Outlook"Outlook
The Company’s focus in the short period of time since it acquired the Gran Colombia mine has been on
production ramp up and continuing with the modernization of operating facilities. Since the resumption of
mining activities at the Gran Colombia mine on September 6, 2010, a total of about 9,000 ounces of gold
and 8,000 ounces of silver have been mined from the three underground mines and the Maria Dama mill
has processed close to 30,000 tonnes of ore with grades averaging 8.6 g/t for gold and 8.9 g/t for silver.
Rehabilitation activities at the Independencia underground mine at El Zancudo have enabled the
Company to commence mining operations in the fourth quarter and it is expected that the mill on the
property will be operational before the end of December. The Company expects to produce 100,000
ounces of gold in 2011 from its mining operations at Gran Colombia and El Zancudo."