Trigal, Salta

High sulphidation silver-gold target located in north-western Salta province

•Immediately to the NE of the El Quevar project owned by Golden Minerals
•1,200 hectares

Option agreement signed Dec 15th 2010

•Can earn 85% by making vendor payments of $1.7 mm over 48 months ($260k required over first 30 months).
•Interest can increase to 100% through vendor dilution.
•Residual 2% NSR can be purchased for $2mm.

Exploration Model

•The project covers an area of acid sulphate alteration (silica alunte) with the main exploration target being high grade structurally controlled silver mineralization.
•The neighbouring El Quevar project of Golden Minerals hosts a high grade resource of 60.5mm ounces grading 330 g/t silver.
•Recent exploration at El Quevar suggests district potential with new areas intercepting bonanza grades like 28 m of 1,300 g/t Ag including 3 metres of of 5,765 g/t Ag
•Trigal has potential to be part of the district.

Work Program

2011

•Access and road building -- early Q1
•Rock chip sampling and trenching -- early Q1 (as access permits)
•Preliminary geological mapping -- Q1
•Geophysics survey planned (IP or CSAMT) -- Q2
•Drilling -- Q4 (pending results of above work)