Ann: Update to Shareholders , page-2

This could be the report...it was dated 27/3/12

http://www.lostiempos.com/diario/actualidad/economia/20120327/comibol-negocia-control-de-la-mina-amayapampa_165548_347042.html

and below, a translation from google.

The Mining Corporation of Bolivia (Comibol) initiated negotiations to be take charge of the exploitation of gold in the mine Amayapampa, located in the department of Potosí, with the objective to generate at least 200 million dollars to the year for the State.

The president of Comibol, Hector Córdova, informed Radio Fides that the Australian business Republic Gold will give an answer to the approach of the State to be take charge of this deposit as unique proprietary or in company.

"The Mining Corporation of Bolivia has done the proposal to operate this deposit seeing how could be fixed with the business so that the State take charge of operating the mine, we are negotiating", I indicate Córdova.

He reported that the mine Amayapampa counts on a reserve of a million ounces troy of gold, that would permit to generate for the country important incomes.

"In fact, the reserve, reckoned in more than one million Ounces, would report in annual utilities more than 200 million dollars and the necessary investment to start this project of 150 million dollars", indicated.

Córdova said that if Republic Gold decides accepts, Comibol would be able to be take charge of the operations in a year and a half.