The Fruso Property is located in the province of Salta in northwestern Argentina, 15 kilometers east of the Chilean border. It is located 350 kilometers by all-weather road west of Salta and 50 kilometers by secondary roads northwest of the village of Tolar Grande. The Fruso Property is located 25 kilometers north of the railroad to Antofagasta, Chile.

The Fruso Property is made up of two claims: Fruso Este 2,340 hectares and Aracar of 3,344 hectares. Including the area of influence, the total area is 10,341 hectares.

Accessibility, Climate, Local Resources Infrastructure and Phvsiography

The Fruso Property is accessed by all-weather roads 350 kilometers from Salta. The final 70 kilometers from the village of Tolar Grande is by secondary gravel roads. Access to all parts of the Fruso Property is readily obtained by all terrain vehicles. The Fruso Este claim adit and Rio Tinto 1997 drill sites can be accessed by existing gravel roads. Travel time from Salta is about two days surface travel, with an overnight stop over at Tolar Grande.

Quartz-sericite alteration: with jarosite-live hematite stockwork

Fruso is located in the Argentine Puna, an arid region near the Chilean border. Winter temperatures at elevations of 3,500 meters to 3,800 meters are commonly between -10 to -20°C, aid summer temperatures are moderate, averaging between 20 to 30°C.

The nearest town to the Fruso Property is Tolar Grande where accommodations, telephone, meals and limited services can be found. Manpower resources, both skilled and labour, are obtained in Salta. A new 120 kilovolt power line crosses Argentina approximately 50 kilometers to the northwest. Local generation of electric power is required. No public airstrips are available, hut a private airstrip is reported at the Taca Taca Abajo Fruso Property 35 kilometers to the south. Service from Salta lo Antofagasta by means of the Chile railway that passes approximately 25 kilometers south of the Fruso Property was terminated in 2006, but may be restarted. Water resources are sparse A small spring is located on the Fruso Property, but adequate water for exploration purposes can be obtained from a larger spring on the northeast side of Salar TacaTaca.

Topography is gentle, with rolling rounded hills interspersed with broad Salar-filled valleys. Intrusive rocks underlie more rugged terrain, with local relief attaining 500 metres. The physiography of the Puna resembles that of the Basin and Range province of the southwestern United States, with block faulting generated by Andean stage deformation. Rock exposure is fair to good. Vegetation is limited to grasses and low shrubs in widely spaced wet areas.

History

Puna, Argentina exploration and development opportunity

The Mina Fruso copper-gold working is a development of a north-northwest-striking vein that may have been originally exploited by the Incas. The workings, of indeterminate age, located about 600 meters east of the Fruso porphyry showings, are an open cut and adit developed for about 100 metres on a steeply dipping set of narrow quartz-pyrite-chalcopyrite veins hosted by granodiorite. Small pits follow the structure to the north, and one to the south, but none achieved production. In 2006, M. Peral reported values of gold of 32 ppm by SESA sampling, and previous work noted gold values of 62 ppm.

The Fruso Property was originally identified by Rio Tinto by satellite imagery. In 1994, Rio Tinto completed a 22 linekilometer grid of 3.3 kilometer lines and 100 meter stations. An 1P and magnetic geophysical survey outlined a broad area in excess of 2,000 meters by 2,000 meters of anomalous 1P response and low magnetic response, 80% of which was covered by Quaternary basalt flows. In 1997, Rio Tinlo completed 991 meters of vertical drilling in four shallow RC holes. Three of the RC holes were collared in the basalt cover along the western margin of the Fruso porphyry showing, where surveys showed an 1P anomaly. Results however were discouraging, with weak copper mineralization intersected in RC hole No. 2 (202 metres at 322 ppm) and RC hole No. 3 (24 metres at 446 ppm; 44 metres at 351 ppm), and with RC holes No. 1 and No. 4 being nearly barren.

After Rio Tinto abandoned the project, Aracar Mine was acquired by Mansfield in 1998. Mansfield noted two porphyry copper occurrences, Tugle and Huaico Tugle corresponding to the main and north Fruso showings. Cateo 15850 adjoining, on the east, cateo 15056 previously owned by Rio Tinto, was applied for by Mansfield. Mansfield carried out geological mapping and geochemical sampling of the two cateos in 1998, and then sold the Fruso Property to SESA in 2004.

SESA carried out a program of geological mapping, rock and soil geochemical sampling in 2006. Starting in October 2007, nine trenches were excavated and sampled, and a geophysical survey was completed by Quantec on December 1, 2007. The geophysical survey consisted of 9.9 line-kilometers of grid, line spacing 250 meters, and dipole length 100 meters.

Geological Setting

The Puna of northwest Argentina is the part of the Attiplano, or high plateau, of the Southern Andes that covers the western portions of the provinces of Jujuy, Salta and Catamarca. The physiography of the Puna is typified by broad, graben-controlled valleys at 3,000 meters to 4,000 meters elevation separated by uplifted, horst-like, linear mountain ranges with elevations ranging to 5,500 meters. Quaternary to recent volcanoes, to 6,000 meters elevation, modify this basin-and-range morphology, increasing in abundance towards the Chilean border.

The geology of the Salta portion of the Puna is separated into three time-stratigraphic assemblages that include: basement assemblages of Proterowic to Late Paleozoic age; rift-basin assemblages of Late Mesozoic to Early Tertiary age; and Andean volcanic-sediment assemblages of mid-Tertiary to Recent age.

Basement assemblages include all Late Proterozoic to Paleozoic aged rocks. Basement rocks of the Puna of Salta can be divided into two belts, an eastern aid a western, separated by a transitional belt exposed along the trace of the Salar Pocitos lineament.

Strata of the eastern basement belt is represented by the flysh assemblages of the Late Precambrian Puniscovana Group, quartzites of the Cambrian Meson Group and Ordovician flysh of the Santa Victoria Group. Igneous rocks of the eastern belt include felsic to intermediate volcanics and intrusives of the Middle to Late Ordovician Faja Eruptiva, Early Cambrian trondjemites of the Nevado de Cachi trondjemite intrusive suite and Late Proterozoic to Camhrian Santa Rose de la Tastil granitics.

Stratified rocks of the western belt include rocks that range in age from Ordovician to Pennian. Stratified basement assemblages in the western belt are found only north of Tolar Grande, adjacent to the Chihinar and Oscara granitic complexes. Evidence for Ordovician age rocks is poorly documented and marine quartzitic sandstones and siltstones and have been correlated with the Santa Victoria. Hornfelsed sediments along the north central contact area with the granitic rocks east of Salar Llullaillaco are possibly correlative with the Ordovician. The youngest basement strata of the western helt are red bed conglomerates and sandstones of the Carboniferous Cerro Osura Formation which are conformably overlain by shallow marine platfonnal limestones of the Permian Arizaro Forniation.

Experienced management and mineral exploration team

Intrusive rocks in the western basement belt occurs as a large number of stocks and small batholiths that include Samenta, Salar Llullaillaco, Taca Taca, Tugle, Chibinar, Oscara, Macon, Navarro and Arita. These are mainly calcalkaline granitic rocks the include diorite, quartz diorite, granodiorite, quartz monzonite, granite and a wide variety of dykes of similar composition. Ages range from Late Proterozoic (670 Ma, Macon), Silurian (429 Ma, Navarro), Carboniferous (329 Ma, Taca Taca) and Early Triassic (224 Ma, sericite from Samenta). Tertiary ages are expected to be encountered. These granitic complexes represent oci of repeated magmatic activity. Depths of emplacement within these intrusive complexes range from those of the mesozone-catazone (massive to foliated granitics intimate with metamorphic rocks) to the epizone (open-spaced intrusive breccia, porphyry copper settings). Two specific rock units appear to be common to all of the intrusive complexes; a medium- to coarse-grained pinkish weathering quartz monzonite and a quartz-eye, one- to two-feldspar, biotite porphyry the is commonly megacrystic. Also typical of the suite is the regional development of specular hematite throughout the complexes, particularly within the quartz monzonite facies. The loci of the intrusive complexes represent zones of structural weakness, repeatedly operied during episodes of regional tectonism. It is along these structural zones where the copper porphyries of the Sariienta Trend were emplaced. The regional trend of the Sarnenta porphyry belt is northeasterly, although separate intrusive complexes are elongate in north northwesterly, northerly and north-northeasterly directions. The Tugle-Huaico Tugle porphyry copper-gold occurrences lie in the northern part of the Samenta trend. The porphyry occurrences are located at the northwestern margin of the Cerro Tugle intrusive complex. The Cerro Tugle intrusive complex (north of the Taca

Taca intrusive complex) represents a large scale cuesta that has been tilted to the northwest, exposing its deeper levels to the southeast and its higher levels, including porphyry occurrences, are exposed to the northwest.

Mid-Late Cretaceous to Paleocene rift-basin assemblages consist of nonmarine to shallow marine sediments and shallow marine, platformal limestones of the Salta Group, deposited on the eastern basement. Sediments of the Salta Group were deposited within a series of broad graben and half graben structural zones whose development appears to be coincident with the opening of the Atlantic Ocean.

The youngest rocks in the Puna are represented by the volcanic and sedimentary Andean assemblages of Late Tertiary to Recent age. These sedimentary rocks are all of continental origin and are mainly red-bed units composed of fanglomerate, conglomerate, sandstone, siltstone, and mudstone. Volcanic rocks range in composition from rhyolite to basalt; and include strato volcano, caldera and flow-complex depositional settings. The most dominant volcanic rocks are feldspar-hornblende to feldspar-biotite andesites, dacite flows and pyroclastics, with locally significant accumulations of rhyolite and basalt. These volcanics range in age from Miocene to Recent. Quarternary volcanic assemblages are the most extensive, and commonly constitute part of the cover with respect to mineral exploration.

The present physiographic setting of the Puna resembles the Great Basin of the southwestern United States. This blockfault regime represents the youngest deformation of the region, although, from the great variation in tilting of young pediments, it is readily apparent the deformation of the Puna and adjacent areas is ongoing. Deformation has been episodic in the Puna, from Cambrian to Rccent. Major deformation of the basement asscmblages in the Silurian established a structural grain the continued to be a control on subsequent deformation and faulting to Present times. Transpressive (transtensional) stresses associated with compression of subduction and extensional associated with transcurrent (strike-slip) faulting during the Andean stage is displayed by: thrusting of older rocks over Tertiary sediments and volcanics, north-south linear valleys, graben structures, pull-apart basins and calderas.

The Fruso Property is located at the northern end of the Samenta 80 kilometers-long porphyry belt that includes Taca Taca Arriba, Taca Taca Abajo and Samenta. The trend is manifested by several porphyry copper-gold-molybdenum systems related to Late Paleozoic granitoid bodies, notably the Sierra de Taca Taca calc-alkaline plutons date by Sillitoe at 329 Ma. Bimodal basalt flows and rhyolite ignimbrites of mid-Tertiary age the cover granitoid basement rocks in the region probably originated from nearby Volcano Aracar. Hypabysal calc-alkaline granitoid dykes and apophyses of probable early-Tertiary age copper the Paleozoic granites and are closely related to the porphyries. The main control for porphyry emplacement in the Samenta belt may be the structurally exploited competency contrast between the Paleozoic intrusions and their country rocks.

The Fruso porphyry copper-gold showings are emplaced along the northwestern boundary of the Cerro Tugle intrusive complex. The dominant granitoid rocks associated with the porphyries are coarse grained biotite quartz monzonite, fine grained to pegmatitic biotite alaskite and a variety of quartz, feldspar, hornblende and biotite-phyric porphyry dykes. Quartz-bearing porphyry dykes appear to be most closely related to porphyry mineralization. Intrusive breccias form an integral part of the showings and include late magmatic breccias associated with potash feldspar, albite and chloriteepidote alteration, open-spaced, polylitl1ic hydrothermal breccias associated with phyllic alteration, and breccias associated with propylitic alteration.

Exploration

2005-2006 Geochemical Surveys

Geochemical surveys were carried out by SESA personnel prior to the signing of the LOU by SESA and the Corporation on October 18, 2007.

Fruso Property - Outcropping

Prospecting and geochemical sampling in the Fruso area provided data from 213 sites for gold and uranium, and 147 sites for copper. Analyses were made of grab rock samples of altered and mineralized material. A 33-element inductively coupled plasma ("ICP) analysis was done on all samples, and elevated gold and silver rerun by fire assay, at ACME.

The results are as follows:

1. of the 147 sites sampled, 49 assayed >I% copper;
2. of the 213 sites sampled, 8 assayed between 10 ppm and 32.3 ppm gold, and 44 between 1 ppln and 10 ppm gold; and
3. of the 213 sites sampled 18 assayed between 40 and 340 ppm uranium

2007 Trench Chip Sampling

Trenches were excavated and sampled both prior to and subsequent to the signing of the LOU by SESA and the Corporation on October 18, 2007, and also prior to the signing of the Option Agreement on April 1, 2008.

In 2007, Trenches No. 1to 9A were excavated with an excavator, and assays for Trenches No. 1, 4 and 5 were available as of February 26, 2008. IP grid lines were soil sampled but results were not available as of February 26, 2008. Results of the copper, molybdenum and gold assays are summarized in Table 1 below:

TABLE 1: Copper, Molybdenum and Gold Data from Trenches No. 1, 4 and 5

Minerals	TR 1 (n=180)	TR 4 (n=134)	TR 5 (n=100)
Copper	Avg:228 pm >500 ppm= 12	Avg: 182 ppm >500 ppm= 7	Avg: 281 ppm >500 ppm= 6
Molybdenum	Avg: 6.5 ppm >90 ppm= 4	Avg: 10.8 ppm >90 ppm= 0	Avg: 9.3 ppm >90 ppm= 1
Gold	Avg: 2.1 ppb >10 ppb= 15	Avg: 15.5 ppb >10 ppb= 23	Avg: 2.7 ppb >10 ppb= 1

Comparative Sampling by Qualified Person

On an inspection of the Fruso Property on December 1, 2007, six samples, numbered as 83151 through 83156, were collected for comparative assay. Comparison was made with three SESA samples collected from Trench No. 1.

Comparison samples from Trenches No. 3 and 6, and from Mina Fruso South Pit were not available. The latter three samples are considered to be character samples of the sites given. The results are given in Table 2 below. Analyses were carried out by ACME. Variance between the Author's and SESA samples was judged to be within acceptable limits. Elevated gold at Mina Fruso South Pit is in agreement with elevated gold noted by M. Peral.

TABLE 2: Fruso Comparison Trench No. 1 and Character Samples

Sample No.	Location	MO (ppm)	Copper (ppm)	Pb (ppm)	Zn (ppm)	Ag (ppb)	Gold (ppb)
83151	TR 1, 103m	5.23	2387	68.1	88.6	101	22.7
L1FR52	TR 1, 103m	4.67	1446	47.6	90.0	130	27.2
83152	TR 1, 216m	31.76	7.4	421.2	20.7	771	9
L1FR108	TR 1, 216m	14.9	13.6	118.5	9.8	567	3.5
83153	TR 1, 266m	9.2	>10,000	152.7	435.4	11.5	140.3
L1FR133	TR 1, 266m	1.2	2831	39.3	193.2	218	9
83154	TR 3, 102m	2.7	8	11	9.6	10	2.4
83155	TR 6, 240m	0.5	5098	18.9	1447	319	2.4
83156	M. Fruso S. Pit	61.4	>10,000	2410	323	4762	16,106

Sampling and Analysis

Two types of samples were collected and analyzed in the recent exploration programs at Fruso: grab rock geocllem, and chip rock geochem.

Grab Samples

Grab Samples are collected to best represent the rock at the sample site: fresh, altered or mineralized. Grain size of the ore minerals of interest will dictate sample size, e.g. coarse grained gold will require a large sample to be statistically valid. Sample size commonly ranges from two to four kilograms. Universal Transverse Mercator coordinates of the site are recorded in field notes. Sample location and description are recorded in field notes and on a retained duplicate of the sample tag, the other half of the tag goes into the sample bag. A metal tag or plastic flagging tape is marked with the tag number and left at the site. Sample lag number is written on the outer bag with marking pen, and the bag securely sealed. A numbered character sample may be retained for historical records.

Rock Chip Trench Samples.

Rock Chip Trench Samples are collected from trenches previously prepared for sampling by surveying, hand or machine excavation, cleaning of loose material with a brush, hose, etc., and chaining off of sample intervals and marking off sites with spray paint, marking pen, flagging or metal tags. Chips of roughly equal size are broken from bedrock with a mallet and moil in a continuous line through the sample interval. Chips are collected in a tarpaulin laid alongside the line of sampling, then carefully transferred to a sample hag. The sample, which should weigh about 10 kilograms per lineal meter, should be an equally weighted sample of all rock material in the sampled interval. Sampled intervals range from I meter to 3 meters, seldom longer due to size considerations. The sample is tagged, the description and location of the sample site is entered into field notes and the retained half of the duplicate tag. The sample site is marked with a metal tag or flagging tape, the sample number is written on the outer bag, and the bag securely sealed. A numbered character sample may be retained for historical records.

Samples are prepared for shipment to the assay office in the following way;

(i) samples are placed sequentially into a shipping hag up to a weight of 20 kilograms;

(ii) sample numbers are written on the outer bag;

(iii) sample bag number and sample numbers contained are entered into an inventory file and a shipping manifest;

(iv) an adhesive shipping manifest number is attached to the outer shipping bag; and

(v) the total number of shipping bags and their numbers are entered into an inventory file, along with date and method of shipment.

Sample preparation for analyses is done in the lab. Preparation and analytical procedures are given in Appendix III to the Technical Report.

Security of Samples

Security of the samples in the field is effected by the geologist who supervises the collection or personally collects the samples. Scaled sample hags are stored in a securely locked storage facility at the field office prior to shipment to Salk in a locked container in a company vehicle. Samples are stored in a locked warehouse at the SESA office prior to shipment Lo the assay lab. At no time does an unauthorized person have access to the samples.

Mineralization

Two porphyry copper systems have been identified within the northwestern Cerro Tugle granitoid complex: the Fruso, formerly called Tugle, and the Huaico Tugle, located 4 kilometers to the north-northeast. These showings differ from others to the south in the Samenta porphyry belt by the presence of locally anomalous gold (i.e. greater than 1 g/t in porphyry deposits and up to 72 g/t in veins. Much of the area between the two showings is low-lying with poor rock exposure, but contains numerous sites of propylitic alteration, local zones of quartz-sericite alteration, sheeted veins, intrusive and hydrothermal breccias, secondary copper mineralization, and anomalous gold values (up to 14.8 g/t) in both veins and altered granitoids.

The Fruso porphyry deposit is exposed as a half moon-shaped body measuring about 1,200 meters north-south and 500 meters east-west. A veneer of blocky basalt flows, 20 meters to 100 meters thick, covers the southern and western extensions of the porphyry body. Thick sills of unaltered to chloritized granodiorite and alaskite are interpreted to cover portions of the porphyry to the south and east, and its extension under these units is unknown. An alternative interpretation by Rio Tinto geologist J. Mazumdar relates the distribution of unaltered biotite granodiorite over altered quartz monzonites to late, low angle west-verging thrust faults. Early potassic alteration in some quartz monzonite dykes coppertting granodiorite indicate the maximum offset due to thrusting may he on the order of 100 of meters.

Potentially economic copper mineralization is indicated by well developed Leached capping mineral assemblages, defined by the presence of "live hematite", along with jarosite and goethite in association with quartz-sericite-pyrite and quartz veins, stringers, stockworks and sheeted vein systems. Secondary copper mineralization is common peripheral to the alteration zones, as neotocite (black copper, copper pitch), chrysocolla, malachite, azurite and other coloured secondary minerals.

The earliest porphyry alteration at Fruso appears as prograde, weakly developed potassic alteration with K-feldspar, +/- chalcopyrite, magnetite veinlets, and secondary biotite replacing hornblende, the progresses outwards to a propylitic assemblage of epidote-chlorite-albite. Propylitization is generally weakly developed distal to copper mineralization Potassic and propylitic assernhlages are coppert by relatively late phyllic alteration.

Both the quartz monzonite and alaskite have been strongly sericitized over most of the exposed Fruso zone. Moderate to intense quartz stockworks and sheeted veins, marked by intense bleaching, typifies much of the sericite alteration. Pervasive sericite alteration in the most northwestern exposures is marked by the development of knots of sericite, 1 centimeter to 5 centimeters wide, without the presence of stockworks. Exposures of polyiithic quartz monzonite intrusive hreccia in the north-central part of the Fruso area are variously altered to potassic, chloritic, sericitic and alhitic assemblages, all of which contain secondary copper minerals. Along the eastern exposed margin of the porphyry, quartz monzonite and alaskite are intensely altered to a quartz-sericite assemblage over a north-south distance of about 1 kilometer. Quartz stockworks, sheeted veins and hreccias of probably explosive hydrothermal origin occur along the same trend.

Leached capping development of "live hematite" and jarosite mimic the distribution of phyllic altered stockwork and sheeted quartz vein system. Jarosite is associated with knotted sericite to the northwest. Secondary copper mineralization is common in areas peripheral to the phyllic alteration, in the northern brecccia zone and along fractures in chlorite-altered dykes within the sericite alteration. At the Mina Fruso adit, abundant secondary copper minerals (malachite, azurite, chrysocolla, turquoise) occur along a 500 meter Long zone, about 10 meters wide, the traces the Mina Fruso vein zone northwards.

The Huaico Tugle porphyry showings, located 4 kilometers north-northeast of Fruso, are exposed intermittently over a11 east-west width of about 2 kilometers, that is covered to the north and open to the south. Four zones of quartz stockwork, phyllic alteration and secondary copper mineralization have been detected in coarse grained biotite quartz monzonite, biotite alaskite, aplite and a variety of dykes and intrusive breccias. Gold values up to 420 pph are obtained from altered granitoid rocks. Between the Huaico Tugle and Fruso systems are exposures of chlorite and sericitealtered granitoid rocks and breccias and associated secondary copper minerals that indicate the two zones are integral parts of a larger system. Richards reports several quartz veins and hreccia in the Huaico Tugle area with gold values in excess of I g/t, up to 14 g/t. However, the Huaico Tugle porphyry appears to he less well- developed than the Fruso system.

Drilling

An earlier drill campaign was completed by Rio Tinto, where a total of 921 meters of vertical RC drilling was completed in November 1997. Results of the drilling are summarized from the report of J. Mazumdar. Ground geophysical surveys including dipole-dipole IP and magnetics indicated a chargeable source continuing from outcropping phyllic alteration on the east westward under post-mineral basalt flows, with a coincident magnetic high, indicating apotassic core and a phyllic halo of a porphyry system. The best hole, MFR 002, encou~ltered a thick zone of anomalous disseminated copper-molybdenum associated with weakly developed potassic feldspar alteration. Both holes, MFR 001 and MFR 003, encountered scattered copper plus molybdenum in fracture and fault controlled phyllically altered zones. Geopliysical interpretation by RTZ geologists correctly predicted the zones of mineralization and alteration encountered in the first three holes, but failed lo predict the presence of a large, unaltered block in hole MFR 004. Summary drill results from the RTZ report of J. Mazumdar are given in Appendix I to the Technical Report.

The Company entered into a drilling contract on September 18, 2008 (the "Drilling Contract") with Connors Argentina S.A. ("Connors"), a subsidiary of Boart Longyear, in anticipation of carrying out its Phase I exploration program (the "Program") on the Fruso Property, as recommended by Kenneth Dawson, Ph. D., P. Eng., of Terra Geological Consultants, in the 43-101 Report prepared by him. Boart Longyear Limited (ASX: BLY) reportedly operates in 35 countries. The Program was originally proposed to consist of 6 -- 8 HQ drill holes, of approximately 300 -- 400 metres in depth, to test the mineralization potential of a copper porphyry system at an estimated cost of US$585,000. The Company engaged Terra Geological to oversee the Program and work with the Optionor of the Fruso Property, AFRI and SESA, who had agreed to manage the exploration program and to carry out related services for the Company.

In general terms, progress at Fruso did not proceed as anticipated, in large part due to mechanical difficulties and breakdowns incurred with the drilling rig. Of the holes drilled to the conclusion of the program, Hole 2 was drilled to a depth of 72 metres before having to be abandoned due to technical difficulties, Hole 2A was drilled to a depth of 169.5 metres, Hole 3 was drilled to a depth of 400 metres and Hole 4 was drilled to a depth of 400 metres. The Company originally anticipated drilling six holes in 30 -- 35 days, but based on the average number of metres drilled per day being well below forecast, the project was behind schedule and, without adjustment, would have exceeded the Cdn$583,096 figure set out in the Company's Prospectus dated June 6, 2008. In addition, the dramatic rise in the U.S. dollar, which is the currency of the drilling contract, contributed to further increases in the Canadian equivalent cost of the Exploration Program. As a result of these developments, Metropolitan provided Connors and SESA with a notice letter dated October 31, 2008 that the Exploration Program would be finalized on completion of drilling Hole 4 and that the Fruso camp would then be de-mobilized.

Core samples were assayed at Acme Labs in Mendoza, Argentina using 32-element ICP-ES and Fire Assay on elevated Au samples. As reported in the Company's news release dated January 9, 2009:

" Copper is present as the secondary minerals neotocite and chalcocite, and primary copper minerals have been oxidized at the depths intersected. Gold values ranged up to 383 ppb or about 0.4 g/t, but averaged about 10 ppb. Mo and Ag values are low. Drill intersections indicate that copper values increase with depth and to the west. Drilling by Rio Tinto in 1998 to the west and northwest of the current drilling intersected similar copper values under a capping of recent basalt. Additional drilling in this area is recommended."

Mineral Resource and Mineral Reserve Estimates

These data are not applicable at the current stage of Fruso Property development.