Central Sun Mining Inc.
TSX : CSM
TSX : CSM.WT
AMEX : SMC

Central Sun Mining Inc.

December 10, 2007 14:42 ET

Central Sun Provides Update on 2007 Exploration Program in Nicaragua & Outlines Plans for 2008

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2007) - Central Sun Mining Inc. (the "Company")(TSX:CSM)(TSX:CSM.WT)(AMEX:SMC) is pleased to provide an update on results of the 2007 exploration program and to outline the strategy for exploration in 2008. In 2007, diamond drilling was completed at the Orosi Mine (formerly Libertad), Limon Mine and Mestiza projects. Exploration results in 2007 were previously reported in a press release dated February 27, 2007.

Peter Tagliamonte, President & CEO commented: "With the restructuring and refinancing of Central Sun Mining now complete, we are embarking on a very aggressive exploration program in 2008 to significantly expand resources at our Orosi and Limon mine, further explore the Mestiza project located 70 km east of Limon as well as evaluate our extensive property holdings in these areas. The exploration program budgeted at CDN$7 million will include 25,000+m of diamond drilling with drilling to commence in early January 2008."

Dr. Bill Pearson, P.Geo., Executive Vice President, Exploration said: "Planning for the 2008 program is well advanced. Drilling will initially commence in the Limon mine area where six major target areas have already been defined. Induced polarization geophysical surveys are planned on the potential eastern extension of Orosi along with geological mapping and trenching to define drill targets on this extensive structure. Drilling here is scheduled to start in April after the target definition work is completed. Geological work including data compilation is already in progress on Mestiza and some of the other regional targets; targets outlined here will be drill tested later in the year. We have assembled a very strong exploration team in Nicaragua and we have excellent logistical support from our mining personnel."

Dr. Pearson went on to add: "The low sulphidation epithermal systems that host gold mineralization in Nicaragua are much stronger and more extensive than is generally realized. A major objective of the 2008 program will be to evaluate the potential of the full extent of the systems and in particular to better understand the controls on the higher grade mineralization."

2007 Exploration Results

Orosi Mine

The in-fill diamond drilling program conducted at the Orosi Mine to upgrade inferred mineral resources to the indicated mineral resource category has been successfully completed. The new drill results are being incorporated into an updated mineral resource estimate being prepared by Scott Wilson RPA, Inc. ("Scott Wilson") as part of the Orosi Mine Mill feasibility study currently in progress. The in-fill drilling program comprised of 94 holes totaling 9,509 metres including one metallurgical hole (DDH15M) and was completed over an eight month period. Holes were drilled on 25 m sections with intercepted intervals at less than 60 m apart on section to a vertical depth of 60-90 m. Some exploration drilling was also completed to test the eastern extension of the main deposit structure (Mojon-Santa Elena) as well an additional vein structure (Cuernos de Oro), located 1.2 km north of the Mojon pit.

Table 1A below lists significant drilling results in the Orosi mine area and Table 1B gives collar coordinate and orientation data for the holes. Highlights are as follows:



Santa Maria
- 6.82 g Au/t (3.73 cut) over 4.0 m true width in DDH39
- 71.13 g Au/t (10.03 cut) over 2.8 m true width in DDH43
- 5.26 g Au/t over 11.6 m true width in DDH59
- 15.02 g Au/t over 9.6 m true width in DDH60
- 11.93 g Au/t (8.42 cut) over 10.4 m true width in DDH61
- 18.33 g Au/t (14.06 cut) over 8.2 m true width in DDH67
- 6.12 g Au/t over 4.4 m true width in DDH88

Mojon
- 2.42 g Au/t over 10.6 m true width in DDH73
- 3.94 g Au/t over 23.0 m true width in DDH74

Santa Elena
- 24.45 g Au/t (9.54 cut) over 1.7 m true width in DDH84
- 2.32 g Au/t over 10.9 m true width in DDH86
- 5.68 g Au/t over 14.0 m true width in DDH87


Drilling continues to confirm the presence of Bonanza-style higher grade mineralization within the more extensive lower grade mineralization. The vein structures on the Orosi property which covers 14,496 ha extend for approximately 20 km along strike with the vast bulk of previous exploration concentrated in the mine area that extends for about 2 km.

Limon Mine

An extensive underground in-fill diamond drilling in the Talavera zone totaling 4,830 metres in 41 holes was completed over the past six months. Holes were collared at 25 m spacing and intersected targets at intervals of less than 60 m apart vertically to a depth of 30 m. Table 2A below lists significant results and Table 2B lists collar coordinates and orientation data. These drill results are being incorporated into an updated mineral resource and reserve estimate for the mine. Highlights are as follows:



- 6.92 g Au/t over 3.2 m true width in 3376-U
- 6.24 g Au/t over 2.3 m true width in 3377-U
- 11.47 g Au/t over 2.0 m true width in 3378-U
- 6.72 g Au/t over 1.9 m true width in 3380-U
- 8.99 g Au/t over 2.5 m true width in 3381-U
- 14.27 g Au/t over 2.2 m true width in 3385-U
- 7.58 g Au/t over 5.9 m true width in 3389-U
- 6.24 g Au/t over 6.6 m true width in 3392-U
- 6.36 g Au/t over 1.8 m true width in 3401-U
- 8.05 g Au/t over 5.2 m true width in 3405-U
- 5.04 g Au/t over 3.1 m true width in 3406-U
- 8.21 g Au/t over 1.7 m true width in 3407-U
- 7.11 g Au/t over 2.6 m true width in 3413-U


A diamond drilling program of 6 holes totaling 783 m tested the north-south extension of the El Limon zone located about 2.0 km northeast of Talavera. Table 2A below lists significant results and Table 2B lists collar coordinates and orientation data. Highlights are as follows:



- 4.53 g Au/t over 6.4 m true width in 3395
- 4.22 g Au/t over 3 m true width in 3399


Mestiza Project

The Mestiza project is located 70 kilometres east of the Limon Mine. As previously reported (Annual Information Form for the fiscal year ended December 31, 2006) Mestiza contains an inferred mineral resource of 689,700 tonnes grading 10.3 g Au/t containing 228,000 oz of gold. In 2007, a trench sampling program along a 600 m strike length of the vein and three (3) drill holes totaling 619 m were completed before the program was terminated due to financial constraints. The Mestiza prospect is part of the La India district that covers an area of 6,500 hectares and is underlain by a sequence of mid Tertiary volcanic rocks that host rock several low sulfidation, epithermal gold-bearing quartz veins of different thicknesses and attitudes.



Significant trenching results are as follows:

Table 3: Significant results from Trench sampling, Mestiza Project

------------------------------------------------------------
Trench Easting Northing True Width Gold Silver
(m) (m) (m) (g/t) (g/t)
------------------------------------------------------------
TR-24 574154 1413325 0.9 1.60 7.20
------------------------------------------------------------
TR-26 574311 1413158 1.4 5.28 13.28
------------------------------------------------------------
TR-203 574314 1413081 1.2 4.06 11.80
------------------------------------------------------------
TR-215 574276 1413081 1.0 2.84 8.07
------------------------------------------------------------
TR-379 574304 1413165 1.1 1.08 3.60
------------------------------------------------------------
TR-383 574193 1413279 1.2 5.93 9.94
------------------------------------------------------------
TR-400 574294 1413179 1.5 4.62 11.60
------------------------------------------------------------
TR-401 574326 1413027 0.6 8.88 6.38
------------------------------------------------------------
TR-402 574334 1413028 0.6 1.85 0.92
------------------------------------------------------------
TR-403 574352 1413028 0.9 3.43 3.45
------------------------------------------------------------


Results from the three diamond drill holes completed are as follows:

---------------------------------------------
Core True
From To Length Width Gold
Hole (m) (m) (m) (m) (g/t)
---------------------------------------------
TAT01 220.2 229.4 9.4 9.1 0.35
---------------------------------------------
TAT02 163.5 164.6 1.1 1.0 6.94
---------------------------------------------
TAT03 155.2 164.1 9.0 7.0 0.45
---------------------------------------------


Further work is planned on Mestiza in 2008 including induced polarization surveys to better define areas of mineralization within the vein structures and to look for areas where multiple vein structures may be present.

Sampling, Assaying and Quality Control

The core is logged, photographed and then sampled with half the core retained and stored on-site. Samples are taken as half of the sawn core that varies in size from HQ (63.5 mm) for metallurgical holes to NQ (47.6 mm) for the other drill holes. All core samples were prepared and assayed at either the Company's Limon Mine or its Orosi Mine laboratories.

Both the Limon and Libertad mine laboratories use normal industry procedures. The entire half-core samples were crushed to pass 10-mesh-size sieve, a 1/4 split was then pulverized to have greater than 90% pass the 200-mesh-sized sieve to produce a 100 gram homogenized sub-sample. A one-assay ton aliquot (a 29.2 gram sub-sample) is used for fire assaying with an atomic absorption (AA) or gravimetric finish to determine gold concentration. Internal quality control includes the use of blanks, duplicates and standards in every batch of samples. The Company also conducts internal check assaying. Regular external check assays are performed at a certified Canadian commercial laboratory.

Qualified Person

Graham Speirs, P.Eng., COO for Central Sun Mining, is the Qualified Person responsible for the disclosure of the drill results as defined by National Instrument 43-101. The drilling program was being conducted under Mr. Speirs. The laboratory results reported herein and the internal quality control information were reviewed and verified by Mr. Speirs. Mr. Speirs has read and approved this news release.

About Central Sun Mining

The Company is a gold producer with mining and exploration activities focused in Nicaragua. The Company operates the Limon Mine in Nicaragua and plans to convert the Orosi Mine in Nicaragua to conventional milling and expand annual gold output. It also holds an option to acquire a 100% interest in the Mestiza gold property which is located 70 kilometres from the Limon Mine. The Company focuses on efficient and productive mining practices to establish a firm base of quality operations. Central Sun Mining is committed to growth by optimizing current operations and expanding mineral reserves at existing mines.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of the Company's new strategic plan, the future financial or operating performance of the Company, its subsidiaries and its projects, the future price of gold, estimated recoveries under the milling plan, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital for the mill project, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability, insurrection or war; delays in obtaining governmental approvals or required financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "General Development of the Business - Risks of the Business" in the Company's annual information form for the year ended December 31, 2006 on file with the securities regulatory authorities in Canada and the Company's Form 40-F on file with the Securities and Exchange Commission in Washington, D.C.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities law.



Table 1A: Summary of Significant Drilling Results, Orosi Mine

-----------------------------------------------------------------------
Gold
Core True (g/t) Zone
From To Length Width -----------------------------
Hole(i) (m) (m) (m) (m) Uncut Cut(ii)
-----------------------------------------------------------------------
DDH15M 99.75 105.27 5.52 3.8 1.61 Santa Maria
-----------------------------------------------------------------------
106.77 115.75 8.98 6.1 7.75 Santa Maria
-----------------------------------------------------------------------
DDH37 51.40 61.90 10.10 8.4 1.87 Santa Maria
-----------------------------------------------------------------------
DDH38 10.17 15.40 5.23 2.8 1.44 Santa Maria
-----------------------------------------------------------------------
DDH39 44.00 49.50 5.50 4.0 6.82 3.73 Santa Maria
-----------------------------------------------------------------------
61.70 63.55 1.85 1.3 5.35 Santa Maria
-----------------------------------------------------------------------
DDH40 97.62 100.50 2.88 2.3 7.63 Santa Maria
-----------------------------------------------------------------------
DDH41 108.70 112.60 3.90 2.8 8.86 Santa Maria
-----------------------------------------------------------------------
DDH42 116.70 128.45 11.75 10.6 15.78 10.8 Santa Maria
-----------------------------------------------------------------------
DDH43 117.00 120.94 3.94 2.8 71.13 10.03 Santa Maria
-----------------------------------------------------------------------
DDH44 nsv Santa Maria
-----------------------------------------------------------------------
DDH45 129.30 131.20 1.92 1.4 0.68 Santa Maria
-----------------------------------------------------------------------
DDH46 127.36 130.36 3.00 1.9 0.82 Santa Maria
-----------------------------------------------------------------------
DDH47 73.70 75.02 1.32 0.9 2.12 Santa Maria
-----------------------------------------------------------------------
DDH48 66.80 70.76 3.96 2.8 0.95 Santa Maria
-----------------------------------------------------------------------
DDH49 nsv Santa Maria
-----------------------------------------------------------------------
DDH50 nsv Santa Maria
-----------------------------------------------------------------------
DDH51 nsv Santa Maria
-----------------------------------------------------------------------
DDH52 nsv Santa Maria
-----------------------------------------------------------------------
DDH53 31.20 41.20 10.00 8.7 1.11 Santa Maria
-----------------------------------------------------------------------
55.77 59.10 3.33 3.0 1.75 Santa Maria
-----------------------------------------------------------------------
DDH54 nsv Santa Maria
-----------------------------------------------------------------------
DDH55 12.30 22.90 10.60 8.7 3.90 Santa Maria
-----------------------------------------------------------------------
DDH56 nsv Santa Maria
-----------------------------------------------------------------------
DDH57 104.58 112.20 7.62 4.1 0.41 Santa Maria
-----------------------------------------------------------------------
DDH58 17.50 20.05 2.55 2.1 0.45 Santa Maria
-----------------------------------------------------------------------
DDH59 46.80 61.90 15.10 11.6 5.26 Santa Maria
-----------------------------------------------------------------------
DDH60 133.13 144.20 11.07 9.6 15.02 Santa Maria
-----------------------------------------------------------------------
DDH61 61.10 79.26 18.16 10.4 11.93 8.42 Santa Maria
-----------------------------------------------------------------------
DDH62 146.67 154.95 8.28 6.4 0.44 Santa Maria
-----------------------------------------------------------------------
DDH63 149.15 149.75 0.60 0.4 8.17 Santa Maria
-----------------------------------------------------------------------
DDH64 115.80 120.18 4.38 3.6 1.72 Santa Maria
-----------------------------------------------------------------------
DDH65 65.45 70.55 5.10 4.6 0.63 Santa Maria
-----------------------------------------------------------------------
DDH66 70.90 75.70 4.80 3.9 4.71 Santa Maria
-----------------------------------------------------------------------
DDH67 76.45 85.20 8.75 8.2 18.33 14.06 Santa Maria
-----------------------------------------------------------------------
DDH68 33.84 34.45 0.61 0.5 44.52 25.00 Santa Maria
-----------------------------------------------------------------------
63.95 71.20 7.25 5.6 1.62 Santa Maria
-----------------------------------------------------------------------
DDH69 32.71 36.60 3.89 3.7 4.86 Santa Maria
-----------------------------------------------------------------------
DDH70 70.40 71.75 1.35 0.9 11.13 Santa Maria
-----------------------------------------------------------------------
DDH71 26.90 30.15 3.25 1.6 3.47 Santa Maria
-----------------------------------------------------------------------
DDH72 99.22 100.86 1.64 0.7 2.86 Santa Maria
-----------------------------------------------------------------------
DDH73 62.70 77.60 14.90 10.6 2.42 Mojon
-----------------------------------------------------------------------
79.40 81.20 1.80 1.3 2.63 Mojon
-----------------------------------------------------------------------
DDH74 68.40 100.80 32.40 23.0 3.94 Mojon
-----------------------------------------------------------------------
DDH75 42.20 56.60 14.40 10.2 1.33 Mojon
-----------------------------------------------------------------------
DDH76 79.40 85.10 5.70 5.0 2.36 Mojon
-----------------------------------------------------------------------
DDH77 114.52 115.67 1.15 0.8 4.74 Babilonia
-----------------------------------------------------------------------
DDH78 nsv Babilonia
-----------------------------------------------------------------------
DDH79 88.00 95.30 7.30 5.2 1.02 Babilonia
-----------------------------------------------------------------------
DDH80 nsv Mojon
-----------------------------------------------------------------------
DDH81 nsv Santa Elena
-----------------------------------------------------------------------
DDH82 76.70 84.80 8.10 7.4 1.53 Mojon
-----------------------------------------------------------------------
102.40 113.70 11.30 9.3 1.37 Mojon
-----------------------------------------------------------------------
DDH83 15.50 26.60 11.10 7.9 2.47 Santa Elena
-----------------------------------------------------------------------
DDH84 36.30 38.75 2.45 1.7 24.45 9.54 Santa Elena
-----------------------------------------------------------------------
55.72 62.60 6.88 4.9 1.01 Santa Elena
-----------------------------------------------------------------------
DDH85 228.43 232.37 3.94 2.9 1.16 Mojon
-----------------------------------------------------------------------
262.00 266.92 4.92 3.5 3.33 Mojon
-----------------------------------------------------------------------
DDH86 19.00 34.38 15.38 10.9 2.32 Santa Elena
-----------------------------------------------------------------------
DDH87 73.30 93.00 19.70 14.0 5.68 Santa Elena
-----------------------------------------------------------------------
DDH88 79.69 85.90 6.21 4.4 6.12 Santa Maria
-----------------------------------------------------------------------
DDH89 12.25 19.75 7.50 5.3 0.55 Santa Maria
-----------------------------------------------------------------------
DDH90 5.50 11.20 5.70 3.3 2.49 Santa Maria
-----------------------------------------------------------------------
DDH91 87.91 100.00 12.09 8.6 1.78 Santa Elena
-----------------------------------------------------------------------
106.30 117.97 11.67 8.3 1.34 Santa Elena
-----------------------------------------------------------------------
DDH93 nsv Santa Elena
-----------------------------------------------------------------------
DDH94 81.33 91.22 9.89 6.7 5.25 Santa Elena
-----------------------------------------------------------------------


(i)All holes are NQ core size; nsv equals no significant values; holes to
DDH36 reported in February 27, 2007 press release
(ii) High sample assays capped at 40 g/t for massive quartz zones and 25
g/t for stockwork zones; the cut values were established geostatistically.



Table 1B: Collar Coordinates and Orientations of Drill Holes, Orosi Mine

-------------------------------------------------------
Hole Easting Northing Elev. Length Az (i) Dip (i)
-------------------------------------------------------
DDH15M 50362.17 49902.55 557.29 125.7 330 -65
-------------------------------------------------------
DDH37 50223.11 49833.55 514.34 88.8 330 -53
-------------------------------------------------------
DDH38 50245.84 49892.42 522.24 66.7 330 -60
-------------------------------------------------------
DDH39 50329.65 49897.34 541.88 106.0 330 -60
-------------------------------------------------------
DDH40 50316.91 49868.24 540.11 96.5 330 -45
-------------------------------------------------------
DDH41 50382.89 49904.69 565.27 126.8 330 -60
-------------------------------------------------------
DDH42 50442.94 49902.51 575.76 137.3 330 -47
-------------------------------------------------------
DDH43 50482.09 49934.00 570.51 136.2 330 -52
-------------------------------------------------------
DDH44 50168.17 49726.06 511.93 175.4 330 -54
-------------------------------------------------------
DDH45 50190.67 49737.13 505.59 145.2 330 -45
-------------------------------------------------------
DDH46 50203.72 49764.22 506.37 140.7 330 -50
-------------------------------------------------------
DDH47 50416.98 49945.38 585.01 143.5 330 -55
-------------------------------------------------------
DDH48 50490.64 49967.84 583.81 130.6 330 -50
-------------------------------------------------------
DDH49 50441.26 49903.36 575.61 171.7 330 -60
-------------------------------------------------------
DDH50 50543.48 50020.06 561.30 87.2 330 -50
-------------------------------------------------------
DDH51 50574.38 50033.21 564.73 89.2 330 -60
-------------------------------------------------------
DDH52 50626.05 50042.68 575.86 102.5 330 -50
-------------------------------------------------------
DDH53 50080.69 49778.78 513.50 105.4 330 -46
-------------------------------------------------------
DDH54 50601.99 50031.57 570.32 81.5 330 -65
-------------------------------------------------------
DDH55 50096.11 49802.48 505.30 79.4 330 -45
-------------------------------------------------------
DDH56 50457.09 49976.88 590.58 55.7 330 -55
-------------------------------------------------------
DDH57 50515.35 49972.79 576.93 124.7 330 -60
-------------------------------------------------------
DDH58 50181.01 49855.46 530.09 44.1 330 -55
-------------------------------------------------------
DDH59 50102.43 49778.25 511.20 102.1 330 -50
-------------------------------------------------------
DDH60 50523.81 49956.79 534.91 158.5 330 -60
-------------------------------------------------------
DDH61 50102.77 49777.62 511.28 108.0 330 -60
-------------------------------------------------------
DDH62 50519.73 49917.91 555.45 162.2 330 -50
-------------------------------------------------------
DDH63 50492.02 49917.13 525.83 161.7 330 -55
-------------------------------------------------------
DDH64 50451.02 49931.15 578.39 133.8 330 -57
-------------------------------------------------------
DDH65 50412.72 49953.89 581.38 88.0 330 -62
-------------------------------------------------------
DDH66 50374.77 49917.96 564.03 105.6 330 -50
-------------------------------------------------------
DDH67 50359.64 49897.31 557.34 133.1 330 -55
-------------------------------------------------------
DDH68 50326.77 49903.37 541.75 118.0 330 -60
-------------------------------------------------------
DDH69 50298.74 49908.12 534.41 54.4 330 -48
-------------------------------------------------------
DDH70 50291.01 49876.50 527.12 101.7 330 -58
-------------------------------------------------------
DDH71 50267.93 49901.92 525.97 53.0 330 -68
-------------------------------------------------------
DDH72 50206.33 49783.33 509.87 131.6 330 -55
-------------------------------------------------------
DDH73 48749.99 49516.92 461.41 131.7 330 -45
-------------------------------------------------------
DDH74 48750.70 49516.31 461.53 131.4 330 -60
-------------------------------------------------------
DDH75 49043.57 49708.45 485.64 124.8 330 -55
-------------------------------------------------------
DDH76 49008.40 49618.96 480.63 212.2 330 -55
-------------------------------------------------------
DDH77 49692.19 49935.14 477.21 131.3 330 -53
-------------------------------------------------------
DDH79 49773.19 49995.68 496.60 126.0 330 -65
-------------------------------------------------------
DDH80 48787.54 49452.47 493.83 82.2 330 -45
-------------------------------------------------------
DDH81 49949.57 50096.82 518.66 71.5 330 -60
-------------------------------------------------------
DDH82 49127.67 49663.74 495.70 166.6 330 -50
-------------------------------------------------------
DDH83 49925.05 50141.47 540.86 53.0 330 -56
-------------------------------------------------------
DDH84 49978.45 50141.59 534.51 142.1 330 -55
-------------------------------------------------------
DDH85 48789.36 49407.65 498.41 278.4 330 -55
-------------------------------------------------------
DDH86 49890.84 50089.46 514.56 77.0 330 -70
-------------------------------------------------------
DDH87 50054.70 50203.88 548.88 105.5 330 -50
-------------------------------------------------------
DDH88 50463.28 49949.29 583.45 118.6 330 -50
-------------------------------------------------------
DDH89 50354.37 49937.25 563.80 34.5 330 -45
-------------------------------------------------------
DDH90 50330.15 49931.71 553.91 38.9 330 -55
-------------------------------------------------------
DDH91 50139.48 50310.39 577.76 119.4 330 -50
-------------------------------------------------------
DDH92 50506.91 50022.25 584.65 62.4 330 -65
-------------------------------------------------------
DDH93 50096.47 50284.96 580.93 105.2 330 -55
-------------------------------------------------------
DDH94 50204.31 50347.15 596.77 135.1 330 -60
-------------------------------------------------------

(i) Azimuth (Az) and Dip are measured in degrees.



Table 2A: Summary of Significant Drilling Results,
Limon Mine, Talavera and El Limon Zones.

------------------------------------------------
Core True
From To Length Width Gold
Hole(i)(ii) (m) (m) (m) (m) (g/t)
------------------------------------------------
3369-U nsv
------------------------------------------------
3370-U abandoned fault
------------------------------------------------
3371-U nsv
------------------------------------------------
3372-U 179.90 182.00 2.10 1.8 2.95
------------------------------------------------
3373-U no vein
------------------------------------------------
3374-U 45.48 46.00 0.52 0.4 1.44
------------------------------------------------
3375-U 41.20 42.20 1.00 0.8 3.27
------------------------------------------------
3376-U 43.85 47.70 3.85 3.2 6.92
------------------------------------------------
3377-U 41.92fg 44.72 2.80 2.3 6.24
------------------------------------------------
3378-U 76.70 79.30 2.60 2.0 11.47
------------------------------------------------
3379-U 68.93 70.74 1.81 1.5 3.39
------------------------------------------------
3380-U 89.30 92.13 2.83 1.9 6.72
------------------------------------------------
3381-U 46.60 49.57 2.97 2.5 8.99
------------------------------------------------
3382-U 43.92 44.90 0.98 0.8 3.25
------------------------------------------------
3383-U 43.80 44.57 0.77 0.7 21.26
------------------------------------------------
3384-U 40.91 42.18 1.27 1.2 5.67
------------------------------------------------
3385-U 52.45 54.90 2.45 2.2 14.27
------------------------------------------------
3386-U 55.44 57.00 1.56 1.3 3.54
------------------------------------------------
3387-U 56.68 58.88 2.20 1.5 2.57
------------------------------------------------
3388-U 47.12 47.92 0.80 0.7 3.29
------------------------------------------------
3389-U 9.12 16.00 6.88 5.9 7.58
------------------------------------------------
3390-U 7.80 9.80 2.00 1.7 5.09
------------------------------------------------
3391-U abandoned
------------------------------------------------
3392-U 17.30 25.00 7.70 6.6 6.24
------------------------------------------------
3393-U 39.00 39.60 0.60 0.4 20.09
------------------------------------------------
3394-U nsv
------------------------------------------------
3395-U 61.90 69.55 7.65 6.4 4.53
------------------------------------------------
3396-U 19.42 20.52 1.10 1.0 5.79
------------------------------------------------
26.28 28.50 2.22 2.1 1.27
------------------------------------------------
40.71 42.15 1.44 1.3 6.58
------------------------------------------------
64.09 64.56 0.47 0.4 6.75
------------------------------------------------
3397-U 51.00 55.12 4.12 3.0 3.68
------------------------------------------------
3398-U 52.94 54.60 1.66 1.4 2.08
------------------------------------------------
60.00 61.50 1.50 1.3 3.01
------------------------------------------------
3399-U 50.80 53.80 3.00 3.0 4.22
------------------------------------------------
3400-U 31.30 40.00 8.70 8.5 1.31
------------------------------------------------
3401-U 44.00 46.00 2.00 1.8 6.36
------------------------------------------------
54.00 55.60 1.60 1.5 6.13
------------------------------------------------
3402-U 59.20 60.80 1.60 1.3 2.70
------------------------------------------------
66.40 68.00 1.60 1.3 4.50
------------------------------------------------
3403-U 58.00 61.60 3.60 3.2 3.90
------------------------------------------------
3404-U 197.80 200.00 2.20 1.8 1.50
------------------------------------------------
3405-U 200.50 207.00 6.50 5.2 8.05
------------------------------------------------
3406-U 192.20 196.00 3.80 3.1 5.04
------------------------------------------------
3407-U 195.00 205.00 10.00 8.8 2.70
------------------------------------------------
incl. 195.00 196.90 1.90 1.7 8.21
------------------------------------------------
incl. 199.00 205.00 6.00 5.2 1.84
------------------------------------------------
3408-U no vein
------------------------------------------------
3409-U 191.10 192.10 1.00 0.9 1.80
------------------------------------------------
3410-U 71.45 80.05 8.60 8.0 1.56
------------------------------------------------
3411-U nsv
------------------------------------------------
3412-U 63.40 69.80 6.40 6.0 1.91
------------------------------------------------
3413-U 76.80 81.29 4.49 2.6 7.11
------------------------------------------------
3414-U 71.65 77.25 5.60 5.4 1.85
------------------------------------------------
3415-U nsv
------------------------------------------------

(i)All holes are HQ, NQ or BRQ core size; nsv
equals no significant values
(ii)Holes 3395, 3399, 3400, 3410, 3412 and 3414 were drilled in the
north-south extension of the El Limon zone.


Table 2B: Collar Coordinates and Orientations of Drill Holes,
Limon Mine, Talavera and El Limon Zones.

------------------------------------------------------------------
Hole(ii) Easting Northing Elev. Length Az (i) Dip (i)
------------------------------------------------------------------
3369 524523.51 1409548.53 -103.5 230.0 157 5
------------------------------------------------------------------
3370 523749.69 1409345.08 58.0 401.1 145 -50
------------------------------------------------------------------
3371 524523.51 1409548.53 -103.0 175.0 157 11
------------------------------------------------------------------
3372 524523.51 1409548.53 -103.6 192.0 146 7
------------------------------------------------------------------
3373 523690.68 1409321.93 56.22 467.5 145 -48
------------------------------------------------------------------
3374 525280.08 1409696.37 -100.7 58.4 10 -9
------------------------------------------------------------------
3375 525280.08 1409696.37 -99.5 89.0 11 10
------------------------------------------------------------------
3376 525280.08 1409696.37 -100.7 61.0 322 11
------------------------------------------------------------------
3377 525280.08 1409696.37 -99.5 56.0 322 12
------------------------------------------------------------------
3378 525275.91 1409672.46 -101.2 80.0 309 -5
------------------------------------------------------------------
3379 525275.91 1409672.46 -102.0 79.0 309 9
------------------------------------------------------------------
3380 525275.91 1409672.46 -102.5 101.0 309 -13
------------------------------------------------------------------
3381 525280.08 1409696.37 -100.5 64.6 322 -16
------------------------------------------------------------------
3382 525280.08 1409696.37 -98.2 62.2 322 25
------------------------------------------------------------------
3383 525280.08 1409696.37 -99.5 61.0 350 0
------------------------------------------------------------------
3384 525280.08 1409696.37 -98.5 47.4 350 24
------------------------------------------------------------------
3385 525280.08 1409696.37 -100.7 66.0 350 -21
------------------------------------------------------------------
3386 525207.46 1409663.11 -102.7 59.4 360 3
------------------------------------------------------------------
3387 525207.46 1409663.11 -103.6 64.4 360 -18
------------------------------------------------------------------
3388 525207.46 1409663.11 -101.3 56.0 360 33
------------------------------------------------------------------
3389 524693.03 1409389.40 -107.0 43.0 156 0
------------------------------------------------------------------
3390 524693.03 1409389.40 -105.8 44.0 156 19
------------------------------------------------------------------
3391 524695.06 1409390.85 -107.0 47.0 120 0
------------------------------------------------------------------
3392 524695.06 1409390.85 -105.8 43.0 125 25
------------------------------------------------------------------
3393 524694.90 1409396.36 -106.5 53.4 102 0
------------------------------------------------------------------
3394 524694.90 1409396.36 -108.0 55.0 102 16
------------------------------------------------------------------
3396 524635.69 1409375.98 -113.2 84.0 182 0
------------------------------------------------------------------
3397 525072.63 1409800.39 -18.2 61.0 314 11
------------------------------------------------------------------
3398 525072.64 1409801.09 -17.7 76.0 357 -15
------------------------------------------------------------------
3401 525072.64 1409801.09 -17.7 81.0 357 5
------------------------------------------------------------------
3402 525074.94 1409800.84 -18.7 81.3 9 -11
------------------------------------------------------------------
3403 525074.94 1409800.84 -18.0 64.2 9 4
------------------------------------------------------------------
3404 525266.38 1409729.71 -75.0 217.0 319 3
------------------------------------------------------------------
3405 525266.38 1409729.71 -75.0 220.4 319 -3
------------------------------------------------------------------
3406 525266.38 1409729.71 -74.5 209.0 327 3
------------------------------------------------------------------
3407 525266.38 1409729.71 -75.0 212.3 327 -3
------------------------------------------------------------------
3408 525266.38 1409729.71 -74.5 135.1 337 3
------------------------------------------------------------------
3409 525266.38 1409729.71 -75.0 206.0 337 -2
------------------------------------------------------------------
3411 525266.38 1409729.71 -74.5 232.2 347 3
------------------------------------------------------------------
3413 525878.19 1410038.58 -115.0 102.0 329 -17
------------------------------------------------------------------
3415 525878.19 1410038.58 -115.0 92.0 304 -18
------------------------------------------------------------------

(i) Azimuth (Az) and Dip are measured in degrees.
(ii) Holes 3395, 3399, 3400, 3410, 3412 and 3414 were drilled in the
north-south extension of the El Limon zone.


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