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3D Modelling of Cehegin Historical Drilling

Data

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El Coloso Longitudinal Orebody open to the West and East

El Colos Profile Orebody open at depth

During early exploration, several holes were drilled to over 200

metres in length. These holes intersected several layers of

magnetite, however the original company - AHV subsequently only

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concentrated on only the most superficial layers which they

planned to exploit by open-pit.

El Coloso Open Pit

El Coloso Digital 3D Image of Open

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Soledad

3D Model of the

Soledad Concession,

which shows the

orebody open to the

East & West.

Several holes weredrilled to depths over200 meters, whichintersected manymagnetite layers atdepth.

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The focus of the original operating company AHV was to only prove outsufficient quantity and grades for open pit operations of up to 30 meters.

From the historical data already revised, we can concludethat there is a good potential to increase the mineralresources in the vicinity of virtually any of the depositsstudied

As a general summary of the analysis on the historicaldata we are presently doing, it can be concluded tha the

project has potential far beyond what was know up untilnow

Dr. Alfonso Gracia, Senior Geologist May 15, 2013

Orebody Open to the

Orebody Open at