UPDATE ON ACQUISITION OF PICO MACHAY PROJECT - PERU
December 8, 2003
On May 26, 2003 the Company announced that it had entered into an agreement pursuant to which it has agreed to purchase 100% of the share capital of Minera Calipuy S.A.C., a private company constituted under Peruvian law by issuing a total of 2,400,000 million common shares in the Company. The acquisition is subject to TSX Venture Exchange approval. Pursuant to TSX Venture Exchange policies the Company is required to appoint a sponsoring broker for the trans action. The Company is pleased to announce that it has appointed Dundee Securities Corporation in Toronto to act as sponsoring broker.
 
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