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  • voodoo.three voodoo.three Jul 6, 2011 4:47 AM Flag

    Who owns Mina Pascua - Report by Expert

    From MWR's March 2nd news release in SEDAR:

    http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00009237

    Region III - Report of Expert Mine Surveyor, Tulio G. Moreno Andreani:

    BARRICK GOLD CORPORATION LOSES RIGHTS TO MINA PASCUA PROPERTY
    "1996-2010 VIA MINERA NEVADA S.A."- "MINERA NEVADA LIMITADA" [(ViA) MINERA NEVADA INCORPORATED]

    1. BARRICK GOLD CORPORATION of Canada, listed as ABX in Stock Exchanges in Canada. United States, Switzerland, France, England and Germany, acquired rights over the MINA PASCUA area in Chile when it purchased the assets of LAC MINERALS in a [the] Canadian Stock Exchange in 1994. To this date, the company has held 100% of the title deed to MINA PASCUA CHILE and PASCUA LAMA.

    2. LAC MINERALS of Canada, doing business in Chile since 1983 through MINERA NEVADA S.A., was the lawful owner of some mineral concessions over the original MINA PASCUA CHILE project area, shown in "SERNAGEOMIN" [Note B}. ref. the 2010 edition of the "PLANO DE SUPERPOSICIONES" {Multi-layer map} as YELLOW 1-3000, identified in the national registry as "R.U.N. 03301-1153-4", until it was fully acquired by Barrick Resources Inc , now Barrick Gold Corporation - ABX. In 1994.

    3. To this date, in accordance with the PASCUA LAMA PROTOCOL published in the "DIARIO OFICIAL DE CHILE" [Chilean Government Gazette] (page 8 in attached copy) on December 11, 2004, the YELLOW 1-3000 mining concession shows as if it were the mining property of the firm MINERA NEVADA LIMITADA, currently a subsidiary of Barrick ChiIe and Barrick Gold Corporation of Canada.

    4. In accordance with the MINING CADASTRE {Registration} granted by SERNAGEOMIN's Information Technology Department, Special Zone, on 14-Sep-2010 at 10:58:02, the concessions known as YELLOW 1-3000 correspond to OLD CODES and are MINERAL RIGHTS CONSTITUTED OVER NITRATES AND ANALOGOUS SALTS DETERMINED IN THE FIELD IN CONFORMITY WITH ARTICLE 41 OF THE REGULATIONS PURSUANT TO THE MINING CODE.

    5. Arising from point 4: in Chilean mining law, none of the firms, Barrick Gold Corporation. MINERA NEVADA S.A., or MINERA NEVADA LIMITADA, possesses legal protection to extract metallic minerals under concessions that only cover non-metallic concessionable substances, such as is the case with YELLOW 1-3000 (ex LAC MINERALS).,in order to operate lawfully in Chile [In Spanish: libre derecho de Explotacion minera] a project involving metallic minerals such as gold, silver and copper, which is the objective of the PASCUA LAMA PROJECT. Moreover, if it were to extract gold, silver and copper from MINA PASCUA CHILE with YELLOW 1-3000, this would constitute an evasion of payment of taxes for the extraction of metallic concessionable substances. Technically, the extraction of metals with a non-metals concession is invalid under law.

    6. According to the Multi-layer Map and legal decision, YELLOW 1-3000 is coterminous with a LEGAL MINING SURVEY denominated "TESOROS UNO I al DOCE a TESOROS DOCE I al 15" [Literally: TESOROS ONE 1 through 12 to TESOROS TWELVE 1 through 5] inclusive, and also, both concessions are included in the attached PASCUA LAMA PROTOCOL as properties of MINER A NEVADA LIMITADA ex S.A. (property of Barrick Chile / Barrick Canada). Since these concessions were surveyed and with no changes recorded since June of2000, and to the current date so shown on the margin of same, as can be seen in the copy attached to this report granted by the "Conservador de Minas y Bienes Raices" [Mining and Real Estate Registrar], as valid surveys, due to the fact that they have been on YELLOW 1-3000 for over four years. they have expired under law, no legal opposition having been filed to the validity of the TESOROS concessions.

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    • 7. According to attached deeds and certifications. the TESOROS surveys are at the moment under "EMBARGO PREVENTIVO" [preventive sequestration] decreed under PRECAUTIONARY PREJUDICIAL MEASURE C-1912-2001, effective from June 05, 2001 to the present time. The precautionary measure affects Chilean territory at the UTM coordinates of the TESOROS surveys, the same as in accordance with the attached Multi-layer Map granted by SERNAGEOMIN and because it concerns the same UTM coordinates it also affects de facto the old YELLOW 1-3000 surveys. This is because the precautionary measure affects and extends over the UTM coordinates under precautionary measure, independently of which any superposition of other properties with different names in the same area and UTM, it would all fall under said Precautionary Prejudicial Measure.

      CONCLUSIONS

      1. The YELLOW 1-3000 concessions had another survey done over top of them, which violates Chilean mining law, article ... which stipulates that a Perito [generically any expert, in this case a surveyor] cannot do a survey over top of a valid survey.

      2. The YELLOW 1-3000 concessions only permit the extraction of non-metallic substances and salts and therefore cannot be used to cover a project involving the extraction of metals. Also, the near totality of the UTMs covered [under said concessions] are under a preventive sequestration court order at the present time, according to the attached certifications issued by the Mining and Real Estate Registrar with jurisdiction over the areas, through Precautionary Prejudicial Measure C-1912-200 I, effective from June 05, 2001 to this date, December 15. 2010.

      3. Technically, the non-metallic YELLOW 1-3000 concessions should not be part of a project involving extraction of metals (gold, copper and silver) which is the purpose of the PASCUA LAMA Project and Protocol, because they lack legal jurisdiction to do so.

      4. Technically, the YELLOW 1-3000 concessions should be supplanted or superseded by the surveys "TESOROS UNO 1 al 30 a TESOROS DOCE 1 al 5", inclusive, covering metallic substances, under law, because the TESOROS concessions have existed unopposed over top of YELLOW 1-3000 for more than 7 years.

      5. The deeds "AMARILLOS SUR - AMARILLOS NORTE" [Yellow South - Yellow North] do not show any marginal entries on any valid property deeds or certificates of dominion in the name of BARRICK GOLD CORPORATION or of MINERA NEVADA S.A. or of MINERA NEVADA LIMITADA, they only show a legal marginal annotation concerning the litigious rights over these concessions in favour of Mr. Jorge R. Lopehandia.

      • 1 Reply to voodoo.three
      • 6. The deeds "TESOROS UNO 1-30" through "TESOROS DOCE 1-5" do not show any marginal entries on any valid property deeds or certificates of dominion in the name of BARRICK GOLD CORPORATION or of MINERA NEVADA S.A. or of MINERA NEVADA LIMITADA, they only show a legal marginal annotation concerning the litigious rights over these concessions in favour of Mr. Jorge R. Lopehandia.

        7. Technically, the YELLOW 1-3000 concessions should not appear in the PASCUA LAMA PROTOCOL, which is a metallic-mineral extraction project.

        8. Technically, the 'TESOROS UNO 1-30" through "TESOROS DOCE 1-5" should not have been included in the PASCUA LAMA PROTOCOL as a mining property of MINERA NEVADA LIMITADA because there are no marginal annotations in the title deeds recording a valid und current dominion over the concessions. Moreover, they should not now be included in consideration of the valid preventive sequestration existing through Precautionary Prejudicial Measure C-1912-2001.

        9. In the "TESOROS UNO 1-30" mining deeds the expert surveyor clearly has identified that the areas comprised by the concession are for mineral extraction and they correspond to the area of Mina Pascua Camp of the Minera Nevada Project, the Chilean subsidiary of Barrick Chile and Barrick Gold Corporation.

        Attached to the legal expert's report are all the aforementioned documents.

        TULIO G. MORENO ANDREANI

        INGENIERO GEOMENSORI PERITO MENSURADOR

 
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