Sprott Global Resource Investments

Site Visits

Panoro - Cotabambas, E Peru - May 2013

Andrew Jackson visited Panoro's Cotabambas project in Eastern Peru on May 14/15. 

Cotabambas is a Cu-Au porphyry with higher than average grades. The current largely inferred resource is 404 Mt @ 0.42 percent Cu + 0.23 g/t Au at a 2 percent Cu eq cutoff. Or 200 Mt @ 0.54 percent Cu + 0.3 g/t Au at a 0.4 percent Cu eqiv cutoff.  Note that these are pit-constrained resources, not universal like many comparables report

Cotabambas is situated about 50 miles west of Cusco in Peru.  Panoro has a regional office in Cusco and 2 large field camps on site that can hold about 80 people.  Access is mainly by a dirt road. Although only 50 miles from Cusco in direct line, it is a 4.5 hour drive each way because of the very tough terrane in the Andes. The deposit is at about 3300m or 11,000 ft
elevation, so not a problem.

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The foregoing discussions are a result of site visits and are not to be construed as a recommendation, an endorsement or as investment advice. Sprott Global Resource Investments Ltd, entities that it controls, family, friends, employees, associates, and others may hold positions in these securities, may recommend them to clients, and may sell the same at any time.

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