6. Measured &
BALBOA
DISCOVERY
Second Crusher Site Plant Site
Botija Crusher Site
6
7. Holes previously reported
New holes
0.95 % Cu and 0.43 g/t Au (1.3 % CuEq)(b)
over 200 m
2.32 % Cu and 2.28 g/t Au (3.9 % CuEq)(b)
over 124 m
7
8. W 0.39% Cu
0.11 g/t Au
0.26% Cu
0.07 g/t Au
-------------
E
221 m
-------------
317 m
0.55% Cu
0.19 g/t Au
0.41% Cu 0.49% Cu ------------- 0.63% Cu
0.06 g/t Au 0.14 g/t Au 277 m 0.24g/t Au
------------- ------------- 0.85% Cu 37 m
317 m 313 m 0.26 g/t Au
36 m
0.92% Cu
1.41% Cu 0.40 g/t Au
1.29 g/t Au 113 m
-------------
222 m
0.61% Cu
0.67% Cu
0.11 g/t Au
0.21 g/t Au
108 m
196m
2.32% Cu
2.28 g/t Au
124 m > 0.50% Cu
0 200 400 > 0.15% Cu
metres
8
9. S N
0.45% Cu
0.04 g/t Au
-------------
0.41% Cu 455 m
0.06 g/t Au 0.65% Cu
------------- 0.26 g/t Au
317 m -------------
364 m
0.30% Cu
0.04 g/t Au
-------------
320 m
0.58% Cu
0.05 g/t Au
0.61% Cu 239 m
0.11 g/t Au
108 m
0.95% Cu
0.43 g/t Au
200 m
0.54% Cu
0.09 g/t Au
32 m
0 200 400 > 0.50% Cu
metres > 0.15% Cu
9
11. Contained Contained Contained
Tonnes (1)
Cu % Cutoff Cu % Au g/t Cu Eq % Cu Au CuEq
(millions)
(billions lbs) (millions ozs) (billions lbs)
greater than
500 to 600 0.40 to 0.50 0.15 to 0.19 0.50 to 0.60 4.4 to 6.6 2.4 to 3.6 5.5 to 8.2
0.15
greater than
300 to 360 0.55 to 0.65 0.20 to 0.30 0.70 to 0.85 3.6 to 5.4 2.1 to 3.2 4.5 to 6.7
0.30
greater than
130 to 170 0.80 to 1.00 0.40 to 0.50 1.00 to 1.30 2.4 to 3.6 1.8 to 2.7 3.0 to 5.0
0.50
(1) Copper
Equivalent calculated using US $2.25/lb Cu, US $1000/oz Au, US $13.50/lb Mo and US
$15.00/oz Ag and is not adjusted for metallurgical recoveries as these remain uncertain. The
formula used is as follows Cu Eq = Cu %+ (Au g/t x 0.65) + (Mo ppm / 1667) + (Ag g/t x 0.01)
(2) UnderNational Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-
101), these potential tonnage and grade estimates are conceptual in nature, as there has
been insufficient exploration to define a mineral resource, and it is uncertain if further
exploration will result in the targeted deposit being delineated as a mineral resource.
11
13. Oyu Tolgoi 1.5
100 B lbs CuEq(c) km
Cobre Panama
50+ B lbs
CuEq(d) 1.5
Not including km
11 km
Balboa
Hole CC11-10
Pebble
160 B lbs CuEq(e) 1.5
km
13