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I. CORPORATE PROFILE

Philex Mining Corporation and its subsidiaries has two kinds of business: the metals business

under Philex mining and the energy and hydrocarbon business under Philex Petroleum

Corporation.

Philex Mining was incorporated in the Philippines in 1955 and was listed on the Philippine tock

!xchange on "o#. $%& 195'. Philex Mining& Philex (old Philippines& )nc. *P(P)+& ilangan

Mindanao !xploration Co.& )nc. *M!C)+& and ilangan Mindanao Mining Co.& )nc. *MMC)+

are primarily engaged in large,scale exploration& de#elopment& and utili-ation of mineral

resources. P(P) and M!C) are both wholly owned subsidiaries of Philex Mining through a

holding company and incorporated in the Philippines. he Padcal Mines in /enguet are operated

by Philex Mining while the /ulawan Mine in "egros 0ccidental are operated by P(P) between

anuary 199' and une $22$.

Philex Petroleum and its subsidiaries 3orum !nergy plc *3!P+ and 3!C 4esources& )nc. *3!C+

are primarily engaged in oil and gas operation and exploration& holding participating interest in

ser#eral oil and gas production and exploration acti#ities through their in#estee companies.

Philex Minings exploration strategy in the late 1962s was focused on gold exploration& resulting

in the ac7uisition and staking of a number of primarily gold claimholdings throughout the

Philippines. )n uly 199'& these gold assets& including the /ulawan Pro8ect& were spun off to

P(P). ituated in "egros 0ccidental& the /ulawan mines commenced commercial production in

anuary 199' and continued until une $22$& when it was decommissioned due to unfa#orable

metal prices. )t has since been placed on a care,and,maintenance phase.

Currently& M!C)& through its subsidiary& MMC) co#ers the /oyongan and /ayugo deposits

under the ilangan Pro8ect which is under prefeasibility stage. s of ecember %1& $211& Philex

Mining has ;5&265 stockholders& with %6.

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II. MISSION-VISION

>ision0ur #ision is to be a highly respected& world,class natural resource company committed to

deli#er excellent #alue to its in#estors& employees& and other stakeholders.

Mission

?e are a responsible mining corporation that disco#ers and processes minerals and energy

resources for the use of society.

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IV. CORPORATE STRUCTURE

V. FACTS

3irst mining company in the Philippines to ha#e earned the )nternational tandard

0rgani-ation *)0+ 1;221 certification since $22$.

@argest mining company in the Philippines

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Made the first underground block ca#e mine in the 3ar !ast

Aas produced 5.% million ounces of gold and $.2 billion pounds of copper to,date from

Padcal mine.