Resources

 

TONNAGE

GRADE

CONTAINED METAL

 

(Mt)

Au (g/t)

Ag (g/t)

Cu (%)

Au (Moz )

Ag (Moz)

Cu (Mlbs)

DEPOSIT

INDICATED

Santa Barbara

13.3

0.63

0.7

0.09

0.3

0.3

27

Soledad

11.6

0.72

5.3

0.01

0.3

2.0

3

Los Cuyes

38.6

0.68

5.5

0.02

0.8

6.9

13

Enma

0.4

0.76

11.9

0.01

0.01

0.1

0.1

Total Indicated

63.8

0.68

4.5

0.03

1.4

9.2

43

 

INFERRED

Santa Barbara

119.0

0.52

0.9

0.10

2.0

3.5

255

Soledad

2.8

0.54

3.1

0.01

0.0

0.3

1

Los Cuyes

22.7

0.65

5.7

0.01

0.5

4.1

4

Enma

0.03

1.12

10.4

0.01

0.001

0.01

0.01

Total Inferred

144.5

0.54

1.7

0.08

2.5

7.9

260

Notes:

(1) The mineral resource estimate has an effective date of April 5, 2018. (2) There are no known issues related to environmental, permitting, legal, taxation, socio-economic, marketing, or political issues that could materially affect the mineral resource. (3) The quantity and grade of reported Inferred mineral resources in this estimation are conceptual in nature and there has been insufficient exploration to define these Inferred mineral resources as an Indicated or Measured mineral resource. It is reasonable to expect that the majority of Inferred mineral resources could be upgraded to Indicated or Measured mineral resources with continued exploration. (4) The mineral resources in this estimate were calculated with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions. (5) Gold equivalent values were calculated using the following prices: for gold a price of US$1,400 per ounce, for copper a price of US$3.25 per pound and for silver a price of US$17 per ounce. Gold equivalent values can be calculated using the following formula: AuEq = Au g/t+(Ag g/t*0.0122)+(Cu%*1.592). (6) The base case cut-off grade for the estimate of mineral resources is 0.35g/t AuEq. (7) The Indicated and Inferred mineral resources are contained within a limiting pit shell and comprise a coherent body.

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