Overview

Conga is a gold-rich copper porphyry system that lies northeast of the Yanacocha district. A northwest belt of Eocene granodiorites intruded Cretaceous limestones, forming gold-copper porphyry and skarn mineralization. Three intrusive centers have been identified to date containing a total of approximately 600 million tons of sulfide gold-copper mineralization amenable to flotation. A feasibility study was completed in 2004. The Company continues to evaluate the optimum development plan for Conga, and currently anticipates that production would not commence until after 2010.

Exploration Potential

Two intrusive centers - Chailhuagon and Perol - contain the majority of the mineralization identified to date. These areas have been largely delineated by past drilling. Current drilling is focused on infilling some of the fringe areas to reserve spacing. A third intrusive center - Amaro - hosts skarn and porphyry mineralization and has been the target of more recent exploration drilling . Highgrade gold and copper mineralization was intersected in a number of drill holes. There are several surface geochemistry anomalies in the area around Chailhuagon and Perol. Geological mapping and sampling are in progress to further define these areas.

Above: Chailhaugon – cross section.