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PROJECTS – Resources and 43-101 Technical Reports
 
VELARDEÑA (Excluding San Diego JV Property)   Grade
  Tonnes
M
Silver
M oz
Gold
M oz
Silver Eq.
M oz
  Silver
g/t
Gold
g/t
Measured 0.42 4.32 0.065 8.90   321 4.9
Indicated 0.95 9.50 0.126 18.35   311 4.1
Measured & Indicated 1.37 13.83 0.192 27.25   314 4.4
Inferred 1.59 16.43 0.239 33.17   320 4.7
               
EL QUEVAR      
  Tonnes
M
Silver
M oz
Gold
M oz
Silver Eq.
M oz
  Silver
g/t
Gold
g/t
Indicated 7.05 32.04 0.0 32.04   141 n/a
Inferred 6.16 30.17 0.0 30.17   152 n/a
               
SANTA MARIA      
  Tonnes
M
Silver
M oz
Gold
M oz
Silver Eq.
M oz
  Silver
g/t
Gold
g/t
Indicated 0.07 0.71 0.000 0.90   304 1.1
Inferred 0.26 2.80 0.012 3.63   331 1.4

- Velardeņa resources per Tetra Tech NI 43-101 Technical Report dated February 2015; assumes prices current as of December 2014 (Ag $17/oz and Au $1,250/oz) and a cutoff grade that generates a minimum $100 per tonne net smelter return. Silver equivalent ounces include only silver and gold resources, with equivalents calculated at 70:1.
- El Quevar resources per Pincock Allen & Holt NI 43-101 Technical Report dated June 2012.
- Santa Maria resources per Tetra Tech NI 43-101 Technical Report completed April 2015. Cut-off grade has been estimated using 90% recovery and 90% payable Au and Ag with prices current as of December 2014: Ag $17/oz and Au $1,250/oz. Equivalents calculated at 70:1.

43-101 Technical Reports

CAM NI 43-101 
Technical Report, March 2015   CAM NI-43-101 October 2009
Velardeña March 2015
43-101 Report, Tetra Tech
  El Quevar June 2012
43-101 Report, Pincock Allen & Holt

 

 
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