Ginguro filed NI43-101 on Pardo PropertyGinguro files NI 43-101 on Pardo Property https://www.sedar.com/GetFile.do?lang=EN&docClass=16&issuerNo=00025484&fileName=/csfsprod/data151/filings/02320026/00000001/C%3A\Filings\GEGtr031615.pdf RECOMMENDATIONS It is WSP’s opinion that additional exploration expenditures are warranted. Two separate exploration programs (Phase 1 and Phase 2) are proposed; Phase 2 is contingent on the results of Phase1. PHASE 1 Phase 1 is designed to expand current areal extent of the Mississagi and/or Matinenda Formations on the Property by diamond drill testing at roughly 300 m spacing in the paleo-channel direction and 50m spacing across the paleo-channel direction. All the previous drill core available on the Property would be re-logged using a facies analysis, which will help vector the drill targets towards facies that should be suitable to host gold mineralization. A metallurgical test program on material collected from Eastern Reef, 007, and Godzilla would be run to see if the material is amenable to whole rock leaching. The proposed budget to complete Phase 1 is approximately $790,000 and would run from January to April 2015. PHASE 2 Phase 2 is designed to delineate the mineralization on the Property to a level that would allow a resource estimation to be completed. This drilling, along with the results from previous drilling and channel sampling programs, should allow a 3D geological model to be constructed and ordinary kriging estimation to be run. Ordinary kriging was developed for grade estimation in the Witwatersrand Basin. In addition to the diamond drilling program, mapping and prospecting on other areas of the Property are recommended to further expand any potential. A Mining Lease survey is proposed to convert some of the mineral claims to mining leases, which would allow the Joint Venture more flexibility in some exploration activities and would secure the land for potential mining activities. The proposed budget to complete Phase 2 is approximately $1.4 million.