Ann: Maiden Iron Ore Shipment from Peru, page-3

Lots of upside here to increase the resource and perhaps attract chinese companies
to JV or take us over at a very healthy price tag.

Apurimac Iron Ore Project – JORC Mineral Resource
The Apurimac Project (Strike – 100%) has a JORC Code (2012 Edition) compliant Mineral

Resource of 269.4 Mt, consisting of:
• a 142.2 Mt Indicated Mineral Resource at 57.8% Fe; and
• a 127.2 Mt Inferred Mineral Resource at 56.7% Fe.

In addition to the current JORC Mineral Resource, there is significant exploration potential given
the deposits are open at depth and along strike (with very promising drill results including 154m @
62% Fe) with extensive undrilled gravity and magnetic anomalies.