Quarterly Activities Report & Appendix 5B

The Project is located in Northern Spain in the provinces of Navarra and Aragón (refer Figure 1 below). The Project includes 12 permits (five under application) covering an area of 956km2 (refer Table 1 below). Figure 1 – Map Showing Iberian Copper Tenements, Historic Copper Mines and Recorded Outcrops and Interpreted Extent of the Belt (Oligocene Formation) The Project is targeting the North Span