Cerro Maricunga Reserves and Resources


The Cerro Maricunga proven and probable mineral reserve estimate, summarized below, lies within an optimized open pit shell generated using economic and technical input parameters established in the October 2014 Prefeasibility Study. The mineral reserve represents a diluted ore tonnage. No inferred category mineral resources were used in the preparation of the mineral reserves.

The Cerro Maricunga mineral resource estimate and reserve calculation were prepared under guidelines established by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM"), CIM Standards on Mineral Resources and Reserves - Definitions and Guidelines (2014).

Cerro Maricunga Mineral Reserve Estimate

Mineral Resources

The table below summarizes the global mineral resource estimate for Cerro Maricunga unconfined by any pit model. The Mineral Resources are inclusive of the Mineral Reserves.

Cerro Maricunga Mineral Reserve Estimate

NI 43-101 Disclosure

Carlos Guzmán, a mining engineer, Fellow of the Australasian Institute of Mining and Metallurgy and a registered member of the Chilean Mining Commission, is an independent qualified person as defined NI 43-101. Mr. Guzmán is a Principal and Project Director with NCL, Santiago, Chile and is responsible for the generation of the pit shell for constrained resources and the mineral reserve estimate. Dr. Eduardo Magri, a mining engineer (University of Witwatersrand) and a Fellow of the Southern African Institute of Mining and Metallurgy, is an independent qualified person as defined NI 43-101 and is responsible for the mineral resource estimate.