RESOURCES AND RESERVES

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These Mineral Resources and Reserves, as well as the terms used in this disclosure, are fully compliant with NI 43-101 requirements and CIM Definition Standards.

RESERVES AND RESOURCES
As at 1 July 2009	Tonnes	Grade	Ounces
Proven and Probable Reserves
Open Pit	4,776,000	1.19	182,300
Underground	1,716,000	1.94	107,200
Total Proven and Probable	6,492,000	1.39	289,500
Measured and Indicated Resources	18,271,000	1.35	790,300
Inferred Resources	1,775,000	1.2	69,780
Reserves are contained within resources. All reserves and resources are NI 43-101 compliant. Underground resources have been calculated assuming a 1.5 g/t cutoff. Open pit resources have been calculated a .5 g/t cutoff.

	Measured and Indicated Resources			Inferred Resources
	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000's)	(g/t Au)	Ounces	(000's)	(g/t Au)	Ounces
Arenal Deeps	3,164	2.21	224,300	152	2.3	11,100
San Gregorio	8,459	1.04	283,700	3	0.9	80
Santa Teresa	1,250	1.05	42,100	400	0.9	11,500
Ombú	687	1.33	29,000	38	0.9	1,000
Sobresaliente	431	1.16	16,000	61	0.9	1,800
Veta A	428	2	27,500	40	1.4	1,800
Veta Sur	537	1.92	33,200	114	1.9	6,900
Argentinita	1,701	1.52	83,000	502	1	17,000
Zapucay	283	1.31	11,900	127	1.2	5,000
Zapucay - Knob Hill	0	0	0	190	1.4	8,600
Castrillón	165	1.29	6,800	147	1.1	5,000
Stockpiles - High	17	1.58	800
Stockpiles - Medium	568	1.02	18,600
Stockpiles - Low	581	0.72	13,400

Total	18,271	1.35	790,300	1,775	1.2	69,780

Qualified Persons' Statement: The technical information presented in this Statement was reviewed and verified by Mr. John Sadek, Mining Engineer, and Mr. George Schroer, Certified Professional Geologist. Mr. Sadek has a Bachelor of Engineering degree (Mining) from the University of Sydney, is a member of the AusIMM and SME and has over 20 years of international experience in mining. Mr. Schroer has an MSc in Geology from Colorado State University, is a member of SEG and AIGP and has over 20 years of international experience in mineral exploration.