Chile A Country of Opportunities For Investment and Development Digital PDF

Chile
A country of Opportunities
for Investment and
Development
Chile
A country of Opportunities
for Investment and
Development
The information presented in this publication is
exclusive responsilbility of the companies whose
projects are listed; including the geological
information and images incorporporated in the
project summaries.
First edition
Santiago, 2019
Editorial committee
Bárbara Fernández, Ministry of Mining;
Francisco Jofré, Ministry of Mining;
Roberto Vergara, Ministry of Mining.
Content Writing and Development Team

Ministry of Mining:
With the valuable contribution of

Minister of Mining, Baldo Prokurica;
Undersecretary of Mining, Pablo Terrazas.
InvestChile, Kura Minerals, Next Minerals, Holding Familiar Segura,
Minería Activa, Grupo Sopromin, Nexo Capital Partners, Redhill
Magallanes SpA.
Translation
InvestChile, Kura Minerals, Katherinne Cádiz
Design and layout

Motif Diseño Integral SpA
Printing
Imprex
Photography
Ministry of Mining
Index
1. Letter from government authorities ................................ 6
2. Executive Summary ............................................................................................. 8
3. Exploration Projects
Exploration Projects .............................................................................................................................15

Exploration projects contributed by InvestChile ........................................................48
4. Mining Projects
Mining Projects.........................................................................................................................................67
1. Letter from government authorities
Chile has risen as a mining power, with workers and professionals seeks to encourage, through junior exploration or medium-
of the highest quality and with the necessary infrastructure to sized exploitation projects, an industry with great potential for
sustain 28% of global copper production and 34% of lithium innovation and development.
production.
In this edition there are 7 mining exploitation projects and 25
But this position is not achieved by boasting about our exploration projects. These are located throughout Chile, with
successes, but instead by working to maintain them. The different sizes and varying stages of development. The Ministry
government of President Sebastián Piñera has called upon of Mining is committed to sustainable development and invites
the mining sector to continue to promote investment in you to review the projects presented here and to invest in a
Chile. Therefore the decision was made to publish a catalogue mining jurisdiction that adheres to the highest standards of
of mining projects available for investment, enabling us to development.
continue moving forward on a path of growth.
Chile is growing and will continue on that path thanks to the
Baldo Prokurica Prokurica Pablo Terrazas Lagos
Minister of Mining Undersecretary of Mining This initiative goes hand in hand with the government program, entrepreneurs who have forged this country. Join us to build
since it promotes medium scale companies fundamental to the more and better mining, working together we will generate
generation of employment and regional growth. The portfolio new ways to advance, innovate and develop.
Mining is the most important economic sector in Chile and it as iodine and rhenium; while in lithium we occupy the second
has been the greatest engine of development of the country. place and in silver, the sixth. Chile has a unique geological
It is an economic activity dating from before the arrival of potential, with about 22% of the world’s copper reserves and
the conquerors and, over the years, it has become a strategic 48% of its lithium reserves.
sector for progress and the creation of employment.
Besides being blessed with these resources, we are a persevering
We have a geography of extremes, where the most arid desert country, with an inherent drive towards progress. Today we
of the planet coexists with fertile fields and the Andes mountain enjoy a stable and mature democracy, with guarantees and
range, the backbone that unites the entire territory. Chile is a protection for foreign investors, as well as a robust Constitution
long and narrow country, with a coastal strip that allows rapid that provides clear rules and certainty when investing.
commercial exchange with the largest economies in the world.
All of the above is reflected in various international rankings
These unique characteristics have allowed us to become a and in our participation in the Organization for Economic
leader in the exploitation of natural resources, positioning Cooperation and Development (OECD).
ourselves as the largest producer of copper in the world, as well Baldo Prokurica Prokurica Pablo Terrazas Lagos
Minister of Mining Undersecretary of Mining
Chile. A country of Opportunities for Investment and Development 7

2. Executive Summary
Chile has a long-standing mining tradition. Since pre-Columbian times the extraction Medium-scale mining, in general, has higher production costs than larger operations
of its mineral riches has been key to the country´s development. Located at the south and is subject to important challenges, such as greater economic vulnerability and
western edge of South America, Chile has an abundance of minerals such as copper, difficulty in accessing financing, resulting in reduced operating margins in times of
nitrates, iodine, molybdenum, silver, gold, cobalt, lithium, rare earths, among other lower commodity prices. This highlights the need for technological innovation to
natural resources. Its strategic position, thanks to its extensive coastline, geological overcome the structural challenges of the sector. The introduction of technologies
potential and political stability, make it an important investment destination. that allow cost competitiveness offers a significant investment opportunity in
economic sectors such as medium-scale mining.
President Sebastián Piñera has stated his support for investment and development in
the mining sector as one of the fundamental strategies of his government program Considering the rapid expansion of electromobility worldwide, the Ministry of Mining
and as a key component of the economic and employment growth of the country. felt the need to highlight projects that are not exclusively focused on copper, but also
on other minerals forecast to experience increased demand. Cobalt and lithium, for
The vision that inspires this first edition of the book “Chile. A country of Opportunities example, are fundamental in the future of clean energy production and storage.
in Investment and Development”, is to promote investment in those sectors of the
mining industry that do not generally attract the same interest as large-scale mining This edition also includes projects for the exploitation of minerals such as titanium
projects, as is the case for medium-sized mining and junior exploration companies. (rutile) and rare earths (lanthanide oxides). The extraction of these commodities
These smaller and medium scale initiatives have a definite positive impact on the presents a significant opportunity for the future of mining in Chile and marks
development of local economies. the beginning of ambitious new industries catering to the increased demand for
sustainable technologies.
There is a need to support and encourage the medium-scale mining industry with its
unique challenges in terms of productivity and environmental and social sustainability. Figure 1: Percentage of estimated global demand according to
The objective is to increase visibility of projects with geological potential that can vehicle type 2
generate added value and foster related businesses, while adhering to the social and
environmental standards required. 2015
1% 1% 98%
3% 1% 7% 1% 88%
In Chile, the contribution of medium-scale mining is significant compared to other 2020e
national productive sectors. It is estimated that the industry generates around US$ 9% 3% 20% 68%
2.4 billion annually1, surpassing key sectors such as wine and salmon production. It 2025e
constitutes 5.2% of the national copper production (around 306,500 tons); 17.7% of 18% 2% 39% 41%
2030e
gold production, 9.4% of silver production, 45.2% of iron ore production, and 100% of
exported zinc and lead. BEVs PHVEs Full + Mid Hybrids Pure ICE Other
1 Source:Charaterization of the Medium-Scale Mining Sector. Published by Sonami and

2 Source: Driving into 2025: The Future of Electric Vehicles (JP Morgan, 2018), https://www.
based on information by Sernageomin, Cochilco and the Chile Central Bank. September
2014: https://bit.ly/2ptBs3I jpmorgan.com/global/research/electric-vehicles

Figure 2: Breakdown of portfolio projects by region and type
Pampa Camarones
Arica y Parinacota
Paguanta
Tarapacá
Sopromin, Capacho Viejo
Chile is home to three of the key raw materials used to manufacture lithium ion batteries:
Antofagasta
lithium, copper and cobalt. These minerals are vital elements for the construction Arcas, Anaquena, Incahuasi, Toro Rosa, Caletas, Angela, Eulogio
of cathodes for LCO batteries, used by Apple in the Iphone and NMC cathodes used
in Nissan´s Leaf model and Tesla´s Powerwall energy storage unit. Manganese is Don Eduardo, Cerro Blanco
another mineral of interest to the battery industry, used in the production of both NMC Atacama
and LMO battery cathodes. Interesting manganese prospects in Chile can be found in Laguna Brava, Cuenca Francisco, Laguna Escondida, Atacama
the mining districts of Corral Quemado and Fragua in the Coquimbo Region. Cobalto, Filipina, El Morado, Fénix Gold, Universo X, Mostazal
Coquimbo
The government is aware that Chile has the opportunity to become a key center of Sofía, Praga, Cerro Cóndor, Palqui, Cerro La Plata, La Corina
development in the electromobility industry, playing a fundamental role in its supply Valparaíso
chain through encouraging investment in such projects. The significant potential of Petorca
these mineral resources is undeniable: Chile has 48% of global lithium3 reserves, 22%
of global copper4 reserves and large geological resources to develop the extraction
of cobalt. Bio Bío Biolantánidos
In terms of market conditions, lithium is an attractive commodity. It has experienced

significant price increases over the last couple of years, with an average price of US$ Los Lagos Maullin Energy
13,000 per ton for Lithium Carbonate Equivalent during the first semester of 20185,
and reaching a spot price of US $ 24,750 in March 2018. Projects for its exploitation
are currently focused on four salt flats: three in the Atacama Region, near the Salar de
Maricunga, and one in the Antofagasta Region.
This edition includes 32 medium-scale mining projects (see Fiugure 2), of which 7 are
classified as exploitation projects and 25 as exploration projects. The exploitation
projects represent an estimated investment of US $ 650 million and the creation of
1,500 jobs when fully operational.
3
Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2018. Lithium: Magallanes y Cutter Cove
https://minerals.usgs.gov/minerals/pubs/commodity/lithium/mcs-2018-lithi.pdf Antártida Chilena
4
Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2018. Copper:
https://minerals.usgs.gov/minerals/pubs/commodity/copper/mcs-2018-coppe.pdf
5
Source: US Lithium Chemicals Prices (Reuters, 2018) https://www.reuters.com/article/us-
lithium-chemicals-prices/solid-demand-to-underpin-lithium-as-price-slides-in-2018- Exploration Mining
idUSKCN1LX1PF

Figure 3: Projection of global copper demand versus supply
according to committed projects 6
(Mt)
D
30 DEMAN
25
These projects are divided according to those that have not submitted environmental SUPPLY GAP
assessments, the ones that are being evaluated, and those that have been granted 20
environmental approval but have not yet proceeded with the programmed investment.
15
The investment objectives of the exploration projects presented in this edition are
focused on generating grade and tonnage estimates of the deposits, and advancing
the resource determination or reserve categorization of valuable elements such as 10
lithium, cobalt, copper, gold, silver, molybdenum, and coal, among others. We have
also included a prospective stage project involving the generation of electricity 5
via in situ gasification of coal seams in the Lake District, an area rich in this type of
mineralization. This promises to be a sustainable alternative to the current generation
of electricity through fossil fuels. 0
17 19 21 23 25 27 29 31 33 35
The mining projects detailed below include previously unexploited minerals in Chile NORTH AMERICA AFRICA
such as titanium (rutile) and rare earths (lanthanides). These commodities are in SOUTH AMERICA ASIA
demand in the relatively new aerospace and electronics industries. EUROPE AUSTRALASIA
Projects for calcium (lime), iron and copper oxides are also presented. As for copper
in particular, the development of future supply will depend heavily on the exploration ample information and technical - operational data. There is also an account of
and exploitation of new deposits. Considering current global production, it is expected the geographical, environmental and social precedents that serve as proves of the
that demand will outstrip supply in the not too distant future (see figure 3). This initiative’s size.
represents an opportunity for Chile as it aims to accelerate the exploration of new
potential copper deposits in order to maintain the country’s position as the world’s This publication was developed by the Ministry of Mining, with the support of
leading producer of the metal. InvestChile, in order to provide sufficient information to generate a first approach
between project owners and potential investors. We hope that as a result of this
The selection of exploration and mining exploitation projects included in this initiative more mining and exploration projects will be carried out in the country and
book was obtained from the companie’s interest in participating. They provided thus contribute to the development and growth of Chile.
6
Source: Copper supply crunch earlier than predicted — experts (estudio de CRU Group,
2017), http://www.mining.com/copper-supply-crunch-earlier-predicted-experts/

3. Exploration
Projects
15
Chile’s role in the global mineral
exploration outlook
By Francisco Acuña & Laura Brangwin - Kura Minerals 1 mines and for new deposits to unlock new resources to maintain future supply. Despite
the global supply and demand fundamentals, the mining sector has experienced five
Chile’s mining sector is playing a lead role in the new energy economy, supplying years of low commodity prices which has affected the level of capital available to run
minerals such as copper, lithium, gold, silver, amongst many more, needed for the producing assets, let alone invest in exploration for new mineral deposits. In Chile,
renewable solutions arising to address the growth of global population and climate the number of active exploration projects has decreased on average 15% annually in
change. recent years according to Cochilco, and within those active projects in Chile, 65% of
the exploration is led by junior mining companies, not the majors.
Copper is a vital mineral powering the new energy economy. The mineral’s conductive
properties make it valuable for application in charging infrastructure, energy storage In the last six months, the global mining sector has seen improved conditions with
and electric car motors. Copper supply, however, is set to fall short on demand as early major copper, gold and zinc mining companies investing in exploration projects with
as 2019 according to the International Copper Study Group and Wood Mackenzie; joint ventures or acquisitions, moving to strengthen the future supply chain. In Chile,
mines are running out of ore and fewer new mines are being discovered. Similarly, new junior exploration companies have arrived, development projects are going
demand for lithium is set to increase over 150% by 2025 according to Deutsche Bank ahead, and major mining companies have partnered with juniors to financially support
due to the growth in rechargeable batteries for portable devices and electric cars. advancement of exploration. Going forward, time is of the essence to grow Chile’s
Nevertheless, the rate of lithium production and new projects able to meet demand exploration to unlock the value of new deposits to meet the demand of our evolving
is a concern and its supply security has become a top priority amongst technology energy economy.
companies, who are now securing agreements directly with the world’s four major
lithium producers.
A historical mining country and regarded as a favourable jurisdiction in which to

operate, Chile remains the world’s number one copper producer. Moreover, Chile holds
the majority of known global copper and lithium reserves worldwide, which will be
indispensable in fuelling the new energy economy. However, the country’s future as
a top mining destination will depend on the level of exploration activity at existing
1
Kura Minerals, a boutique consulting firm in Santiago, recognised the need for an
incubator for the exploration opportunities in Chile. The firm’s experienced management
team comes from major mining companies and combines the key technical, legal and
business expertise to market globally a portfolio of mineral investment opportunities
in South America. Leveraging on their global mining and finance network in Canada,
Australia, USA and London, this Chile-based firm has a growing track record of completed
transactions in an array of commodities.

Kura Minerals Surge Exploration Inc.
Kura Minerals is a consulting firm that provides M&A strategy and in-country services Surge Exploration Inc. (TSX-V: SUR; OTCQB: SURJF; FRA:DJ5C) is a TSX Venture Exchange
to mining and exploration companies looking to effectively initiate a business venture Tier 2 Mining Exploration Company with head offices located in Vancouver, Canada
in South America. Kura’s management comes from major mining companies and is and a satellite international office in Santiago, Chile. The company’s goal is to locate,
a multidisciplinary team combining the key legal, technical, business and marketing evaluate, and explore early stage cobalt and lithium mineral properties in the mining-
expertise to facilitate mineral project opportunities in Chile for our international friendly jurisdictions of Canada, United States, and South America. Surge has great
network. We believe in creating value by building enduring trust with our clients. leadership with a successful team that includes a former Mines & Energy Minister,
and a prominent Investment Banker in Canada. They have a great track record for
success and have done an excellent job adding several great international mining
properties to the company. The Company also has a key relationship with Wellington
MGX Minerals Inc. Shields & Co LLC, a New York Stock Exchange Member firm, and long-time investment
banking/retail brokerage firm in New York City. Wellington Shields, and its principals,
MGX Minerals Inc. (CSE: XMG; OTC: MGXMF; FKT: IMG) is a diversified Canadian resource are the corporate advisor to Surge Exploration and key shareholders of the company
and technology company with interests in global advanced material, energy and water (news: Wellington Shields Advisory News). Wellington Shields has been retained by
assets. MGX Minerals has lithium, magnesium and silicon operations in North America the Company to assist with the development of its US corporate strategy and its
and is advancing lithium exploration projects in different salars of Chile and Argentina. various investor marketing materials, the selection of future Surge board members,
The company has secured its position as an industry leader with its flagship first-to- the structure of future US private placements (including due diligence processes and
market commercial environmentally-friendly lithium extraction technology, which investor verification services), and to assist Surge with an overall up-listing strategy
enables rapid extraction of lithium from a broad range of brines, including salars and to the NYSE or NASDAQ.
oil production wastewaters. The company’s innovation was recognized with a Base &
Specialty Metals Industry Leadership Award at the 2018 Platts Global Metals Awards.
Aethon Minerals Corp.

Aethon Minerals is a mineral exploration company focused on creating value in the
base metal space with an emphasis on copper mineral assets in Chile. The Company
has consolidated a very large prospective land position consisting of over 130,000
hectares along prolific mining belts located in the Maricunga and Antofagasta regions
of northern Chile. Aethon believes it is uniquely positioned for growth and is actively
pursuing selective copper-focused growth opportunities. Aethon is based in Toronto,
Canada, and is listed on the TSX-V under the stock symbol “AET”.

Petorca Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects
Project name: Highlights:

Target 1:
Petorca ʋʋ Attractive underexplored, gold-rich polymetallic target.
North
Multiple veins system accompanied of bonanza zones
carrying up to 21 g/t Au and 7% Cu, plus Ag – Zn credits.
ʋʋ Analogies with the 12 km south distant El Bronce Mine ʋʋ 90 m remnants of artisanally mined veins.
allows realistically to establish a 0.5 – 1 Moz gold target,
ʋʋ 2.5 – 5 m high per 2.5 – 5 m width mine operation.
plus Cu and Ag.
ʋʋ Despite decades of artisanal and small mining activity in ʋʋ 3,000 ton of Au mineralized rocks, averaging 4.5 g/t Au and
Project Factsheet the area, no drilling has been completed to date to test 2.5% Cu + 50 g/t Ag.
targets at depth.
Location:
Upper Cretaceous belt at the historical El Bronce epithermal
polymetallic district with historical production of 25 ton of Au, Target 2:
105 ton of Ag and 16,000 ton of Cu. Central
Tenure Size Deposit Type
Access:
540 ha Vein hosted; Au - Cu 140 km north of Santiago, in the Valparíso Region.
ʋʋ Several quartz veins, epithermal texture (dog tooth).
- Ag polymetallic ʋʋ Outcropping 1 – 1.8 m thick veins, peaking 21 g/t Au and
Nearest mining Project: 0.5% Cu at surface.
El Bronce
Development Stage Best Drill Intercept Valparaíso

Region
Early exploration and small --- Comments
scale mining; High-grade
Cu-Au veins outcropping
at surface. El Bronce Evident mineralization over 2.5 x 0.7 km corridor that could well
represent the northern extension of El Bronce district. Mining
activity focused only in 1 out of 27 veins recognized at surface.
ENAMI reports accounts for at least 1,356 ton @ 1.54% Cu +
0.83 g/t Au + 25.5 g/t Ag, mined artisanally in 2015. Given that
Resource estimation there is no drilling to date, the best empirical deposit size to
benchmark with is the 12 km nearby Bronce Mine, famous for
--- its > 10 m thick veins and grades > 20 g/t Au.

Paguanta Contact: Thomas Eggers teggers@kuraminerals.com 3. Exploration Projects
Project name: Highlights: Target 1:

ʋʋ Completed positive feasibility study and JORC resources Patricia
Paguanta estimate of 2.4 Mt @ 5% Zn, 1.4% Pb, 88g/t Ag, 0.3g/t Au.
ʋʋ Significant upside to increase resources supported by ʋʋ JORC resources with significant upside opportunities.
Project operator: geological, geophysical, structural and geochemical ʋʋ Positive feasibility study results.
evidences.
Golden Rim Resources Ltd. ʋʋ Continuity at depth, last assayed interval showing 12% Zn,
ʋʋ Blue sky potential on the less explored Cu porphyry targets 7.5% Pb, 1,765 g/t Ag and 1.7 g/t Au.
within the property. Untouched 3x2 km color anomaly that
could well represent an unexplored Eocene – Oligocene ʋʋ Continuity towards south: 9.8 m @ 5.5% Zn, 0.9% Pb, 43 g/t
porphyry system. Ag and 0.5 g/t Au.
Project Factsheet
Location: Loreto
Northern extension of the West Fisure, near Collahuasi (3,220
Mt @ 0.93% Cu reserves) and Teck’s Quebrada Blanca (1,275 ʋʋ 3x2 km color anomaly, that could represent the upper
Tenure Size Deposit Type Mt @ 0.51% Cu reserves). portion of a porphyry system, or another bigger polymetallic
target.
5,500 ha
Vein hosted
polymetallic; Access: ʋʋ Silica-clay and sericite alteration, multiphase dacitic to
Porphyry Cu-Mo 120 km east northeast of Iquique, Tarapacá Region. riodacitic porphyritic rocks, intense leach capping and
quartz veins.
ʋʋ Only 10 km from Queen Elizabeth Cu-Mo porphyry (Anglo
Nearest mining Project: American).
Collahuasi
Development Stage Best Drill Intercept
Feasibility study; 46,650 --- Tarapacá

Comments
DDH and RC drilling; JORC Region
Resource Estimate. Paguanta’s polymetallic high grade lodes endowment is well
known since the 19th century. Starting 2005, the area has been
systematically explored focusing to develop a Zn-Ag-Pb-Au
Tier-2 Project. Base case financial model contemplates a capex
of 66.5 MUSD, payback at 4.3 yr with an IRR1 of 17.6% and NPV2
Resource estimation of 62.9 MUSD.
Collahuasi The bluesky potential is on the less explored Cu porphyry
JORC complaint resources targets, with > 6 square kilometer alteration footprint opens
estimate totaling 2,4 Mt @ the opportunity for a major discovery.
5% Zn, 1.4% Pb, 88g/t Ag,
0.3g/t Au. 1
Internal rate of return (IRR)
2 NPV (Net Present Value)

Arcas Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects
Project name: Highlights: Target 1:

ʋʋ Porphyry exploration district covering over 80,500 ha Arcas Group
Arcas strategically located within most prospective copper belts
of northern Chile.
ʋʋ Up to 16 targets; from Caldera type to porphyry Cu
Project operator: ʋʋ Identified up to 20 targets within the Paleocene and Eocene deposits. Just the one target have been drilled, resulting
- Oligocene Belt, with at least 6 of them near ready-to-drill in a detached porphyry copper discovery, at the potassic –
Aetheon Minerals Corp. status. sericitic transition level.
ʋʋ Initial drilling at the Paleocene Belt confirms Cu porphyry ʋʋ Copper assays in the stockwork varied between 150 and
occurrence at the ideal erosional level (Potassic – Phyllic). 1,058 ppm, while Molybdenum and Gold between 40 -
Identified as a detached porphyry system, the potential 2,000 ppm and 15 - 560 ppb respectively.
Project Factsheet remains open to find blind potassic high grade cores.
ʋʋ Underexplored cluster potential; 1 x 1.8 km target consisting
ʋʋ Targets within the Eocene-Oligocene Belt are defined by of quartz tourmaline breccia with porphyry fragments, in
evidences of dacitic porphyries, phyllic alteration, Qz – Hem addition to quartz stockwork and clay - sericite alteration.
stockwork and Qz – Tour veins, and breccias.
ʋʋ Geochemical gold anomalies associated with the alteration
and stockwork and molybdenum bearing quartz veins have
Location: been also reported.
Tenure Size Deposit Type Paleocene and Eocene-Oligocene belts, near El Abra Mine (2.5
80,500
Bt @ 0.43% Cu / Freeport – Codelco) and “copper elephant”
ha Porphyry Cu-Mo Chuquicamata and Collahuasi districts.
Access:
245 km NE of Antofagasta City, Antofagasta Region.
Target 2:
Lia, Quiltro and Timon Group Comments
Nearest mining Project:
Development Stage Best Drill Intercept El Abra
ʋʋ Strategically located in the prolific Eocene – Oligocene The 80,500 ha tenure allows to take strategic land position
Early exploration - Porphyry Belt. Their central point is 50 km equally distant both in the Paleocene and Eocene - Oligocene belts, alongside
44 m @ 800 ppm Cu + Antofagasta
target definition; RC from Collahuasi District and El Abra Mine. the largest known copper porphyry deposits such as El Abra,
25 ppb Au + 60 ppm Mo Region
Drilling; geochemestry; Chuquicamata and Collahuasi. Strategically located and adding
ʋʋ Nearby many well-known porphyry exploration proyects
geophysics. more than 20 targets identified to date -with half of them
such as Cisne, Yocas and San Bartolo (Codelco) and Chitigua
with sufficient evidence to advance to a drilling campaign- the
(Southern Hemisphere).
Arcas cluster is in the front line in the race to discover the next
ʋʋ Only Lia shows evidences of past exploration (4 RC plus elephant copper porphyry.
trenches). Encouraging chances for discovering big
El Abra porphyry systems – in the world´s richest Copper belt.
Resource estimation
ʋʋ Field evidences includes dacitic porphyry outcrops, quartz –
--- sericite & argillic alteration, Qz – Hem moderate stockwork
and geochemical anomalies.
ʋʋ Quartz – tourmaline breccias. Cu oxides also visible.

Anaquena Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects

ʋʋ Opportunity to take position in a well-endowed and prolific
Anaquena mining district that host the world’s largest copper mining
operations, Escondida (BHP).
ʋʋ Proposed model suggest superimposition of Eocene
mineralization over Paleozoic systems, with a porphyry
target still untested at depth.
ʋʋ Favorable structural position within the tectonic realm of
Project Factsheet the regional Domeyko Fault System.
Location:
Eocene-Oligocene belt, near BHP - Rio Tinto’s Escondida and
Yamana’s El Peñon.

Access:
1,600 ha Porphyry Cu-Mo 206 km SE of Antofagasta City, Antofagasta Region.

Escondida
Antofagasta
Development Stage Best Drill Intercept Target 1: Comments
Region
Anaquena porphyry
Early Exploration; 4 DDH 20 m @ 0.21% Cu + 65
totalizing 1,618 m. Drilled ppm Mo
to a maximum depth of
492 m. ʋʋ 1 km x 0.5 km argillic – sericitic alteration zone. The porphyritic texture of the multistage stocks intruding the
Permian intrusives, plus the phyllic alteration developed over
ʋʋ Copper oxides are locally found in the quartz veins and in
Escondida them – in close association with Cu bearing veins – suggest
fractures within the altered rocks.
that the porphyry system is in a high erosional level, with the
ʋʋ Evidence of quartz veins and veinlets carrying Fe oxides potassic core still preserved. Drilling exploration should reach
derived from pre-existing sulfides (chalcopyrite-pyrite). deeper levels than in the past as the Anaquena argillic-sericitic
Resource estimation development could very well represent the upper expression of
ʋʋ Anomalous content of As, Sb and Ag at the surface and the
--- a deeper economic body.
presence of pyrophyllite detected by XRF.
ʋʋ Drill results show consistent argillic and sericitic alteration
with silicification.

Laguna Brava Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects

ʋʋ Ideal conditions to deploy MGX Minerals pioneer rapid
Laguna Brava lithium extraction technology, which would greatly reduce
the physical and enviromental footprint of a lithium
Project operator: operation project.
ʋʋ Scout drilling campaing reached the design depth of 120 m
MGX Minerals Inc. and confirmed the presence of lithium at depth.
ʋʋ The electromagnetic survey based on sections around
the periphery of the salar indicated the presence of high
Project Factsheet conductivity brines exceeding 100 meter thickness at the
margins of the salar.
ʋʋ Tenure control over the targeted basin, securing the land
position for project development.
Access:
Tenure Size Deposit Type 180 km east of Copiapó City, Atacama Region.
3,800 ha Lithium Brine

Salar de Maricunga
Atacama Region
Geophysics, two scout LBRC004: 201 g/L Lithium Target 1: Comments

drilling (240 m) Lithium Brine
Salar de ʋʋ The inferred basin depth ranges from 200 m to 350 m, with Results from previous and recent work all confirm that there
Maricunga the northern lobe deeper than the southern lobe. is lithium enrichment at Laguna Brava both at the surface and
with depth. The conceptual hydrogeological model derived
ʋʋ The TEM survey results indicate that the southern lobe
from geophysical survey and limited drilling data shows a
hosts a significant pool of highly conductive material
sedimentary basin, infilled with highly permeable volcanic fill.
considered prospective for lithium.
Resource estimation
ʋʋ Scout drilling failed to intercept highly conductive body
--- beneath the lagoon.

Francisco Basin Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects

ʋʋ Ideal conditions to deploy MGX Minerals pioneer rapid
Francisco Basin lithium extraction technology, which would greatly reduce
the physical and enviromental footprint of a lithium
Project operator: operation project.
ʋʋ Tenure control over the targeted basin, securing the land
MGX Minerals Inc. position for project development.
ʋʋ Identified brine target and fully permited drilling program
to be completed in 2019 in order to confirm lithium
discovery.
Project Factsheet ʋʋ Access via regional highway and established tracks which
run immediately adjacent to the edge of the salar.
Location:
Central Volcanic Zone in the foothills of the Andes mountain, 30
km south of Salar de Maricunga.
Tenure Size Deposit Type Access:

12,900
110 km east of Copiapó City, Atacama Region.
ha Lithium Brine
Salar de Maricunga
Atacama Region
Development Stage Best Drill Intercept Target 1: Comments

Lithium Brine
Geophysics, drilling (to be ---
completed early 2019). ʋʋ High concentration brine zone is around 10km2 , with Geophysical survey based on a grid of sections clearly indicates
average thickness of 70 m, and completely open to the the presence of high conductivity brines in two zones with
Salar de north. significant thickness and horizontal coverage. The presence
Maricunga
of anomalous lithium levels in the water body area located in
ʋʋ Transient electromagnetic (TEM) identified high
the Northern lagoon, which is potentially underlain by a fault
concentration brine prospective for high lithium
bound, saturated basin of undetermined thickness and the
enrichment.
Resource estimation presence of widespread felsic to intermediate volcanic rocks
--- ʋʋ 10 samples from surface brine pool covering salar; average as a lithium source. Ongoing drilling program aims to confirm a
Li = 375 mg/L, brine concentration ~190,000 Total Dissolved lithium brine discovery to deploy MGX rapid lithium extraction
Salts (TDS). technology.

Laguna Escondida Contact: Francisco Acuña facuna@kuraminerals.com 3. Exploration Projects

ʋʋ Closed basin and demonstrated hypersaline water at
Laguna Escondida surface.
ʋʋ Lithium potential estimated as Maricunga and Pedernales
Project operator: salars have a similar genesis to Laguna Escondida.
MGX Minerals Inc. ʋʋ The surrounding area is made up of felsic to intermediate
volcanic rocks that provide the source of lithium.
Project Factsheet Location:

Within the Escondida–Maricunga–Pedernales district, 58 km
northeast of Maricunga and 60 km southeast of Pedernales
salars.
Access:
Tenure Size Deposit Type 200 km east–northeast of Copiapó city, Atacama Region.
1,600 ha Lithium Brine Nearest mining Project:

Salar de Maricunga
Target 1: Comments
Lithium Brine
Atacama Region
Development Stage Best Drill Intercept ʋʋ Same district as two known productive lithium brines salars. The geology of the area is dominated by volcanic rocks
and alluvium derived from these volcanics with some older
Early stage exploration, --- ʋʋ Analysis of surface sample collected on a reconaissance
sediments in part making up the ridgelines around the project.
surface water sampling. visit returned 71.5 ppm lithium.
The area is ringed by a number of active volcanoes and vents,
ʋʋ Felsic to intermediate volcanic rocks. the elevations of which reach an average of 5,500 m in the
project area.
Salar de
Maricunga
Resource estimation
---

Incahuasi Contact: Tim Fernback tfernback@surgeexploration.com 3. Exploration Projects

ʋʋ Tenure control over the Chilean territory extension of
Incahuasi the salar (that extends over 1,200 km2 accross the Chile-
Argentina lithium triangle).
Project operator: ʋʋ Exploration work carried by ASX company PepinNini Lithium
Ltd in the Argentinian territory highlights 296 mg/L lithium
Surge Exploration Inc. at surface.
ʋʋ Favourable working conditions and infraestructure, with
national power grid and paved road access only 22 km and
Project Factsheet 20 km respectively.
Location:
Miocene Puna Salars, near Salar de Atacama SQM and
Albemarle lithium operations.
Tenure Size Deposit Type Access:

3,169 ha Lithium Brine
170 km SE of San Pedro de Atacama, Antofagasta Region.

Salar de Atacama
Antofagasta
Target 1: Comments
Development Stage Best Drill Intercept Region
Lithium Brine
Early stage exploration. ---
ʋʋ Reported results by Advantage Lithium Corp in Argentina The Incahuasi salar is located on the national border between
indicate 326 ppm lithium and 13,200 ppm potassium in pit Chile and Argentina at an elevation of 3,260 m. The proposed
Salar de samples. Incahuasi lithium exploration concessions lie beside existing
Atacama lithium exploration operations in Argentina that are held by
ʋʋ Similarly, PepinNini Lithium Ltd reported 296 ppm lithium
other publicly traded mining companies. The Incahuasi Lithium
at surface.
Project benefits from excellent infrastructure, energy supply,
ʋʋ Easy access and suitable conditions to carry drilling and highway access.
Resource estimation programs.
---

Atacama Cobalto Contact: Tim Fernback tfernback@surgeexploration.com 3. Exploration Projects

ʋʋ Most advanced cobalt exploration project in Chile, on
Atacama Cobalto track for complaint reserves estimation and feasibility
evaluation. Target 1:
IOCG Co-rich breccia
Project operator: ʋʋ Proven Cobalt mineralization is observed throughout the >
Surge Exploration Inc. 20,000 m drill holes performed to date. Co anomaly peaks
0.83% with intercepts continuity over 162 m @ 0.24% ʋʋ Over 20,000 m drilled to date.
Co and 14 m @ 0.63% Co; enriched with copper, gold and ʋʋ Consistent cobalt mineralization and identified mineralized
molybdenum. body.
Project Factsheet ʋʋ Mineralization remains open towards SW under gravels, ʋʋ Direct relationship between cobalt and ferrous
based on same magnetic signature, maintaining upside in mineralization.
untested targets.
ʋʋ Project under option agreement by Surge Exploration Inc.
to earn-in up to 70% from Compañia Minera del Pacífico
S.A. at feasibility study completion.
Tenure Size Deposit Type Location: Target 2:

South West Extension
1,064
Cretaceous IOCG belt, located 3 KM East of Cerro Iman Mine
ha IOCG-Cobalt (that reached 20 Mt @ 60% Fe production in the 60’s) and 24
km northwest of Lundin’s Candelaria (1 Bt @ 0.65% Cu, 0.14 g/t
ʋʋ 1,800 x 1,000 m untested Magnetic anomaly.
Au, 2.1 g/t Ag).
ʋʋ Existing drill holes suggest a mineralization vector towards
Access: SW.
15 km NW of Copiapó city in the Atacama Region. ʋʋ Same NE mineralization trend.
43 DDH totalizing 20,252 DDH1: 162m @ 0.24% Candelaria
m. Drilled to a maximum Co; incl. 14 m @ 0.63%
depth of 797 m. TEM and Co; DDH2: 8m @ 0.22%
Magnetometry. Co; DDH3: 12m @
0.18% Co.
Comments
Resource estimation
Candelaria Given the geological settlement in a well-known mining Capital, environmental and social constrains over massive
Non-complaint 59 Mt district and studies performed to date, Atacama Cobalto mining projects, make Atacama Cobalto an attractive target to
@ 0.58% CuEq of which target is a Co-rich polymetallic Tier 2 deposit. In-fill drilling be fast tracked to production. Favorable conditions to develop
0.29% CuEq of Co. campaign for a complaint reserves and resources estimation is a successful project includes proximity to port, water, energy,
Atacama Region recommended to evaluate the economic value of the project. labour and services.

Sofia Contact: Thomas Eggers teggers@kuraminerals.com 3. Exploration Projects

ʋʋ Nearby major’s explorations projects includes San Agustin Target 1:
Sofia and Ceniceros (Codelco, 5 & 3 km respectively) and is also Northern Sofia
just at 19 km west of the Pelambres Cu-Mo porphyry (2,125
Mt @ 0.64% Cu + 180 ppm Mo).
ʋʋ Volcanic breccias shows high clay - silica - pyrite alteration
ʋʋ Two main hydrothermal cells – North and South – of 900 x intensity, due to higher primary permeability.
500 m and 600 x 500 m respectively.
ʋʋ Polymetallic mineralization have been recognized in narrow
ʋʋ Land tenure surrounding the project includes Antofagasta structures and associated to the silica – clay / limonites –
Project Factsheet Minerals, Pachon, Codelco and Punta del Cobre, reaffirming Py alteration zones.
the active interest that Chile-experienced mining
companies have over the area.
ʋʋ Evidences seen at surface and geochemestry confirms a
vein – manto type hosted polymetallic epithermal system.
Target 2:
Northern Sofia
Location:
Cretaceous old mining district, characterized by tourmaline
1,400 ha
Vein hosted -
stratabound,
breccia pipes (Llamuco), Cu-Au-Ag-Pb-Zn epithermal veins (Las
Pozas), and meso to epithermal Au-Cu veins (Buenaventura).
ʋʋ Epithermal system: alteration assemblage of silica – clay
/ limonites – pyrite, plus milky – low temperature quartz
polymetallic veining.
ʋʋ Clear N40E structural trend is controlling the silica
Access: – limonites – jasper – epithermal quartz stockwork
19 km east of Illapel, Coquimbo Region. occurrence.
ʋʋ Polymetallic mineralization have been recognized in the
Development Stage Best Drill Intercept Nearest mining Project: nearby historic Las Pozas vein, distant just 600 m from the
Los Pelambres main silica – clay / limonites alteration area.
Early Exploration ---
Comments
Resource estimation
Los Opportunity to take position in an old mining district that has giant deposits, this Tier-2 opportunity has remained untested.
--- Pelambres still been largely underexplored. Polymetallic systems, hosted in Next steps should include geochemistry and clay spectral
volcanic rocks have generally a discrete surface manifestation, analysis over the defined hydrothermal cells and subsequent
Coquimbo making the exploration even more challenging. Given that this IP/RES lines to define drill targets.
area has been under the radar of major companies looking for
Region

Maullin Energy Contact: Dr. Len Walker lenwalker@phoenixucg.com.au 3. Exploration Projects

ʋʋ Innovative and proven technollogy to produce energy by
Maullin Energy gasifing deep coal seams in situ.
ʋʋ Estimated investment of 200 MUSD to produce 100 MW of
Project operator: power for 30 years period.
Phoenix Energy Ltd. ʋʋ Minimal use of local natural resources, eg, water.
ʋʋ Reduced surface development footprint and visual
presence. Minimal disruption to existing land use and
progressive rehabilitation.
Project Factsheet
Location:
Mio - Oligocene Chiloe Basin.
Access:
60 km SW of Puerto Montt city, Los Lagos Region.
3,250 ha Coal Nearest mining Project:

Maullin
Los Lagos
Region
Target 1: Comments
Maullin Lagoon
Early Exploration 7 m thick coal seam ʋʋ 5m to 15m thick @ 150m to 400m depth. Staged development of integrated UCG/power project,
Maullin
starting at 200 m. including: i) Resource drilling and site characterisation
ʋʋ Ash + moisture circa 50% max.
to confirm feasibility. ii) Seek approval for power project
ʋʋ Quality 3,000 to 6,000 kcal/kg (GAR). development (100 MW). iii) Staged development – 5 MW to 30
MW to 100 MW.
Considerable smaller environmental footprint compared with
conventional mining projects. Proven process control through
Resource estimation design and continuous monitoring.
---

Toro Rosa Contact: Thomas Eggers teggers@kuraminerals.com 3. Exploration Projects

ʋʋ Sub-volcanic dome complex defining a subcircular 2 x 1 km
Toro Rosa silica-clay alteration footprint.
ʋʋ Old native sulphur mining activity indicates an epithermal
Project operator: - high sulfidation system.
Kura Minerals ʋʋ Coquimbite associated with native sulfur, indicates
precipitation at pH 0.8 - 1.5, suggesting ideal preparation
conditions for Au depositation.
ʋʋ Paleocene belt; between Spence and Cerro Colorado (BHP)
Project Factsheet Mines and south of Challacollo Ag deposit (Mandalay
Resources).
Location:
Recent competition aiming to secure land position in this
underexplored segment of the Paleocene porphyry belt,
because of the lack of known mineral systems, and its difficult
Tenure Size Deposit Type access.
800 ha High Sulphidation.

Access:
Epithermal Au.
65 km NW of Calama City, Antofagasta Region.

Spence
Antofagasta
Early exploration - target --- Region
definition.
Target 1: Comments
Patriot Soldier
ʋʋ Multistage dome complex highly altered to silica - clay and Unexplored Au Epithermal opportunity, sited in the less known
Resource estimation Spence intense limonites. Paleocene belt segment, opens frontier exploration ground
for early entrants. Major companies have consolidated the
--- ʋʋ Several native sulfur - coquimbite mineralized structures
sourrounded areas over the last two years. Spur and ridge
with old mine works.
geochemical sampling should define hottest targets.
ʋʋ Epithermal Gold vein occurrence reported as small scale
mine operation.

Praga Contact: Tomás Esguep tesguep@cap.cl 3. Exploration Projects

ʋʋ Opportunity to develop a medium-size oxide operation Target 1:
Praga while maintaining upside in untested targets. Cu Oxides
ʋʋ Cu - oxide mineralization remains open for more than
Project operator: ʋʋ 1,000 x 600 m footprint.
600 m towards south, evidenced by drill holes intercepts.
Historic resource could increase dramatically up to 10 – 20 ʋʋ 54 m @ 0.53% Cu and 50m @ 0.3% Cu including 10m @
CAP Minería Mt. 0.58% Cu intercepts (oxides).
ʋʋ Greenfield exploration upside remains untapped in the ʋʋ Surface outcrops exhibits strong phyllic alteration.
areas under post mineral cover, providing an ideal setting
Project Factsheet ʋʋ Potential for 10–20 Mt of supergene enrichment @ 0.5%
to host a blind porphyry or supergene enrichment deposit.
Cu, near surface.
Location:
Porphyry Cretaceous belt, near to Dos Amigos-Domeyko Mine
(56 Mt @ 0.5% Cu + Au), Productora Project (240 Mt @ 0.48%
Cu, 0.1 g/t Au and 135 ppm Mo), and Frontera Project.
Target 2:
Tenure Size Deposit Type Cu Oxides – Sulphides?
Access:
1,000 ha
Porphyry Cu
(Au-Mo) 60 km south of Vallenar and 90 km north of La Serena, Coquimbo ʋʋ 2,000 x 1,000 m footprint.
Region.
ʋʋ NNW structural corridor controlling Dos Amigos–Domeyko
Mine.
Nearest mining Project: ʋʋ 34 m @ 0.5% Cu (sulphides).
Pajonales
ʋʋ Open hemi graben filled by gravels capable of hosting blind
Development Stage Best Drill Intercept Coquimbo porphyry systems.
Resource Estimation, 44 drill 54 m @ 0.53% Cu Region

holes (6,825 m), Geochemistry (oxides) 50 m @ 0.3%
and Geophysics.. Cu (oxides) 34 m @
0.5% Cu (sulphides).
Pajonales
Comments
Resource estimation Praga represents an opportunity for a Tier 2 company seeking proximity to power grid, in addition to low altitude providing
a project that is capable to deliver positive cashflow in the year long working conditions. Infrastructure synergies with
Non-complaint of 2.0 Mt @ short term, in a well endowed and mining friendly jurisdiction. other operations could include existing installed processing
0.58% Cu oxides considering
a 0.3% cut-off. Favorable conditions to develop a successful project includes: capacity (crushing, leaching and SX/EW) at the Dos Amigos-
close distance to the ocean, excellent road access and Domeyko Mine located only 3 km from Praga.

Cerro Cóndor Contact: Tomás Esguep tesguep@cap.cl 3. Exploration Projects

ʋʋ Underexplored gold epithermal target with potential to be
Cerro Cóndor associated to a Cu-Au porphyry system at depth.
ʋʋ The existence of hydrothermal breccias, pebble dikes
Project operator: and boiling textures suggest the presence of multiple
mineralized pulses during the hydrothermal event.
CAP Minería
ʋʋ Upside represents a significant reward, with potential to
discover a “Relincho type” deposit.
Project Factsheet
Location:
Paleocene Belt, hosting Cu-Au and Cu-Mo porphyries, such as
Teck’s Relincho (648 Mton @ 0.47% Cu and 260 ppm Mo) and
Puquios (37 Mt @ 0.43% Cu).
Access:
176 km north of La Serena city, in the regional limit of Atacama
808 ha
Epithermal Gold &
Porphyry Cu (Au – Mo).
and Coquimbo regions.

Relincho Target 1:
New Cóndor Comments

Coquimbo ʋʋ 1,000 x 400 m footprint. The potential of Cerro Condor is two folded, on one hand it can
Scout drilling; 2 DDH CND-101 defines a Region be targeted as epithermal Au and on the other hand as a deeper
ʋʋ Intense clay altered and highly limonitized area.
totalizing 739 m. Mapping, copper vector at depth, porphyry system such as Relincho. With the historic available
geochemistry and 3 lines with the initial 200 m (0- ʋʋ Structurally complex area associated with radial fracturing. geochemistry, in conjunction with clay alteration intensity and
IP-RES (7.6 km). 200 m) averages 74 ppm identification of high structural density along the peripheral
Cu and the last 47 m Relincho structures, there are at least two prospective targets for a rich
(200-247 m) averages Target 2: gold cap discovery and/or an associated “Relincho type”.
205 ppm Cu. Golden Condor
Resource estimation
ʋʋ 1,000 x 500 m footprint.
---
ʋʋ Defined given its structural, alteration intensity and
lithological (breccia) similarities with New Condor.

Exploration projects contributed by
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Filipina Contact: Cristian Munchmeyer
cristian.munchmeyer@mineriactiva.com 3. Exploration Projects

ʋʋ Identified high grade IOCG body inside property. 100%
Filipina owned mining property of 9,150 hectares at 38 km NW Target 1:
of Vallenar, in the Atacama Region, inside hot, emerging Caminada Comments
Project operator: district.
ʋʋ Central area of the property drilled, with NI 43-101
Minería Activa resources of 9.3Mt @ 1.4 Cu Eq. Within bulk of 50Mt @ ʋʋ NI 43-101 resources of 9.3Mt @ 1.4 Cu Eq. within 50Mt @ The project is available to be bought or optioned.
35% Fe Eq. (Cu/Fe/Au). 35% Fe Eq. (Cu/Fe/Au). It is recommended to increase the size of the current resources
by drilling the identified targets.
ʋʋ Positive PEA with a short term production project (2.5
The addition of 5 Mt from the targets would increase the NPV
Project Factsheet years) in Central area of Filipina & Caminada (NPV @8%
of the Caminada’s PEA in 3x.
MUSD 19-38, IRR 17%-22%) & high upside exposition in
Mine method is underground by bench and fill, and room and
identified IOCG targets.
pillar.
ʋʋ In the same district of Astillas, a mid size IOCG & Porphyry Processing considers magnetic concentration and Cu/Au
copper recently discovered by Antofagasta Minerals flotation at 2,000 tpd.
(>60Mt @ 1% Cu Eq.), Productora of Hot Chili (236Mt @ The company owns land rights for infrastructure.
Tenure Size Deposit Type 0.5% Cu Eq), and Los Colorados operation of the iron ore
producer CMP (>420Mt @ 45% Fe). Target 2:
9,150 ha IOCG
Toñito-Geminis-Eneas
Location:
Cretaceous, Punta del Pobre Formation, Atacama fault. ʋʋ IOCG exploration targets with geophysical surveys.
38 km NW of Vallenar, in the Atacama Region, inside a hot and ʋʋ Potential estimate +100 Mt > 1% Cu Eq.
Development Stage Best Drill Intercept emerging district, where deposits such as Astillas, Productora
and Los Colorados have been discovered.
Advanced exploration: MF04: 18 m intercept.
NI 43-101 resource estimate 12 m real width, 1.5%
and PEA of the central area. Cu, 35.2% Fe, 0.43 gpt
Geophysical surveys in the Au
exploration targets nearby.
Vallenar
Resource estimation
---
Atacama
Region

Caletas Contact: Cristian Munchmeyer
cristian.munchmeyer@mineriactiva.com 3. Exploration Projects

ʋʋ Mid size resource potential: +20 Mt @ +1% Cu Target 1:
Caletas During the 80’s and 90’s, 5 Mt @ 2.5% CuS Cristales
were mined from Caleta del Cobre mine
Project operator: and a dozen other mines of the districts.
Potential reactivate district by developing a SX-EW ʋʋ 2 x 0.5 km IP Cu anomaly and artisanal mines along the
Minería Activa operation. target show evidence of oxide copper mineralization.
ʋʋ District located within the Metallogenic Belt of the
Coastal Cordillera and in the vicinity of not only World
Class deposits such as Mantos Blancos (400 Mt) and
Project Factsheet Michilla (300 Mt), but also of high grade mid size mines
such as Ivan Zar (20 Mt) and Mantos de la Luna (25 Mt).
ʋʋ The main target accounts of geophysics (5 IP lines) and
geochemical studies. Proposed drilling of 1,000 mts @ 4 Comments
holes.
Tenure Size Deposit Type The project is available to be bought or optioned.

Location: 4 drillholes are proposed to test the conceptual copper
7,400 ha
Stratabound
Cu-Ag
Jurassic, La Negra Formation, Atacama fault.
Caleta del Cobre district, 50 km south of Antofagasta city,
oxide target that several artisanal mines and geophysics and
geological surveys indicate.
Antofagasta Region.
Development Stage Best Drill Intercept Antofagasta

Basic exploration: Geological Region
---
mapping and geophysical
and geochemical surveys.
La Negra
Resource estimation
High grade copper oxide
target with potential
resources 20-30 Mt @
+1%Cu

Ángela Contact: Cristian Munchmeyer
cristian.munchmeyer@mineriactiva.com Eulogio Contact: Cristian Munchmeyer
cristian.munchmeyer@mineriactiva.com
Project name: Highlights: Project name: Highlights:

ʋʋ IOCG vein system with more than 5 veins with kilometric ʋʋ IOCG vein system with more than 20 veins unexploited.
Ángela lengths that are unexploited.
Eulogio
Project operator: Project operator: Location:

Minería Activa Location: Minería Activa Cretaceous, Punta del Pobre Formation, Atacama fault. 60
Cretaceous, Punta del Pobre Formation, Atacama fault. 55 km km SSE of Taltal, Antofagasta Region.
NE of Taltal, Antofagasta Region.
Project Factsheet Project Factsheet

Antofagasta
Region
Antofagasta
Region

4,300
2,850
ha IOCG Vein System Taltal
IOCG Vein System (Cu,
ha
Au, Fe) Taltal

Development Stage Best Drill Intercept Advanced exploration EUL-007: 4 m intercept,
10 RC drillings: Bulk alteration 1.9 m real width, 1.44%
Advanced exploration JU-15-066: 6 m
model by QPX estimate of +100 Cu, 0.25 gpt Au
20 Drillings: 9 RC + 1 DDH: 2,520 intercept, 4.2 m real
width, 1.2% Cu, 0.17 Mt @ 0.2% CuT
m.
gpt Au. In which 2 m Drillings show vein continuity
Trenching: 8,060 m. intercept, 1.4 m real of that previously mined by
Drilling and trenching show 3 width, 2.21% Cu, 0.24 pirquineros
veins. gpt Au. Comments
16 veins identified Resource estimation
Mixed mineralization: Oxides and Comments
1-6 m width
Primary Sulfides. Non-compliant Estimate:
300-1,000 m strike The project is available to be bought, optioned or rented
3.1% Cu Eq. (Cu, Au, Fe). 2 Mt @ +2% Cu Eq. + to artisanal miners, which could mine along the vein to
250-450 m depth Potential 4-5 Mt explore the high grade shoots.
Width: 0.4-2.3 m. Resource estimation The project is available to be bought, optioned or rented to
artisanal miners, which could mine along the vein to explore Studies: IKONOS imagery, geologic
Studies: Geologic mapping, Non-compliant Estimate:
1.3 Mt @ > 1.5% Cu Eq. + the high grade shoots. mapping (in detail), structural
Geochemistry, Geophysics (IP,
Potential 3-5 Mt mapping, Geochemistry (ICP),
Magnetometry, and VTEM).
Geophysics (IP, Magnetometry, MT,
and VIP).

El Morado Contact: Cristian Munchmeyer
cristian.munchmeyer@mineriactiva.com Palqui Contact: Roberto Munizaga
roberto.munizaga@gmail.com

ʋʋ Mine under development
ʋʋ IOCG vein system and stratabound IOCG target. Palqui
El Morado Mineralization is outcropping. ʋʋ 2 sucessful drilling campaings.
Project operator: ʋʋ Full permits: ownership, access to mining development and

Project operator: water supply
Location: SMN Inversiones SpA
Minería Activa Location:
Cretaceous, Punta del Pobre Formation, Atacama fault.
45 km SW of Vallenar within El Morado district, which comprises Palqui is located on Cerro El Águila, adjacent to Quebrada El
a major high grade Copper vein over 1 km in strike and 500 m Arrayán, province of Elqui, Coquimbo Region.
depth.
Project Factsheet Access:
Project Factsheet About 41 km east of the city of La Serena, driving over public
roadspor.
396
Veins, filled fractures in
4,150
ha
the volcanic rocks with
ha IOCG Vein System
pseudo brecciation and
Vallenar stock-work fracturing. La
Mesothermal Cu-Ag Serena
Coquimbo
Development Stage Best Drill Intercept Atacama Region
Region Development Stage Best Drill Intercept
Basic exploration; ---
Studies: Basic prospective 10 diamond drill holes were S-2, 20 m, 1.9% Cu, 33 g
works, Geochemistry; completed with a total of / ton Ag Target 1:
3 main targets identified. 870 m core. 7 RC (reverse
Comments circulation) boreholes
totaling 1,140 m. ʋʋ Potential 20 million tons.
The project is available to be bought or optioned.

Resource estimation It is proposed to perform detail geological mapping and Resource estimation
geochemistry and IP surveys, and then a scouting drilling 250,000 tons indicated. 3.5 Comments
Potential Resources 10-20 campaign to test the conceptual copper oxide target.
Mt @ 1.5% Cu + 0.4 gpt Au million tons inferred
Prefeasibity project: staged total investment USD 11 millions.

Cerro La Plata Contact: Roberto Munizaga
roberto.munizaga@gmail.com La Corina Contact: Patricia Narváez
p.narvaez.d@gmail.com
Project name: Highlights: Project name: Highlights:

ʋʋ Opportunity to explore and recognize important Cu and Au ʋʋ Preliminary exploration, geology, geophysics and drillings.
Cerro La Plata deposit.
La Corina
ʋʋ 2 sucessful drilling campaings: ENAMI on 2006 and Alturas
ʋʋ 1 successful drilling campaing. Minerals on 2010.
Project operator: Project operator:
ʋʋ 50 m wide structure and 7 km length associated to regional ʋʋ Mineralization associated to tourmaline breccia (09).
SMN Inversiones SpA fault.
Patricia Narváez
Location:
Location:
Located 15 km east of the town of Condoriaco, Coquimbo
Is located on the eastern slope of Cerro El Águila (3,319 m. Region.
elevation) that forms part of the premountain range hills near
Project Factsheet Vicuña, Province of Elqui - Coquimbo Region. Project Factsheet
Access:
Access: 70 km straight line NE of the city of La Serena
The sector is reached from Route 41, which connects the cities
of La Serena and Vicuña. At 85 km from La Serena.
Tenure Size Deposit Type Tenure Size Deposit Type
2,300 ha
Cataclastic breccia
with Cu and Au
1,811 ha
Epithermal gold veins
and stratabound
deposit Cu-Au
La
La Serena
Serena
Coquimbo
Development Stage Best Drill Intercept Development Stage Best Drill Intercept Region
Coquimbo
7 diamond core holes, CP-05, 17 m, 1.13% Cu Region --- COR-03, 48 m,
totaling 2,516 m and 0.30 g / ton Au 0.9 g/ton Au.
Target 1:
Target 1:
ʋʋ Potential 1 million ounces.
ʋʋ Potential 100 million tons.
Resource estimation Resource estimation

Comments Comments
Inferred 20 million tons 500,000 ounces of
equivallent gold.
Project adyacent to Condoriaco gold district. Currently
Fast exploration project.
optioned by Fresnillo.

Fenix Gold Contact: Alex Black alex.black@rio2.com 3. Exploration Projects

ʋʋ One of the largest gold oxide resources in the world. Project Factsheet
Fenix Gold Conventional Openpit and Heap Leach operation.
ʋʋ Robust Pre Feasibility Study in Place.
Project operator:
ʋʋ Potential for future growth.
Rio2 Limited
ʋʋ Proven Management Team.
Deposit Type Best Drill Intercept
•• 124 m grading 1.26 grams per tonne gold (“g/t
Location: Gold Epithermal Low Sulfidation Au”) from Fenix South (CMR-188) - including 42
Project Factsheet m at 2.52 g/t Au.
(Unique in the Maricunga Belt).
Maricunga mineral belt, Atacama Region, Copiapó Province.
Approximately 140 kilometers northeast by road of Copiapó. A
Located in the diatreme and the •• 256 m grading 0.60 g/t Au and 98 m with 0.80
well kown mining district that contains over 70 million ounces upper part of a Volcano system. The g/t Au from Fenix Central (CMD-187) - including
of gold and hosts the La Coipa and Maricunga mines, as well as gold is fine and free. There are not 46 m at 1.20 g/t Au.
the Volcan, Caspiche, Lobo Marte and Cerro Casale deposits. contaminants associated with the •• 414 m grading 0.67 g/t Au from Fenix North
Gold mineralization, therefore, it will (CMR-209) - including 92 m at 1.24 g/t Au.
be a clean mining operation. •• 376 m grading 0.44 g/t Au from the recently
Tenure Size Access: discovered Lower East Zone (CMR-155B) -
16,100 ha
Access from Copiapó (A 1.5 hour flight from Santiago) via Ch 31
highway (International Road). At kilometer 131 there is an exit
including 22 m at 1.00 g/t Au
to a 15 km private road leading to the project.
Development Stage Resource estimation

•• PFS in place. 2014 PFS:
•• Measured and Indicated
•• 7,000-meter drilling 5.2 Moz.
program under way. •• Inferred 603,000 oz.
•• New resource •• Proven and Probable 3.7
estimate Q1 2019. Moz (USD 1,300 oz Au -
PIT).
Copiapó Resources are inclusive of
reserves.
Atacama
Region

Universo X Contact: Daniel Miranda Soto dan.miranda.soto@gmail.com 3. Exploration Projects

ʋʋ Opportunity to develop an exploration campaign in a very Target 1:
Universo X interesting mining area, considering the importance of the
sector that is adjacent to a District with alteration zones
formed by more than 50 mining operations known since the
last century. ʋʋ The surface mineralization has approximately 40 meters
ʋʋ The northern area of this mining project presents copper of power with an N-45 ° W course that passes through
mineralization soluble in veins, iron and manganese in the the mining project’s belongings. This vein, in depth, has 7
Project Factsheet meters of power, where the insoluble copper minerals are
same way with significant anomalous surface values, while
the south area has many veins of soluble copper. chalcopyrite and chalcocite very rich in grades, being its
run not dimensioned, since its mineralization would have
ʋʋ To the south of the southern area of this mining project several kilometers.
there is a very important wastewater for future mining
works, where water is of vital importance.
Copiapó ʋʋ With all the copper mines and the history of exploitation
of adjacent mines, the area in which this mining project is
ʋʋ The electric power is close to this mining project (40 located is of great interest to explore and define reserves
Tenure Size Resource estimation kilometers approximately) and the roads are fully accessible of important copper ores to develop a project in the future.
at all times of the year, reaching the same place as the
925 ha
---
mining properties.
Atacama
Region
ʋʋ The water resources are to the south of one of the
belongings of this mining project, the electric power is 42
kilometers away and the roads are totally accessible in all
periods of the year, reaching the same place of the mining
properties.
Development Stage Best Drill Intercept Deposit Type

Early exploration, with After making a superficial The mineralization of this mining Location:
basic geological studies sampling in the sectors project is concentrated mainly in veins It is located in the Sierra Aspera, municipality and province of
and surface samplings. with the highest of approximate NS course and vertical Copiapó, Atacama Region, Chile. Its provincial location is 130
mineralization, samples
Comments
inclination that belong to a single fault kilometers to the SE of the city of Copiapó at an altitude of
were taken that gave 1,800 meters above sea level.
structure, located of hydrothermal
grades of 4.01% of CuT
without insoluble copper, alteration that continues towards the
South. The zone of oxidation reaches Taking into account all the geologic and mineralogical
2.2% of CuT with a Access: antecedents existing in the area of interest, it is recommended:
percentage of insoluble 60 meters deep, standing out the
The mining project can be accessed both in the South and the 1. Topography in detail of the area. 2. Geochemistry in the
copper and 1.5% of good combination of gold, copper and North zone, considering that both access routes are transitable two areas. 3. Geophysics in the two areas. 4. Drilling campaign
CuT with a percentage silver of the mined minerals. for vehicles without traction and are in excellent condition acoording to the grades of the surface samples obtained.
of soluble copper, throughout the year.
respectively.

Mostazal Contact: Enrique Viteri enriqueviteri@gmail.com 3. Exploration Projects

ʋʋ Stratabounded Cu-Ag system. Mantos are 2 to 20 m width Target 1:
Mostazal and extensions in strike up to 600 m. 15 lenses has been Stratabounded Cu-Ag deposit
identified in 80 ha.
ʋʋ Primary dominant mineral is chalcosite. Oxidated zone
down to 40 m. ʋʋ Area of 800 ha with copper minerals outcroping,
Project Factsheet geochemical and IP anomalies.
ʋʋ Show similarities with deposits like Mantos Blancos, El
Soldado, Michilla.
ʋʋ Possible existence of a Cu porphyry system at depth.
Location: Target 2:
Upper Eocene belt, south of El Salvador porphyry copper. Possible porphyry copper at
1,317 ha Stratabounded copper-
Located in the Domeyko Fault System depth
silver deposit. Potential
porphyry copper at deep Access: ʋʋ Geophysical anomalies at depth, IP and mag. Area is inside
Located 80 NE of Copiapó city and 105 km of Chañaral port. the Domeyko fault zone (host of Chilean porphyry copper).
Advanced exploration, 54m @ 0.58 Cu;

60 DDH with 11,380 m, 20m @ 1.53 Cu; Comments
11 lines of IP-resistivity, 16m @ 1.27 Cu;
magnetometry, grid of 13m @ 1.21 Cu;
copper geochemistry. 10m @ 1.81 Cu. The 11,380 m of DDH drilling (covering 10% of the area, only up
to 150 m deep), allow estimating an indicated resource of 10
Copiapó million tons of 0.95% Cu and 6 g/t Ag. It is estimated that the
potential of the area is greater than 100 million tons of inferred
resources because the geochemistry indicates a potential area
Resource estimation of occurrences of mineralized lenses of 800 ha and because
Estimated indicate resource the extensive chargeability anomaly in the West has not been
of 10 million tons 0.95% Atacama recognized with drill holes.
Cu in an area of 80 ha. Region
Hypotetical resource of 100
to 150 million tons in 800
ha.

4. Mining
Projects
67
Don Eduardo Contact: Cristóbal Fiori cfiori@nextminerals.cl 4. Mining Projects
Cristóbal Fiori D.
“Don Eduardo is an excellent 62-65% magnetite

iron concentrate exploitation and production mining project,
with 43-101 standard measured and indicated resources.
Project of rapid implementation, with dry mineral benefit. It has
environmental permits approved, and also can use the region’s
existing infrastructure and with substantial growth potential.
The project has been developed by NEXT Minerals, a Chilean

mining assets management firm, established in the year 2013
with the aim of creating value through the development and
operation of copper, gold and iron mining assets of medium-
scale mining in Chile”.
Don Eduardo

Owner: Project Name:

Compañía Minera San Francisco S.A. Iron ore mining Don Eduardo
Relevant information about Nearby Indigenous
Main shareholder: Environmental Status: the project communities nearby towns
Eurocorp Inv. S.A., Fe Minning SpA y Next Minerals Hierro I SpA Approved
Atacama
Given the quality of the resource, for the initial stage it
Region
Description: is considered a processing technology for the production
of concentrate without milling or process water, which Diego de Almagro (38 km)
Iron ore extraction and benefit in dry magnetic concentration privileges minimum initial investment, quick start-up and
plant to produce iron concentrate of 62-65% Fe. the use of existing logistics infrastructure in the region. Chañaral (45 km) None
The project is based on the mineralized body of Magnetic Iron Project has 1,013 ha of mining concessions with good
(massive magnetite) outcropping NE direction and recognized
Tal Tal (80 km)
Chañaral geological potential that provide upside for exploration
for about 1,500 m, embedded in a unit of volcanic rocks of inferred resources over 100 Mt.
belonging to the La Negra formation, being part of the mineral
bodies located in the belt of the Atacama fault, where deposits
of the Fe-Cu-Au type exist.
Operational and Technical Information
Project Factsheet Estimated Workforce Total Pit average Exploitation Cash cost
resources grade Method
48,000 kt 34.8% Open pit mining, benefit 46 USD/t

through crushing and dry
concentrate
of proven resources (M+I),
average grade of 31.5% FeT,
FeT magnetic concentration.
(FOB).
Investment Mineral
considering the 10% FeM cut
40
MUSD
Hierro 550 off grade
EBITDA in regime Water supply Other Information

Operation 240
jobs
Region, Life of Mine
Commune (years) Construction
310
15 MUSD/year Buy from third parties
for human consumption, Metallurgical tests support the design of the plant,
Atacama,
Chañaral 15 jobs for the first 7 years
irrigation of roads and
services.
operation conditions and commercial product specification.

General view and benefit facilities Don Eduardo Project Studies support geological model and engineering of Don Eduardo Project

Capacho Viejo Ltda. Contact: Claudio Segura Ovalle claudiosegura@123.cl 4. Mining Projects
Claudio Segura Ovalle
“Capacho Viejo Ltda. is a private equity mining

company that belongs to the family group Segura which
has financed, with equity capital, the Project in its phases
of exploration, construction of the copper oxide treatment
plant, exploitation of underground mines, related services
enablement, and operation between the years 2013-2015.
The deposit is located in the Antofagasta Region, next to the
Atacama Fault and it is an IOCG type. Currently, it requires an
investment that allows to reopen the mine-plant operation
and/or to discover new reserves. To do so it has 2,400 ha of
constituted mining properties and available exploration works,
such as drilling programs, magnetometry, geochemistry,
structural mapping, etc. Minera Capacho Viejo Ltda. intends
to deliver the project considering a royalty associated to
equivalent copper production, leading to a concrete purchase
option in the future, resulting from the compliance of a program
intended for commissioning the plants and/or exploration
works; nowadays there are 5,000,000 tons. of 1.0% total Cu
(0.9% oxides) and its gold complement. Minera Capacho Viejo
Ltda. estimates that there is a high possibility of increasing
reserves, surface oxides, and sulphides in depths, in targets
already defined”.
Capacho Viejo

Capacho Viejo Contact: Claudio Segura Ovalle claudiosegura@123.cl 4. Mining Projects

Minera Capacho Viejo Ltda. Capacho Viejo
Segura Family Holding Approved
It is located in a metallogenic strip of great interest,
Description: next to the Tovaku project (Pucobre). Adjacent to the
Atacama fault, source of important resources. Without
The project was built for the production of 10,000 ton/year of adverse environmental conditions, which allowed opening
sulphate, 2,500 tons of copper equivalent; 380,000 tons were the mine and the construction of a sulphate plant; in its Tocopilla (75 km) None
processed, before it was halted in 2014 due to market values surroundings it has resources such as skilled labor, access
associated with the low price of copper. The aforementioned Tocopilla to ports, supplies, etc.
allows to assert that the operation of the underground mine by
sublevel- stoping is enabled to deliver 800 ton/day to the plant.
Project alternatives:
A.- Define/Execute an exploration plan to find greater reserves of
copper/gold oxides and sulphides in depth.
B.- Reactivate the mine and the plant.
Independently from a parallel exploration to expand the reserves, Antofagasta Region Operational and Technical Information
it is feasible to activate the mine and the plant. The reserves of
existing oxides allow the production of 2,000 ton/year of cathodes
for 12 years; assuming a reserve of 4,500,000 tons, 0.9% grade ox
Cu, mine recovery 75% and plant recovery 80%. Total Pit average Exploitation Cash cost
Project Factsheet Estimated Workforce

4,500 kt 0.90% Underground mining N/A
(Sublevel Stoping)
Investment
12
Mineral
100
Copper
MUSD
Operation 100 Energy: the plant has groups, generation not recommended
jobs
for cathode production. Possibility of connecting it to the
Commune (years) Sea water. Two pumping Sistema Interconectado del Norte Grande (SING) energy
W/o information
Construction stations in series. system at +/- 25 km. Area has an optimal solar radiation,
Antofagasta,
Tocopilla 12 jobs available information allows to analyze photovoltaic
generation.

Capacho Viejo Contact: Claudio Segura Ovalle claudiosegura@123.cl 4. Mining Projects
“Capacho Viejo Project is located in the The Candado target is just one of many other greenfield areas
prolific tectonic domain of the Atacama Fault System (AFS), that has been partially explored with trenches and shallow RC
within the Late Jurassic - Early Cretaceous belt of northern drilling showing Cu oxide mineralization for 30 m at 0.46% Cu.
Chile, host of several mid-size Cu- Au-Ag mine operations
including Antofagasta PLC’s Antucoya (697 Mton @ 0.33% Based on geophysical analogues models, using Capacho Viejo
Cu), Mantos Blancos (147 Mton @ 0.48% Cu and 4.13g/t Ag) Mine data, several conceptual targets can be postulated;
and Michilla (60 Mton @ 1.64% Cu). Moreover, Capacho Viejo namely 7 magnetic targets and 2 TEM – Resistivity targets.
is adjacent to the historic Puntillas–Galenosa copper district
that has been extensively explored by CODELCO, defining a Moreover, gold mineralization have been reported continuously
Cretaceous Porphyry system of 80 Mton @ 0.31% Cu oxides. for 61 m @ 1.1 g/t Au. Taking into consideration sequential
leaching, this is also an alternative to add value to the project
Capacho Viejo comprehends a unique opportunity to re-start and also consider the Au – rich tailings to initiate Au extraction.
a copper oxide operation, with resources and infrastructure
in place. There are already 4.8 Mt at 1.0% Cu oxide resources The plan at Capacho is to upgrade the current sulphate plant
to be exploited and more than 9 km along the prospective into a electrowinning circuit and produce cathodes as a final
Atacama Fault Zone, with at least 3 major intersections of NW product.
structures to be explored.
Owner intensions are to move the project forward by securing
Brownfield areas, both north and south of the mine area, shows the inversion and technical capabilities needed for starting
economic Cu intercepts, suggesting the expansion and/or the Mine and Plant operations again, via earn-in or option
development of satellites ore bodies of similar characteristics. agreement”.

Minería Activa Contact: Ignacio del Río ignacio.delrio@mineriactiva.com 4. Mining Projects
Ignacio del Río
“Minería Activa is a private equity fund manager

that invests in mining. Minería Activa invests through its
funds in companies or mining projects, in different stages of
development, for different minerals. The strategy is to invest
having a plan to create value in the companies, therefore it
seeks to have control over the investments.
Examples of successful management and investments have

been Dominga, Indiana mining company, Imán mining company,
Filipina mining company, Biolantánidos, Pampa Camarones and
Eco Earth Elements (Exploradora).
In Minería Activa we believe that there is an opportunity

to develop and operate medium-scale high-grade mining
projects. In geological terms, opportunities are there, but they
have been underdeveloped over the years due to the focus
of mining companies in large volumes and the difficulty of
attracting talent to medium-scale mining”.
Biolantánidos

Biolantánidos Contact: Ignacio del Río ignacio.delrio@mineriactiva.com 4. Mining Projects

REE Uno SpA Biolantánidos project
Minería Activa Not Presented
Biobío Region
Description: The only known deposit of ionic clays outside of China.
Projected long-term price of lanthanide oxides Close to the city of
Extraction and production of rare earths (REE) project. Processes concentrate is 49 USD/kg, 10 USD/kg on price in August Concepción.
seeking to obtain an initial product called Concentrate of 2017. Will seek community None
Lanthanide Oxides, of high purity (> 92%). Continuous and Closed Desorption Process (CCLP), method involvement in project
Penco that optimizes the process through the recirculation of development.
water and additives.
121,000 kt 470 ppm Open Pit Mining and 6 USD/kg

Production Plant.
Investment Mineral
40
MUSD
Lanthanides 190
Operation 120
jobs
70 70% Water rights for 9 lt/s.
Biobío,
Penco 16 jobs
aprox
Low consumption due to
water reutlization.
Ramp up expected of 4 years.

Biolantánidos Contact: Ignacio del Río ignacio.delrio@mineriactiva.com 4. Mining Projects
“Biolantánidos marks the beginning of a new

industry in Chile such as with rare earths. These are critical
for several technologies, especially for electro mobility, since
they are used for permanent magnets in electric motors with
increasing demand. Today Biolantánidos is completing its
Definitive Feasibility Study and processing an Environmental
Impact Study in order to start the construction of the project in
the Penco area by the end of 2019. The company has managed
to get to this stage in 7 years after several innovation advances
developed in BioLantanidos, which have allowed them to
explore and design exploitation and processing methods in a
unique way in the world. The operation will be one of the most
competitive ones at a global level, in addition to complying
with the highest environmental standards.
Having a source of rare earths that is sustainable, traceable

to its origin and independent from the Chinese monopoly, is
critical for companies such as Siemens, Apple, Toyota, Tesla,
among others”.

Minera
Pampa Camarones Contact: Ignacio del Río ignacio.delrio@mineriactiva.com 4. Mining Projects

Pampa Camarones S.A. Optimization and updating of processes and facilities of the
Pampa Camarones Mining Project.
Main Shareholder: the project communities nearby towns
Minería Activa Environmental Status:
Approved
Arica y Parinacota
Description: Project renewed the EQR* (RCA) environmental permit
Region
after the cessation of works in 2017. Now it is looking for
The project considers expanding the areas and facilities, a partner to invest to continue with the operation and
process optimization and extraction method with respect to provide the capital for the exploration and purchase of It is close to the city of Arica. None
the exploitation and processing of the Salamanqueja Mine new mining properties near the project area.
project and Pampa Camarones Cathodes Plant, through greater
selectivity; In addition, a new extraction area called Mina * EQR (Environmental Qualification Resolution).
Chacota will be added.
Camarones
resource grade Method
Underground Mining
4,730 kt 2.21% (Bench & Fill and Suble- 1.67 USD/lb
vel Stoping).
Investment Mineral
12
MUSD
Copper 300
Operation 150
jobs
150
30 MUSD/year Desalination plant (5 SX - EW processing plant with production capacity of 8,400
Arica y Parinacota,
Camarones 8 jobs lt/s) and direct sea water
(25 lt/s).
tons/year of copper cathodes. The only cathode plant in the
Arica Region.

Minera
Pampa Camarones Contact: Ignacio del Río ignacio.delrio@mineriactiva.com 4. Mining Projects
“Pampa Camarones is the only metal mining 2% of copper. We also hope to explore the Pampa Camarones
company in the Arica Region, wich closed its operations in 2016 mining property and in the district, in order to extend the life
due to poor operational results that led to financial insolvency. of the mine in several additional years. In the new Pampa
With Minería Activa coming to the property, we seek to reopen Camarones we will demonstrate that the company can operate
the company with a new mining plan based on a new geological economically, complying with environmental commitments
model of the mine site. The company’s annual production will and taking care of the health and safety of its workers”.
be 8,000 tons of copper cathodes, mining ore with grades above

Grupo Sopromin Contact: Mario Hernández mhernandez.sopromin@gmail.com 4. Mining Projects
Mario Hernández
“Grupo Sopromin is developing the project,

which is now in its finals stages of development, in two phases:
i) mining, to obtain calcium carbonate (limestone), which is the
raw material and ii) industrial phase with the construction of
a plant equipped with two ovens which are going to be used
to calcinate the limestones and obtain lime (calcium oxide),
of the type that bigger copper mining companies use. Group
Sopromin is made up of six related companies from Chile;
Sopromin Tocopilla Ltda. is the one authorized to execute the
project. Also, there are five other mining societies in the group
with limestone deposits, and the mining concessions necessary
to extract and process the mineral”.
Tocopilla

Sopromin Contact: Mario Hernández mhernandez.sopromin@gmail.com 4. Mining Projects

Sopromin Tocopilla Ltda Planta de Cal Sopromin
Oe Park, Chong Kim, Mario Hernández Approved
ʋʋ Staff will be trained and hired preferably among
Description: inhabitants from Tocopilla; as well as external
Installation of a calcium carbonate processing plant (limestone) services, preferably to SMEs, machine shops and
workshops from Tocopilla. Caleta Buena (4 km. north of
to produce quicklime (calcium oxide), critical product used the plant). None
by copper companies in their chemical and metallurgical ʋʋ It will be the second lime producer with a plant
processes to separate and obtain the copper contained in the installed in the area; it will allow substituting
mineral rock. The target market is the large copper mining
Tocopilla imports (lower risk of stock-outs).
companies in Tarapacá and Antofagasta regions. The limestone
deposits are located on the coast, to the south of Tocopilla, in
the same area authorized for the installation of the plant within
the territorial scope of the Tocopilla Free Industrial Mining
Zone (Zona Franca Industrial Minera de Tocopilla - ZOFRAT),
whose tariff and tax exemptions are already granted for both,
Antofagasta Region Operational and Technical Information
the implementation of the project and for the operation stage,
including the mine area and the processing plant area.
Total Pit average Exploitation Cash cost

Project Factsheet Estimated Workforce
N/A 88.5% Mine Site:
Conventional in surface
N/A
calcium carbonate. mining.
Investment Mineral
85 Calcium oxide
250
MUSD
Operation 150
jobs
Commune (years) 15 MUSD/year Water trucks, purchased in Processing plant: Continuous operation 360 days/year; 24
Construction Tocopilla. hrs./day (3 shifts of 8 hrs.) 7x7 shifts.
Antofagasta,
Tocopilla 25 jobs 100

Sopromin Contact: Mario Hernández mhernandez.sopromin@gmail.com 4. Mining Projects
“The Sopromin Project consist in the deposits with approximately 3,200 hectares of resources,
development of a high-quality lime (Oxide of Calcium) distributed in superficial limestone deposits (easily extracted)
production plant for its utilization in large mining companies of in 5 large SCMs with 42 registered mining concessions. These
the Northern District of Chile. deposits have been prospected to being able to achieve a total
of 11.9 million tons of material purity greater than 88%.
Lime is the product that results from applying high temperatures
to limestone, which is mainly Calcium Carbonate (CaCO3), and With these resources, the designed production plant will allow
where the quality of the resulting material is mainly due to the the production of about 220,000 tons per year of Lime, which
purity of the limestone, in terms of containing low levels of considers a ROM of 440,000 tons of Coquina limestone).
silica.
The Sopromin project allows to benefit from the following
Although it is possible to find limestone in many parts of the advantages:
planet, only a small portion is pure enough to be used in Copper
production mining operations. It should be noted that lime ●● Strong lime demand in the area. There are no ongoing lime
has been defined as an input of strategic characteristics by a production projects and the need for lime continues to
Cochilco report on the copper production market in Chile. increase.
The limestone that comes from Coquina deposits is just one of ●● Cost advantages thanks to production technology and high
those materials that are of the quality and purity required for quality final product (high price).
the production of mining quality lime.
●● Convenient location and logistics to get to main customers.
In order to make an industrial plant for the production of lime
to be economically feasible, it is necessary to be able to have ●● Tax benefit of the Tocopilla Free Industrial Mining Zone
sufficient amount of resources (mining deposits). The Sopromin (Zona Franca Industrial Minera de Tocopilla - ZOFRAT)”.
project is the only project that has managed to have secured

Nexo Capital Partners Contact: Carlos Pérez cps@wmtcorp.com
4. Mining Projects
Carlos Pérez
“Nexo Capital Partners LLC, established

in 2013 with headquarters in Park City and an office in Santiago,
Chile, is an American firm that is dedicated to the acquisition
of investments in water treatment projects and energy assets.
Nexo Capital Partners operates through strategic alliances with
technology companies and energy efficiency solutions, in order
to minimize risks and waste, and maximize the production of
non-polluted water, sustainability, and the efficiency of energy
generating assets”.
Source: BNamericas
Cerro Blanco

Cerro Blanco Contact: Carlos Pérez cps@wmtcorp.com
4. Mining Projects

S.C.M. White Mountain Titanium Cerro Blanco Project
Nexo Equity Partners Approved
Atacama Region
Description: Concentrates >95% TiO2, with low level of impurities. There is a good relationship
High grades of rutile in the rock, with an important with neighboring communities,
Project corresponds to the exploitation, processing and
level of mineral resources. with agreements that would
transportation of rutile ore (titanium dioxide), from natural ore Easy identification of mineralization for quality Chipasse Ta Tatara
deposit located in the Cerro Blanco area, commune of Freirina. facilitate the development of
control, with practically no prestriping. the project.
It is estimated that the reserves of rutile ore from the Project’s Reduced environmental impact - low number of
deposits get to approximately 81.5 million tonnes, with an significant impacts.
average grade of 1.97% of rutile (TiO2), and a cut-off grade Freirina
of 0.8%. In addition, an average sterile/mineral ratio of 1.78 is
estimated.
87,500 kt 1.89% Open Pit

689 USD/t
Investment Mineral TiO2
238
MUSD
Titanium 1,195
Yearly Mineral Water supply Other Information
Operation 462 Production
jobs
733 70,000 t Desalination plant by It considers comminution stages, gravitational
Atacama,
Freirina 24 jobs (Rutile concentrate) reverse osmosis (capacity
of 440 lt/s).
preconcentration, flotation and magnetic cleaning.

Cerro Blanco Contact: Carlos Pérez cps@wmtcorp.com
4. Mining Projects
“Cerro Blanco is the first mining extraction project considers the installation of a desalination plant with a pre-
of rutile concentrate (TiO2) in Chile, with open-pit mining. treatment system of filters and ultrafiltration, reverse osmosis,
Located in the Atacama Region, 20 km south of Freirina. At and post treatment. The desalination plant will have a capacity
1,000 a.s.l. and 20 km from the coast. Project 100% controlled of 440 L/s. The project was assessed through an EIS1 (EIA)
by Nexo Equity Partners, an investment fund based in Utah, USA. favorably. It has a reduced environmental impact and a low
It has resources measured and indicated by 87.5 Mt with 1.89% number of significant impacts, in addition to good relationships
of TiO2. It considers three pits; Las Carolinas, Noreste Distal with neighboring communities through agreements signed
and La Cantera with its East and West dumps. In addition, it with them.
1
EIS: Environmental Impact Study

Redhill Magallanes SpA Contact: Walter Muehlebach walterm@redhill.cl 4. Mining Projects
Walter Muehlebach
Redhill Magallanes is a Company active

in mining exploration, focused on the identification and
development of copper, gold, and silver deposits in the
Magallanes region. Redhill is a subsidiary of EMR Capital, the
Australian mining investments fund, and it has been operating
in the Magallanes region since 2012. The company is currently
developing the copper, silver, and gold project named Cutters,
which is in an advanced conceptual study stage. Additionally,
regional basic exploration has taken place which has allowed
new targets with interesting mineralization to be identified. For
this purpose, Redhill has approximately 6,000 has of permits
for resources exploitation and about 18,000 has of exploration
permits. Redhill’s strategy includes identifying and developing
high-grade copper projects with precious metals as by-
product, to project them to a prefeasibility stage and to look
for strategic partners to take the projects to the production
stage in small-scale to medium-scale mining.
Cutter Cove

Cutter Cove Contact: Walter Muehlebach walterm@redhill.cl 4. Mining Projects

Redhill Chile SpA Cutters Project
EMR Capital Group Not Presented
Additional circuit for the recovery of argentiferous pyrite
Description: and co-deposition of tailings filtered in cells of land
clearing material with replacement of vegetation cover,
Advanced exploration project with inferred resources (JORC) ensures a safe and environmentally clean disposal of the
Punta
based on 4,000 m of diamond drilling, surface information and tailings. The company controls approximately 18,000 None None
underground work. It has a conceptual study of the mine, plant Arenas
hectares of additional exploration concessions, with
and related infrastructure. A preliminary economic study (PES) high potential. Advantage of being the first in a highly
shows positive results. The project preliminarily demonstrates prospective and little explored region.
technical and economic viability, without major technical,
environmental or social impediments.
Magallanes y la
Antártica Chilena Region Operational and Technical Information
Underground mining
71 kt Fine Cu 2.2% (Sublevel Stoping 1.72 USD/lb
modified)
Investment Mineral 4,600 kOz Ag Cu eq. concentrate
80
MUSD
Copper 370 40 kOz Au

Operation 250
jobs
120 70 MUSD/año It has surface water It has a flotation plant.
Magallanes y la Antártica
Chilena, Punta Arenas
18 jobs rights.

Cutter Cove Contact: Walter Muehlebach walterm@redhill.cl 4. Mining Projects
“Cutter Cove is a copper Project with an average

grade of 2.16%, a silver content of 26 g/t, and 0.13% g/t of
gold, falling into the medium-scale mining category. It is an
advanced exploration project which is in the conceptual study
stage. This study is based in real data and information, such
as theoretical operational assumptions, and it is designed to
generate a copper concentrate equivalent to 150 kt of fine
copper in an operating period of around 19 years. The project
considers several underground mines with veins, which will
process around 1,000 t/d in a traditional flotation plant with
average recoveries of 93% Cu & 78% Ag. Cutters presents an
important growth potential in known mineralized bodies as
well as in the ones at district level”.

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Chile

Content Writing and Development Team

With the valuable contribution of

Design and layout

1. Letter from government authorities ................................ 6

2. Executive Summary ............................................................................................. 8

Exploration Projects .............................................................................................................................15

Chile. A country of Opportunities for Investment and Development 7

1 Source:Charaterization of the Medium-Scale Mining Sector. Published by Sonami and

Chile. A country of Opportunities for Investment and Development 9

Sopromin, Capacho Viejo

In terms of market conditions, lithium is an attractive commodity. It has experienced

Chile. A country of Opportunities for Investment and Development 11

Chile. A country of Opportunities for Investment and Development 13

A historical mining country and regarded as a favourable jurisdiction in which to

Chile. A country of Opportunities for Investment and Development 17

Aethon Minerals Corp.

Chile. A country of Opportunities for Investment and Development 19

Project name: Highlights:

Development Stage Best Drill Intercept Valparaíso

Chile. A country of Opportunities for Investment and Development 21

Project name: Highlights: Target 1:

Feasibility study; 46,650 --- Tarapacá

Chile. A country of Opportunities for Investment and Development 23

Project name: Highlights: Target 1:

Chile. A country of Opportunities for Investment and Development 25

Project name: Highlights:

Tenure Size Deposit Type

Nearest mining Project:

Chile. A country of Opportunities for Investment and Development 27

Project name: Highlights:

3,800 ha Lithium Brine

Development Stage Best Drill Intercept

Geophysics, two scout LBRC004: 201 g/L Lithium Target 1: Comments

Chile. A country of Opportunities for Investment and Development 29

Project name: Highlights:

Tenure Size Deposit Type Access:

Development Stage Best Drill Intercept Target 1: Comments

Chile. A country of Opportunities for Investment and Development 31

Project name: Highlights:

Project Factsheet Location:

1,600 ha Lithium Brine Nearest mining Project:

Chile. A country of Opportunities for Investment and Development 33

Project name: Highlights:

Tenure Size Deposit Type Access:

Nearest mining Project:

Chile. A country of Opportunities for Investment and Development 35

Project name: Highlights:

Tenure Size Deposit Type Location: Target 2:

Chile. A country of Opportunities for Investment and Development 37

Project name: Highlights:

Chile. A country of Opportunities for Investment and Development 39

Project name: Highlights:

3,250 ha Coal Nearest mining Project:

Chile. A country of Opportunities for Investment and Development 41

Project name: Highlights:

800 ha High Sulphidation.

Nearest mining Project:

Chile. A country of Opportunities for Investment and Development 43

Project name: Highlights:

Resource Estimation, 44 drill 54 m @ 0.53% Cu Region

Chile. A country of Opportunities for Investment and Development 45