Santo Tomas Technical report 2011

Total tonnes at greater than 0.15 CUEQ are 1,337,724,375 or rounded as
1.34 Billion metric tonnes.

The total amount of equivalent pounds of copper is 10,351,439,887 or 10,3
billion lbs equivalent. The break down is 1,438,000 ounces of gold, 69.6
million ounces of silver, and 171,214,530 pounds of molybdenum and 9
billion pound of total copper. On a gross basis, the two bodies contain 41
billion dollars value at the prices quoted in the Proven, Probable, and
Possible classes of the two pits driven by CUEQ.

There is one further mine design calculated, and summarized below. Taking
all classes of the CUEQ geological tonnes as reported in the first resource
CUEQ summary at 1.9 billion tonnes (0.355 CUEQ), an ultimate pit is
found containing 1.8 billion tonnes of an economic “reserve’ grading 0.358
CUEQ. This is 14 billion pounds of contained equivalent copper.

The first pass for an In Fill exploration program will focus on the North pit,
and additional 10 – 15 holes in the South, with targets selected that will
close to double the MI resources in the South. The North area drilling will
focus on where to place the drill hoies, which will increase the Measured
class preferentially, but dramatically, extend the Indicated both to the west
and to depth in the center of the high-grade ore zone.

This brief Technical Report will be followed up by an extensive Technical
document formatted along the requirements of the TSX NP 43-101
document

TechnicalReport-Santo Tomas-Thornton-2011