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Trip to Pulacayo Pulacayo, Bolivia Feasibility Study Published Mine Permitted Trial Mining Phase Completed Paca, Bolivia 7km North of Pulacayo Open pit possibility Resource growth potential Pulacayo - Paca 1 NI 43-101 Technical Report on the Pulacayo property by TWP Sudamerica, Mercator Geological Services, and P&E Mining consultants, filed on Sedar on March 1, 2013. See the Appendix for details on mineral resources and reserves. 2 NI 43-101 Technical Report on the Paca property date, prepared by Micon International & filed on SEDAR on Apr 5, 2007. See the Appendix for details on mineral resources 3 NI 43-101 Technical Report on the Cachinal property, prepared by SRK Consulting Engineers & Scientists & filed on SEDAR on Apr 1, 2010, See the Appendix for details on mineral resources 2
Arrived new Uyuni Airport from La Paz by jet plane
20km from Uyuni to Pulacayo by new paved road
30 min later arrived Pulacayo. New rail, locomotive ready
Map of Pulacayo town to resource via yellow dotted adit Paca Resource Paca Resource 7km Anomaly found during Plant condemnation drilling Pacamayo Anomaly Veta Quattro Anomaly Pulacayo Resource Nap Pero Anomaly Pulacayo mine access tunnel (dotted line) Anomaly found during Plant condemnation drilling Position of Planned Concentrator & TSF Pulacayo town 6
Visited OB 6 and OB 8 areas before reaching main shaft
Highlight of OB 6 and OB 8 areas
Highlight of OB 6 and OB 8 areas
Wagons
Highlight of OB 6 area
OB8 area of 50x30x30
Approved Mill site
Approved tailing site
Historic tailing (one of many, potential to process)
Core storage (over 69,000 meters drilled)
Power on site
Rail station at Uyuni to Antofagasta port (612km)
Trial mining and recovery data Trial Mining Results Development m Total tons Ore Ag g/t Pb % Zn % Stoping tons Ag g/t Pb % Zn % 1,247 12,550 270 2.7 2.4 7,547 339 3.8 3.1 The ore was trucked 150km to Potosi and processed by 3 custom mills owned by locals capacity between 50 to 150 tonnes per day (tpd). Best recovery results were obtained as follows Concentrate Grade Recovery Pb% Zn% Ag g/t Pb% Zn% Ag% Lead Conc 47.95% 12.85% 6,295 g/t 64.62% 16.26% 72.13% Zinc Conc 8.47% 39.45% 941 g/t 9.97% 43.57% 8.41% Tailing 0.58% 0.97% 49.38 g/t 25.41% 40.16% 18.45% Total silver recovery was 81.55% Pulacayo Concentrate Grade: Silver 5,760g/t, Lead 54%, Zinc 40% The concentrate was sold to Trafigura Group EIA permits 500 tpd mill
Pulacayo Approximate area of NI 43-101 UG mineral resources and reserves(63,000m drilling) Approximate area of NI 43-101 Open Pit mineral resources Bulk pre-production mining operations (2012/13) Surface Profile Drilled 1,000m Depth Drilled 3,000m Strike???? Still to be drilled?????? *Legend in decimarcos 100g/t = 1dm 20
Paca and Pero potential Paca Resource Paca Resource 7km Anomaly found during Plant condemnation drilling Pacamayo Anomaly Veta Quattro Anomaly Pulacayo Resource Nap Pero Anomaly Pulacayo mine access tunnel (dotted line) Anomaly found during Plant condemnation drilling Position of Planned Concentrator & TSF Pulacayo town 21
Underground Silver Producers Endeavor Silver SilverCorp Great Panthers Pulacayo** Symbol EDR SVM GPR Tonne Per Day (net) 2800 1400 800 500 (project) Grade Silver (g/t) 218 227 169 270 Au (g/t) 1.5 2.3 Lead (%) 3 2.7 Zinc (%) 1 2.4 ~Market Cap (net cash) $470 million $240 million $120 million **Trial Mining Grade Used, Mill, Mining operation, and Mining Equipment not in place