The Hurricane Magmatic Ni-Cu-PGE project is a new deposit type in Peru, and 10 new sulphide occurrences have been discovered on the property to date.

In late 2010, preliminary drilling tested three of the ten prospects, Ñañohuayco, San Cipriano and Negrohuarcuña. An airborne electromagnetic survey was completed over the northern part of the property in late 2010 that detected numerous conductors in proximity of the showings and/or strong stream sediment anomalies.

Plans for 2011 include the completion of the remaining 50% of the airborne electromagnetic survey followed by ground investigation of the highest priority conductors that will help define targets for the next phase of drilling.

Hurricane District

Nickel

San Cipriano

The San Cipriano prospect lies in the south central part of the Hurricane project. Reconnaissance sampling returned values including copper from 1% to 40%, platinum up to 6.3 g/t, nickel up to 1%, silver up to 241 g/t along with anomalous gold and palladium. Drilling returned PGE rich intersections up to 4.4 g/t TPM (1.8 g/t Pt, 1.2 g/t Pd, 1.4 g/t Au) and 54g/t Ag over 6.8m.

Ñañohuayco

The Ñañohuayco prospect is located a few kilometres south of the San Cipriano project. Mineralization occurs at the contact of a gabbroic intrusive and an ultramafic in contact with a sedimentary sequence. Two large areas of heavily gossaned outcrop were discovered and are located approximately 100 metres apart. Preliminary drilling intersected several high grade intersections up to 2.6% Cu, 0.6% Ni, 0.03% Co, 0.56 g/t Pd, 0.33 g/t Pt, 0.23 g/t Au and 8.7 g/t Ag over 14m. The mineralization is believed to be flat lying and dipping shallowly into the mountain.

Jatan Puma

The Jatan Puma prospect was discovered along a stream located approximately 5 kilometres south of the Negrohuarcuña occurrence at Hurricane. Prospecting led to the discovery of mafic-ultramafic rocks containing disseminated to semi-massive sulphides that assay up to 4.4% Cu, 2.43 % Ni, 0.1% Co, 0.46 g/t Pd, 1.3 g/t Pt, 12 g/t Ag over a 1 metre channel sample. This new zone is exposed over 8.5 metres and averages 2.1% Cu, 0.86% Ni, 0.04% Co, 0.96 g/t Pd and 0.6 g/t Pt over its length.

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