1. TVI Resource Development (Phils), Inc. September 2005 1 Canatuan Tailings Management Completion of Stage 1 Tailings Management Facilties Gossan Dam and Diversion/Sulphides Dam Construction Activities April 2005 Through August 2005 Early morning clouds at the Canatuan mill facilities.

2. TVI Resource Development (Phils), Inc. September 2005 2 Canatuan Tailings Management Existing Tailings Dams Have Reached Their Storage Capacity. Gossan Dam Construction Initiated In April 2005. Two Stage Construction Planned. Stage 1 Construction To Dam Crest Elevation 425 m. Stage 2 Construction To Dam Crest 440 m. Two Dam System Required. Upstream Diversion Dam For Water Control. Gossan Diversion Dam Downstream For Tailings Deposition. Completion Stage 1 Gossan Dam September 1, 2005. Completion Diversion Dam September 1, 2005. Completion Stage 2 Gossan Dam March 2006. Diversion Dam To Be Expanded To Sulphides Tailings Dam 2006.

3. TVI Resource Development (Phils), Inc. September 2005 3 Existing Tailings Dams April 2005 Two Dams. Upper Dam Constructed in 1997. Lower Dam Constructed in 2004. Both Dams Awaiting Reclamation. Upper Tailings Dam Lower Tailings Dam Impoundment Total tailings storage both impoundments approximately 75,000 m3.

4. TVI Resource Development (Phils), Inc. September 2005 4 Existing Tailings Dams Year 2005 Upper Dam Crest Tailings Lower Dam Crest Tailings Volume Upper Dam Impoundment 18,000 m3. Tailings Volume Lower Dam Impoundment 57,000 m3.

5. TVI Resource Development (Phils), Inc. September 2005 5 Gossan Dam Design Criteria Gossan Dam Design Stage 1 Dam Crest Elevation 425 m. Dam Height 25 m. Zoned Earth Embankment. Clay Core. Internal Sand Filter. Dam Crest Length 100 m. Dam Face Slopes At 2.5 Horizontal to 1 Vertical. Storage Volume 100,000 m3. Flood Storage 100-Year 24-Hour Event. Gossan Dam Design Stage 2 Dam Crest Elevation 440 m. Dam Height 40 m. Zoned Earth Embankment. Clay Core. Internal Sand Filter. Dam Crest Length 150 m. Dam Face Slopes At 2.5 Horizontal to 1 Vertical. Storage Volume 450,000 m3. Spillway Design Probable Maximum Flood.

6. TVI Resource Development (Phils), Inc. September 2005 6 Diversion/Sulphides Dam Design Criteria Diversion Dam Dam Crest Elevation 455 m. Dam Height 15 m. Zoned Earth Embankment. Clay Core. Internal Sand Filter. Dam Crest Length 110 m. Dam Face Slopes At 2.5 Horizontal to 1 Vertical. Storage Volume m3. Spillway Design Probable Maximum Flood. Sulphides Dam Dam Crest Elevation 483 m. Dam Height 43 m. Zoned Earth Embankment. Clay Core. Internal Sand Filter. Dam Crest Length 250 m. Dam Face Slopes At 2.5 Horizontal to 1 Vertical. Storage Volume 1.4 million m3. Spillway Design Probable Maximum Flood.

7. TVI Resource Development (Phils), Inc. September 2005 7 Overall Tailings Management Dams Layout Gossan Dam Diversion Dam Spillway Diversion/Sulphides Dam Gossan Dam Spillway Canautuan Creek Feasibility Studies and Designs From Knight Piesold Consulting

8. TVI Resource Development (Phils), Inc. September 2005 8 Gossan Dam Cross Section And Profile Zoned Earthfill Embankment Feasibility Studies and Designs From Knight Piesold Consulting

9. TVI Resource Development (Phils), Inc. September 2005 9 Cross Section Diversion/Sulphides Dam Zoned Earthfill Embankment Feasibility Studies and Designs From Knight Piesold Consulting

10. TVI Resource Development (Phils), Inc. September 2005 10 Gossan Dam Pre Construction April 2005 Gossan Dam Area Prior to Foundation Excavation. Footprint of Dam 2.5 ha. Area of Impoundment 5 ha Height of Dam Upon Completion 40 m. Height of Stage 1 Dam 25 m. Maximum Impoundment Volume 400,000 m3 Canatuan Creek valley from access road to Malusok

11. TVI Resource Development (Phils), Inc. September 2005 11 Gossan Dam Site Clearing April 2005 Approximately 3 ha of timber harvested. All cutting was done within the tailings impoundment limits. All cutting done under DENR Permit. All timber cut was documented and reused. Dam Location Canatuan Creek All lumber salvaged and reused.

12. TVI Resource Development (Phils), Inc. September 2005 12 Gossan Dam Foundation Excavation May 2005 Foundation Preparation. Excavation to Lower Rock Foundation. Volume of Excavation 40,000 m3 Footprint of Excavation Area 2.5 ha Dam Centerline Right Abutment Left Abutment Upstream Foundation Rock Canatuan Creek Excavation depth approximately 2.5 m.

13. TVI Resource Development (Phils), Inc. September 2005 13 Gossan Dam Embankment Construction Mid June 2005 Placement of Initial Lift of Clay Core Zone Material. Material Placed in 30 cm Lifts. Total Volume of Clay Core Zone to be Placed for Stage 1 = 35,000 m3 First Lift Clay Core Zone With the exception of filter sand, all embankment material excavated from within the impoundment area. Canatuan Creek

14. TVI Resource Development (Phils), Inc. September 2005 14 Gossan Dam Embankment Construction Placement of Core Material. Clay Material For Core Zone Sheepsfoot Roller for Compaction Equipment supplied by multiple contractors and managed by TVI mine staff.

15. TVI Resource Development (Phils), Inc. September 2005 15 Gossan Dam Embankment Construction Placement of Downstream Sand Filter Material. Sand Filter Protective Covering No accidents recorded during construction of Stage 1 despite some overzealous truck drivers.

16. TVI Resource Development (Phils), Inc. September 2005 16 Gossan Dam Embankment Construction Early June 2005 Placement of Core Zone Material. Placement of Sand Filter Material. Foundation Excavation. Dam Crest Elev 405 m Core Zone Material Sand Filter Zone Approximately 25% of Stage 1 work completed.

17. TVI Resource Development (Phils), Inc. September 2005 17 Gossan Dam Instrumentation Installation of Piezometers for Water level Measurement within the Dam. Required Safety Procedure for Dam Stability Monitoring. Multiple piezometers placed within dam in each embankment zone.

18. TVI Resource Development (Phils), Inc. September 2005 18 Gossan Dam Embankment Construction Early July 2005 Placement of Core Zone Material. Placement of Sand Filter Zone Material. Total Volume of Sand Filter to be Placed for Stage 1 = 15,000 m3 Core Zone Material Sand Filter Zone Material Dam Crest Elev 410 m Approximately 40% of the Stage 1 dam completed.

19. TVI Resource Development (Phils), Inc. September 2005 19 Gossan and Diversion Dams Quality Control Field Density Testing For Compaction Control and Quality Assurance. More Than 400 Field and Laboratory Tests Conducted By Independent Laboratory Fully equipped laboratory set up onsite.