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Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposed to mineral deposits that a company can economically and legally extract or produce. We use certain terms on the web site, such as “reserves,” “geologic resources,” “proven,” “probable,” “measured,” “indicated,” or “inferred,” which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20 – F, File No. 000-52570. You can review and obtain copies of these filing from the SEC’s website at http://www.sec.gov/edgar.shtml

Table 1: Resource Estimate, Constancia Project, April 14, 2008


Cut-off Grade

Tonnes

Copper Grade

Molybdenum Grade

Silver Grade

(% CU)

(Million)

(% CU)

(% Mo)

(g/t Ag)

Indicated Resources

0.5

92.0

0.81

0.013

6.0

0.4

132.3

0.70

0.013

5.5

0.3

193.7

0.59

0.013

4.9

0.25

229.9

0.54

0.012

4.6

0.2

256.3

0.50

0.012

4.4

Inferred Resources

0.5

13.7

0.71

0.010

6.0

0.4

27.3

0.58

0.011

5.0

0.3

72.5

0.43

0.011

3.8

0.25

112.9

0.37

0.010

3.4

0.2

156.5

0.33

0.010

3.2

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