CDB - San Matias Project HistoryInformal artisanal gold mining is carried out at several places on and adjacent to the project in alluvial, saprolite and hard rock deposits in open pits and underground workings. The only previous modern exploration to be carried out for gold and copper in the San Matias Project area was the adjacent El Alacrán property (described in Section 15 of Cordoba's NI 43-101 Technical Report: Córdoba Project dated December 11, 2013), and at Mina Rá in 1984-87 by Dual Resources Inc. (Dual Resources). The license was acquired in 1995 by Sociedad Ordinaria de Minas Santa Gertudis, a private Colombian company, which changed its name to Sociedad Minera El Alacrán S.O.M. in 1996. The property was optioned to Billiton Inc. in 1998. The exploration at El Alacrán is described in reports by Vargas (1998, 2001 and 2002) and Shaw (2002). Dual Resources carried out drilling at El Alacrán (described in more detail in Section 15) and also drilled five holes of 70-120 m length each at the Mina Rá mine in 1984-86, but the results and core are lost (Vargas, 1998). The El Alacrán deposit was recently explored by Ashmont Resources Corp., a private company based in Vancouver, which carried out a diamond drill program in 2011 to 2012 of 11,230.55 m in 45 holes (Ashmont Resources Corp. website). There was no known prior exploration of the copper and gold mineralization at Montiel West, Montiel East and Costa Azul.