Paso Yo Bai 43101

NI 43-101 TECHNICAL REPORT ON PASO YOBAI PROJECT, DEPARTMENT GUAIRA, PARAGUAY PREPARED FOR LATIN AMERICAN MINERALS INC.
FEBRUARY 15, 2008 D. GEORGE CARGILL, PH.D., P.ENG.

CONSULTING GEOLOGICAL ENGINEER CARGILL CONSULTING GEOLOGISTS LIMITED SUITE 501, 55 UNIVERSITY AVE., TORONTO, ON M5J 2H7 CANADA
TABLE OF CONTENTS
PAGE
1 SUMMARY.................................................................................................................................................1 EXECUTIVE SUMMARY.........................................................................................................................1 INTRODUCTION ..................................................................................................................................1 INTERPRETATION AND CONCLUSIONS...........................................................................................2 RECOMMENDATIONS .........................................................................................................................3 TECHNICAL SUMMARY ........................................................................................................................4 PROPERTY DESCRIPTION AND LOCATION.....................................................................................4 HISTORY ...............................................................................................................................................5 GEOLOGY .............................................................................................................................................6 2 INTRODUCTION AND TERMS OF REFERENCE .............................................................................9 SOURCES OF INFORMATION................................................................................................................9 LIST OF ABBREVIATIONS ...................................................................................................................10 3 RELIANCE ON OTHER EXPERTS .....................................................................................................11 4 PROPERTY DESCRIPTION AND LOCATION .................................................................................12 MINERA GUAIRA EXPLOITATION CONCESSION (MINING LEASE) ...........................................12 MINAS PARAGUAY EXPLOITATION CONCESSION (MINING LEASE)........................................12 EXPLORATION PERMITS.....................................................................................................................13 MINING LAW AND TAXATION...........................................................................................................15 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ......................................................................................................................................17 ACCESSIBILITY.....................................................................................................................................17 CLIMATE ................................................................................................................................................17 LOCAL RESOURCES .............................................................................................................................17 INFRASTRUCTURE ...............................................................................................................................18 PHYSIOGRAPHY ...................................................................................................................................18 6 HISTORY..................................................................................................................................................18 7 GEOLOGICAL SETTING......................................................................................................................19 REGIONAL GEOLOGY..........................................................................................................................20 LOCAL GEOLOGY.................................................................................................................................20 PROPERTY GEOLOGY..........................................................................................................................23 8 DEPOSIT TYPES.....................................................................................................................................26 9 MINERALIZATION ...............................................................................................................................29 QUARTZ-SULPHIDE AU-STYLE MINERALIZATION ......................................................................29 EPITHERMAL QUARTZ-CARBONATE AU-MN-STYLE LOW SULPHIDATION MINERALIZATION ................................................................................................................................29 10 EXPLORATION ....................................................................................................................................30 SATELLITE IMAGERY..........................................................................................................................32 HELICOPTER EM AND MAGNETIC SURVEY ...................................................................................32 MAGNETIC SURVEY ............................................................................................................................32 VERSATILE TIME DOMAIN ELECTRO MAGNETIC (VTEM) SURVEY......................................34 MINERALIZATION IN THE PITS .........................................................................................................36 SOIL GEOCHEMICAL SURVEY...........................................................................................................39
11 DRILLING..............................................................................................................................................42 12 SAMPLING METHOD AND APPROACH ........................................................................................55 SOIL SAMPLES.......................................................................................................................................55 ROCK CHIP SAMPLES...........................................................................................................................55 DRILL CORE SAMPLES ........................................................................................................................55 13 SAMPLE PREPARATION, ANALYSES AND SECURITY .............................................................56 SOIL SAMPLES.......................................................................................................................................56 ROCK CHIP SAMPLES...........................................................................................................................56 DRILL CORE SAMPLES ........................................................................................................................57 METALLIC OR SCREEN FIRE ASSAYS .............................................................................................57 14 DATA VERIFICATION........................................................................................................................57 15 ADJACENT PROPERTIES ..................................................................................................................60 16 MINERAL PROCESSING AND METALLURGICAL TESTING...................................................60 17 MINERAL RESERVE ESTIMATES...................................................................................................60 18 RELEVANT DATA AND INFORMATION .......................................................................................61 19 INTERPRETATION AND CONCLUSIONS ......................................................................................61 20 RECOMMENDATIONS .......................................................................................................................62 21 REFERENCES .......................................................................................................................................66 22 SIGNATURE PAGE ..............................................................................................................................68 23 CERTIFICATE OF QUALIFICATIONS............................................................................................69 D. GEORGE CARGILL........................................................................................................................69 APPENDIX 1 ............................................................................................................................................. 1-1 COMPLETE DRILL HOLE GOLD ASSAYS ....................................................................................... 1-1 APPENDIX 2 ............................................................................................................................................. 2-1 EXAMPLES OF DRILL LOGS.............................................................................................................. 2-1
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LIST OF TABLES
PAGE
PHASE ONE PROGRAM...............................................................................................................................3 PHASE TWO PROGRAM..............................................................................................................................4 TABLE 7.1 STRATIGRAPHY EASTERN PARAGUAY ..........................................................................23 TABLE 10.1 EXPLORATION EXPENDITURES 2007............................................................................30 TABLE 10.2 SIGNIFICANT ROCK CHIP SAMPLES .............................................................................38 TABLE 10.3 DESCRIPTIVE STATISTICS OF THE SOIL SAMPLE DATABASE ...............................41 TABLE 11.1 DIAMOND DRILL HOLE COORDINATES.......................................................................43 TABLE 11.2 SIGNIFICANT DIAMOND DRILL ASSAYS .....................................................................43 TABLE 14.1 CARGILLS SAMPLES FROM PITS....................................................................................59 TABLE 14.2 CARGILLS RE-ASSAY OF DRILL CORE........................................................................59 TABLE 14.3 CARGILLS RE-ASSAY OF PULPS ...................................................................................60 TABLE 20.1 PHASE ONE PROGRAM.....................................................................................................63 TABLE 20.2 PHASE TWO PROGRAM....................................................................................................64
LIST OF FIGURES
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FIGURE 4.1 LOCATION MAP..................................................................................................................14 FIGURE 4.2 MINERAL TITLE..................................................................................................................16 FIGURE 7.1 EASTERN PARAGUAY GEOLOGY...................................................................................21 FIGURE 7.2 PARAGUAY MINERAL OCCURRENCES.........................................................................22 FIGURE 7.3 REGIONAL GEOLOGY .......................................................................................................25 FIGURE 8.1 EXPLORATION MODEL.....................................................................................................28 FIGURE 10.1 SOIL IKONOS AND GEOPHYSICS LOCATION MAP...................................................31 FIGURE 10.2 REDUCED TO POLE MAGNETIC MAP ..........................................................................33 FIGURE 10.3 SHALLOW CONDUCTOR EM ANOMALY MAP...........................................................35 FIGURE 10.4 ROCK CHIP SAMPLES......................................................................................................37 FIGURE 10.5 SOIL SAMPLING PROGRAM...........................................................................................40 FIGURE 11.1 DRILL HOLE LOCATION MAP .......................................................................................46 FIGURE 11.2 DIAMOND DRILL HOLES LAT-1, LAT-2 .......................................................................47 FIGURE 11.3 DIAMOND DRILL HOLES LAT-3, LAT-4, LAT-5 ..........................................................48 FIGURE 11.4 DIAMOND DRILL HOLES LAT-6, LAT-7 .......................................................................49 FIGURE 11.5 DIAMOND DRILL HOLE LAT-8 ......................................................................................50 FIGURE 11.6 DIAMOND DRILL HOLE LAT-9 ......................................................................................51 FIGURE 11.7 DIAMOND DRILL HOLE LAT-10 ....................................................................................52 FIGURE 11.8 DIAMOND DRILL HOLE LAT-11 ....................................................................................53 FIGURE 11.9 DIAMOND DRILL HOLE LAT-12 ....................................................................................54 FIGURE 14.1 ASSAYS OF A STANDARD SAMPLE .............................................................................58 FIGURE 14.2 THOMPSON AND HOWATH PLOT OF DUPLICATE ASSAYS ...................................58 FIGURE 20.1 RECOMMENDED DRILL HOLES PHASE ONE ..........................................................65
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1 SUMMARY
EXECUTIVE SUMMARY
INTRODUCTION Cargill Consulting Geologists Limited (Cargill) was retained by Mr. David Wahl, President and CEO of Latin American Minerals Inc (the Company), to prepare a report on the PasaoYobai property (the Property) located about 150 km southeast of Asuncion, Paraguay. This report is entitled NI-43-101 Technical Report on Paso Yobai Property, Department Guaira, Paraguay and dated February 15, 2008. Technical Report conforms to Canadian NI 43-101 Standards of Disclosure for Mineral Projects. Latin American Minerals Inc. is an exploration company working in Argentina, Paraguay and Colombia. It does not have any mine production or advanced stage projects at the present time. The Paso Yobai Property is an early stage exploration project with surface geochemical surveys, airborne geophysical surveys and twelve holes drilled prior to December 31, 2007. There has been some artisanal production from several pits and a little mechanical production from other pits, all located on the Property. There has never been a resource estimate for any of these pits and production records are poor to nonexistent. Cargill has not had any prior involvement with the Property, except for two site visits in support of this report. This report is considered by Cargill to meet the requirements of a Preliminary Assessment as defined in NI 43-101 regulations. The Property is an early stage exploration project and there is no inferred resource estimated for any of the pits on the Property. Site visits were carried out by D. George Cargill from October 2 to 4, 2007 and February 6 to 7, 2008. The information contained in this report is based on information on file in the public domain including, but not restricted to, Government of Paraguay maps and publications, limited historic data provided from the Property owners, and on data generated by the Company as a result of exploration completed on the Property over the past year. The data collection and compilation was completed by professional geologists and or exploration technicians under the direction of Dr. Perez, P.Geo., the Companys Qualified Person as defined by NI 43-101. D. George Cargill prepared all parts of this report.
INTERPRETATION AND CONCLUSIONS 1) Artisanal mining has demonstrated a large zone of gold mineralization in soils and weathered rocks, on the Property. 2) Geophysical, geochemical, and geological exploration has demonstrated gold mineralization on the Property is related to: a) A zone of mafic (basalt) dykes (the Dyke Zone). b) The Dyke Zone is bounded and cut by faults parallel to the strike and offset by faults at a high angle to the strike of the zone. c) The Paso Yobai Gold Zone (the Main Gold Zone) has been traced 6.5 km by soil geochemistry and airborne magnetics and is variably exposed on surface by artisan miners for 3.6 km. Very high gold values in soil geochemistry mark the Main Gold Zone, which corresponds to a linear zone of high magnetic values, bounded by zones of low magnetic values. d) The aeromagnetic and soil surveys show magnetic anomalies with corresponding gold anomalies parallel to the Main Gold Zone, which suggest parallel mineralized dykes. e) The distribution of the parallel magnetic anomalies, which are interpreted to be dykes, may be controlled by structures at a high angle to the Main Gold Zone. f) EM anomalies also parallel the Dyke Zone. These EM anomalies are interpreted as derived from deep sources, and are tentatively interpreted as derived from deep-seated bodies of sulphides. g) Rock samples from the artisanal mine workings indicate gold mineralization is related to quartz veins in altered mafic dyke and altered (silicified) sandstone near the contacts of the dyke. h) Gold in the artisanal workings appears controlled by post dyke structures. i) Gold occurs in veins associated with sulphides (pyrite) and as coarse grained, free gold in veins without sulphides. j) Bonanza grades occur when the sulphide-free veins with visible gold are superimposed on the veins containing pyrite. k) Paso Yobai has many similar characteristics to several large gold and copper deposits associated with alkaline rocks, such as Porgera, Cripple Creek, Ladolam, and Palabora. 3) The initial drill program of 12 holes totalling 1,989.2 m, has indicated: a) The dyke ranges from 5 to 40 m thick and continues to at least 100 m depth. b) Gold occurs in an altered dyke and sandstones controlled by structural zones, breccias, veins, stock-works within the dyke, and within the altered sandstones near the contact of the dyke. c) Coarse grained free gold giving bonanza assays has been found to depths of about 100 m, which suggests that much of the free gold is primary. 4) Drilling on the aeromagnetic and soil geochemical anomalies has demonstrated that the gold mineralization is related to carbonate-quartz veins cutting the mafic 2
dyke, and altered sandstones near the contact of the dyke. The gold mineralization including the bonanza grades continues to depths of 100 m. 5) Although there are only 12 widely spaced drill holes, higher grade, gold mineralization appears related to variations in the position of the dyke along strike that appear to be dilation zones. The current data indicates that the primary targets in the Main Gold Zone are plunging shoots of structurally controlled gold mineralization. 6) The initial work on the parallel aeromagnetic and soil geochemical gold anomalies suggests that they are similar to the Main Gold Zone and controlled by structures at a high angle to the Main Gold Zone. 7) The parallel zones present targets similar to those on the Main Gold Zone. However, multiple parallel zones close to the Main Gold Zone, or to each other, could constitute a target of a large volume of structurally controlled gold mineralization. RECOMMENDATIONS Cargill recommends a two-phase exploration program with the scope and extent of the second phase contingent on the results of the first phase. 1) The first phase of the exploration will consist of drilling the remaining drill targets (3,000 m) (Figure 20.1) and carrying out soil geochemistry, geology and trenching both to infill the existing grid and to extend the grid to the east and west to explore parallel dyke systems, summarized as follows.
PHASE ONE PROGRAM

Salaries and fees Soil sampling Geochemistry and assaying Drilling to complete testing of the established drill targets Reporting Subtotal Contingencies 10% Total 3,000 m 6,000 samples $150,000 $50,000 $80,000
$550,000 $20,000 $850,000.00 $85,000 $935,000
2) The current information indicates a second phase of exploration is warranted. However, the exact scope of work will be based on the results of the Phase One Program. As currently envisioned, the Phase Two Program will consist of: a) Geochemistry, trenching and mapping to better define the parallel dykes and to extend the Main Gold Zone along strike. b) Drilling to test new targets developed on the parallel zones and along strike on the Main Gold Zone. Approximately 5,000 m of drilling will be required. c) Definition drilling on the two best zones within the Main Gold Zone. Cargill estimates that about 12 drill sections with about 5,000 m of drilling will be required to test each zone.
PHASE TWO PROGRAM

Salaries and fees Soil sampling Geochemistry and assaying Drilling to complete testing of the established drill targets Reporting Subtotal Contingencies 10% Total 15,000 m 4,000 samples $450,000 $45,000 $150,000
$2,700,000 $50,000 $3,395,000.00 $339,,500 $3,734,500
TECHNICAL SUMMARY
PROPERTY DESCRIPTION AND LOCATION The Paso Yobai Property is located in south central Paraguay, approximately 150 km southeast of Asuncion (Figure 4.1). The Property consists of two exploitation concessions and four exploration concessions covering an aggregate total of 15,332 ha. The exploitation (mining) concessions, covering 7,200 ha are owned by two private companies, Minera Guaira and Minas Paraguay, but held under an option agreement with the Company. The Company has received approval for exploration concession Rio Verde (1,332 ha) and is awaiting approval of the remaining three exploration concessions covering 6,800 ha. On approval the Company will hold a 100% interest in the exploration concessions.
MINERA GUAIRA EXPLOITATION CONCESSION (MINING LEASE)
The Minera Guaira Mining Lease covers 6,700 ha and was granted by the Republic of Paraguay in 2003 pursuant to its individual Act 2.079/03 (the Guaira Mining Lease). 4
On February 17, 2007, the Company signed the Contract of Option to Purchase Mining Lease Rights with Minera Guaira S.A. (Minera Guaira) as amended on April 18, 2007 and February 5, 2008; which gives, the Company the option to earn a 70% interest in the Guaira Mining Lease by paying escalating cash payments totalling US$2.1 million over 3 years, expending US$500,000 on exploration in Year 1 plus the delivery of 100,000 shares of the Company to Minera Guaira. The Febraury 5, 2008 amendment provided for satisfaction of the $100,000 cash payment due by April 1, 2008 by issuing 114,149 common shares of the Company. On vesting of the 70% interest, a joint venture will be formed. Under the joint venture, if Minera Guairas participating interest drops to 15%, 14% of said interest converts to a 3% NSR. Minera Guaira has been granted an environmental license, required for production, that is valid through July 2009; however, the Company has temporarily suspended production to fully evaluate the resource of the Guaira Mining Lease.
MINAS PARAGUAY EXPLOITATION CONCESSION (MINING LEASE)
The Minas Paraguay Mining Lease covers 500 ha and was granted by the Republic of Paraguay in 2001 pursuant to its individual Act 1.708/01 (Minas Mining Lease). On February 17, 2007 the Company signed the Contract of Option to Purchase Mining Lease Rights with Minas Paraguay S.A. (Minas Paraguay) as amended on April 18, 2007, which gives the Company the option to earn a 70% interest in the Minas Mining Lease by paying escalating cash payments totalling US$2.0 million over 3 years, expending US$ 750,000 on exploration over 2 years plus delivering US$ 50,000 in common shares of the Company. On vesting of the 70% interest, a joint venture will be formed and if Minas Paraguays participating interest drops to 5%, 4% of said interest converts to a 10% NPI. Minas Paraguay has been granted an environmental license, required for production, and exploration through to July 2009. The Company has temporarily suspended production to fully evaluate the resource of the Minas Mining Lease.
EXPLORATION PERMITS
During 2007, the Company dropped several exploration permits, received approval for exploration concession Rio Verde (1,332ha) and submitted application for three new exploration concessions: Block A (4,000ha), Block B (500ha) and Block C (2,300ha). The total area of the exploration concessions under application is 6,800 ha. As of the date of this report approval for the three exploration concession is pending. The Company holds all permits required to carry out the proposed exploration on the Properties. HISTORY The largest reported exploration property in the Paraguay program was between 1978 and 1982 when the Anschutz Corporation carried out an exploration program in the Parana Basin for Colorado Plateau type uranium deposits. After spending about $25 million dollars, Anschutz stopped the program. Recently other companies have been 5
acquiring exploration concessions in Paraguay to cover the uranium anomalies defined by Anschutz. In the late 1990s, Yamana Resources explored for gold in the alkaline rocks of Paraguay and drilled a prospect about 50 km east of Paso Yobai but abandoned the claims and left the county. Work done on the Property consists of: 1996 - Original discovery of the gold occurrence on the Minas Paraguay property by Daniel Benitez. 2001 - Daniel Benitez staked ground and hired a geologist, Juan Carlos Benitez, no relation. 2002 - Juan Carlos Benitez wrote a geological report summarizing his surface work and Beitez sold 78% of the property to Ortellado, a construction company. Ortellado purchased a gravity mill in Brazil and used a backhoe and trucks to open up an area 1.2 km long, 20 to 40 m wide, and 5 to 50 m deep on top of the main dyke. Production is not documented but a mine production of 150 oz/month is reported but not supported. Ortellado did no grade or process control and did not assay the ore or the tailings. 2002 - Ortellado hired Dr. Schalamuk from La Plata University in Argentina. He described the deposits exposed in the pits and did some geochemical sampling. He recommended magnetic and resistivity surveys. 2002 - Sr. Iske completed a magnetometer survey on the adjacent Minera Guaira Property and mapped the exposures in the pits. 2003 - Sr. Tessone from the La Plata University Group reported the results of the magnetometer survey that mapped the dike. 2007 - The Company optioned the Minera Guaira Mining Lease and the Minas Paraguay Mining Lease. 2007 - The Company began the first modern exploration program on the Property . GEOLOGY Paraguays geological framework consists of three cratons ranging in age from 3,800 to 2,700 Ma, composed of gneisses, granulites and greenstone belts, surrounded by 950550 Ma old metamorphic rocks broadly referred to as the Brazilian Shield. These rocks are covered by intra-cratonic red beds of Carboniferous and Permian age. The geologic evolution of Paraguay to this point was related to the Gondwana Super Continent. With the beginning of the break-up of Gondwana in the Mesozoic, northwest rifts were generated in Eastern Paraguay and related basins filled with Triassic and Jurassic, fluvial and aeolian sandstones. The sedimentary units are intruded by two mafic units: the Alto 6
Parana Magmatic Suite and the Sapucai Magamatic Suite. Both units intrude as dikes, sills and extrusive rocks along northwest regional structures. The Sapucai Suite is alkali while the Alto Parana Suite is tholeitic. Radiometric ages for the Sapucai Suite range from 165 Ma to 115 Ma. The Paso Yobai area is covered by Carboniferous and Permian sediments that outcrop 20 km to the northwest. They are covered by sub-horizontal, Triassic-Jurassic, red, aeolian sandstones with local layers of mudstones. Three mafic units intrude the sedimentary rocks: 1.) Tholeitic-alkalic basalts; 2.) Alkalic basalts of the Sapucai Suite; and 3.) Mafic dikes. As the distinction between tholeitic and alkaline basalts is based on the K20 content; it is difficult to establish which are alkalic and which tholeiitic in the field. However, all intrusive rocks are intruded along northwest structures, which were part of the Mesozoic rifting process. The Property displays Mesozoic north-south, northwest and northeast elements in the structural grain, possibly projected through the cover sequence from the underlying older basement. The northwest structures are interpreted to have been active as extensional structures and the northeast as orthogonal fractures during the Cretaceous opening of the Atlantic Ocean. Deep crustal fractures could tap deep mafic intrusion source rocks for gold mineralization. The mafic dyke and its enclosed mineralization occur in a synistral normal fault as evidenced by sub-horizontal slickensides in the vicinity of the flexures. Where steep slickensides are recognized on surface, mineralization seems to improve or at least visible gold seems to be more common. Based on outcrop and drilling data the northwest trending mafic dykes apprear to dip to the northeast. In addition to the dykes, a pencil-shaped stock on the Property is believed to occur at the Cerro Mboy occurrence, where a knob like feature results from erosion of marginally softer, kaolin-pyrite (FeO) altered rocks. The scree of mafic rock rich in spherulites is typical of material developed by the concentration of volatiles in the uppermost portion of a blind magma chamber. Marginal silicified sandstones contain well-developed quartz veins, changing to quartz filled breccias at the top of the hill. These features are typical of alteration associated with a buried intrusion. Gold mineralization occurs in association with the northwest trending, mafic dikes interpreted as filling pre-existing structures active as normal faults. In detail the northwest dike trend is disturbed by small-scale structures that have: Local dextral offsets in dyke segments on intervening north-south cross faults. Better gold mineralization occurring where the northwest structures display flexures to the west-northwest to east-west, or where veins following this trend overprint the general northwest structures. 7
More steeply dipping fault zones displaying better gold mineralization evidenced by more extensive open space, quartz-crystal growth.
High-grade gold shoots occur as flexures where the dikes trend more towards the west. These vein portions generally dip more steeply which is typical of a dilatant setting in normal faults. While most slickensides on faults within the mineralized structural corridor are subvertical near the flexures, inclined slickensides occur. The environment is characterized by overall normal fault extension, with local components of strike-slip faulting. The localized sinistral, strike-slip, fault movement is responsible for the development of mineralized shoots in fault flexures and the shoots are interpreted to dip (plunge?) steeply. Normal fault activation would provide flat plunging shoots within the steep dipping fault portions, and inclined shoots could result from mixed components of dipslip and strike-slip fault activation. Corbett (2007) identified two types of vein mineralization in Paso Yobai: quartzsulphide gold-style mineralization and epithermal quartz-carbonate gold-manganese with low sulphidation mineralization.
QUARTZ-SULPHIDE AU-STYLE MINERALIZATION
Quartz-sulphide gold-(Au)-style mineralization commonly forms early in the paragenetic sequence of the development of intrusion-related gold deposits and comprises gold within crystalline pyrite. Drill holes demonstrate that mineralization in these veins contains high pyrite, kaolin and smectite.
EPITHERMAL QUARTZ-CARBONATE AU-MN-STYLE LOW SULPHIDATION MINERALIZATION
At Paso Yobai epithermal mineralization comprises several mm wide open carbonate, mangano-calcite and minor quartz veins, veinlets and stockworks. These veins are best developed as sheeted veins in the dilatant structural zones defined by west-northwest flexures in the northwest structural corridor. Better developed open carbonate veins are also apparent at outcrop scale on steeper dipping portions of moderately dipping faults. Minor, open-space breccias lined with fine-crystalline pyrite are interpreted to represent mineralization of this type. Many quartz-MnO veins contain wire like free gold growing in open space. These veins are associated with bonanza Au grades, commonly overprinting earlier auriferous pyrite. The Paso Yobai Gold Project has many similar characteristic of several large gold and copper deposits associated with alkaline rocks, such as Porgera, Cripple Creek, Ladolam, and Palabora (Corbett, 2007).
2 INTRODUCTION AND TERMS OF REFERENCE

Cargill Consulting Geologists Limited (Cargill) was retained by Mr. David Wahl, President and CEO of Latin American Minerals Inc. (the Company), to prepare a report on the Pasao Yobai property (the Property) 150 km southeast of Asuncion, Paraguay. This report is entitled NI-43-101 Technical Report on Paso Yobai Property, Department Guaira, Paraguay (the Property) and dated February 15, 2008. The Technical Report conforms to Canadian NI 43-101 Standards of Disclosure for Mineral Projects. The Company is an exploration company working in Argentina, Paraguay and Colombia. It does not have any mine production or advanced stage projects at the present time. The Property is an early stage exploration project. There has been surface mapping, rock sampling, geochemical and airborne geophysical surveys. There have also been 12 holes drilled to December 31, 2007. There has been some artisanal production from several pits on the Property and a little mechanical production from other pits. However, there has never been a resource estimate for any of the pits on the Property and production records are practically nonexistent. Cargill has not had any prior involvement with the Property, except for two site visits in support of this report. This report is considered by Cargill to meet the requirements of a Preliminary Assessment as defined in Canadian NI 43-101 regulations. The Property is an early stage exploration property with no resource estimated for any of the pits.
SOURCES OF INFORMATION
The information contained in this report is based on information on file in the public domain including, Government of Paraguay maps and publications, limited historic data provided from the Property owners and data generated by the Company as a result of exploration completed on the Property over the past year. The data collection and compilation was completed by professional geologists and exploration technicians under the supervision of Mr. Juan Carlos Benitez, General Manager Latin American Minerals Paraguay S.A. and Dr. Waldo Perez, the Companys Qualified Person. The documentation reviewed, and other sources of information, are listed at the end of this report in References. Discussions were held with the following personnel from Latin American Minerals Inc. 9
Mr. David G. Wahl, Engineer of Mines, P. Eng., P.Geo., President, CEO and Director. Dr. Waldo Perez, Ph.D. Sr. Vice President of Exploration and Director. Mr. Juan Carlos Benitez, B.Sc., General Manager, Paraguay. Carlos Gustavo Fernandez, M.Sc., Sr. Geologist. Mina Medina, B.Sc. Senior Geologist.
D. George Cargill prepared all parts of this report. Dr. Cargill visited the Property on October 4 to 6, 2007 and February 6 to 7, 2008.
LIST OF ABBREVIATIONS
Units of measurement used in this report conform to the SI (metric) system. All currency in this report is American dollars ($) unless otherwise noted.
C F g A A Bbl Btu C$ Cal Cfm Cm cm2 D dia. Dmt Dwt Ft ft/s ft ft
2 3
Micron degree Celsius degree Fahrenheit Microgram Ampere Annum Barrels British thermal units Canadian dollars Calorie cubic metres per minute Centimeter square centimeter Day Diameter dry metric tone dead-weight ton Foot foot per second square foot cubic foot Gram giga (billion) Imperial gallon
kPa kVA kW kWh L L/s M M m m

2 3
kilopascal kilovolt-amperes kilowatt kilowatt-hour liter litres per second metre mega (million) square metre cubic metre minute metres above sea level millimetre miles per hour megavolt-amperes megawatt megawatt-hour cubic metres per hour ounce per short ton Troy ounce (31.1035g) ounce per dry metric tonne part per million pound per square inch absolute pound per square inch gauge
Min MASL Mm Mph MVA MW MWh m /h opt, oz/st Oz oz/dmt Ppm Psia Psig
3
G G Gal
10
g/L g/t Gpm gr/ft Hr Ha Hp In in J K Kcal Kg Km km/h km2

2 3
gram per litre gram per tone Imperial gallons per minute grain per cubic foot grain per cubic metre Hour Hectare Horsepower Inch square inch Joule kilo (thousand) Kilocalorie Kilogram Kilometer kilometre per hour square kilometer
RL S St Stpa Stpd T Tpa Tpd US$ USg USgpm V W Wmt yd Yr

3
relative elevation second short ton short ton per year short ton per day metric tonne metric tonne per year metric tonne per day United States dollar United States gallon US gallon per minute volt watt wet metric tonne cubic yard year
gr/m3
3 RELIANCE ON OTHER EXPERTS

This report has been prepared by Cargill Consulting Geologists Limited (Cargill) for the Company. The information, conclusions, opinions, and estimates contained herein are based on: Information available to Cargill at the time of preparation of this report, Assumptions, conditions, and qualifications as set forth in this report, and Data, reports, and other information supplied by the Company and other third party sources.
For the purpose of this report, Cargill has relied on ownership information provided by the Company. Cargill has not researched Property title or mineral rights for the Paso Yobai Project and expresses no legal opinion as to the ownership status of the Property.
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4 PROPERTY DESCRIPTION AND LOCATION

The Paso Yobai Property is in south central Paraguay, about 150 km southeast of Asuncion (Figure 4.1). The Propery consists of two mining leases and four exploration concessions covering approximately 15,332 ha (Figure 4.2). The exploitation (mining) concessions are owned by two private companies Minera Guaira and Minas Paraguay, but held under option by the Company. The Company has received approval for exploration concession Rio Verde (1,332ha) and has submitted applications to acquire three (3) exploration concessions which, on approval will be wholly owned by the Company.
MINERA GUAIRA EXPLOITATION CONCESSION (MINING LEASE)

The Minera Guaira Mining Lease covers 6,700 ha and was granted by the Republic of Paraguay in 2003 pursuant to its individual Act 2.079/03 (the Guaira Mining Lease). On February 17, 2007, the Company signed the Contract of Option to Purchase Mining Lease Rights with Minera Guaira S.A. (Minera Guaira) as amended on April 18, 2007 and February 5, 2008; which gives the Company the option to earn a 70% interest in the Guaira Mining Lease by paying escalating cash payments totalling US$2.1 million over 3 years, expending US$500,000 on exploration in Year 1 plus the delivery of 100,000 shares of the Company to Minera Guaira. The Febraury 5, 2008 amendment provided for satisfaction of the $100,000 cash payment due by April 1, 2008 by issuing 114,149 common shares of the Company. On vesting of the 70% interest, a joint venture will be formed. Under the joint venture, if Minera Guairas participating interest drops to 15%, 14% of said interest converts to a 3% NSR. The Company has filed the required Quarterly Reports and paid Annual Canon Fees totalling $3,400. On or before the first anniversary of the Agreement the Company will have spent more than the $500,000 required on exploration. Minera Guaira has been granted an environmental license, required for production, that is valid through July 2009; however, the Company has temporarily suspended production to fully evaluate the resource of the Mining Lease.
MINAS PARAGUAY EXPLOITATION CONCESSION (MINING LEASE)

The Minas Paraguay Mining Lease covers 500 ha and was granted by the Republic of Paraguay in 2001 pursuant to its individual Act 1.708/01 (Minas Mining Lease). On February 17, 2007 the Company signed the Contract of Option to Purchase Mining Lease Rights with Minas Paraguay S.A. (Minas Paraguay) as amended on April 18, 2007, which gives the Company the option to earn a 70% interest in the Minas Mining Lease by paying escalating cash payments totalling US$2.0 million over 3 years, expending US$ 12
750,000 on exploration over 2 years plus delivering US$ 50,000 in common shares of the Company. On vesting of the 70% interest, a joint venture will be formed and if Minas Paraguays participating interest drops to 5%, 4% of said interest converts to a 10% NPI. The Company has filed the required Quarterly Reports and has paid Annual Canon fees totalling $750.00. On or before the first anniversary of the Agreement the Company will have expended in excess of the $500,000 required on exploration of the Mining Lease. Minas Paraguay has been granted an environmental license, required for production, and exploration through to July 2009. The Company has temporarily suspended production to fully evaluate the resource of the Mining Lease.
EXPLORATION PERMITS
During 2007, the Company dropped several exploration permits, received approval for exploration concession Rio Verde (1,332 ha) and submitted application for three new exploration concessions: Block A (4,000 ha), Block B (500 ha) and Block C (2,300 ha). The total area of the exploration concessions under application is 6,800 ha. As of the date of this report approval for the three exploration concession is pending. As the Company has not received formal approval for the exploration permits, no Canon fees have been paid. When the permits are formally approved payments of $0.85/ha ($6,715) will be required. The Company holds all permits required to carry out the proposed exploration on the Properties.
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MINING LAW AND TAXATION

Paraguay has no significant history of mining. On May 3, 2007, Sr. Hector Ruiz Dias, Deputy Mining Minister, Republic of Paraguay introduced the new Mining Law, assuring security of title and defining exploration and exploitation (mining) rights. Under the Mining Law, the mining royalty previously payable to the Government was eliminated as a means of encouraging mining investment in the country and to stimulate a fledgling exploration and mining industry. The VAT is 10% and the maximum income tax payable is 27.5%. Claims are granted as Prospecting Permits and are good for a period of one (1) year with the right for a six (6) month extension, or claims can be recorded as Exploration Concessions. Exploration Permits are granted for a period of two (2) years, with the right for a one (1) year extension. To maintain the concessions in good standing, Canon Fees are paid annually, payments range depending on the size and age of the concession. After the three (3) year exploration period the exploration concession can be converted to an Exploitation Permit. Exploitation Permits are granted when the Prospecting and Exploration phases have been completed and are granted for 25 years, renewable every 5 years. The exploitation permits are surveyed and the corners marked by concrete monuments. To maintain the concessions in good standing, quarterly technical reports must be filed with the Government and annual Canon Fees paid.
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5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

ACCESSIBILITY
Paraguay is a small land-locked country covering 406,752 km2. The population is 5.7 million with 57% living in the rural areas and 43% in the urban areas. The capital of Paraguay is Asuncion, a modern city with a population of approximately 2 million. Paraguay has a modern system of highways, railroads and an international airport in Asuncion with many daily flights to neighbouring countries. Paraguay is one of the largest power exporters in South America. The Property is located about 150 km east-southeast of Asuncion, Paraguay (55 55W; 24 42S). It can be reached from Asuncion by car along paved national highways and county roads (Figure 4.1). The drive from Asuncion to Paso Yobai takes about 4 hours. The Property is in the Paranea Region of Paraguay, east of the Paraguay River.
CLIMATE
The Paranea Region has a subtropical climate. It is humid with abundant precipitation throughout the year and moderate seasonal changes in temperature. The region has two distinct seasons: summer, October to March and winter, May to August. During winter, July is the coldest month with mean temperatures of about 17 C. There is no significant north-south variation and the number of days below freezing ranges from three to sixteen. However, no part of Paranea is free from the possibility of frost and crop damage. In the summer, October through March, the seasonal average is about 21 C with January, the hottest month, having a mean temperature of 27 C. During the daytime in the summer temperatures reaching 38 C are fairly common. Rainfall in the Paranea region is fairly evenly distributed. The least rain falls in August, 2 to 10 cm, and the two periods of maximum precipitation are March to May and October to November. The average annual rainfall is 152 to 165 cm.
LOCAL RESOURCES
Paraguays primary resource is agriculture with arable land forming about 6 % of the surface area and permanent pastures 55 %. Other resources include hydroelectric power, forestry, forests form 32% of surface area,, and the mining of limestone.
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INFRASTRUCTURE
Asuncion has the typical resources of a modern city. There is no history of mining in the country, but there is a strong construction industry, which supports a growing quarry, aggregate industry. Heavy road construction equipment is available in Asuncion and to a lesser extent locally. Paso Yobai is a small community having a population of 22,500. There is a small community hospital, police and fire station in Paso Yobai. There is labour locally available, which is largely agriculturally based, but there is a small but active group of local miners who are currently mining gold from prospect pits on the Property. The Company is working with these miners and training them in various modern exploration methods to advance the project. The Company office in Asuncion and the field office on the Property have the resources of modern offices including internet connections at both locations. The Company has a small, grass landing strip on the Property that is currently being re-approved for use by small aircraft. There is a 500 kv power line to the Property that supplies power to Alex Stewart Laboratories (Alex Stewart Assayers), sample preparation, laboratory.
PHYSIOGRAPHY
The area is a rolling plateau about 200 m above sea level. It has an overall slope to the east and the south. The principal rivers trend east-west and drain to the Paraguay River to the west and to the Paran River to the east. The ground surface has relatively low topography, 50 to 75 m. Most of the land has been cleared for agriculture but there are patches of forest between farms and near rivers.
6 HISTORY
Paraguay is a country with no history of mining although it has good exploration potential. The largest reported program was between 1978 and 1982 when Anschutz Corporation, a private American company, carried out an exploration program for oil, gas and minerals. After spending about $25 million dollars Anschutz defined an area with the potential to host a new uranium province. At this point Anschutz ceased exploration probably due to a drop in the price of uranium. Recently other companies have been acquiring exploration concessions in Paraguay to cover the uranium anomalies defined by Anschutz. In the late 1990s Yamana Resources explored for gold in the alkaline rocks of Paraguay and drilled a prospect about 50 km east of the Property, but subsequently abandoned the claims and left the county. 18
Work done on the Property includes: 1996 - Original discovery of the gold occurrence on the Minas Paraguay property by Daniel Benitez. 2001 - David Benitez staked ground and hired a geologist, Juan Carlos Benitez, who is no relation, to carry out a reconnaissance survey of the area. This survey found gold bearing veinlets in sandstones associated with a mafic dyke. 2002 - Juan Carlos Benitez wrote a geological report summarizing his surface work. Daniel Beitez sold 78% of the property to Ortellado, a construction company. Ortellado purchased a gravity mill and used a backhoe and trucks to open up an area 1.2 km long, 20 to 40 m wide, and 5 to 50 m deep on top of the main dyke. The production is not documented. A mine production of 150 oz per month is reported but not supported. Ortellado did no grade or process control and did not assay the ore or the tailings. 2002 - Ortellado hired Dr. Schalamuk from La Plata University in Argentina. Schalamuk described the deposits exposed in the pits and did some geochemical sampling which returned values of 1.93g/t Au, 2.84g/t Au, and 2.08g/t Au. Magnetic surveys were recommended. 2002 - Sr.Iske completed a magnetometer survey on the Minera Guaira property. This survey defined the mafic dyke. Sr. Iske also mapped the exposures in the pits. 2003 Sr. Tessone, from the La Plata University Group, reported that their magnetometer survey had mapped the location of the mafic dike.
2007 - The Company optioned the Minera Guaira Mining Lease and the Minas Paraguay Mining Lease. 2007 - The Company began the first modern exploration program on the Property .
7 GEOLOGICAL SETTING
Paraguay has limited information about its mineral wealth and geologic setting. There is no Government Geologic Survey and information is either private, company generated, or in scattered scientific reports. The only complete geological map of the country is at 1:1,000,000 scale produced in 1986 by Fulfaro and Alvarenga. The metallogenic map of Paraguay was completed by Caceres and Palmieri in 1986. These geologic and metallogenic maps summarize the regional work done in Paraguay between 1979 and 1983 by Anshustz Corporation who staked 64,000 m2, in eastern Paraguay, and performed a reconnaissance exploration program of mapping, Landsat image analysis, 19
and radiometric and magnetic airborne surveys. Anshustz Corporation left Paraguay in 1987, leaving an excellent database with samples, geophysical data, maps and descriptions of numerous showings and mineral occurrences. Most of this data has been lost and only scattered reports are found now in the Mining Department library. Figures7.1 and 7.2 show the geology and mineral occurrences of eastern Paraguay. There are no active metal mines in Paraguay and the only mining activity is in quarries. A program, sponsored by the German Government, exists to map Paraguay at 1:100,000 scale but only 4 sheets of 79 have been completed. The Property is partially covered by the 1:100,000 Villa Rica geology sheet by Gonzalez and Cubas (2001). This map, plus the geologic work of the Companys exploration team and interpretation of magnetic surveys and satellite imagery, produced the regional geology map for the Paso Yobai region (Figure 7.3).
REGIONAL GEOLOGY
Paraguays geological framework consists of three cratons ranging in age from 3.800 to 2,7 Ma, composed of gneisses, granulites and greenstone belts, surrounded by 950-550 Ma old metamorphic rocks broadly referred to as the Brazilian Shield. These rocks are covered by intra-cratonic red beds of Carboniferous and Permian age, the Coronel Oviedo Formation and Independencia Group (Table 7.1). The geologic evolution of Paraguay to this time was related to the Gondwana Super Continent, which consisted of Africa, Australia and South America. With the beginning of the break-up of Gondwana in the Mesozoic large northwesterly oriented rifts were generated in Eastern Paraguay and the related basins filled with Triassic and Jurassic, fluvial and aeolian sandstones, the Misiones Formation. The sedimentary rocks are intruded by two rift related, mafic units, the Alto Parana Magmatic Suite and the Sapucai Magamatic Suite. Both units intrude as dikes and sills and outcrop as extrusive rocks along northwest regional structures. The Sapucai Suite is alkali and consists of carbonatites, tephrites, nepheline syenites, shonkonites, malignites, phonolites, essexites, kimberlites and alkaline trachytes. The Alto Parana Suite consists of tholeitic and alkalic basalts and lamprophides (Gonzalez Nunez and Cubas Villalba, 2001). K-Ar radiometric ages for the Sapucai Suite range from 165 Ma to 115 Ma.
LOCAL GEOLOGY
The Paso Yobai area is covered by Carboniferous and Permian sediments that outcrop 20 km to the northwest (Figure 7.3). These sediments are covered by the Misiones Formation, which consists of sub-horizontal Triassic-Jurassic red, aeolian sandstones with local mudstone interbeds. There are three mafic intrusive units cutting these sedimentary units: 1.) tholeitic-alkalic basalts (Alto Parana Suite); 2.) alkalic basalts (Sapucai Suite); and 3.) mafic dikes. As the distinction between tholeitic and alkaline basalts is based on the K20 content it is difficult to establish in the field which are alkaline and which are tholeiites. However, all intrusive rocks intrude along northwest structures of the Mesozoic rifting process. 20
Figure 7.1
TABLE 7.1 STRATIGRAPHY EASTERN PARAGUAY

Latin American Minerals Inc Paso Yobai Project
Type of Intrusive Rock type
Age QuaternaryTertiary Tertiary
Formation
Rock Type Unconsolidated sediments
Intrusions
Stocks and dykes Basalts Stocks and dykes Thoeliitic basalts Stocks and dykes Sedimentary rocks including sandstones Sedimentary rocks Sedimentary rocks Sedimentary rocks Platform carbonate rocks High to low grade metasedimentary rocks
SodicAlkaline
Late Early Cretaceous Early Cretaceous
San Juan Bautista Gp Intrusions
KAlkaline rocks
Paran Basin Intrusions
KAlkaline rocks
JurassicCretaceous Permian PermianCarboniferous OrdovicianSilurian CambroOrdovician Archaean to Proterozoic
Misiones Fm
Independencia Gp Coronel Oviedo Gp Caacup and Itacurubi Gps Itacupumi Gp Crystalline Basement
PROPERTY GEOLOGY
The Property displays Mesozoic structural elements trending north-south, northwest and northeast. These may be projected through the cover sequence from structures in the basement. Northwest structures are interpreted as extensional structures and the northeast as orthogonal fractures formed during the Cretaceous opening of the Atlantic Ocean. As 23
deep crustal fractures they may be related to deep mafic intrusions, which are possible source rocks for gold. The mafic dyke and its associated mineralization occur in a sinistral normal fault marked by horizontal slickensides (Corbett, 2007). Where steep slickensides are recognized on surface, visible gold is more common. Although many northwest trending mafic dykes dip to the northeast in outcrop and drilling data, southwest dips have been determined from the aeromagnetic data. In addition to the dykes, a pencil-shaped stock is interpreted at the Cerro Mboy area on the Property (Figure 10.4), where a knob-like feature results from erosion of marginal, softer, kaolin-pyrite (FeOx) altered rocks. The talus of mafic rock rich in spherulites is characteristic of rock textures developed in the upper portion of blind magma chambers. Marginal silicified sandstones contain well developed quartz-veins, changing to quartzfill breccias at the top of the hill. These features are typical of alteration associated with a buried intrusion. Gold mineralization occurs associated with the northwest trending, normal-fault filling, mafic dykes. The northwest dyke trend is disturbed by small-scale structures believed to be local, dextral offsets in dyke segments on north-south cross faults. Other cross faults such as the northeast structures shown on the remote sensing data may also offset the main, northwest structures. In several instances, better gold mineralization within dilational sheeted-veins occurs where the northwest structures display flexures to the west-northwest to east-west, or where veins following this trend overprint the general northwest structures. More steeply-dipping fault portions than the general moderate dip display better mineralization apparent as more extensive, open-space quartz-crystal growth. High-grade gold shoots are interpreted to occur in flexures where the dykes trend more towards the west. These vein portions generally dip more steeply, as is typical of a dilated setting in normal faults. While most slickensides on faults, within the mineralized structural corridor, have sub-vertical trends, near the flexures inclined slickensides occur. The Paso Yobai environment is characterized by normal-fault extension, with local components of strikeslip faulting. The localized, sinistral, strike-slip fault movement is probably responsible for the development of mineralized shoots in fault flexures and the shoots are interpreted to dip (plunge?) steeply. Normal fault activation would create flat, plunging shoots within the steep-dipping faults, and inclined shoots could result from mixed dip-slip and strike-slip fault movements.
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8 DEPOSIT TYPES
Sillitoe (2002) pointed out that most gold deposits associated with alkaline rocks are broadly similar to those hosted by their cal-alkaline counterparts. However, alkaline suites were deficient in high-sulphidation epithermal-gold deposits. The characteristics of several large gold and copper deposits associated with alkaline rocks, Porgera, Cripple Creek, Ladolam, and Palabora, diverge from their most closely related deposit types making them unique. Most types of gold and copper deposits developed in calcalkaline provinces constitute exploration targets in and around alkaline igneous centres. Sillitoe (2002) thought that the possibility of encountering unconventional giant alkaline deposits lacking analogous calc-alkaline examples might be of greater interest. He also pointed out that while the greatest exploration potential was in or behind calc-alkaline arcs at convergent plate boundaries, an anorogenic, intra-continental setting should not be ignored. The model for Paso Yobai is part of the intra-continental rift environment (Figure 8.1). All known heat sources for the brines and mineralizing events are mafic to ultramafic, alkalic rocks. Alkalic rocks are known as important sources of mineralization, from the mafic and ultramafic to the felsic end of the spectrum. The Paso Yobai mineralization has similar characteristics to intra-continental rifts including: Mineralization hosted in veins and stockwork of calcite, minor quartz, mangano-calcite and fluorite. Mineralization spatially related to mafic dykes. Fluid inclusions show temperatures between 180 and 240 C and salinities of 2.5 Wt% NaCl. PIMA (Portable Infrared Spectrometer) measurements show smectite-calcitesilica alteration assemblages, characteristic of low temperature, neutral brines. The geochemical signature of the stockworks has anomalous gold, vanadium, copper, arsenic and phosphorous. Gold present as fine-gold (<0.1 mm) grains and coarse-gold grains (up to 50 mm) in the carbonate veins. There is little silver in the gold.
These characteristics are typical of low sulphidation, epithermal, gold mineralization defined by Corbett and Leach, (1998), Corbett (2005) and Hedenquist et. al. (1996). Intrusion-related epithermal-gold mineralization often has supergene-gold enrichment, particularly in climates characterized by wet/dry cycles and tropical environments of deep weathering. At Paso Yobai, the questions as to whether gold enrichment at surface generated the gold, soil anomaly and the presence of high-grade 26
gold in rock chip samples at surface represented a supergene enrichment of low, primarygold grades was important to resolve. Drilling has demonstrated high-grade goldmineralization occurs at depths of up to 200 m below surface oxidation. The Company has concluded that although supergene enrichment might exist in the area, it is not a major concern from the exploration perspective. Green, smectite-clay alteration commonly recognized in the vein system on surface and in all drill holes, suggests Paso Yobai is eroded to expose the top of an epithermal vein system. As a poorly eroded epithermal system, Paso Yobai is likely to have depth potential.
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9 MINERALIZATION
Corbett (2007) identified two types of vein mineralization in Paso Yobai: quartzsulphide gold-style mineralization and epithermal quartz-carbonate gold-manganese with low sulphidation mineralization.
QUARTZ-SULPHIDE AU-STYLE MINERALIZATION

Quartz-sulphide style, gold (Au) mineralization commonly forms early in the paragenetic sequence of the development of intrusion-related gold deposits and comprises gold within crystalline pyrite. Drill holes have demonstrated that mineralization of this type is associated with high pyrite, kaolin and smectite. Quartz-sulphide style, gold mineralization forms early in the paragenetic sequence of the development of intrusion-related gold-deposits and comprises pyrite, now oxidized to iron oxides (FeOx). Forms of quartz-sulphide mineralization recognized on the Property include: Disseminated pyrite within the dykes and wall rocks. Pyrite veins with local, coarse crystalline, tightly packed, quartz, as individual veins or packages of sheeted arrays. Shears and breccia zones with matrix of FeO and similar tightly packed, crystalline quartz.
EPITHERMAL QUARTZ-CARBONATE AU-MN-STYLE LOW SULPHIDATION MINERALIZATION

At Paso Yobai epithermal mineralization comprises several mm wide open carbonate, mangano-calcite and minor quartz- veins, veinlets and stockworks. This mineralization is best developed as sheeted veins in the dilated, structural zones defined by west-northwest flexures in the northwest structural corridor. The sheeted veins have better developed open carbonate veins. Minor, open-space breccias lined with fine-crystalline pyrite are believed to be this type of mineralization. Many quartz-MnO veins contain wire-like, free gold growing in open space. These veins are associated with bonanza gold grades and commonly overprint earlier auriferous-pyrite rich, quartz veins. At Cerro Mboy, minor, open-space breccias, lined with fine-crystalline pyrite are interpreted as this style of epithermal mineralization.
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Artisanal miners at the Granada pit (Figure 10.4) report the highest gold grades occur with kaolin in contact with jarosite. The kaolin-jarosite association suggests that quartzpyrite gold mineralization may have been upgraded by fluid mixing.
10 EXPLORATION
The major exploration programs on the Property include: interpretation of satellite imagery, airborne geophysics, soil geochemistry, rock chip sampling in artisanal workings, and limited mechanical trenching (Figure 10.1). The airborne geophysical survey was conducted by a contractor under the field supervision of Mr. John Kieley, P.Geo, the Companys independent consulting geophysicist and a Qualified Person. Sample preparation and analyses for soil samples, rock samples and drill core samples were carried out under the supervision of professionals from Alex Stewart Assayers a company of certified assayers in Mendoza, Argentina. The other aspects of the exploration program were carried out by company personnel under the supervision of the Companys Qualified Person, Dr. Waldo Perez. The costs of the work to the end of December 31, 2004 are summarized in Table 10.1.
TABLE 10.1 EXPLORATION EXPENDITURES 2007

Latin American Minerals Inc. Paso Yobai Project
Category Drilling Airborne Geophysics Property Payments Geochemistry Lab Construction Contracting: Cat work, trenching, water Salaries/fees Total Amount 2,000 m 3,546 km Costs (US $) $450,000 $475,000 $326,000 $100,000 $180,000 $149,000 $320,000 $2,000,000.00
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SATELLITE IMAGERY
The Company acquired IKONOS satellite imagery with a pixel definition of 50 cm covering an area of approximately 10 km x 10 km. This image has been used to help locate the drill holes, preliminary surface mapping of structures, there is limited or no outcrops, as well as to locate surface property boundaries, rivers, etcetera. The location of the area covered by the IKONOS image with respect to the mineral properties is shown in Figure 10.1.
HELICOPTER EM AND MAGNETIC SURVEY

On May 4, 2007, the Company signed a contract with Geotech Airborne Limited (Geotech) to carry out a helicopter-borne geophysical survey for about 2,500 line-km over the Paso Yobai Area. The airborne survey was carried out under the direct field supervision of Mr. John Kieley, P.Geo, the Companys independent consulting geophysicist and Qualified Person. Between June 18 and July 2, 2007, Geotech completed a survey of 3,546.1 line kilometers covering the Property (Anon, 2007). The principal geophysical sensors included a time domain, electro-magnetic (VTEM) system, and a cesium magnetometer. Ancillary equipment included a GPS navigation system and a radar altimeter. In-field data processing, which included quality control and compilation of data, was done at Paso Yobai. The final data processing including generation of final, digital-data products was done at Geotechs office in Aurora Ontario. End products of the survey included a totalmagnetic field-contour map and electromagnetic, stacked-profiles map. The contractor concluded that a number of EM anomaly groupings were identified and that ground follow-up of those anomalies should be carried out if they were supported by other geoscientific data.
MAGNETIC SURVEY
The Companys analysis of the airborne magnetic-data identified a strong, linear magnetic-anomaly previously discussed and related to the Main Gold Zone, as well as several additional and untested, linear magnetic-anomalies, inferred to be parallel dykes on the Property (Figure 10.2). The 6.5 km long Main Gold Zone traced by soil geochemistry and exposed intermittently along strike by artisanal miners for 3.7 km, has a distinct, high magnetic-signature bounded by two magnetic lows, which the Company believes reflects the alteration around the mineralized system. The magnetic survey also indicated that the dyke continues to the northwest beyond the limits of the gold soilanomaly for at least 2.7 km. To the southeast this linear magnetic feature is displaced by a north-easterly trending, magnetic lineament probably representing a northeast trending, conjugate-fault zone. After the displacement, the magnetic anomaly associated with the Main Gold Zone, soil anomaly can be traced to the southeast along strike for an addition 2.7 km. The total length of the linear magnetic anomaly locally 32
associated with the Main Gold Zone is approximately 11.9 km. The survey confirmed the regional, northwest, structural trend identifying numerous lenticular, magnetic anomalies trending northwest-southeast. The survey also identified several circular anomalies interpreted to be intrusive stocks.
VERSATILE TIME DOMAIN ELECTRO MAGNETIC (VTEM) SURVEY

The VTEM system is a new airborne, electromagnetic system. Key features include: Superior exploration depth over 400 metres. Low base frequency (25 or 30 Hz) for penetration through conductive cover. High spatial resolution 2 to 3 metres receiver-transmitter symmetry. Spotting drill targets directly off of the airborne results. Excellent resistivity discrimination and detection of weak anomalies. Virtually impervious to power line interference.
The VTEM survey identified numerous, variably conductive units associated with potentially significant structural and geological features on the Property. The shallow conductors on the apparent conductivity map (Figure 10.3) show a chargeable trend, about 4 km long, sub-parallel to the Main Gold Zone. Thirteen (13) structural features have been identified and are characterized by variably magnetic, linear conductors reflecting five (5) shallow-response conductors and eight (8) deep-response conductors, which typically trend north-westerly across the Property. The shallow response conductors range from 1 km to 2 km in length for an aggregate total strike length of 8 km. The deep response conductors range for from 1 km to 3 km long for an aggregate total strike length of 17 km. The Company believes that the conductors reflect shallow and deep seated structural features and/or mafic-alkalic dykes, and may contain sulphide mineralization. A large, VTEM anomaly located immediately south of the mafic-alkalic dyke is of unique size and shape and is coincident with an area of low magnetic values on the south side of the Main Gold Zone. The Company believes that this coincidence reflects an alteration finger print around the dyke. However, this coincidence does not exist on the north side of the dyke, which indicates that there is no conductivity associated with this area of low magnetic values. Drilling will be required to determine the cause of this unique VTEM anomaly.
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MINERALIZATION IN THE PITS

Rock chip data was obtained from sampling completed at Minera Guaira and Minas Paraguay pits, with additional sampling from the numerous pits excavated by the local miners (Figure 10.4). The sampling environment was hazardous due to the very unstable nature of the pit slopes in the workings. Extreme care was taken to collect the minimum amount of sample necessary so as not to disturb the stability of the pit walls. The extensive weathering profile and the extensive alteration of the rock also presented challenges. A total of 584 rock chip samples were collected in 2007. Table 10.2 presents the most significant rock chip assays. Typically, 3 kilos of material would be taken over 1 m. Because of the scale of the project, the sample numbers are tied to a geographic location, such as the name of a mine or pit and the results shown on the satellite image of the region. All sample preparation and analyses were carried out under the supervision of professionals from Alex Stewart Assayers.
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February 2008
TABLE 10.2 SIGNIFICANT ROCK CHIP SAMPLES

Sample Number 187370 10172 125 104 187362 GRANADA 144 187366 10396 150 10008 10400 10288 10397 10009 10007 10399 187369 GUAIRA 10048 143 10001 1998-W 10043 187347 1999-W 10119 10049 10090 141 10087 10004 187348 187351 10088 Sample Width (m) Grab 2.00 3.48 Grab Grab Grab Grab 2.00 Grab 0.40 2.00 2.00 2.00 0.50 0.40 2.00 Grab 0.50 Grab 0.50 0.20 0.50 Grab 0.20 2.00 0.50 1.00 1.00 1.00 0.50 Grab Grab 1.00
Target DELFIN
Au (g/t) 1.66 1.73 1.97 10.61 28.60 2.22 2.80 2.94 4.00 4.32 4.78 5.28 6.66 11.32 12.09 31.81 32.10 1.10 1.19 1.19 1.19 1.38 1.76 2.43 2.52 2.88 2.91 3.59 6.12 9.13 10.40 15.10 21.47
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TABLE 10.2 SIGNIFICANT ROCK CHIP SAMPLES

Sample Number 10002 TONY 118 117 42 187383 41 187308 187397 187392 Grab Grab Grab Sample Width (m) 0.50 4.01 1.20 0.15 Grab 0.2
Target
Au (g/t) 98.27 1.06 1.11 1.43 1.47 2.25 2.28 3.03 4.83
The rock chip results confirm the presence of significant gold values in weathered bedrock corresponding to the gold soil anomaly (Figure 10.5).
SOIL GEOCHEMICAL SURVEY

Based on the trend of the mineralized zone defined by the artisanal pits and on geological observations the geochemical survey grid was established with a baseline tending 135 and with grid lines every 200 m trending 045. Soil sample stations were established every 25 m along the grid lines. The location of the survey grid and the sample stations were GPS controlled. Based on the soil profile exposed in the pits, it was determined the best sample medium was at the A-B soil-horizon contact which is at a depth of between 0.5 m and 1.0 m. It was also determined that a 2.5 kg sample should be collected. A total of 8,500 samples will be collected on completion of the survey. The samples are tagged with a pre-numbered tag and bagged in micropore bags to allow humidity to evaporate. The samples were sent to the preparation facility on site operated by Alex Stewart Assayers. About 5,694 samples were collected in 2007. Results of the soil survey are shown on Figure 10.5. The basic statistical analysis of the current soil sampling database (5,694) is given in Table 10.3.
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February 2008
TABLE 10.3 DESCRIPTIVE STATISTICS OF THE SOIL SAMPLE DATABASE

Au (ppb) Valid cases Mean Std. error of mean Variance Std. Deviation Variation Coefficient rel. V.coefficient(%) Skew Kurtosis Minimum Maximum Range Sum 1st percentile 5th percentile 10th percentile 25th percentile Median 75th percentile 90th percentile 95th percentile 99th percentile Geom. mean 5,694 9.83 0.44 1,087.33 32.97 3.36 4.45 16.05 399.27 -2 1,065 1,067 55,960 -2 -2 -2 -2 4 9 23 45 112.05 ----
The gold soil, geochemical results are a valuable exploration tool. The survey defined the gold-bearing trend exposed by the local mineral and past producing mines of Minas Paraguay and Minera Guaira referred to as the Main Gold Zone, which has been traced along strike for 6.5 km and is variably up to 2 km wide. The diagnostic features of the Main Gold Zone anomaly are: 1) Statistically, the gold content in the soils is extremely high, ranging from 75 ppb to 1,100 ppb Au; 41
2) 3)
The strike length of the anomaly as currently defined is 6.5 km; The width of the soil anomaly is up to 1,500 m especially in the undisturbed forested area to the northwest. The magnitude of this anomaly is >50 ppb over 225 m, including nine continuous sample sites that average 243 ppb; The anomaly is repeated on multiple adjacent lines 200 m apart; The areal extent of the anomaly is regional covering in excess of 400 ha.
4) 5)
The anomaly in the area exploited by the local miners has an entirely different soil geochemical finger print. It is poorly defined and erratic. The soil-geochemical survey outlined several parallel zones that correspond to some of the magnetic highs parallel to the Main Gold Zone magnetic anomaly. Ongoing sampling will further define these new anomalies.
11 DRILLING
In October 2007, the Company signed a drill contract with Patagonia Drilling, based in Mendoza, Argentina, for 5,000 m of HQ diamond-core drilling using a truck-mounted UDR coring drill. Drilling commenced on November 1, 2007. The program comprises a series of diamond drill cross-sections at right angles to the trend of the gold-bearing zone designed to test the zone to depths up to 200 m. Twelve (12) holes, totalling 1,989.2 m, were drilled in 2007. The drill-hole locations and depths are presented in Table 11.1 and on Figure 11.1. Drill hole assays for gold are given in Appendix 1 and examples of the drill logs are presented in Appendix 2. During the 2008 drill program three holes have been completed. As of the date of this report assays are pending.
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TABLE 11.1 DIAMOND DRILL HOLE COORDINATES

Hole LAT-1 LAT-2 LAT-3 LAT-4 LAT-5 LAT-6 LAT-7 LAT-8 LAT-9 LAT-10 LAT-11 LAT-12 Depth (m) 137.90 165.30 128.30 152.70 243.40 143.50 263.90 310.20 153.00 56.90 129.00 129.00 Azimuth () 215 218 205 204 205 211 220 200 220 230 220 220 Inclination () -50 -65 -50 -65 -70 -50 -70 -65 -50 -60 -60 -60 X 599302 599302 599759 599760 599770 599703 599732 599863 599153 599011 599560 599560 Y 7148307 7148307 7147792 7147792 7147844 7147834 7147882 7148702 7148688 7148864 7147952 7147952
Assays have been received for drill holes LAT 1 through LAT 12 inclusive. Gold assays are included in Appendix 1. Significant gold assays are summarized in Table 11.2.
TABLE 11.2 SIGNIFICANT DIAMOND DRILL ASSAYS

From (m) DDH-LAT-1 92.00 Including: 92.00 DDH-LAT-3 Gold Bearing Zone Intersected over 1m from 112.00m to 113.00m 112.00 DDH-LAT-6 Gold Bearing Zone Intersected over 6m from 112.00m to 118.00m 112.00 Including: 118.00 6.00 11.00 15.30 113.00 1.00 12.60 13.00 94.00 2.00 4.23 5.96 102.00 10.00 1.64 To (m) Interval (m) Au (g/t)* Classic Fire Assay Au (g/t) Metallic Fire Assay
43

From (m) 112.00 113.00 114.00 115.00 which includes: 112.00 99.00 Including: 100.50 100.50 104.00 88.20 DDH-LAT-11 Gold Bearing Zone Intersected over 3.60 m from 89.20 m to 92.80 m 89.20 89.70 90.20 91.00 91.80 92.30 99.00 100.00 100.50 101.00 101.30 101.80 102.30 103.50 104.00 104.50 105.00 89.70 90.20 91.00 91.80 92.30 92.80 100.00 100.50 101.00 101.30 101.80 102.30 103.50 104.00 104.50 105.00 105.50 0.50 0.50 0.80 0.80 0.50 0.50 1.00 0.50 0.50 0.30 0.50 0.50 1.20 0.50 0.50 0.50 0.50 9.55 11.87 0.03 0.70 4.57 3.08 0.56 0.28 139.39 28.49 24.48 6.72 2.38 15.41 105.51 3.93 0.24 104.00 101.00 104.50 92.80 4.00 0.50 0.50 4.60 43.08 138.39 105.51 3.20 116.00 105.50 4.00 6.50 18.51 26.64 Gold Bearing Zone Intersected over 6.50m from 99.00 m to 105.50 m To (m) 113.00 114.00 115.00 116.00 Interval (m) 1.00 1.00 1.00 1.00 Au (g/t)* Classic Fire Assay 7.87 30.77 1.84 24.59 Au (g/t) Metallic Fire Assay 9.13 37.86 1.11 25.22
Gold Bearing Zone Intersected over 6.50 m from 99.00 m to 105.50 m
44

From (m) DDH-LAT-12 Gold Bearing Zone Intersected over 1.05 m 85.90 86.95 1.05 3.49 To (m) Interval (m) Au (g/t)* Classic Fire Assay Au (g/t) Metallic Fire Assay
Figures 11.2 to 11.9 show drill sections for all the holes. Drilling has to date traced the dyke for about 1.3 km. The geology is essentially the same along this distance and there are significant gold intersections in five of the twelve widely spaced holes. Existing results indicate the need for follow up drilling in the 600 m zone between diamond drill hole LAT-6 and LAT-2. The intersections are structurally controlled in widely spaced drill holes. As the mineralized zones and the controlling structures are defined by the same drill holes it is difficult to provide a global estimate of true thickness. The geological sections suggest true thickness is about 75% of the down-hole length but this is a very preliminary estimate.
45
12 SAMPLING METHOD AND APPROACH

The soil, rock chip and drill core sampling programs were designed by Dr. Waldo Perez, P. Geo., the Companys Qualified Person responsible for the project. The various programs were carried out by experienced geologists and or exploration specialists under the supervision of Perez.
SOIL SAMPLES
Samples were collected on lines 200 m apart perpendicular to the known gold-bearing zones at the contact between the A and B soil horizons. The samples were collected at 25 m intervals along the lines and consisted of 2.5 kg of material collected at depths ranging from 50 cm to 100 cm. The samples were collected in pre-numbered micropore bags which allowed humidity to evaporate. The samples were sent to the preparation facility operated by Alex Stewart Assayers. Approximately 5,694 samples or 67 % of the 8,500 samples planned for the program have been collected. The analytical results have undergone statistical interpretation to determine background, threshold and anomalous values and the results are presented and discussed in Section 10 Exploration.
ROCK CHIP SAMPLES

The lack of outcrop on the Property made rock chip sampling difficult. Rock chip samples were collected from existing pits on the property. Details of this sampling on the Property are given in Section 10 Exploration, the sampling environment was usually hazardous and extreme care was taken to collect the minimum amount of sample necessary to avoid disturbing the pit walls. A total of 603 rock chip samples were collected in 2007 and the significant assay results are presented in Section 10.
DRILL CORE SAMPLES

At the drill site, the core was placed in core boxes and delivered to a secure, field, core processing centre. The core was split using a diamond saw operated by experienced exploration technicians and logged by professional geologists. The typical sample interval was 1 m but the intervals varied from 2 m to 0.5 m as determined by the geologist logging the core. When visible gold was observed the sample was assayed by metallic assay procedures. Half of the core remains in the core box as a permanent reference of the interval sampled. The other half formed the samples and was delivered 55
to the sample preparation facility, operated under the direct supervision of professionals from Alex Stewart Assayers. As of December 31, 2007, a total of 12 holes have been drilled and a total of 708 samples have been taken for analysis.
13 SAMPLE PREPARATION, ANALYSES AND SECURITY

The soil, rock chip and drill core samples were prepared on site under the supervision and QA/QC provided by professionals from Alex Stewart Assayers. This company is an ISO 9001-certified laboratory with laboratory facilities in Mendoza, Argentina and headquarters in England.
SOIL SAMPLES
The soil samples were delivered to Alex Stewart Assayers supervised, preparation facility on the Property in pre-numbered micropore bags. The samples are dried in stainless steel containers at 80 C and sieved at -140 mesh. When small pellets formed during drying they were crushed by hand using a stainless steel ball. After drying and sieving the sample was split to obtain a 200 g pulp which was shipped by truck to Asuncion and by a bonded international courier to Alex Stewart in Mendoza. All samples were analyzed for gold and multi-elements. Gold was analyzed by Fire Assay with AA finish using 50 g sample. Accuracy of results is tested through the systematic inclusion of blanks and certified reference standards. The multi-element assays were done using ICP.
ROCK CHIP SAMPLES

The rock chip samples were collected in pre-numbered bags. The samples were dried, crushed and part of the sample was tagged and archived as coarse reject and the remaining part was ground to <200 mesh and shipped by bonded courier to Alex Stewart Assayers in Mendoza, Argentina. All samples were assayed for gold using fire assay and multi-elements by ICP. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards. In 2007, approximately 603 rock chip samples were collected and assayed.
56
DRILL CORE SAMPLES

The core samples were crushed, dried and split under the on site supervision and QA/QC provided by professionals from Alex Stewart Assayers. When the split sample was crushed most was archived as coarse reject and 800 g was pulverized to <200 mesh and shipped by bonded courier to Alex Stewart Assayers in Mendoza. All samples were fire assayed for gold using a 50 g sample. For the multielements the samples were analyzed using ICP. METALLIC OR SCREEN FIRE ASSAYS Some core samples exhibit a pronounced "nugget" effect due to the presence of coarse grained, particulate gold. The result is a scatter in the gold analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility a metallic or screen assay was carried out on samples where gold was observed. For the metallic fire assay the sample is crushed, 400 g of pulp sieved and the >100 micron (150 mesh) portion of the sample is collected and assayed in its entirety. The <100 micron (150 mesh) portion of the sample is homogenized and a 50 g sample is assayed. The final assay reported is the weighted average of the coarse and fine fractions.
14 DATA VERIFICATION
The company includes one blank, one standard and one duplicate in every thirty samples to maintain quality control. Duplicates are prepared by cutting the remaining half core into a quarter for the assay interval and re-assaying the quartered core. Blanks are a local sandstone collected from a quarry. Standards are from CDN Resource Laboratories and represent high, medium and low gold values. Standards are purchased in 400 g bags and the entire bag is sent to Alex Stewart Assayers. Examples of the assay results for the Companys standards and duplicates are given in Figures 14.1 and 14.2.
57
FIGURE 14.1 ASSAYS OF A STANDARD SAMPLE
FIGURE 14.2 THOMPSON AND HOWATH PLOT OF DUPLICATE ASSAYS
58
On the initial visit (2007), Cargill collected three samples from the artisanal pits which were analyzed for gold using FA and multi-elements using ICP by SGS Laboratories in Toronto. The results are given in Table 14.1
TABLE 14.1 CARGILLS SAMPLES FROM PITS

Sample 1 2 3 Au (ppb) >10,000 751 15 Au (ppm) 284.00 0.075 0.002
On the second visit (2008) Cargill duplicated six core samples by quartering the core and collecting pulps of five of the quartered core samples. No pulp was available on site for the sixth sample. These verification samples were assayed using a 50 g sample by fire assay at ALS-Chemex in Mendoza, Argentina.
TABLE 14.2 CARGILLS RE-ASSAY OF DRILL CORE

Drill Hole From (m) 1 3 4 6 6 11 96.00 112.00 130.00 113.00 115.00 101.80 To (m) 98.00 113.00 131.00 114.00 116.00 102.30 Fine Alex Stewart Au (ppm) 0.56 12.83 1.66 30.77 24.59 3.31 ALS-Chemex Au (ppm) 0.136 0.005 0.165 11.32 5.35
Coarse 26.42 Average 6.72 6.32 Some of the variance in assays is because Cargills samples (ALS-Chemex) are core and LAMs samples (Alex Stewart) are core.
59
TABLE 14.3 CARGILLS RE-ASSAY OF PULPS

Drill Hole 1 3 4 6 6 11 From (m) 96.00 112.00 130.00 114.00 115.00 101.80 To (m) 98.00 113.00 131.00 114.00 116.00 102.30 Alex Stewart Au (g/t) 0.56 12.83 1.66 30.77 24.59 No Pulp ALS-Chemex Au (g/t) 0.567 13.95 0.152 33.10 26.00 No Pulp
The re-assays (ALS-Chemex) compare very well with the LAM assays (Alex Stewart)
15 ADJACENT PROPERTIES
Most of the adjacent ground has been taken as exploration permits. There are no reported mineral occurrences or exploration activity on these permits.
16 MINERAL PROCESSING AND METALLURGICAL TESTING

The Property is an early stage exploration property. No metallurgical testing has been undertaken.
17 MINERAL RESERVE ESTIMATES

The Property is an early stage exploration property. No mineral resource or reserve estimates have been made.
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18 RELEVANT DATA AND INFORMATION

The Property is an early stage exploration property. There is no additional relevant data and information.
19 INTERPRETATION AND CONCLUSIONS

1) Artisanal mining has demonstrated a large zone of gold mineralization in soils and weathered rocks, on the Property. 2) Geophysical, geochemical, and geological exploration has demonstrated gold mineralization on the Property is related to: a) A zone of mafic (basalt) dykes (the Dyke Zone). b) The Dyke Zone is bounded and cut by faults parallel to the strike and offset by faults at a high angle to the strike of the zone. c) The Paso Yobai Gold Zone (the Main Gold Zone) has been traced 6.5 km by soil geochemistry and airborne magnetics and is variably exposed on surface by artisan miners for 3.6 km. Very high gold values in soil geochemistry mark the Main Gold Zone, which corresponds to a linear zone of high magnetic values, bounded by zones of low magnetic values. d) The aeromagnetic and soil surveys show magnetic anomalies with corresponding gold anomalies parallel to the Main Gold Zone, which suggest parallel mineralized dykes. e) The distribution of the parallel magnetic anomalies, which are interpreted to be dykes, may be controlled by structures at a high angle to the Main Gold Zone. f) EM anomalies also parallel the Dyke Zone. These EM anomalies are interpreted as derived from deep sources, and are tentatively interpreted as derived from deep-seated bodies of sulphides. g) Rock samples from the artisanal mine workings indicate gold mineralization is related to quartz veins in altered mafic dyke and altered (silicified) sandstone near the contacts of the dyke. h) Gold in the artisanal workings appears controlled by post dyke structures. i) Gold occurs in veins associated with sulphides (pyrite) and as coarse grained, free gold in veins without sulphides. j) Bonanza grades occur when the sulphide-free veins with visible gold are superimposed on the veins containing pyrite. k) Paso Yobai has many similar characteristics to several large gold and copper deposits associated with alkaline rocks, such as Porgera, Cripple Creek, Ladolam, and Palabora. 3) The initial drill program of 12 holes totalling 1,989.2 m, has indicated: 61
a) The dyke ranges from 5 to 40 m thick and continues to at least 100 m depth. b) Gold occurs in an altered dyke and sandstones controlled by structural zones, breccias, veins, stock-works within the dyke, and within the altered sandstones near the contact of the dyke. c) Coarse grained free gold giving bonanza assays has been found to depths of about 100 m, which suggests that much of the free gold is primary. 4) Drilling on the aeromagnetic and soil geochemical anomalies has demonstrated that the gold mineralization is related to carbonate-quartz veins cutting the mafic dyke, and altered sandstones near the contact of the dyke. The gold mineralization including the bonanza grades continues to depths of 100 m. 5) Although there are only 12 widely spaced drill holes, higher grade, gold mineralization appears related to variations in the position of the dyke along strike that appear to be dilation zones. The current data indicates that the primary targets in the Main Gold Zone are plunging shoots of structurally controlled gold mineralization. 6) The initial work on the parallel aeromagnetic and soil geochemical gold anomalies suggests that they are similar to the Main Gold Zone and controlled by structures at a high angle to the Main Gold Zone. 7) The parallel zones present targets similar to those on the Main Gold Zone. However, multiple parallel zones close to the Main Gold Zone, or to each other, could constitute a target of a large volume of structurally controlled gold mineralization.
20 RECOMMENDATIONS
Cargill recommends a two-phase exploration program with the scope and extent of the second phase contingent on the results of the first phase. 1) The first phase of the exploration will consist of drilling the remaining drill targets (3,000 m) (Figure 20.1) and carrying out soil geochemistry, geology and trenching both to infill the existing grid and to extend the grid to the east and west to explore parallel dyke systems, summarized as follows.
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TABLE 20.1 PHASE ONE PROGRAM

Salaries and fees Soil Sampling Geochemistry and assaying Drilling to complete testing of the established drill targets. Reporting Subtotal Contingencies 10% Total 3,000 m 6,000 Samples $150,000 $50,000 $80,000
$550,000 $20,000 $850,000.00 $85,000 $935,000
2) The current information indicates a second phase of exploration is warranted. However, the exact scope of work will be based on the results of the Phase One Program. As currently envisioned, the Phase Two Program will consist of: a) Geochemistry, trenching and mapping to better define the parallel dykes and to extend the Main Gold Zone along strike. b) Drilling to test new targets developed on the parallel zones and along strike on the Main Gold Zone. Approximately 5,000 m of drilling will be required. c) Definition drilling on the two best zones within the Main Gold Zone. Cargill estimates that about 12 drill sections with about 5,000 m of drilling will be required to test each zone.
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TABLE 20.2 PHASE TWO PROGRAM

Salaries and fees Soil Sampling Geochemistry and assaying Drilling to complete testing of the established drill targets. Reporting Subtotal Contingencies 10% Total 4,000 Samples $450,000 $45,000 $150,000 15,000 m $2,700,000 $50,000 $3,395,000.00 $339,,500 $3,734,500
64
February 2008
21 REFERENCES
ANON, 2007, Report on a Helicopter-Borne Versatile Time Domain Electromgnetic (VTEM) Geophysical Survey; Unpublished report for LAMPSA by Geotech Ltd. CARRASQUERO, S.; CANFOGLIA, M. E.; SHALAMUK B.; 1999. A Hydrothermal Event Associated with the Alkaline Complex in Cerro Sarambi, Amancay, Paraguay. Mineral Deposits: Processing, Stanley et al.(eds). 1999 Balkema, Rotterdam. COMIN/CHIARAMONTI, P.; CUNDARI, A.; GOMES, C.B.; PICCIRILLO, E.M.; CENSI, P.; DE MIN, A; BELLIENI, G; VELAZQUEZ, V.F.; ORUE, D. 1992. Potassic Dyke Swarm in the Sapucai Graben, eastern Paraguay: Petrographical, Mineralogical and Geochemical Outlines. (283-301). COMIN-CHIARAMONTI, P, et al., 2004, Plumes Beneath the Parana Basin, Eastern Paraguay: Fact of Fiction?: in www.MantlePlumes.org. CONRADO, C.; PALMIERI,J. Paraguay 1986. Mapa Metalogenico del Paraguay. Comisin Nacional de Desarrollo Integrado del Chaco/ Naciones Unidas. CORBETT, G.J., 2007, Report on the Paso Yobai Property: Unpublished Report for Latin American Minerals Inc. CORBETT, G.J., 2005, Epithermal Au-Ag deposit types implications for exploration: Pro Explo Conference Peru May 2005, published on CD. CORBETT, G.J., and LEACH, T.M., 1998, Southwest Pacific gold-copper systems: Structure, alteration and mineralization: Special Publication 6, Society of Economic Geologists, 238 p. ECKEL, E. Igneous and Metamorphic Rocks. SULSONA, P. UNITED STATES 1959. Geology and Mineral Resources of Paraguay- A Reconnaissance. Geological Survey Professional Paper 327. FULFARO, J.; ALVARENA, D.; CONRADO, C. Paraguay 1986. Mapa Geolgico de la Republica del Paraguay. Proyecto par 83/00 GONZALEZ, M.; VILLALBA, N. San Lorenzo 2001. Mapa Geolgico de la Republica del Paraguay. HARRINGTON, H. Buenos Aires, 1950. Geologa del Paraguay Oriental. HEDENQUIST, J.; IZAWA, E.; ARRIBAS, A.; WHITE, C.; 1996. Epithermal Gold Deposits: Styles, Characteristics, and Exploration: The Society of Resource Geology: Resource Geology Special Publication number 1,70p. 66
LATIN AMERICAN MINERALS INC, 2008. Petrographic Examination of Six Drill Core Samples from the Paso Yobai Project. NUEZ, M.E.; Asuncin 1999, Mapa Geolgico de la Republica del Paraguay, Texto explicativo. SHINAGAWA, Y.; 1996-2002. Reciente Exploracin de Recursos Minerales en el Paraguay Oriental. THE ANSCHUTZ CORPORATION, Thomas & Associates 1976. Denver, Colorado. Preliminary ERTS Interpretation South-eastern Paraguay.
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22 SIGNATURE PAGE
This report titled Technical Report on Paso Yobai Project, Uraguay prepared for Latin American Minerals Inc. and dated February 15, 2008 was prepared by and signed by: (Signed and sealed) Dated at Toronto, Ontario February 15, 2008 D. George Cargill, Ph.D., P.Eng Consulting Geological Engineer
68
23 CERTIFICATE OF QUALIFICATIONS
D. GEORGE CARGILL I, D. George Cargill, as author of this report entitled Technical Report on Paso Yobai Project, Uraguay prepared for Latin American Minerals Inc. and dated February 15, 2008 do hereby certify that: 1. I am President with Cargill Consulting Geologists Limited of Suite 501, 55 University Ave Toronto, ON, M5J 2H7. 2. I am a graduate of University of Toronto Queens University University of B.C.. 1967 B.ASc. 1970 M.Sc. 1975 Ph.D.
3. I am registered as a Professional Engineer in the Provinces of Ontario (Reg.# 06870018) and British Columbia (Reg. #8109). I have worked as a geological engineer for more than 35 years since my graduation. My relevant experience for the purpose of the Technical Report is: Island Copper, Cu-Mo-Au Property B.C Expo Cu-Mo-Au Property B.C. Catface Property, Cu-Mo Property, B.C. Tulsequah Chief Au Property B.C. Oyu Tolgoy, Cu Property, Mongolia Ivanhoe Cu-Au Properties, Inner Mongolia RTB Bor Cu-Au Property Serbia Aurora Au Property, Guyana Peters Au Property, Guyana Zalantun Au Project, China Cu- Au Porphyry, Inner Mongolia Cu-Au Porphyry , Heilongjinag Technical Reports Technical and Exploration Reports Due Diligence Report Due Diligence Report NI 43-101 Report NI 43-101 Report Due Diligence Report NI 43-101 Report NI 43-101 Report NI 43-101 Report NI 43-101 Report Due Diligence Examination
4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI43-101. 5. I visited the Paso Yobai Project on October 2 to 4, 2007 and on January 5 to 9, 2008. 6. I am responsible for overall preparation/preparation of the Technical Report.
69
7. I am independent of the Issuer applying the test set out in Section 1.4 of National Instrument 43-101. 8. I have had no prior involvement with the property that is the subject of the Technical Report. 9. I have read National Instrument 43-101, and the Technical Report has been prepared in compliance with National Instrument 43-101 and Form 43-101F1. 10. To the best of my knowledge, information, and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading. Dated 15th day of February, 2008 (Signed) D. George Cargill, Ph.D., P.Eng.
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APPENDIX 1
COMPLETE DRILL HOLE GOLD ASSAYS
1-1
Hole Number DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DUPLICADO
From (m) 16 18 20
To (m)
Sample No. 18 20009 20 20010 22 20011
Sample Type
Date 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01
-0.01
-0.01 0.05 0.41 0.06
22 24 26 28 0 2 4 6 8 10 12 14 30 32 34 36 38 40 42 44 BLANCO 46 48 50 52 54
DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01
20012 24 20013 26 20014 28 20015 30 20016 2 20001 4 20002 6 20003 8 20004 10 20005 12 20006 14 20007 16 20008 32 20017 34 20018 36 20019 38 20020 40 20021 42 20022 44 20023 46 20024 20025 48 20026 50 20027 52 20028 54 20029 56 20030
2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
-0.01 -0.01 -0.01 -0.01 -0.01 0.03 0.01 -0.01 0.01 0.03 0.03 0.39 0.08 -0.01 -0.01 -0.01 -0.01 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01
-0.01
DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 56 58 60 62 64 66 68
20031 58 20032 60 20033 62 20034 64 20035 66 20036 68 20037 70 20038
STD-CDN-GS-2B 2007 2007 2007 2007 2007 2007 2007 2007 Page 1 of 2
2.08 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
-0.01
Hole Number DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DUPLICADO 0.68 0.1 0.6 0.03 0.63
From (m) 70 72 74 76 78 80 82 84 86 88 90 92
To (m)
Sample No. 72 20039 74 20040 76 20041 78 20042 80 20043 82 20044 84 20045 86 20046 88 20047 90 20048 92 20049 94 20050
Sample Type
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 0.16 0.17 0.07 0.05 -0.01 0.09 0.01 5.96 6.29
DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 94 96 98 100 102 104 106 108 110 112 114 116 118 BLANCO STD-CDN-GS1P5B
20051 96 20052 98 20053 100 20054 102 20055 104 20056 106 20057 108 20058 110 20059 112 20060 114 20061 116 20062 118 20063 120 20064 20065
2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
0.66 0.05 0.51 0.02 0.41 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 -0.01
-0.01
DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 120 122 124 126 128 130 132 134 136
20066 122 20067 124 20068 126 20069 128 20070 130 20071 132 20072 134 20073 136 20074 137.9 20075
2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 Page 2 of 2
1.57 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
-0.01
From (m) 0 2 4 6 8 10 12 14 16.7 18.3 19.45 20.4 21.3 23.3 25.1 27.15 29 31.1 33.1 35.1 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 Page 1 of 3
Hole Number DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02
To (m)
Sample No. Sample Type 2 20076 4 20077 6 20078 8 20079 10 20080 12 20081 14 20082 16.7 20083 18.3 20084 19.45 20085 20.4 20086 21.3 20087 23.3 20088 20089 DUPLICADO 25.1 20090 27.15 20091 20092 BLANCO 29 20093 31.1 20094 20095 STD-CDN-GS-2B 33.1 20096 35 20097 37 20098 39 20099 41 20100 43 20101 45 20102 47 20103 49 20104 51 20105 53 20106 55 20107 57 20108 59 20109 61 20110 63 20111 65 20112 67 20113 69 20114
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.02 0.01 -0.01 0.02 0.08 0.16 -0.01 -0.01 0.01 -0.01 -0.01 0.03 0.09 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.04 2.13 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
From (m) 69 71 73 75 77 79 81 83 85 87 89 91
Hole Number DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 1.58
To (m)
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 0.01 -0.01 -0.01
DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 93 95 97 99 101 103 105 105 106 107 108 109 109.5 111 112 113 114
Sample No. Sample Type 20115 DUPLICADO 71 20116 73 20117 75 20118 77 20119 79 20120 81 20121 20122 BLANCO 83 20123 85 20124 87 20125 89 20126 91 20127 93 20128 STD-CDN-GS20129 1P5B 95 20130 97 20131 99 20132 101 20133 103 20134 104 20135 105 20136 106 20137 107 20138 108 20139 109 20140 109.5 20141 111 20142 112 20143 113 20144 114 20145 115 20146 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 1.56 -0.01 -0.01 -0.01 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.04 0.04 -0.01 -0.01 -0.01 -0.01 -0.01 0.01
DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 115 116 117 119
20147 116 20148 117 20149 118 20150 120 20151
STD-CDN-GS-P5B 2007 2007 2007 2007 2007 Page 2 of 3
0.46 -0.01 -0.01 -0.01 -0.01
-0.01
From (m) 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 139 141 143 145 147 149 151 153 155 157 159 161 163.3 164.3
Hole Number DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02 DDH_LAT_02
To (m) Sample No. Sample Type 121 20152 122 20153 123 20154 124 20155 20156 BLANCO 125 20157 126 20158 127 20159 128 20160 129 20161 130 20162 131 20163 132 20164 20165 DUPLICADO 133 20166 134 20167 135 20168 136 20169 137 20170 139 20171 141 20172 143 20173 145 20174 147 20175 149 20176 151 20177 20178 BLANCO 153 20179 155 20180 157 20181 159 20182 161 20183 163.3 20184 164 20185 165.3 20186
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 0.04 -0.01 0.09 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.04 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Page 3 of 3
From (m) 0 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63
Hole Number DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03
To (m)
Au (ppm) Au (ppm) Duplicate 0.74 0.03 2.01 -0.01 0.01 0.01 -0.01 -0.01 -0.01 0.05 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.03 -0.01 0.01 -0.01 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 65 67
Sample No. Sample Type Date 3 20187 2007 5 20188 2007 20189 STD-CDN-GS-2B 2007 7 20190 2007 9 20191 2007 11 20192 2007 13 20193 2007 20194 DUPLICADO 2007 15 20195 2007 17 20196 2007 19 20197 2007 21 20198 2007 23 20199 2007 25 20200 2007 27 20201 2007 29 20202 2007 31 20203 2007 33 20204 2007 35 20205 2007 37 20206 2007 39 20207 2007 41 20208 2007 43 20209 2007 20210 BLANCO 2007 45 20211 2007 47 20212 2007 49 20213 2007 51 20214 2007 53 20215 2007 55 20216 2007 57 20217 2007 59 20218 2007 61 20219 2007 63 20220 2007 65 20221 2007 STD-CDN-GS20222 1P5B 2007 67 20223 2007 69 20224 2007 1.46 0.01 -0.01 Page 1 of 3
From (m) 69 71 73 75 77 79 81 83 85 87 89 91 93 95 96 96.8 97.3 98 99 100 101 102 103 104 105 106 107 108 109 110
Hole Number DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03
To (m)
Sample No. Sample Type 71 20225 73 20226 75 20227 77 20228 79 20229 81 20230 20231 DUPLICADO 83 20232 85 20233 87 20234 89 20235 91 20236 93 20237 95 20238 96 20239 96.8 20240 97.3 20241 98 20242 99 20243 100 20244 101 20245 102 20246 20247 BLANCO 103 20248 104 20249 105 20250 106 20251 107 20252 108 20253 109 20254 110 20255 111 20256
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.03 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.03 0.02 -0.01 -0.01 -0.01 0.02 0.53 0.11 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.02
DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 111 112 113 114 115
20257 112 20258 113 20259 114 20260 115 20261 116 20262
STD-CDN-GS-P5B 2007 2007 2007 2007 2007 2007 Page 2 of 3
0.41 -0.01 13.02 -0.01 -0.01 -0.01
12.63 0.01
Hole Number DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 DDH_LAT_03 117 118 119 120 121 122 123 125 127
From (m) 116
To (m) Sample No. Sample Type 117 20263 20264 DUPLICADO 118 20265 119 20266 120 20267 121 20268 122 20269 123 20270 125 20271 127 20272 128.3 20273
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 0.04 0.06 0.02 -0.01 -0.01 0.01 0.12 0.04 0.19 0.04
Page 3 of 3
From (m) 0 2 4 6 8 DUPLICADO 10 12 14 16 18 20 22 24 26 28 BLANCO 30 32 34 36 STD-CDN-GS-2B 38 40 42 44 46 48 50 52 54 56 DUPLICADO 58 60 62 64 66 68
Hole Number DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 Page 1 of 3
To (m)
Sample No. 2 20274 4 20275 6 20276 8 20277 10 20278 20279 12 20280 14 20281 16 20282 18 20283 20 20284 22 20285 24 20286 26 20287 28 20288 30 20289 20290 32 20291 34 20292 36 20293 38 20294 20295 40 20296 42 20297 44 20298 46 20299 48 20300 50 20301 52 20302 54 20303 56 20304 58 20305 20306 60 20307 62 20308 64 20309 66 20310 68 20311 70 20312
Sample Type
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.01 0.05 0.01 0.01 0.04 -0.01 0.02 -0.01 -0.01 -0.01 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 -0.01 0.03 -0.01 -0.01 0.01 -0.01 2.13 2.08 -0.01 0.03 -0.01 0.02 0.03 0.04 -0.01 0.02 0.02 0.02 0.01 0.02 0.02 0.04 0.03 -0.01 -0.01 0.03
Hole Number DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 72 74 76 78 80 82 84 86 88 1.53
From (m) 70
To (m)
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.01 -0.01 0.02 0.02 0.04 0.04 0.04 0.03 0.02 0.02 0.02 0.03
90 92 94 96 98 100 102 104 106 108 110 112 114
0.02 -0.01
DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 116 118 120 122 124 125 126 127 128
2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
1.35 0.03 0.03 0.07 -0.01 0.01 -0.01 0.02 -0.01 -0.01 -0.01 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.04 -0.01 0.02 0.01
-0.01
DDH_LAT_04 DDH_LAT_04 129
Sample No. Sample Type 72 20313 20314 BLANCO 74 20315 76 20316 78 20317 80 20318 82 20319 84 20320 86 20321 88 20322 90 20323 STD-CDN-GS20324 1P5B 92 20325 94 20326 96 20327 98 20328 100 20329 102 20330 104 20331 106 20332 108 20333 110 20334 112 20335 114 20336 116 20337 20338 BLANCO 118 20339 120 20340 122 20341 124 20342 125 20343 126 20344 127 20345 128 20346 129 20347 STD-CDN-GS20348 1P5B 130 20349 2007 2007 Page 2 of 3 1.66 -0.01
From (m) 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 150
Hole Number DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04 DDH_LAT_04
To (m) Sample No. Sample Type 131 20350 132 20351 133 20352 134 20353 135 20354 136 20355 137 20356 20357 DUPLICADO 138 20358 139 20359 140 20360 141 20361 142 20362 143 20363 144 20364 145 20365 146 20366 147 20367 148 20368 150 20369 152.7 20370 20371 DUPLICADO
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.15 0.07 0.07 0.07 0.04 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.02 -0.01 -0.01 0.01 0.01 0.04 0.03 0.01
Page 3 of 3
From (m) 202.95 205 206.4 BLANCO 207 208 209 210 211 212 213 214 STD-CDN-GS-2B 215 216 217 218 219 220 221 222 223 224 225 226 227 0 3 BLANCO 5 7 9 11 200 201
Sample Type
Au (ppm) Au (ppm) Duplicate 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 0.03 -0.01 -0.01 -0.01 0.01 -0.01 0.02 1.69 1.86 0.01 -0.01 -0.01 -0.01 0.02 0.02 0.04 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Hole Number DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 DDH_LAT_05 STD-CDN-GS-P5B
To (m) Sample No. 205 20372 206.4 20373 207 20374 20375 208 20376 209 20377 210 20378 211 20379 212 20380 213 20381 214 20382 214 20383 20384 216 20385 217 20386 218 20387 219 20388 220 20389 221 20390 222 20391 223 20392 224 20393 225 20394 226 20395 227 20396 227.85 20397 3 20451 5 20452 20453 7 20454 9 20455 11 20456 13 20457 20458 201 20459 202 20460
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Page 1 of 1
From (m) 87.75 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124
Hole Number DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 Page 1 of 2
To (m)
Sample No. Sample Type 89 20398 90 20399 20400 DUPLICADO 91 20401 92 20402 93 20403 94 20404 95 20405 96 20406 98 20407 98 20408 99 20409 100 20410 101 20411 102 20412 103 20413 104 20414 105 20415 106 20416 107 20417 108 20418 109 20419 110 20420 111 20421 112 20422 20423 BLANCO 113 20424 114 20425 115 20426 20427 STD-CDN-GS_2B 116 20428 117 20429 118 20430 119 20431 120 20432 121 20433 122 20434 123 20435 124 20436 125 20437
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.01 0.01 -0.01 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 1.27 0.03 0.02 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.24 -0.01 0.35 -0.01 -0.01 9.13 37.86 1.11 1.99 25.22 0.11 0.97 0.7 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.04
Hole Number DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06 DDH_LAT_06
From (m) 125 126 127 128 129 130 131 132 133 134 135 137.8 139.8
To (m) Sample No. 126 20438 127 20439 128 20440 129 20441 130 20442 131 20443 132 20444 133 20445 134 20446 135 20447 137.8 20448 139.8 20449 140.76 20450
Sample Type
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.28 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.35 0.02 -0.01 -0.01
Page 2 of 2
From (m) 212.83 213.6 214.1 215 215.57 216.52 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 42.15
Hole Number DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 1.7 -0.01
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01
DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 43.94 47 49 49.68 236 237 238 239 240 241
To (m) Sample No. Sample Type 213.6 20463 214.1 20464 215 20465 215.57 20466 216.52 20467 217 20468 218 20469 219 20470 220 20471 221 20472 222 20473 20474 DUPLICADO 223 20475 224 20476 225 20477 226 20478 227 20479 228 20480 229 20481 20482 BLANCO 230 20483 231 20484 232 20485 233 20486 234 20487 235 20488 236 20489 42.88 20490 STD - CDN-GS20491 1P5B 44.9 20492 47.8 20493 49.68 20494 50.6 20495 237 20496 238 20497 239 20498 240 20499 241 20500 242 20501 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 Page 1 of 2 1.67 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
From (m) 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260
Hole Number DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07
To (m) Sample No. Sample Type 243 20502 244 20503 245 20504 246 20505 247 20506 20507 BLANCO 248 20508 249 20509 250 20510 251 20511 252 20512 253 20513 254 20514 255 20515 256 20516 20517 DUPLICADO 257 20518 258 20519 259 20520 260 20521 261 20522
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 -0.01 -0.01 -0.01 -0.01
DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 DDH_LAT_07 261 262 263
20523 262 20524 263 20525 263.9 20526
STD-CDN-GS-1P5B 2007 2007 2007 2007
1.62 -0.01 0.02 -0.01
Page 2 of 2
From (m) 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72
To (m)
Sample No. Sample Type 2 20527 4 20528 6 20529 8 20530 10 20531 12 20532 14 20533 16 20534 18 20535 20 20536 20537 DUPLICADO 22 20538 24 20539 26 20540 28 20541 30 20542 32 20543 34 20544 36 20545 38 20546 20547 BLANCO 40 20548 42 20549 44 20550 46 20551 48 20552 50 20553 52 20554 20555 STD-CDN-GS-2B 54 20556 56 20557 58 20558 60 20559 62 20560 64 20561 66 20562 68 20563 70 20564 72 20565 74 20566
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.14 0.09 0.02 0.05 0.05 -0.01 -0.01 0.04 -0.01 0.02 -0.01 -0.01 -0.01 2.13 2.11 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
From (m) 74 76 78 80 82 84 86 88 90 92 94 96 98 100 102 104 106 108 110 112 114 116
Hole Number DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08
To (m)
Sample No. Sample Type 76 20567 78 20568 80 20569 82 20570 84 20571 20572 DUPLICADO 86 20573 88 20574 90 20575 92 20576 94 20577 96 20578 98 20579 20580 BLANCO 100 20581 102 20582 104 20583 106 20584 108 20585 110 20586 112 20587 114 20588 116 20589 118 20590
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.02 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 118 120 122 124 126 128 130 132 134 136 138 140 142 144
20591 120 20592 122 20593 124 20594 126 20595 128 20596 130 20597 132 20598 134 20599 136 20600 138 20601 140 20602 142 20603 144 20604 146 20605
STD-CDN-GS-1P5B 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 Page 2 of 5
1.61 -0.01 -0.01 -0.01 0.05 -0.01 -0.01 -0.01 -0.01 -0.01 0.02 0.03 0.02 -0.01 -0.01
-0.01
From (m) 146 148 150 152 154 156 BLANCO 158 160 162 164 166 168 170 172 174 STD-CDN-GS-2B 176 178 180 182 184 186 188 190 192 194 196 198 DUPLICADO 200 202 204 206 208 210 212 214 216
To (m)
Sample No. 20606 148 20607 150 20608 152 20609 154 20610 156 20611 158 20612 20613 160 20614 162 20615 164 20616 166 20617 168 20618 170 20619 172 20620 174 20621 176 20622 20623 178 20624 180 20625 182 20626 184 20627 186 20628 188 20629 190 20630 192 20631 194 20632 196 20633 198 20634 200 20635 20636 202 20637 204 20638 206 20639 208 20640 210 20641 212 20642 214 20643 216 20644 218 20645
Sample Type DUPLICADO
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 2.26 2.14 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Hole Number DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 222 224 226 228 230 232 234 236 238 1.63
From (m) 218 220
To (m) Sample No. Sample Type 220 20646 222 20647 20648 BLANCO 224 20649 226 20650 228 20651 230 20652 232 20653 234 20654 236 20655 238 20656 240 20657
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
240 242 244 246 248 250 252 254 256 258 260
-0.01
DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 262 264 266 268 270 272 274 276 278 280 282 284 286 Page 4 of 5
20658 242 20659 244 20660 246 20661 248 20662 250 20663 252 20664 254 20665 256 20666 258 20667 260 20668 262 20669 20670 264 20671 266 20672 268 20673 270 20674 272 20675 274 20676 276 20677 278 20678 280 20679 20680 282 20681 284 20682 286 20683 288 20684
STD-CDN-GS-1P5B 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 DUPLICADO 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 BLANCO 2007 2007 2007 2007 2007
1.64 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
-0.01
Hole Number DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 DDH_LAT_08 298 300 302 304 306 308
From (m) 288 290 292 294 296
To (m) Sample No. Sample Type 290 20685 292 20686 294 20687 296 20688 298 20689 20690 STD-CDN-GS-P5B 300 20691 302 20692 304 20693 306 20694 308 20695 310.2 20696
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.47 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Page 5 of 5
From (m) 96.58 98 99.78 101 102.3 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 122 123 124 125 126.47 127.48 128.37
Hole Number DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09 DDH_LAT_09
To (m)
Sample No. Sample Type 98 20697 99.78 20698 101 20699 102.3 20700 103 20701 104 20702 105 20703 106 20704 107 20705 108 20706 109 20707 20708 DUPLICADO 110 20709 111 20710 112 20711 113 20712 114 20713 115 20714 116 20715 20716 BLANCO 117 20717 118 20718 119 20719 120 20720 121 20721 122 20722 123 20723 123 20724 124 20725 125 20726 126.47 20727 127.48 20728 128.37 20729 129 20730
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.06 0.02 0.02 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.02 0.02 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 1.43 -0.01 -0.01 -0.01 -0.01 0.04 -0.01 -0.01
Page 1 of 1
From (m) 24 25 26 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 47.4 48.3
Hole Number DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10 DDH_LAT_10
To (m)
Sample No. Sample Type 25 20731 26 20732 28 20733 29 20734 30 20735 31 20736 32 20737 33 20738 34 20739 35 20740 36 20741 20742 DUPLICADO 37 20743 38 20744 39 20745 40 20746 41 20747 42 20748 43 20749 20750 BLANCO 44 20751 45 20752 46 20753 48.3 20754 49.17 20755
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.03 0.04 0.03 -0.01
Page 1 of 1
Hole Number DDH_LAT_11 2.17
From (m) 68.43
To (m) Sample No. 69.42 20756
Sample Type
Date 2007
Au (ppm) Au (ppm) Duplicate -0.01
69.42 70.33 71.6 73 74 75 76 77 78.4 79.3 80 81.2 81.9 82.43 82.9 83.54 84 85 86 86.7 87.15 87.65 88.2 88.7 89.2 89.7 90.2 91
2.3 -0.01 -0.01 0.09 0.02 0.05 0.04 0.03 0.02 0.02 0.04 0.03 0.06 0.05 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.05 -0.01 0.07 0.28 0.22 9.55 11.87 0.03 0.07 0.02
DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 91.84 92.3 92.8 93.8 95 96 4.57 3.08 -0.01 -0.01 0.01 -0.01 Page 1 of 2 -0.01
20757 70.33 20758 71.6 20759 73 20760 74 20761 75 20762 76 20763 77 20764 78.4 20765 79.3 20766 80 20767 81.2 20768 81.9 20769 82.43 20770 82.9 20771 83.54 20772 84 20773 85 20774 20775 86 20776 86.7 20777 87.15 20778 87.65 20779 20780 88.2 20781 88.7 20782 89.2 20783 89.7 20784 90.2 20785 91 20786 91.84 20787 20788 92.3 20789 92.8 20790 93.8 20791 95 20792 96 20793 97 20794
STD - CDN-GS-2B 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 DUPLICADO 2007 2007 2007 2007 2007 BLANCO 2007 2007 2007 2007 2007 2007 2007 2007 STD 2007 2007 2007 2007 2007 2007 2007
From (m) 97 98 99 100 100.5 101 101.3 101.8 102.3 103.5 104 104.5 105 105.5 106.75 107.7 108.7 110.2 110.54 111.35 112.27 112.94
Hole Number DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11 DDH_LAT_11
To (m)
Sample No. Sample Type 98 20795 99 20796 100 20797 100.5 20798 101 20799 101.3 20800 101.8 20801 102.3 20802 103.5 20803 104 20804 20805 DUPLICADO 104.5 20806 105 20807 105.5 20808 106.75 20809 107.7 20810 108.7 20811 110.2 20812 20813 BLANCO 110.54 20814 111.35 20815 112.27 20816 112.94 20817 114 20818
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Au (ppm) Au (ppm) Duplicate 0.01 -0.01 0.56 0.28 138.39 28.49 24.48 6.72 2.38 15.41 42.85 44.13 105.51 3.93 0.24 -0.01 -0.01 -0.01 -0.01 -0.01 0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Page 2 of 2
From (m) 54
To (m)
Au (ppm) Au (ppm) Duplicate 0.06 0.4 0.08 0.11 0.02 0.01 0.01 0.02
0.03
55 56 57 58 59 60 61 62 62.5 63.1 63.9 64.6 65.1 65.64 65.8 66.3 66.8 67.3 67.8 68.3 68.8 69.2 69.5 69.8 70.3 70.8 71.45 72.2 73.2 -0.01 74.2 75 76
Hole Number DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 77 78 79 79.95 -0.01 -0.01 0.05 0.74 0.01 0.01 -0.01 -0.01 -0.01 -0.01 0.04 0.02 0.02 0.07 0.1 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 Page 1 of 2 -0.01
Sample No. Sample Type Date 55 20819 2007 20820 STD-CDN-GS-P5B 2007 56 20821 2007 57 20822 2007 58 20823 2007 59 20824 2007 60 20825 2007 61 20826 2007 62 20827 2007 62.5 20828 2007 63.1 20829 2007 63.9 20830 2007 64.6 20831 2007 65.1 20832 2007 65.64 20833 2007 65.8 20834 2007 66.3 20835 2007 66.8 20836 2007 67.3 20837 2007 67.8 20838 2007 68.3 20839 2007 68.8 20840 2007 69.2 20841 2007 69.5 20842 2007 69.8 20843 2007 70.3 20844 2007 70.8 20845 2007 71.45 20846 2007 72.2 20847 2007 73.2 20848 2007 74.2 20849 2007 20850 DUPLICADO 2007 75 20851 2007 76 20852 2007 77 20853 2007 20854 BLANCO 2007 78 20855 2007 79 20856 2007 79.95 20857 2007 80.6 20858 2007
From (m) 80.6 -0.01 -0.01 -0.01 -0.01
Au (ppm) Au (ppm) Duplicate -0.01
81.6 82.4 83.4 84.76 85.9 86.95 87.4 87.9 88.3 88.93 89.4 89.9 90.3 90.85 91.35 91.85 92.35 -0.01
Hole Number DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 DDH_LAT_12 93.35 94.35 95.7 96 97 98 99 0.07 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.07 0.19 0.05 -0.01 -0.01 -0.01 -0.01 0.06 0.11 0.04 0.11 0.02 -0.01 0.03 0.06
To (m) Sample No. Sample Type 81.6 20859 20860 STD-CDN-GS-2B 82.4 20861 83.4 20862 84.76 20863 85.9 20864 86.95 20865 87.4 20866 87.9 20867 88.3 20868 88.93 20869 89.4 20870 89.9 20871 90.3 20872 90.85 20873 91.35 20874 91.85 20875 92.35 20876 93.35 20877 20878 DUPLICADO 94.35 20879 95.7 20880 96 20881 97 20882 98 20883 99 20884 20885 BLANCO 100 20886
Date 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Page 2 of 2
APPENDIX 2
EXAMPLES OF DRILL LOGS
2-1
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano
Proyecto: PASO YOBAI Area: Minas Guaira

Litologa Tipo de Roca Prof. (m) Estructura Muestra Descripcin
Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin
215 Azimuth: Inclinacin: -50 Prof. total: 137.9 mts Fnalizacin:..../..../....

Fotos de cajas
Alteracin Distribucin
Carbonato Silcea Esmectita
Caoln
Mn_ppm
Mineralizacin
Sulfuros Oxidos Ganga
Au visible Pirita Calcopirita S. Negros Ox Mn Silice Calcita MCa Ox Fe
PIMA
Pima-Kaolin Pima-Esmectita Pima-Nontrolita Pima-Montm
Au_ppm
Cu_ppm
As_ppm
P_ppm
0 20001 S: Suelo franco arcilloso de color marron claro AR: Arenisca friable blanca-rosada con alt de caoln y algo de xidos 0.01 6 19 236 34 59
V_ppm
0.03
17
210
59
63
2 20002
4 20003
-0.01
-5
110
28
15
6 20004
0.01
-5
12
83
28
10
8 20005 AR: Arenisca fina rosada con alto cont de OxMn y alteracion de caoln 20006 AR: Arenisca rosada con alteracion de arcillas y OxMn
0.03
-5
17
1819
103
76
10
11
0.03
-5
15
440
82
61
12
Litologa
S- Suelo BR- Vet- Brecha- Stock BS- Basalto AR- Arenisca LT- Lutita
Distribucin
Dis - Diseminados Vet - Vetilleos OQ - Oquedades
Estructura
F - Fallas Frac - Fracturas
Projecto: PASO YOBAI Area: Minas Guaira

POZO: DDH-LAT1
PIMA
Kaolin Esmectita Nontrolita Montmolleronita
Alteracin y Mineralizacin
1 - Bajo Grado 2 - Moderado Grado 3 - Alto Grado
Page: 1/12
Prof. (m)
0 1 2 3 4 5 6 7 8 9 10 11 12
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
12 20007 BS: Basalto con alteracion de caolin
V_ppm
13
0.39
-5
287
1551
115
311
14 20008 AR: Arenisca rosada con algo de alteracion de arcillas y OxMn-OxFe diseminados 20009 AR: Arenisca rosada con alteracion de caolin
15
0.08
-5
111
764
193
256
16
17
-0.01
-5
134
32
37
18 20010
19
-0.01
-5
11
170
40
31
20 20011
21
22 20012: DUPLICADO 23 20013 -0.01 8 6 103 32 30
24
Litologa
Distribucin
Estructura

POZO: DDH-LAT1
PIMA
Page: 2/12
Prof. (m)
12 13 14 15 16 17 18 19 20 21 22 23 24
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
24 20014
V_ppm
25
-0.01
-5
13
125
32
19
26 20015
27
-0.01
86
36
20
28 20016
29
-0.01
18
104
41
40
30 20017
31
-0.01
12
94
31
34
32 20018
33
-0.01
-5
54
22
18
34 20019
35
-0.01
13
12
119
34
38
Litologa
Distribucin
Estructura

POZO: DDH-LAT1
PIMA
Page: 3/12
Prof. (m)
24 25 26 27 28 29 30 31 32 33 34 35
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
36 20020
V_ppm
37
-0.01
12
80
31
41
38 20021
39
0.02
13
112
28
35
40 20022
41
-0.01
116
30
92
42 20023
43
-0.01
-5
10
78
30
56
44 20024
45
-0.01
-5
91
29
26
46 20025: BLANCO 47 20026 AR: Arenisca rosada con oquedades rellenas por caoln
-0.01
85
35
38
Litologa
Distribucin
Estructura

POZO: DDH-LAT1
PIMA
Page: 4/12
Prof. (m)
36 37 38 39 40 41 42 43 44 45 46 47
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
48 20027
V_ppm
49
-0.01
-5
12
89
32
31
50 20028
51
-0.01
-5
78
23
24
52 20029
53
-0.01
-5
11
84
30
26
54 20030
55
0.01
-5
62
26
18
56 20031: STD CDN-GS-2B 57 20032 -0.01 6 13 99 29 19
58 20033 AR: Arenisca rosada con alt de caolin y OxMn+OxFe en vetillas y
59
-0.01
268
27
22
Litologa
Distribucin
Estructura

POZO: DDH-LAT1
PIMA
Page: 5/12
Prof. (m)
48 49 50 51 52 53 54 55 56 57 58 59
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
60 20034
diseminados
V_ppm
61
-0.01
12
571
39
29
62 20035
63
-0.01
127
26
64
64 20036 BR: Arenisca brechada con clastos alterados a caolin con mx de harina de roca, OxFe y OxMn diseminados AR: Arenisca rosa con alt de caolin y OxMn+OXFe en vetillas 20038 AR: Arenisca lixiviada caolinizada con OxMn AR: Arenisca rosada con alteracion de caolin parcialmente silicificada y OxMn diseminados y en vetillas
65
-0.01
16
259
92
53
66 20037
67
-0.01
168
52
29
68
69
-0.01
384
44
32
70 20039
71
-0.01
453
76
53
Litologa
Distribucin
Estructura

POZO: DDH-LAT1
PIMA
Page: 6/12
Prof. (m)
60 61 62 63 64 65 66 67 68 69 70 71
POZO: DDH-LAT1
E: 599302 N: 7148307 Z Collar:263.41
Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
72 20040
V_ppm
73
-0.01
296
466
60
74 20041
75
-0.01
298
122
38
76 20042
77
-0.01
133
48
35
78 20043
79
-0.01
10
11
145
35
31
80 20044
81
0.16
133
42
65
82 20045
83 AR: Arenisca
0.07
17
173
38
95
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Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
84 20046
85
parcialmente silicificada y caolinizada con OxMn y OxFe en vetillas AR: Arenisca silicificada y caolinizada con OxMn y OxFe diseminadas y en vetillas BS: Basalto con alt de esmectita-caolin y presencia de OxMnOxFe y limonitas BS: Basalto con alt de esmectita y carbonatica con vetillas de OxMn y calcita BR: Basalto con stockwork de calcita y venilleo de silice, alt de esmectita y vetilleo de OxFe- Mn con calcita y Py diseminada BR: Basalto con stockwork de calcita y venilleo de silice con Au visible, alt de esmectita y vetilleo de OxMn-calcita + silice-
V_ppm
0.05
74
656
148
172
86 20047
87
-0.01
-5
206
966
837
319
88 20048
89
0.09
219
1457
958
407
90 20049
91
0.01
275
1213
1160
580
92 20050
93
5.96
63
294
850
1305
584
94 20051: DUPLICADO 95 20052
0.05
72
265
940
1078
386
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Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
96 20053
sulfuros negros y Py diseminados BR: Basalto con stockwork de calcita-OxMn y alt de esmectita 0.51 69 259 866 1178 443
V_ppm
97
98 20054
99
100 20055
BS: Basalto con stockwork de calcita-OxMn y alt de esmectita
0.02
13
253
1270
976
435
101
0.41
25
243
1187
1044
486
102 20056
BS: Basalto con caolinesmectita y algo de OxFe-OxMn BR: Basalto con stockwork de calcita-OxMn y alt de esmectita-carbonato BS: Basalto con stockwork de OxMn y algo de Py, alteracion de esmectita -0.01 40 215 1512 1035 432
103
104 20057
105
-0.01
236
827
968
369
106 20058
107
-0.01
243
687
1018
368
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Gelogo:
Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
108 20059
V_ppm
109
110 20060
BS: Basalto con vetilleo de OxMn+ calcita AR: Arenisca rosada con stockwork de OxFe+calcita AR: Arenisca blanquecina con algo de arcillas 20061
-0.01
13
205
965
895
322
111
-0.01
13
354
381
74
112
113
-0.01
-5
12
238
383
62
114 20062
115
-0.01
-5
139
431
65
116 20063
117
-0.01
-5
13
265
405
62
118 20064
119
0.01
-5
11
261
323
45
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Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
120 20065: BLANCO 121 20066: STD CDN-GS-1P5B 20067 122 20068 -0.01 6 65 560 572 177
V_ppm
123
-0.01
-5
193
425
56
124 20069
125
-0.01
-5
14
262
357
36
126 20070
127
-0.01
-5
334
462
59
128 20071
129
-0.01
-5
203
380
41
130 20072
131
-0.01
-5
299
400
54
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Ana Pantano

Tipo de Roca
UTM 21S Inicio: ..../..../....

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
132 20073
V_ppm
133
-0.01
-5
159
299
30
134 20074
135
-0.01
-5
17
719
334
30
136 20075
137
-0.01
-5
353
215
29
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13 13 13 13 13 13
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Gelogo:
Miguel Molinas

Tipo de Roca
UTM 21S Inicio: 11/11/07

Observacin
230 Azimuth: Inclinacin: 65 Prof. total: 165,30 Fnalizacin:13/11/07

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
0 20076 AR: Areniscas de color marron 0.02 6 13 96 44 56
V_ppm
2 20077
0.01
18
182
38
63
4 20078
-0.01
-5
12
139
30
19
6 20079
0.02
-5
18
331
33
40
8 20080 LT: Lutita micacea 0.08 -5 12 473 98 89
10 20081 AR: Arenisca de color marron claro LT: Lutita micacea de color morado 0.16 -5 16 1137 64 100
11
12
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Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
12 20082 BS: Basalto de color gris 13 -0.01 -5 277 1315 122 498
V_ppm
14 20083
15 -0.01 16 AR: Areniscas de color marron 17 20084 -0.01 18 20085 19 BS: Basalto de color gris 13 35 538 65 88 11 199 1116 351 424
-0.01
164
605
1026
517
20086 20 20087 21 20088 22 AR: areniscas de color marron 22 -0.01 5 7 151 29 27 23 20089: Duplicado 24 24 AR: Arenisca de color marron 0.09 53 137 1928 317 579 21 0.03 7 232 999 916 585 20
23
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Gelogo:
Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
24 20090 -0.01 13 18 154 30 41
V_ppm
25 20091 26
-0.01
10
10
111
35
35
27 20092: Blanco 28 20093 -0.01 12 6 126 25 46
29 20094 LT: Lutitas de color gris 0.04 AR: Areniscas de color marron 20095: STD CDN-GS-2B 32 20096 -0.01 18 11 144 31 68 12 14 178 124 172
30
31
33 20097 34
-0.01
11
177
30
62
35 20098
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24 25 26 27 28 29 30 31 32 33 34 35
POZO: DDH_LAT_02
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Gelogo:
Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
36
V_ppm
-0.01
169
25
60
37 20099
38
-0.01
-5
10
80
20
24
39 20100
40
-0.01
-5
36
18
12
41 20101
42
-0.01
-5
108
28
24
43 20102
44
-0.01
-5
102
22
20
45 20103
46
-0.01
-5
283
25
18
47 20104
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36 37 38 39 40 41 42 43 44 45 46 47
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Gelogo:
Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
48
V_ppm
-0.01
-5
163
24
14
49 20105
50
-0.01
251
25
16
51 20106
52
-0.01
-5
314
26
17
53 20107
54
-0.01
-5
463
27
24
55 20108
56
-0.01
-5
10
264
45
74
57 20109
58
-0.01
-5
346
35
53
59 20110
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Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
60
V_ppm
-0.01
352
51
55
61 20111
62
-0.01
235
43
59
63 21112
64
-0.01
-5
207
284
56
65 20113
66
-0.01
-5
226
414
63
67 20114
68
-0.01
-5
175
327
66
69 20115: Duplicado 70 20116 -0.01 -5 8 248 82 63
71 20117
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Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
72
V_ppm
-0.01
-5
211
35
62
73 20118
74
-0.01
-5
179
262
36
75 20119
76
-0.01
17
780
334
40
77 20120
78
-0.01
-5
184
359
64
79 20121
80
-0.01
-5
95
313
43
81 20122: Blanco 82 20123 -0.01 -5 5 87 348 43
83 20124
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Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
84
V_ppm
-0.01
-5
133
351
45
85 20125
86
-0.01
-5
181
377
74
87 20126 AR: Areniscas de color marron AR: Areniscas de color marron 20127
88
0.01
-5
243
472
99
89
90
-0.01
-5
155
548
80
91 20128
92
-0.01
-5
171
574
75
93 20129: STD CDN-GS-1P5B 94 20130 -0.01 -5 10 568 328 66
95 20131
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Miguel Molinas

Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
96
V_ppm
-0.01
-5
190
439
68
97 20132
98
-0.01
-5
142
458
64
99 20133
AR: Arenisca de color rosa claro
100
-0.01
-5
314
455
52
101 20134
102
0.01
-5
610
440
75
103 20135 -0.01 104 -5 5 167 643 68
105 20136 20137 106 20138
-0.01 -0.01
-5 -5
4 5
180 99
484 345
48 35
-0.01 107 20139 -0.01
-5
149
524
51 10
-5
287
534
56
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Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
108 20140 0.04 109 20141 AR: Arenisca 20142 110 BS: Basalto de color gris 0.04 19 126 1166 1279 498 6 13 589 360 60
V_ppm
-0.01
-5
244
1143
1058
374
111 20143 -0.01 112 20144 -0.01 113 20145 BS: Basalto de color gris 114 20146 -0.01 115 20147: STD CDN-GS-P5B 116 20148 20149 117 20150 -0.01 118 -5 242 984 1083 353 -0.01 -5 243 1084 1076 374 -0.01 -5 235 982 1058 372 -5 237 917 1079 372 -0.01 -5 235 1227 1020 405 BR: Stockwork 7 253 1413 1122 421 -5 235 841 1052 363
119 20151 -0.01 -5 247 868 1116 376
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Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
120 20152 -0.01 121 20153 BR: Stockwork -0.01 -5 244 1472 1109 404 -5 235 1205 1048 403
V_ppm
122 20154 BS: Basalto de color gris 123 20155 -0.01 124 20156: Blanco 125 20157 20158 126 20159 0.09 127 20160 -0.01 128 20161 -0.01 129 20162 -0.01 130 20163 -0.01 131 20164 -0 01 -5 245 792 1114 362 -5 250 786 1104 380 -5 245 761 1134 374 -5 248 846 1115 358 -5 256 1000 1128 386 -5 234 843 1079 390 -0.01 -5 226 939 1014 385 0.04 43 247 1858 1033 471 18 225 1232 1114 543 -0.01 -5 237 1754 1059 414
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Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
0.01 132 20165: Duplicado 133 20166 20167 134 20168 -0.01 135 20169 -0.01 136 20170 AR: Arenisca de color rosa 0.04 BS: Basalto -0.01
245
792
1114
V_ppm
362 13
-5
241
1242
1083
387 13
-5
209
1512
1157
462 13
-5
236
1068
1092
420 13
-5
246
934
1070
405 13
-0.01
-5
175
910
965
416 13
137 20171
138
-0.01
-5
263
487
71
139 20172
140
-0.01
-5
217
519
64
141 20173
142
-0.01
-5
278
444
73
143 20174
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Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
144
V_ppm
0.02
311
349
45
145 20175
146
-0.01
-5
145
212
37
147 20176
148 LT: Lutitas 149 20177 AR: Areniscas de color rosa
-0.01
-5
376
350
45
150
-0.01
-5
33
454
498
157
151 20178: Blanco 152 20179 -0.01 -5 7 213 256 54
153 20180
154
-0.01
-5
191
352
49
155 20181
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Tipo de Roca

Observacin

Fotos de cajas
Caoln
Mn_ppm
Mineralizacin
PIMA
Au_ppm
Cu_ppm
As_ppm
P_ppm
156
V_ppm
-0.01
212
320
44
157 20182
158
-0.01
-5
194
298
46
159 20183
160
-0.01
-5
96
293
32
161 20184
162
-0.01
-5
137
270
28
163 20185 164 20186 165 -0.01 -5 4 203 426 39 -0.01 -5 3 137 281 43
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NI 43-101 TECHNICAL REPORT ON PASO YOBAI PROJECT, DEPARTMENT GUAIRA, PARAGUAY PREPARED FOR LATIN AMERICAN MINERALS INC.

FEBRUARY 15, 2008 D. GEORGE CARGILL, PH.D., P.ENG.

PHASE ONE PROGRAM

$550,000 $20,000 $850,000.00 $85,000 $935,000

PHASE TWO PROGRAM

$2,700,000 $50,000 $3,395,000.00 $339,,500 $3,734,500

2 INTRODUCTION AND TERMS OF REFERENCE

kPa kVA kW kWh L L/s M M m m

g/L g/t Gpm gr/ft Hr Ha Hp In in J K Kcal Kg Km km/h km2

RL S St Stpa Stpd T Tpa Tpd US$ USg USgpm V W Wmt yd Yr

3 RELIANCE ON OTHER EXPERTS

4 PROPERTY DESCRIPTION AND LOCATION

MINERA GUAIRA EXPLOITATION CONCESSION (MINING LEASE)

MINAS PARAGUAY EXPLOITATION CONCESSION (MINING LEASE)

MINING LAW AND TAXATION

5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

TABLE 7.1 STRATIGRAPHY EASTERN PARAGUAY

Age QuaternaryTertiary Tertiary

Rock Type Unconsolidated sediments

Late Early Cretaceous Early Cretaceous

San Juan Bautista Gp Intrusions

Paran Basin Intrusions

JurassicCretaceous Permian PermianCarboniferous OrdovicianSilurian CambroOrdovician Archaean to Proterozoic

QUARTZ-SULPHIDE AU-STYLE MINERALIZATION

EPITHERMAL QUARTZ-CARBONATE AU-MN-STYLE LOW SULPHIDATION MINERALIZATION

TABLE 10.1 EXPLORATION EXPENDITURES 2007

HELICOPTER EM AND MAGNETIC SURVEY

VERSATILE TIME DOMAIN ELECTRO MAGNETIC (VTEM) SURVEY

MINERALIZATION IN THE PITS

TABLE 10.2 SIGNIFICANT ROCK CHIP SAMPLES

TABLE 10.2 SIGNIFICANT ROCK CHIP SAMPLES

SOIL GEOCHEMICAL SURVEY

TABLE 10.3 DESCRIPTIVE STATISTICS OF THE SOIL SAMPLE DATABASE

TABLE 11.1 DIAMOND DRILL HOLE COORDINATES

TABLE 11.2 SIGNIFICANT DIAMOND DRILL ASSAYS

TABLE 11.2 SIGNIFICANT DIAMOND DRILL ASSAYS

Gold Bearing Zone Intersected over 6.50 m from 99.00 m to 105.50 m

TABLE 11.2 SIGNIFICANT DIAMOND DRILL ASSAYS

12 SAMPLING METHOD AND APPROACH

ROCK CHIP SAMPLES

DRILL CORE SAMPLES

13 SAMPLE PREPARATION, ANALYSES AND SECURITY

ROCK CHIP SAMPLES

DRILL CORE SAMPLES

FIGURE 14.1 ASSAYS OF A STANDARD SAMPLE

FIGURE 14.2 THOMPSON AND HOWATH PLOT OF DUPLICATE ASSAYS

TABLE 14.1 CARGILLS SAMPLES FROM PITS

TABLE 14.2 CARGILLS RE-ASSAY OF DRILL CORE

TABLE 14.3 CARGILLS RE-ASSAY OF PULPS

16 MINERAL PROCESSING AND METALLURGICAL TESTING

17 MINERAL RESERVE ESTIMATES

18 RELEVANT DATA AND INFORMATION

19 INTERPRETATION AND CONCLUSIONS

TABLE 20.1 PHASE ONE PROGRAM

$550,000 $20,000 $850,000.00 $85,000 $935,000

TABLE 20.2 PHASE TWO PROGRAM

Hole Number DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DUPLICADO

Sample No. 18 20009 20 20010 22 20011

Date 2007 2007 2007

Au (ppm) Au (ppm) Duplicate -0.01 -0.01 -0.01

-0.01 0.05 0.41 0.06

DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 DDH_LAT_01 56 58 60 62 64 66 68

20031 58 20032 60 20033 62 20034 64 20035 66 20036 68 20037 70 20038

2.08 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01