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  • voodoo.three voodoo.three Jul 6, 2011 3:27 AM Flag

    Who owns Mina Pascua - Report by Expert

    2. Titles and certificates for AMARILLOS 1-3000. MINING CADASTRE [Registration] for AMARILLOS 1-3000 are registered in the name of MINER A NEVADA LIMIT ADA, granted by SERNAGEOMIN [Chile's National Geological and Mining Authority] at its Central Office in Santiago, Special Zone, on January 19, 2011. OVERLAP MAP ["Plano de Superposiciones "] of Concessions and Surveys TESOROS ONE 1-30 to TESOROS TWELVE 1-5 over AMARILLOS 1-3000 granted by SERNAGEOMIN at its Central Office in Santiago.

    Conclusion regarding legal authority to title deed AMARILLOS 1-3000, as at 2011.

    To this date there are no marginal annotations of any kind on the title deeds which affect them in 2011 in favour of Barrick Gold Corporation - ABX de Canada, Barrick Chile, only Minera Nevada Limitada, according to original copies of same, which are before me.

    a) MINING PROPERTIES "LOS AMARILLOS" 1-3000, property of Compania Minera Nevada. "ROL 03301-1153-4". Which are registered on PAGES 343 No. 12 in the Register of Properties maintained by the Registrar of Mines al Vallenar for the year 1978.

    b) "TESORO" MINING PROPERTIES:

    PROPERTY ROL OWNER REGISTR. YEAR
    TESORO I 1/3003304-0532-5 1 HECTOR UNDA LLANOS 142v.N36 2001
    TESORO 2 1/ 12 03304-0533-3 HECTOR UNDA LLANOS 148.NJ7 2001
    TESORO 3 113003304-0534-1 HECTOR UNDA LLANOS 346.N74 20tH
    TESORO 4 1/3003304-0535-K HECTOR UNDA LLANOS 143N38 2001
    TESORO 5 1/25 03304-0536-8 1 HECTOR UNDA LLANOS 158N3lJ 2001
    TESORO 6 112003304-0537-6 HECTOR UNDA LLANOS 351v.N75 2001
    TESORO 7 1125 03304-0538-4 HECTOR UNDA LLANOS 163v.N40 2001
    TESOROS 1/1203304-0539-2 1 HECTOR UNDA LLANOS 16Sv.N41 2001
    TESORO 9 1/1203304-0540-6 HECTOR UNDA LLANOS 173v.N42 2001
    TESORO 10 1/2003304-0541-4 HECTOR UNDA LLANOS 178v.N43 2001
    TESORO 11 1/2003304-0542-2 HECTOR UNDA LLANOS IS3v. N44 2001
    TESORO 12 11503304-0543-0 HECTOR UNDA LLANOS ISS\,. N45 2001

    These properties, as the record shows, are currently registered and in good standing.

    The National Geological and Mining Service, a state entity charged with maintaining the survey of mining properties in Chile, shows that the TESORO mining properties, itemized above, overlap the AMARILLO I to 3000 mining properties.

    The AMARILLO I to 3000 mining properties should have exercised the actions under Article 95, No.7, of the Mining Code against the TESORO mining properties which affected them.

    This action has a legal limitation of 4 years under Article 96 of the said Code, an action which was not exercised by the AMARILLOS I to 3000 mining property.

    The same Article 96 of the Mining Code, paragraph three, stipulates that once the legal limitation has elapsed, the concession is cleared of all encumbrances and, furthermore, it is understood that the judgment and its registration have always produced the legal effects stipulated for each one by Article 91. The Judgment that, in the case of numbers 6 and 7 of the previous article, declares the lapse (end of limitation) of the nullity action referred to in said numbers, shall also DECLARE EXTINGUISHED the property affected by the overlap.

    This is to say that all the TESORO mining properties are cleared of all encumbrances and the AMARILLOS I to 3000 mining properties affected by the overlap, are to be declared extinguished.

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    • 3. Titles and certificates for TESOROS ONE 1-30 to TESOROS TWELVE 1-5, as shown on the attached copy, are registered in the name of Jorge Rodrigo Lopehandia Cortes as valid legal titleholder of same, as shown on the registration of mandato [order, commission] of legal rights, on the margin of the deeds, as at January, 2011.

      Conclusion regarding legal authority to title deed, as at January, 2011.

      To this date. there are no annotations of any kind on the margin which affect them in 2011, in favour of Barrick Gold Corporation - ABX de Canada. Barrick Chile or Minera Nevada Limitada. according to original copies of same, which are before me. The original 2011 copy does certify by means of a marginal annotation the litigious rights of Mr. Jorge Rodrigo Lopehandia Cortes. as of today, as first legal title under law.

      It should be mentioned that the expert surveyor who surveyed the properties left a note on the deed [of] the TESOROS concessions, on page two, recording that:

      "the concessions are delimited by the perimeter comprised by CAMPAMENTO MINA PASCUA where there are visible exposures of minerals and exploration works". (MINA PASCUA PROJECT), "of MINERA NEVADA. S.A:•

      My opinion is backed up by the TESOROS ONE 1-30 Deed and the Ownership Certificates granted on January 14, 2011 by the Registrar of Mines at Vallenar, in respect of the TESOROS ONE 1-30 to TESOROS TWELVE 1-5 properties, which show the name Mr. Jorge Rodrigo Lopehandia Cortes as the last valid annotation of lawful and current legal rights to date. as shown on the margins of the title deeds, copies of which I am attaching to this, my TECHNICAL REPORT.

      PASCUA LAMA PROTOCOL

      1.-Consider the attached {copy] of CHILES OFFICIAL GAZETTE. page 8. December 11.2004, in which the PASCUA LAMA PROTOCOL was published, and on its page 8, under concessions, with number 1 is the AMARILLOS 1-3000 property.

      2.-Consider the same PASCUA LAMA PROTOCOL on its page 8, under concessions, that MINERA NEVADA Limitada includes the surveyed concessions TESOROS ONE 1-30 to TESOROS TWELVE 1-5 and given that these were. since June 06, 2001. under PRECAUTIONARY PREJUDICIAL MEASURE C-1912-2001. Thus registered and certified by the Registrar of Mines at Vallenar, as at 2011. in the title deeds I have before me and attached to this report.

      In accordance with the Title Deeds and the Ownership Certificates current as at 20 II, the deeds do not register any dominion valid in Chile as at January. 20 II. which hands over dominion or property to BARRICK GOLD CORPORATION. BARRICK CHILE or MINERA NEVADA L1MITADA. This legal privilege corresponds. To today's date. to Mr. Jorge R. Lopehandia. according to current Title Deeds and Ownership Certificates. which are before me and which am attaching to this Report having been granted by the Registrar of Mines with jurisdiction over the areas of the Mina Pascua project in Chile.

 
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