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San Agustin Gold Project

San Agustin Gold Project

GEO2 production profile – first 5 years

GEO2 production profile

Project details(1):

  • 10 kilometres from the El Castillo Mine
  • Low initial capital - $42.6M
  • Low cash costs - $648/GEO(2)
  • After-tax IRR – 50%
  • After-tax NPV at 5% discount - $89.9M
  • Average LOM annual production – 80,000 GEOs(2)
  • Low risk project
    • Cookie cutter approach
    • Open pit / Heap leach

Gold and silver resource estimates at $1,300 gold and $20 silver:

Category
Tonnes
(millions)
Au
Grade (g/t)
Contained Au
 Ounces
(millions)
Ag
Grade (g/t)(2
Contained Ag
Ounces
(millions)
Indicated
82.2
0.32
0.85
10.7
28.26
Inferred
7.0
0.29
0.06
11.0
2.46

The Mineral Resources for the San Agustin Gold-Silver Project set out in the table above were taken from the San Agustin Technical Report dated June 10, 2016 (effective date of April 29, 2016). The Mineral Resource was estimated at a gold price of $1,300 and silver price of $20. A gold equivalent cutoff of 0.18 g/t was utilized for the resource. These amounts have been reviewed and confirmed by Thomas Burkhart, who is a "qualified person" for purposes of NI 43-101.

Click here for full mineral reserve and resource disclosure at December 31, 2016

(1)Based on the assumptions and parameters as set forth in the PEA NI 43-101 Technical Report press release dated April 29, 2016
(2)See disclaimer

Technical Reports:
June 10, 2016 – Technical Report & Updated Preliminary Economic Assessment San Agustin Heap Leach Project Durango, Mexico
February 19, 2015 – Technical Report and Preliminary Economic Assessment San Agustin Heap Leach Project Durango, Mexico
October 3, 2014 – 2014, N.I. 43-101 Technical Report On The San Agustin Project, Durango, Mexico
April 16, 2009 – 2009, N.I. 43-101 Technical Report on The San Agustin Project, Durango, Mexico

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