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Saskatoon April 15, 2008

Exploring Mexico North America’s New Hotspot For Mining. Saskatoon April 15, 2008. MEXICO The Best Investment Opportunity. North America. Comparison area Km 2. Canada: 9,984,670 Saskatchewan: 650,036 Mexico: 1,964,375 Sierra Madre Occidental: 289,000.

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Saskatoon April 15, 2008

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  1. ExploringMexico North America’s New HotspotForMining Saskatoon April 15, 2008 MEXICO The Best Investment Opportunity

  2. North America Comparison area Km2 • Canada: 9,984,670 • Saskatchewan: 650,036 • Mexico: 1,964,375 • Sierra Madre Occidental: 289,000

  3. Corridor Mexico Canada

  4. Overview & Forecast in MexicanMining 2008

  5. Index Summary 2007 1 Mining National Program 2007 - 2012 2 Forecast 2008 3

  6. 1 Summary 2007

  7. Investment • Investment increased at 2,156 mdd. • Employment increased 10 %. • From 481, 91 new projects began in 2007. • 214 foreign companies have invested and worked in México. • “Peñasquito” and “El Boleo” mining projects, in development, represent investment for US 2,050 million with 3,600 direct employments. • A stronger support through the opening of the Mining Chapter at the México-Canada Chamber of Commerce (CAMCHAM) and the Canadian Embassy in México.

  8. Concessions (“Mining Concessions/Claims”) • Of 24,900 total Concessions 10% were approved in 2007. • A modernization of the information technology systems has been implemented was put in place to keep ownership records digitally.

  9. Financial for General Mining Cordination GMC • Around US 500 mdd were granted to the mining sector and it’s productive chain, which represents and increased of 25 % in comparison with 2006. • Re-start of 2 mining districts trough exploration programs of 300 thousand tons of mineral for small companies. • The long term credit increased in 55 % for the capitalization of the sector, reaching US 73.7 mdd. • The program of guarantees was launched to encourage the participation of not bank financial institutions. • The Suppliers Development Program channeled US 138.5 mdd.

  10. Mexican Geological Survey • The cartographic geological coverage has reached: • mining of 48,106 km ² • linear geophysical development of 220,506 km, 10 % higher than 2006 • 30 regions were defined: • 5 for Au and Ag; • 5 for Au, Ag and Cu; • 16 for Au, Ag, Cu, Zn and Pb; • 1 for W and 3 for U. • 10 mining projects went through a bidding process and awarded to diverse companies. • Technical Consultancy was given to 65 mining projects. • Analysis of 6,039 samples of external requests.

  11. 2 National Mining Program 2007 -2012

  12. Institutional Structure Secretariat of Economy General Mining Coordination - Geological Information - Geological Assistance - Information - Support (Geological Survey of México) (Mining Promotion Division) - Finance - TechnicalSupport - Training - ExplorationProgram - Legal Certainly (Mining Division) (Mining Development Trust)

  13. Reserves • 23 world class giants mineral deposits, especially of silver, copper and gold. • 4 world class super giants deposits of silver and copper. Source: SGM

  14. Mining Investment (millions usd) Foreign 3,017 3,500 3,166 National 3,000 2,081 2,148 2,500 1,702 1,484 2,000 1,500 1,000 500 2008 2009 2010 2011 2012 2007 Source: DGPM Investment sexennial • The Government of the President Calderon will promote investments for at least US 14,693 millions of dollars. $ 14,693 mdd

  15. Canadian projects in Mexico Minefinders Corporation Ltd. Gold, silver Dolores, Chihuahua USD 450 millions War Eagle Mining Company Germanium, Galion, lead, zinc Tres Marías, Chihua USD 22 millions Pan American Silver Corp. Gold , silver Álamo Dorado, Sonora USD 130.8 millions Agnico-Eagle Mines Ltd. Gold, silver Pinos Altos, Chihuahua USD 200 millions Zaruma Resources Inc. Gold, silver, copper San Antonio, Sonora USD 266.8 millions Teck-Cominco. Gold, silver, zinc, copper San Nicolás, Zacatecas USD 103.6 millions Baja Mining Corp. Copper, zinc, cobalt El Boleo Baja California Sur USD 64.9 millions Goldcorp Inc. Germanium, Galion, lead, zinc Peñasquito, Zacatecas USD 187.5 millions Frontera Copper Corp. Cobalt Piedras Verdes Sonora USD 242.9 millions Silver Eagle Mines. Gold, silver, lead, zinc Miguel Auza , Zacatecas USD 18 millions Scorpio Mining Corp. Gold, silver, copper, lead, zinc Mina Candelaria, Sinaloa USD 22.5 millions Farallon Resources Ltd. Gold, silver, lead, zinc Campo Morado, Gro. USD 58 millions Palmarejo Silver and Gold Corp. Gold, silver Palmarejo, Chihuahua USD 124.6 millions AurResources Ltd. Copper La Verde, Michoacán USD 260 millions Goldcorp Inc. Gold Los Filos, Guerrero USD 307.3 millions Kimber Resources Inc. Gold, silver Monterde, Chihuahua USD 180 millions

  16. Mining and Explotation Activity North of Mexico

  17. Investment PromotingDivision • Promoting Competitiveness in the area • Promoting investment in the mining sector both: local and foreign • Development of a portfolio of feasible projects for the promotion investment • Relationship with State Governments • Create an Information and Monitoring Strategic System

  18. Mexican Geological Survey • Inventories of mineral resources • Exploration Program to support the small-scale mining. • Reserves certification • Mining-geological geochemestry and geophysics mapping • Geological-evaluative analysis • Modernization of geolological information service

  19. Financial for General Mining Cordination • Strengthen the resurgence of mining districts • Increase financing support for GMC. • Creating a suppliers development program • Providing training and technical assistance for GMC.

  20. 3 Focus 2008

  21. Investment • To increase investment to US 3,166 million, 32 % more than in 2007. • To keep the 1st. place in Latin America and 4th in the world as destination of investment in exploration. • To add 12 new projects of great impact. • To generate an assistance manual to help the negotiation process between companies and communities. • To attract investment based on 10 studies prepared by the GMC.

  22. Mexican Geological Survey • To reinforce and focus the generation of geologic & economical information for the attraction of investment. • To re-focus the activities of geologic, mining and metallurgical investigation to identify, to estimate and to inventory the mineral deposits of the country and to integrate a portfolio of 9 allocations. • To support the Program of small mining exploration in order to resurgence of mining Districts. • To generate a specializing group to certify mining reserves. • To promote 10 studies of regions that could contain mineral viable deposits.

  23. Financial for GMC • To finance US 550 million, to the mining sector and his productive chain, 10 % more than 2007. • To assist 6,950 companies in training, technical assistance and/or financing. • To resurgence of 4 mining districts. • To provide long term credits increasing 49 % for the capitalization of the sector and reaching US 110 millions. • To increase in 10% the participation of not bank institutions through the Program Guarantees. • To provide financial resources of US 260 millions trough the Suppliers Development Program.

  24. ExploringMexico North America’s New HotspotForMining Saskatoon April 15, 2008 Muchas gracias…

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