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Results and Interpretation

The 2010 rotary drilling program was successful in conducting due diligence and verifying the presence of significant gold mineralization in the Big Pit area. Gold mineralization intercepted during the latest drilling shows that there is continuity from hole to hole within the Big Pit area and this data helped establish the eastern limits of mineralization. It is recommended that the east-west structures that appear to define the boundaries of significant gold mineralization in the Big Pit area be drilled. Based on the combined drilling data from Highvista and HDG, it may be possible to determine an initial resource calculation for the Big Pit area.

It may be possible to calculate a gold resource at the Big Pit area, where trenches and drilling have identified a low angle structural zone that hosts significant gold mineralization at surface and extending under bedrock and alluvial cover to the west, northwest, and southeast. Ore grade sampling from the surface, averaging nearly 1.2 g/t gold over an area 200 m by 375 m, and drill intercepts from the program completed in 2008 of up to 1.087 g/t gold over 25.5 m (with individual 1 m intercepts up to 13.75 g/t gold) are encouraging. The completed drill program defined a prospective, open-ended area of 300 m by 100 m roughly centered on the historic Big Pit area trenches. The approximate thickness of the gently-dipping structural zone within this area is 10.5 m, which suggested a potential volume of mineralization extending down-dip to the southwest. Highvista’s 2010 rotary drilling program helped define some limits to mineralization to the north and south of the Big Pit, and detailed mapping shows that mineralization has been truncated by erosion to the east.

Of particular interest is that work previously conducted in the Placer and Pique Viejo target areas by HDG demonstrate that gold mineralization is present, but only above the low-angle fault structure that was intercepted in drilling. The mineralization in these areas are slightly different than at the Big Pit area, and mineralization is hosted by stockwork or sheeted quartz veinlets within carbonate (ankeritic) altered granodiorite and sandstone. The geochemical signature of alteration and mineralization is characterized by high arsenic, base metals and antimony. This data may be useful when exploring other areas of the property.

The lateral extent and continuity of mineralization in the Big Pit area is fairly well understood at this time, however, the east-west structures that appear to control gold mineralization have not yet been drilled, and could potentially prove to be an important aspect of the mineralizing system. In the Placer and Pique Viejo areas, soil sampling, trenching and drilling demonstrate that gold mineralization is spatially associated with both high and low-angle quartz vein structures and broad areas of carbonate alteration. The presence of geochemical anomalies for arsenic and base metals with the gold in both the Placer and Pueblo Viejo areas suggests a style of mineralization that may be associated with a buried porphyry intrusion or large hydrothermal system, slightly different than what is observed in the Big Pit area.

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