Ann: Big Ranch Copper Exploration and TE Phosphate update, page-2

Highlights:
• Trenching program to investigate the copper- and gold-in-soils anomalies at the Big Ranch Target underway - to date 11 trenches open and 645 channel samples collected
• Recent rock results include 1.33 gpt gold along the IP chargeability trend and 1.22% copper
• TR-01 results include 2 metres with an average grade of 0.32% copper and 16 metres with an average grade of 0.20% copper
• 91.8 line-km of 96 line-km of Induced Polarization (IP) geophysics using gradient array has been completed so far - survey mapped a very prominent chargeability anomaly
• 17.6 line-km of IP using the Dipole-Dipole array planned to follow-up on the chargeability and geochemical anomalies
• The ground geophysical programs also include 96 line-km of radiometric and magnetic surveys to cover the entire Big Ranch Target
• Big Ranch drilling commences next month
• Preparations for the upcoming public hearings as part of the permitting process of its flagship Três Estradas phosphate project