El Rubi Nacori Chico, Sonora, Mexico Low sulphidation epithermal project In the norhtern Sierra Madre Apr 2015

Location 220 km E-NE from Hermosillo, in Nacori Chico municipalty SONORA CHIHUAHUA Reached by 308 km of paved road from Hermosillo to Nacori Chico, then by 15 km on the dirt road to Mesa de Tres Ríos

Legal Situation El RUBI 1,652 has. Title 224454 El RUBI FRACC. 1 60 has. Title 224455 Panamerican Silver (Under option to Panamerican Silver)

Geology Thick felsic – intermediate volcanic rocks sequence, Dikes Thick felsic – intermediate volcanic rocks sequence, dominated by felsic tuffs an andesitic flows Intruded by rhyodacitic dikes Dikes

Mineralization Mineralization is often associated to the rhyodacitic dikes, with quartz stockworks developing in the dikes or in the adjoining wallrocks Rhyolitic tuffs Rhyodacitic dikes Andesitic tuffs

Gold on Rock Samples Good surface geochemistry, with gold up to 110 g/t and silver up to 6,720 g/t

Silver on Rock Samples Good surface geochemistry, with silver up to 6,720 g/t at El Rubí, 943 g/t ppm at Campo Santo, 1,530 g/t at Convirginia, 558 g/t at Pinos Altos and 73 g/t at Las Huatas Las Huatas vein, 4m wide on the road to Mesa de Tres Ríos

Drilling 23,500 m of drilling in 94 holes, first by Minefinders and later by Pan American Silver, From 2010 to 2013 Mineralization occurs in a more than 500 meters vertical span Convirgionia Zone Multiple mineralized structures that run for kilometers Las Huatas Zone Two ore shoots (clavos) identified in the Esperanza claim

Public Results (Not within El Rubi claims) Las Huatas Zone Convirginia Zone

Significative Intervals (within El Rubi claims)

Exploration Zones El Rubi Campo Santo Convirginia Las Huatas Pinos Altos

El Rubi Zone Rhyodacitic plug intruding andesitic flows Up to 110 g/t Au and 6,700 g/t Ag (from dumps?) Over 200m of strike length with bonanza grade samples on surface No drilling!

Camposanto Zone Complex set of dikes, wide stockwork zone Up 9.7 g/t Au and 360 g/t Ag on surface, 0.5 m @ 36 g/t Au and 943 g/t Ag on U/G working Several subsidiary structures with anomalous geochemistry 6 drill holes Best intercept : 2m @ 6.4 g/t Au

Convirginia Zone Wide swarm of rhyodacitic dikes into andesitic flow unit Wide zones of stockwork quartz veining Up to 16.8 g/t Au and 1,500 g/t Ag on surface 32 holes, results include 18m@ 1 g/t Au, 96 g/t Ag, 1.8m @ 11.7 g/t Au, 34 g/t Ag; 1.45m @9.4 g/t Au, 1,358 g/t Ag; 1.45m @ 7.8 g/t Au, 1,055 g/t Ag; 0.95m @ 8.3 g/t Au, 198 g/t Ag, etc

Convirginia Drilling Results 18.1 m @ 1 ppm Au, 96 ppm Ag 166c 173c 174c 175c 188c 136c 160c 134c 135c

Las Huatas Zone Minor rhyodacitic dikes into andesitic flow unit Up to 1.7 g/t Au and 73 g/t Ag in surface 49 drillholes. Results include: 2.55m @ 13.8 g/t Au, 218 g/t Ag, 2.8m @ 1 g/t Au, 81 g/t Ag; 2.1m @ 0.8 g/t Au; 1.95m @ 1.3 g/t Au, 29 g/t Ag

Pinos Altos Zone Minor rhyodacitic dikes into intermediate and felsic volcanic rocks sequence Up to 4.3 g/t Au and 558 g/t Ag on surface 4 drillholes. Up to 0.85 m @ 3 g/t Au, 23 g/t Ag; 0.75m @ 1.14 g/t Au and 0.70m @ 1.0 g/t Au Favorable structures over 1.5 km long, with anomalous arsenic and antimony on rock grid sampling