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MELCHOR OCAMPO PROJECT

[Overview]

The Melchor Ocampo district hosts carbonate replacement mineralization similar to that which is found at the large Peñasquito deposit, currently under construction by Goldcorp located approximately 20 km south of Melchor Ocampo. The concessions acquired by EXMIN cover three target areas: (i) Las Coloradas, (ii) Cerro Gordo-El Trebol, and (iii) San Julian.

The Las Coloradas target consists of a strongly mineralized horizon of sedimentary rock measuring 300 m by 500 m and averaging 20 to 30 m in thickness. Past drilling by Echo Bay Exploration indicates that a large silver-lead-zinc mineralized system is present; intercepts of as much as 69 m with 51.4 g/t silver, 1.2% lead, and 1.1% zinc were reported.

In April 2008, a 7-hole, 1,891 m reverse circulation drill program was completed on the Cerro Gordo target. The drilling was designed to explore a buried magnetic anomaly on the Concha concession, but the principal holes designed to test the magnetic anomaly did not reach the target due to thicker than anticipated fill material. The source of the anomaly remains unknown, but it is important to note that magnetic anomalies are characteristic of the intrusions that are associated with mineralization in this region. The wallrock alteration and minor element suite are similar to that in surrounding known deposits in the region and indicate that there is likely an intrusive present in the area, but the drilling was not able to reach bedrock in the heart of the magnetic anomaly. Holes drilled by the joint venture on the periphery of the alteration system generally intersected wide zones of anomalous indicator elements arsenic and zinc within altered limestone and shale.

The Corporation has budgeted 1,500 m of core drilling on the Las Coloradas target during 2010.