--  On the regional exploration activities, 6 new exploration targets,
    similar in size to the Guayabito and Manuela Prospects have been
    identified (see Figure 1) with one of the targets, Los Planes, being
    ready to drill. 
--  On the current 2011 drill program at the Guayabito and Manuela Prospects
    a total of 11,000 metres has been drilled of the planned 15,000 metres
    program. The results of this program combined with the previous drilling
    (13,343 metres) will allow determination of potential mineral resources
    for a National Instrument 43-101 compliant report to be commissioned
    before year end. 
--  Planning, permitting and implementation of the exploration tunnels
    continues with ground work projected to start no later than the 4th
    quarter of the year. These tunnels are essential in further defining
    mineral resources, providing grade control and producing a bulk sample
    for metallurgical testing. 
--  Work is being carried out on an internal scoping study for a 350 -
    500tonnes per day underground gold operation. Preliminary metallurgical
    studies have been completed including process flowsheets and plant
    costs. Mine planning and equipment selection, with costing has commenced
    and will be refined upon completion of potential mineral resource
    calculation. 
--  Currently in discussions with several potential Joint Venture partners
    for several of the Strategic Properties located in the Cauca Porphyry
    Belt.