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Bolivar Property

[Overview]

Exploration drilling at the Reyna de Oro mine in 2004 and 2005 demonstrated the potential for a mineable gold discovery, the size of which has yet to be determined. The 14,819 hectare regional project also hosts several other targets, including Balojaque, which consists of several quartz veins that have been sampled with assay results as high as 105 g/t gold.

At the Reyna de Oro mine, EXMIN completed 2,200 metres of drilling at the project, and delineated a nearly flat lying tabular body averaging about 20 to 30 metres in thickness with 2-4 g/t gold and locally significant copper. The body is open along strike and down dip and locally contains significantly higher grades, including 18 m of 6 g/t gold,11 m of 7 g/t gold and 3 m of 25 g/t gold. EXMIN has estimated a non-qualified gold resource of up to 100,000 ounces of gold.

Exploration around the Reyna de Oro mine indicates that mineralization may be related to a large intrusion located 2 km east of the mine that lies partly on Dia Bras’ Bolivar land package. Also, several factors indicate that there is potential for the discovery of blind skarn mineralization similar to that encountered in the surrounding region.