Timbara

The Porvenir project is located in southern Ecuador and contains copper-gold mineralisation indicative of a well-preserved, vertically extensive porphyry system. A Mineral Resource Estimate (“MRE”) for the Cacharposa deposit totalled 396.8Mt @ 0.44% CuEq for 1.40 Mt Cu, and 1.80 Moz Au in the Indicated category, plus 96.9 Mt @ 0.37% CuEq for 0.28 Mt Cu, and 0.38 Moz Au in the Inferred category, using a cut-off grade of 0.16% CuEq.