Chile

Key Highlights:

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The Apoquindo Copper Oxide Project, located in the historic mining district of the coast range of the Antofagasta Region, is comprised of neighboring, highly prospective leachable copper deposits:
Elenita deposit: historic resource - 9.9 million tons of 1.12% Cu, at 0.2% Cu cutoff* to a depth exceeding 250 meters* / Option: US$15 million in 4 years + 1.0% NSR
Madrugador deposit: non 43-101 compliant resource - 2.14 million tons of 1.1% Cu, at 0.4% Cu cutoff* / Option: US$6 million over 4 years +1.5 NSR
Historic resources contained within small zone of a greater land package; good potential to increase resources in non-drilled areas.
Excellent infrastructure in region: rail, paved roads, power, water pipelines, ports
Project located in historic mining district in Antofagasta Region's coastal range, such as Anglo American's Mantos Blancos Mine: produced 91,700 tons of fine copper in 2006** and Antofagasta Minerals Michilla Mine
Management and directors have extensive experience working with and world's largest mining companies as well as several junior companies.

The Apoquindo Copper Oxide Project Work Program

A work program has been developed for the next 12 months for the purpose of confirming and increasing the resources of Elenita and Madrugador and the completion of a NI 43-101 Report. The work program includes: mapping of the area 1:10,000 and 1:2,000, topographic survey of the entire area, MMI sampling, trenches and surface sampling, geophysics (ground magnetics), metallurgical tests, definition of targets, RC and Core Twinning (2,000 m on Madrugador and 2,000m on Elenita), RC and Core drilling (6,000 m on Madrugador and 8,000m on Elenita), baseline environmental work and final reports.

Elenita Deposit, Chile:

Non 43-101 compliant resource - 9.9 million tons of 1.12% Cu, at 0.2% Cu cutoff* to a depth exceeding 250 meters*
Located 18 km north of Madrugador in the Sierra Valenzuela District of Region II Chile
Excellent logistics and infrastructure with good road access and just1 hour 30 minute drive time from Antofagasta
Option to acquire 100% of property after 4 years at US$15 Million plus 1% NSR

Location, Infrastructure, and History:

The Elenita Copper Deposit is located 18 km north of Madrugador Deposit, and 35 km north of Baquedano town. It is located 110 km from Antofagasta with a driving time of 1 hour and 30 m. The infrastructure and logistics are excellent in the area as electricity is very close, roads are well kept all year round, and water could be supplied from the nearby Calama-Antofagasta pipeline. Resources calculated by Princeton are 9.9 Mt @ 1.12% Cu (cut-off 0.2% Cu). This historical resource is not NI 43-101 compliant and should not be relied upon.

The Elenita Project is 1,000 hectares in size with the historic resource contained within one claim (Elenita II/20) totaling 96 hectares. The property has been owned by the Céspedes Family since 1959. Between 1960 and 1990, the property was mined with low-scale production of high grade zones. In 1993, the Céspedes Family signed a deal with Princeton Mining Corp. This company carried out detailed drilling in the claim and exploration in the surrounding areas. Total RC drilling was 19,125 metres in the Elenita claim plus 3,308 metres in the surrounding areas. In 2003, Minera Michilla (Antofagasta Minerals) carried out 818 metres of shallow RC drilling in the Elenita Claim. In 1997 Princeton dropped the Elenita option. Between 1997 and 2004 the mine had no production. Since 2004 the Cespedes Family has carried out small scale mining of high grade mantos with an average production of 1,500 t per month at an average grade of 2 to 3% Cu. Acid consumption for this material is 3-4 kg of acid per kg of Copper based on reports provided by the owners.

Mineralization is in manto type throughout some andesitic favorable beds of the Jurassic La Negra Formation, the same as the Madrugador Project. Mantos are NE/45ºSE. Mineralization, besides the manto structure, is also controlled by some fractures and faults. The copper mantos are between 1 metre and 15 m wide. Mineralization is present in Cu oxides such as Brochantite, Atacamite, Chrisocole and Malachite within the first 80 -100 metres of depth. Below 100 - 200 metres there is a leachable secondary enrichment zone with chalcosite. Mineralization is observed down to 300 metres deep with the presence of Bornite and Covellite.

Apoquindo plans to increase resources in the Elenita claim through infill drilling and drilling in the surrounding properties. The surrounding properties also include several anomalies that need to be drill tested. The Company intends to prepare an exploration stage NI 43-101 Technical Report for Elenita in 2008.

Option Terms

The terms for the option to buy Elenita from the Chilean private owners are as follows:

Payments	Amount US
On Signing	300,000
6 months	500,000
12 months	2,000,000
24 months	2,000,000
30 months	2,000,000
36 months	3,100,000
48 months	3,100,000
TOTAL	15,000,000

The offer includes a Royalty of 1.0% NSR (net after tax) on production.

Work Program

The first stage of exploration at the Elenita Property will be mapping 1:10,000 and some selected areas at 1:2,000, MMI sampling in neighboring areas, trenching and a whole ground mag survey in order to define copper anomalies to be drilled. The company will also be twin drilling to validate historic drilling done previously by Princeton. Confirmation and exploration drilling will start approximately at the beginning of 2008. Baseline environmental work is also planned during the 12 month program.

Madrugador Deposit, Chile:

Non 43-101 compliant resource - 2.14 million tons of 1.1% Cu, at 0.4% Cu cutoff*
Copper oxide mantos and veins surround and include part of the Sierra Valenzuela copper deposit
The Sierra Valenzuela deposit is held by a third party and contains a historic 31.4 million tonnes of 1.18% Cu at 0.5% Cu cut-off *
Madrugador is located 35 km north of Anglo American's Mantos Blancos mine (113 m.t. 1.86% Cu)
Excellent logistics and infrastructure with good road access and 1 hour 10 minute drive time to Antofagasta, Chile's major mining centre
Option to acquire 100% of property after 4 years at US$6 Million

Location, Infrastructure and History:

The Madrugador concession totals 817 hectares and surrounds the Sierra Valenzuela copper deposit, which was originally drilled by Rayrock Mines. The Sierra Valenzuela oxide copper deposit, currently held by a third party, contains a reported historic resource of 31.4 million tonnes of 1.18% Copper at 0.5% Copper cut-off, including 10.5 M.t. at 1.7% Copper, which was drilled prior to 2001. This historical estimate is not NI 43-101 compliant and should not be relied upon. The infrastructure and logistics are excellent in the area as electricity is very close, roads are well kept all year round, and water could be supplied by the near Calama-Antofagasta pipeline.

The Madrugador Project is located in the Sierra Valenzuela Trend Zone, which is part of the Atacama Fault System. There are several large and medium mines in the area other than the Mantos Blancos Mine, including Sierra de Miranda (Mohammed Duk), Ivan and Zar (Milpo), and Rencoret (Antofagasta Holdings). Copper oxide mineralization is principally represented by chrysocolla and atacamite within manto-type deposits hosted in gently dipping stratified volcanic and volcaniclastic rocks of the La Negra Formation of Jurassic age. There are also minor vein deposits and some irregularly shaped "bolsones" noted in the district. Minor amounts of disseminated chalcocite, chalcopyrite and bornite are also noted at Madrugador.

Apoquindo geologists believe that the manto-type copper mineralization of Sierra Valenzuela could continue underneath the present unconsolidated cover to the east, north, and west of the property, towards the Madrugador prospect. Manto type deposits are an important source of copper in Chile..

Apoquindo intends to drill the down dip potential of the stratiform mineralization for the purpose of determining the potential extension of the Sierra Valenzuela copper deposit. The Madrugador claim has been drill tested with an estimated resource in its southern portion of 2.14 M.t. at 1.1% Copper. Apoquindo will be re-locating drill sites and checking sampling to conform to NI 43-101 levels of quality assurance. The Company has retained the services of AMEC Americas Limited to prepare an exploration stage National Instrument 43-101 Technical Report for the Madrugador Project.

Option Terms

The terms for the option to buy Madrugador from the Chilean private owners are as follows:

Payments	Amount US
On Signing	150,000
12 months	350,000
24 months	1,000,000
30 months	1,000,000
36 months	1,000,000
42 months	1,000,000
48 months	1,500,000
TOTAL	6,000,000

The offer includes a Royalty of 1.5% NSR (net after tax) on production.

Work Program

The first stage of exploration for the Madrugador Property will be mapping 1:10,000 and some selected areas at 1:2,000, MMI sampling, trenching and a whole ground mag survey in order to define copper anomalies to be drilled. Confirmation and exploration drilling will start approximately at the end of 2007. Baseline environmental work is also planned during the 12 month program.

*Resources are not in compliance with National Instrument 43-101 and should not be relied upon; additional exploration will be necessary to confirm a resource calculation in accordance with NI 43-101 and the CIM classifications and there no assurances that such exploration will be successful.
**Anglo American 2006 Annual Report

Chilean Copper - Drillhole Maps and Data

	Best Drillhole Intercepts at Elenita (Cut-off > 0.2% CuT)
	Best Drillhole Intercepts at Madrugador (Cut-off > 0.2% CuT)
	Drillhole Location - Madrugador Project - Brac II 1-32 Clain
	Drillhole Location - Elenita Project - Elenita Clain
	Drillhole Location - Madrugador Project - Madrugador Norte y Sur Clain