu. results ofupto 15.8 g/tAufor theVizcaíno Pit, Viento Norte sampled 60points,obtaining 2,430 OzAucontent. Spoil heapaverage 26,500tons @2.6g/tAu, Au content. Average [email protected]/tAu,120,000Oz Location Resource Estimation Best Drilling Intercept www.kuraminerals.com Colliguay Valparaíso Region ∙ ∙ ∙ ∙ ∙ ∙ plan. preliminary resource estimationandmining boreholes. Remaining spoil heaps, Site possesses2,760mofDDHdrilling/27 the Pullalli andFloridamines. tons @3.1g/tAu,from thespoilheapsat Sales in2017and2018amounted to 18,906 2010 andbySigaIngenieríain2014. drilling campaigns conducted byElectrumin contract. Available studiesincludeaccessto can bereviewed underaconfidentiality accounting, and legal information, which A full database isavailable, with financial, Highlights each investment. contacts andaccessto thebestfunds and managers for investment portfolio services,withawidenetworkof management company that offers a diversified Buena Vista Capital (BVC) isanindependentequity producers. and smallminingcompanies, aswellsmall-scale Since then,Colliguay has cometo the interest oflarge Ferdinand VII, withover1kg ofAuinthefirst 6years. became theleadinggold area, paying royalties to King Inca times.Later, underSpanish colonialcontrol, this Colliguay District (Marga Marga) has been known since (1.5x1 km). sericitic andintermediate argillic to advancedargillic composition ofalteration zones,from propylitic to Phorphyry coppertarget basedonthe classic facility, withAuresources inveinsandbreccia. Construction ofleachingplantandspoiltreatment transition to aporphyryenvironment. conductivity, typicalofacidicepithermalfluids in of lowmagneticsignature andhighchargeability- remains. The porphyry target coincides with an area superimposed withintermediate andadvancedargillic mapped, definingapropylitic-phyllic haloof2xkm, where aclassicarea ofporphyryalteration hasbeen The coloranomaly measures approximately 3x1.5km, The site’s porphyrypotential remains largely unexplored. Additional Comments Target 2 Target 1 Information Relevant Geological Business Group Description 109

Advanced Exploration Chile LeaderChile inmetalsthat facilitate thefuture Projects Pre-development Mining 111

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Principal Shareholder Contact inChile Golden Rim Resources Ltd. Golden Rim Resources Ltd. Owner Original orcontinuity Original a porphyry-typesystem. Polymetallic veinssurrounding Cu-Mo porphyry-typesystem mining. Open pitandunderground Paguanta Ser coloranomaly), stockwork, Qzveins. Doris (>5%Cu atsurface), andPatricia (3x2kmQz/ Porphyry targets: La Rosa (3x1kmcoloranomaly), RC. Feasibility studycompleted: >46,000mofDDHand significant increase @ 5% Zn, 1.4%Pb,88g/t Ag, 0.3g/t Au (8% ZnEq) + Patricia Target: JORC resource estimationof2.4Mt Quebrada Blanca. Located 135 kmnorthoftheCollahuasi Districtand Oligocene porphyrysystem. The lastunexplored outcropping oftheEocene- Basic Project Information type Mining Thomas Eggers Certification Code ASX Mechanism Financing JORC targets. Rosa”, “Doris”,and“Loreto” new resources at“La specified, insearch of with resources already Principal “Patricia” target Stage Development [email protected] Average ore grade (%) Mining method Tonnage (tons/year) Zn -PbAgAu and 1.24%Pb. Underground Mining:3.10%Zn,83g/tAg, 1.16% Pb. Open PitMining:@3.43%Zn,68g/tAg,and Open PitandUnderground Mining. 460,000 Life of mine Huara, Tarapacá Region. 8 Location Mineral www.kuraminerals.com Huara Tarapacá Region ∙ ∙ ∙ ∙ cells havebeendefined. At leastfour majorhydrothermal development 11,900 tons Zn,1.08MozAg,4,600tons Pb. Metal production (tons/year) and underground miningoperations. eight years, usingacombination ofopenpit Pb willbeextracted overaminelifespan of 3.75 [email protected]%Zn,78.4g/tAg,and1.22% Reserves 0.3 g/tAu(@8.0%Zneq). for [email protected]%Zn,1.4%Pb,88g/tAg,and Measured, Indicated, and Inferred resources ∙ ∙ ∙ ∙ U-Pb dated to 35Myr. rhyodacite porphyry, andquartzveining. quartz alteration, pyrophyllite, dacite to alteration, potential Cu porphyry. Sericite- Loreto: Large anomaly withunexplored copper andsilverores. fractures withsecondarymineralization of Doris: To theNEofPatricia, thisarea features an area ofover3km La Rosa: Located NNEofPatricia andwith vein systems. running E-W.Thisincludesanumberof Zn-Pb-Ag sulfidesasmineralized veins resources. Mineralization constitutes with economically viable polymetallic Patricia: Thisisthebest-explored area, hydroxides/oxides. system withcopperoxides, pyrite, andiron been interpreted asacopperporphyry intense argillic alteration. La Rosa has Information General Project Total resources 2 , thistarget features capacity, and60tlow-profile front loader. includes LHD(Load-Haul-Dump) unitswith5.4m³ are typically 12-16m.Thefleetofminingequipment 4m production development.Stope heightsvary, but operations include a 5m x 5m access shaft and 4m x The principal designparameters for underground mining terrain transport trucks. conventional excavators with 7m³ capacity and 94t all- 51 degrees. Openpitminingequipmentincludes inclination anglesthatare variablebutnotexceeding heights of20m,ramp widths of20m(duallane),and vein. Theopenpitminedesignparameters includebench one attheCatedral veinsandanotherattheLa Rosada This stage covers the operation of two open pit mines: Project Technical Information 113

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Paguanta with itsflagshipPaguanta Project. It possessesoperations in BurkinaFaso andChile, my meansofexploration andstrategic acquisition. Rim focuses ondeveloping itsportfolio ofprojects Exchange. GoldenRim’s ASX codeisGMR.Golden company publicly listed ontheAustralian Securities Golden Rim Resources Ltd is an exploration 66.5 77.8 20.4 % 110-140 Investment (MMUS$) Economic Group Description Project NPV (mmUS$) IRR (%) Operation workforce copper, andCollahuasi. mineral resources amountingto 400Mtat0.62% of BHPBilliton’s Cerro Colorado Mine,whichholds Paguanta islocated approximately 40kmnortheast open. resources at Paguanta, much of which remains potential areas for significantly expanding mineral The feasibility studyhasalsoidentifiedseveral ∙ ∙ ∙ ∙ ∙ ∙ ∙ ∙ ∙ ∙ ∙ ∙ underway. mining of500tpdwithmineral classification Scope studyin2018,consideringunderground Pb, 88g/tAg,and0.3Au. resulting inestimates of2.4Mtat5%Zn,1.4% 2017: AJORC 2012 report wasconducted, completed. 2016-2017: 6,650mofadditionaldrilling capital expenditure of66.5MUSD. underground miningof1,200tpd,withinitial Feasibility studyin2013consideringopenpit/ resistivity, TEM,andground magnetometry. m ofDDHandRC. Geophysical studiesonIP/ 2005-2012: Exploratory drilling totaling 40,000 work wasperformed until2005. mines closedintheearly 1900s,andnofurther 19th Century: small-scaleminingoperations. The Nearby Projects Information Additional Operational Company Description porphyry belt. within the most copper-rich Eocene-Oligocene Unique opportunityto evaluate aworld-classtarget Project Details to expand bothproduction rate andminelifespan. The feasibility studyidentifiedexcellent potential Additional Information 115

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Instrument type Original orcontinuity Central AsiaMetals PLC Copper BayLtd. (UK)/ Principal Shareholder Owner EIA Original Minera Playa Verde soluble copper withSX-EW. subsequent agitated acidleachingto recover by screening plus clarifiers andthickeners, with brackish water, classificationand dewatering sand (tailings), hydraulic slurry transport with Non-traditional mining:Dredging ofore-bearing Contact inChile Resolution Year 2018 Playa Verde Study supportsthisoption. suitable environmental conditionfor recreational usage,asspecifiedintheAustralian soilqualitystandards. Risk mining waste depositthatisclassedasanenvironmental liability, andreconstituting thebeachwithsandina improved condition.Thisprocess isdesignedto meettwolinked objectives:Makingeconomic useofamassive mineralized sandsdeposited onPlaya Grande, Chañaral, andthenreturn sandto thebeachinanenvironmentally This private mineral processing initiativesetsoutto useametallurgy process to recover useful substances from Basic Project Information Mining type Juan Pasten C.Gerente SEIA status Certification Code CAML London Stock Exchange AIM: Mechanism Financing Aragonita AsesoriasLtda Project Operator Approved JORC 2012 [email protected] engineering Complete Stage Development Chañaral, Atacama Region. Location content ofinterest Cu. mine tailings), principal Ore-bearing sand (old Chañaral Atacama Region Mineral 13-11-2018 70-75 51,200 8,640 Metal production (tons/year) 37,000 Reserves (kton) Qualification Resolution) RCA Date (Environmental Investment (MMUS$) Total resources (kton) alongside thecoastline. channels thatledto theformation ofwater pools carried mud and waste to the beach, and opened as welltherecent impact ofalandslide that of minetailings overaperiod ofmore than40years, area thathashistorically beenaffected bydisposal sand, enhancing environmental conditions in an Chañaral, andto rebuild thebeacheswithprocessed copper ore processing) thatmake upPlaya Grande, processing themineralized sands(oldtailings from copper (copper concentrate and cathodes) by The project’s general objectiveisto produce fine Project Description 117

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Playa Verde and leadproduct atSasaMineinMacedonia. operations in Kounrad, Kazakhstan, as well as zinc Metals PLC, aBritishcompany withcoppermining Copper BayLtd is75%ownedbyCentral Asia Project inAtacama Region, Chile,asitscore asset. holds 100%ownership overthePlaya Verde British company Copper BayLtd formed in2010, Minera Playa Verde Limitada, asubsidiaryofthe Average ore grade (%) Mining method RCA tonnage (tons/month) 0.24 %CuT plant. Dredging andsand-water transport to 417,000 Economic Group Description Population ofChañaral UrbanArea. Environmental AssessmentSystem. their participation inthe process regulated bythe early participation process for stakeholders, priorto Project developmentbeganin2011,withavoluntary intends to mine. old minetailings thatthePlaya Verde project now beach, creating abeach ofmetal-bearing sandsor caused aprocess ofsedimentation onto the original On reaching thesea,wave actionandtidaldynamics working to recover copperfrom thespenttailings. sprang upalongthecourse oftheSaladoRiver, scale mininggroups andsomeindustrialoperations to itsmouthonChañaral Bay. Anumberofsmall- Andes, whichwere carried downtheSaladoRiver at elevationsofover2,000meters inthehigh polluted byminetailings from operations located From 1938to 1975Playa Grande, Chañaral was center ofChañaral. plant isto besited some3.4kmfrom thetown Chañaral, inAtacama Region. Themetallurgical Limitada, is located inthedistrictandprovince of Playa Verde, aproject ownedbyMinera Playa Verde Life of mine 7 Project Technical Information Company Description 30 Closure workforce 96 Operation workforce 240 average Construction workforce authorities from start ofdevelopment (2011). Voluntary participation bycommunityand will notbemodifiedbytheproject. River to theseaisto beused;surface water quality Brackish groundwater flowingfrom theSalado Additional Information Water supply 119

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Resolution Year Instrument type Owner Coro Mining Principal Shareholder 2018 DIA Coro Mining Contact inChile Marimaca Open pitmining. updated, soengineeringstudieswillbereformulated inthefuture. electro-winning (EW).Theproject hasachievedfavorable exploration results andresources are currently being be produced using the conventional methods of crushing, agglomeration, leaching, solvent extraction (SX), and year, going24 kmto theexistingIvanPlantfacility, where 10,000tofhigh-purity 99.99%coppercathodeswill north ofAntofagasta, Region II,Chile.Theproject includesopenpitminingandtransport of1.8Mtore each Coro Mining’s MarimacaProject isbuiltonacopperoxide depositsuitable for openpitmining,located 45km type Mining Basic Project Information prospection. involve growth through started, because 2020 will approved DIAhasnotbeen Construction under the Luis Tondo, CEO SEIA status Certification Code Approved NI 43-101 Exchange (TSX) “COP” Toronto Stock Mechanism Financing Stage Development [email protected] 16 ** Life of mine 1 ** Entry month 2018 ** Entry year 08-01-2018 ** Entry date Mejillones, Antofagasta Region. Location www.coromining.com Cu 06-07-2018 23* Mejillones Antofagasta Region Resolution) Qualification (Environmental RCA Date (MUS$) Investment Mineral exploration campaigns. the originalproject asapproved in2018,dueto goodresults from * Information underreview dueto thelarger scale taken onby exploration results. to increase inreserves following strong Cut-off @0.32%Cu. Underreview due 24.621 Mtofreserves (Probable+Proven) Reserves content. b) 43.0MtInferred at 0.52%,224kt copper content. a) 70.4MtM+Iat0.60%,420kt copper Total resources facility)**. 10,000 tons ofcoppercathodesperyear(Iván/Rayrock SX -EWprocessing plant withproduction capacity of a decade. resource estimates to generate a project lasting at least by volcanics.Theproject possessessufficientmineral numerous manto depositsinthesameregion are hosted country. Marimacaishosted byintrusiverocks whilethe open upnewfrontiers for discoverieselsewhere inthe challenges accepted wisdom about exploration and may Project. Marimacarepresents anewtypeofdepositthat Coro isfocused ondevelopingitsflagshipMarimaca ** Information taken from theRCA approved in2018. Additional Operational Information Project Description 121

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Marimaca and surrounding areas. 300 square kilometers, includingtheproject itself and controls asignificantminingdistrictcovering share code COP. It fully owns the Marimaca project Coro stock islisted ontheToronto Exchange under new resources. Under reformulation for newproject based on following excellent exploration results. Under review dueto increase inproject scale Under review dueto increase inproject scale. Economic Group Description (MUS$/year) EBITDA inregimen Project NPV (MUS$) Cash cost (US$/lb) skilled localworkforce andaccessto water. ports, andasulfuric acidterminal andplant,witha infrastructure, including highways, electrical lines, Marimaca willbenefitfrom existing nearby with relatively modestcapital investment. privileged locationcouldallowitto bedeveloped la Costa), nearAntofagasta and Mejillones.This elevation in thecoastal copperbelt (Cordillera de development project due to itslocationat low in Chile,the Marimaca resource isahigh-profile With a dearth of new copper exploration discoveries important recent copperdiscoveries. Marimaca is quickly becoming one ofChile’s more its fully ownedflagshipcopperproject, Marimaca. operating inChile,currently centered ondeveloping exploration, development,andminingcompany Copper andGoldinSpanish) isaCanadian Coro Mining(from thewords “CObre” and“oRO”, 30 ** Closure workforce 135 ** Operation workforce 100 ** Average pitore grade (%) 0.58% CuT* Mining method RCA tonnage (tons/month) Open Pit. 98,819 ** Construction workforce Company Description exploration campaigns. the originalproject asapproved in2018,dueto goodresults from * Information underreview dueto thelarger scale taken onby by Coro. program valuedat US$ 12million,financedentirely Tarso -are currently underaPhaseII exploration to thewestandnorth-La Atómica, Atahualpa, and The areas immediately surrounding Marimaca1-23 south. to 2kilometers east-westand8kilometers north- larger MarimacaProject, covering8areas runningup The PhaseIzonenowforms thecenter point of a went onto publishadefinitivefeasibility study. of Measured andIndicated resources. In2018Coro compatible withNI43-101,amountingto 48Mt a Mineral Resource Estimate for copperoxide program thatin2017ledto thepublicationof Marimaca 1-23,thefocus ofaPhaseIexploration Marimaca was discovered inanarea knownas Project Details ** Information taken from theRCA approved in2018. 14 kmfrom amajorhighway. km) andAntofagasta (60km).Itisalsolocated just be necessarydueto theproximity ofMejillones(25 supply capacity (25km),andnoencampmentwill (25 km),acidsupply capacity (25km),andwater to infrastructure suchasenergy (25km),ports in resources. The site islocated inan area close with highly positiveresults, leadingto increases The project hasreceived twoexploration campaigns Wells andpurchases from third parties. following excellent exploration results. Under review dueto increase inproject scale Water supply Additional Information Project Technical Information 123

Mining Pre-development SEIA status Approved Chile LeaderChile inmetalsthat facilitate thefuture Instrument type Owner Geominco Principal Shareholder Consultation Pertinence Geominco Contact inChile Tornasol Average ore grade (%) Mining method RCA tonnage (tons/month) 0.8% -1.2%CuT Open Pit 4,400 Open pit. type Mining Jorge Orellana Resolution Year Certification Code 2018 NI 43-101 Sociedad porAcciones Mechanism Financing Study. Pilot andFeasibility Stage Development [email protected] Calama, Antofagasta Region. Cu 10 Life of mine 14.60% 911,119 2.4 Location Investment (MUS$) IRR (%) Project NPV (US$) Resource Type www.geominco.cl Antofagasta Region Calama subsequent reuse asbuilding materials. will betreated with limeorcarbonate substances, for fine copperandrequired elements.Waste material separation process, whichisknown as Selme,obtaining residual solids,andtheconcentrate enters theionic leaching step ispassed through a band filter to remove receptacles called trommels. The PLS from this equipment andthenleachedincylindricalindustrial from theTornasol Mine,whichwillbecrushedinsealed with lowenvironmental impact, processing material copper extraction pilotplantbasedonhightechnology The Tornasol MiningPlantcomprisesamobilemodular Project Description from theleachsolution(PLS). Mo, Zn,Pb,REE,As,Hg,Uand Th,etc. directly The benefitsofextracting metals suchasCu, ionic state, insolution(PLS). extraction system basedonelementsinan Selme technology isaselectivemetal extraction ofmetals andother elements. and agglomeration. Selme, selective Technological innovation:Trommel leaching Information Additional Operational 125

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Tornasol currently possessestwooperational plants. the production ofGrade Acoppercathodes. It providing services to Minera Licancabur S.A. with scale mining,plantconstruction,andoperations, activities inRegion IV, for exploration andsmall- on copperresults, Geomincodecidedto start up Region IV, andtheMetropolitan Region. Based at theserviceofmining companies inRegion II, mining andreal estate areas, placingknowledge of offering quality products andservicesin who decidedto take onthebusinesschallenge trained attheUniversidad Católica delNorte, in 1995byJorge Orellana Orellana, ageologist clients’ needs.Geomincoisacompany founded for products andservicesthatfully meetour projection through to implementation andstartup deems necessary, from advisoryservices and Chile; participating inwhatever stages theclient geology, mining,andreal estate withinandoutside Offering professional servicesinthefieldsof 576 Metal production (tons/year) 528 Reserves (kton) drilling campaigns). Geological bodybeingdefined(new Economic Group Description Total resources (kton) 30-10-2018 Groundwater (350l/sapproved). deposit intheshort,medium,andlongterm. permitting operational developmentofthe the lower section for approximately 15years, shows potential for miningdevelopmentin located neartheoldTornasol Mine.Thedeposit prospecting thiscopper porphyrydeposit, and continueswiththeideaofopening Old drilling,roads, and fieldworkwillbeused % CuS. deposits withanaverage ore grade of0.6to 0.8 near to thecityofCalama; theseare verylarge those oftheprincipal miningdepositslocated The characteristics ofthedepositare similarto oxides andsulfides. type deposit with copper mineralization, mainly known as Cerro Bayo. It is a copper porphyry Canyon; the mine is located onanisolated hilltop Radomiro Tomic Deposit,ontheQuebrada Paqui Calama District,Antofagasta Region, nearthe Tornasol isadepositlocated inPampa Cere, 24 Resolution) RCA Date (Environmental Qualification Water supply Operation workforce Company Description 127

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Instrument type SEIA Status Owner Nexo Equity Partners Principal Shareholder EIA Approved Mountain Minera White Cerro Blanco levels >95%TiO open-pit method to concentrate themineral ore at production project.Extraction willbeexecuted inan Blanco area, Freirina District.This isChile’s first rutile from natural high-grade depositslocated intheCerro processing, andtransport ofrutileore (titanium dioxide) Cerro Blancoisaproject whichcomprisesthemining, Open Pit Project Description Type Mining 2 . Carlos Perez Salas NI-43-101 Venture Capital Firm SRL Company/ Financing Mechanism Certification Code Resolution Date 2015 Complete engineering. Stage Development [email protected] Blanco. Freirina, Atacama Region, Cerro Rutile (TiO 21 Life of Mine 20-may-15 238 Location Qualification Resolution) RCA Date (Environmental Investment (MMUS$) nexocapital.wpengine.com Mineral 2 ) Freirina Atacama Region 70,000 (rutileconcentrate, TiO Metal production (tons/year) 81,500 Reserves (Kt) 87,500 Total resources (Kt) 2 ). 100 Closure workforce 462 Operation workforce 733 Construction workforce 129

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Cerro Blanco Water Pumping System (Desalination Plant)440l/s. and efficiencyofenergy generation assets.” production of unpolluted water, sustainability, minimizing risks and waste while maximizing and technology companies, withthegoal of with energy efficiencysolutionproviders Capital Partners operates via strategic alliances treatment projects andenergy assets.Nexo engaged inacquiringinvestmentswater in SantiagodeChile,isanAmericancompany with itsheadquarters inPark City andanoffice “Nexo Capital Partners LLC, established in2013 Water Supply Economic Group Average pitore grade (%) Mining Method RCA tonnage (tonnes/month) 87.5Mt with1.89%TiO measured andindicated resources amounting to an investmentfund basedinUtah, USA. Possesses Project 100%controlled byNexo Equity Partners, are inplacewiththecommunities.” neighboring communitiesare good:agreements with few significant impacts, andrelations with assessment. Itsenvironmental impact islimited, has received afavorable environmental impact plant willhaveacapacity of440l/s.Theproject osmosis, and post-treatment. The desalination and ultrafiltration pre-treatment system, reverse installation ofadesalinationplantwithfiltration with eastandwestspoildumps.Alsoincludesthe pits: Las Carolinas, Noreste Distal, andLa Cantera, 1,89% TiO Open Pit 342,000 (approx.) supply viaa desalinationplant. engineering studies.Preferential access to water metallurgy tests including pilotsystem and 26,000 meters ofsurveydrillingandnumerous Excellent level ofdevelopment, with over Company Description Additional Information 2 2 . Planscoverthree mine 131

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture Contact inChile Instrument type SEIA Status Owner NUEVA PUDAHUEL S.A. Principal Shareholder Statement) DIA (Ambiental Impact Resolution) Qualification RCA (Environmental La Africana La Africana Mine. the material to themainpitofclosedLo Aguirre removal oftailings usingatailings pipeline,transferring This typeofenvironmental project comprisesthefull Processing. Tailings Basic Project Information type Mining Daniel GalleguillosR. NI-43-101 Private Equity Mechanism Financing Certification Code Resolution Date 2010 complete Detailed engineering Stage Development [email protected] Pudahuel, Metropolitan Region. Cu May 25,2010andMarch 09, 2018. 6.9 Location Qualification Resolution) RCA Date (Environmental Investment (MUS$) Mineral Metropolitan Region Pudahuel architecture project. Plan: Preliminary subdivisionproject andpreliminary Phase II:DesignofaReal Estate Strategic Master and inforce. an Environmental QualificationResolution, approved competent authorityhas issuedauthorizationunder third party withexperienceinmineclosure. The environmental liabilitiesto beperformed bya Phase I:Land habilitation: Full eliminationof place intwophases. for real estate development.Developmentwilltake it, leavingthearea free ofallrestrictions andsuitable eliminating theenvironmental liabilitiesthataffect The project compriseslandrehabilitation byfully Project Description production. process and copper sulfate pentahydrate Reserves havebeenproven; agitation leaching with BGR,Germany. and by SERNAGEOMIN under an agreement Project validated by independent consultants General Project Information Information Additional Operational 133

Mining Pre-development Chile LeaderChile inmetalsthat facilitate thefuture La Africana Industrial water. lies underneathandenvironmental liability. allowing therecuperation oflandthatcurrently Closure andAbandonmentPlanatLa Africana, implementation of an innovative process for the This experienceledNPSA to propose the management atLo Aguirre. solutions - has been working in acid drainage experience inSX -EWtreatment ofremnant Pudahuel S,A,(NPSA), agroup withextensive Since thecopperminefinishedin2000,Nueva 86 Operation workforce 190 Water supply Construction workforce Economic Group Description 880 (approx.) Metal production (tons/year) 2,400 released inJune2007. its CONGO project, thefirst version ofwhichwas Africana, NPSA developedaconceptualstudyfor decision regarding theabandonmentplanfor La resources induecourse. Thus,inorder to form a in parallel, andto generate thenecessaryfinancial developed two closure plans to be implemented achieve synergy inenvironmental activities,NPSA the defunct La AfricanaMinesite. Inorder to Aguirre facility andabandonmentplanfor implementing itssite closure planfor theLo In 2002NuevaPudahuel S.A.(NPSA) began Life of mine RCA approved 6 Entry date Company Description Reserves (Kt) Average ore grade (%) Mining method 0.38% Cu. Tailings Processing tailings pondsinthecountry. usage. Thisproject canthenbeduplicated at other rendered free ofpollutionandready for alternative Fe) and the rehabilitation of 81 ha of land that will be of valuable elements present in the tailings (Cu; Au; specially developedtechnology thatallowsrecovery The total project benefitcomesfrom the usageof Additional Information 135

Mining Pre-development Glossary of Abbreviations

RCA Resolution of Environmental Qualification DIA Environmental Impact Statement EIA Environmental Impact Assessment MUS$ Millions of United States dollars BUS$ Millions of United States dollars Mt Million of metric tonnes Kt Thousand of metric tonnes tonnes Metric ton SEIA Environmental Impact Assessment Service ha Hectares g/t Grams per tonne % Percentage or per cent m Meter km Kilometer m2 Square meters Km2 Square Kilometers Moz Million ounces Cu eq. Equivalent copper Au eq. Equivalent gold Zn eq. Equivalent zinc t Tonnes ppm Parts per million IP Induced polarization TEM Time domain electromagnetic DDH Diamond Drill Hole RC Reverse Circulation ICP Inductively Coupled Plasma Mass Spectrometry

Chile Leader in metals that facilitate the future Contact in Chile

Chile Leader in metals that facilitate the future