In 1994 ENAMI (La Empresa Nacional de Mineria) calculated reserves (which are not compliant with the National Instrument 43-101 - "NI-43-101") of 1,032,500 tonnes grading 2.0% Cu and 3.5 g/t Au within these veins. ENAMI also reported an additional non 43-101 compliant Resource Estimate of 1.5 million tonnes grading 0.6% Cu at the Milagros SW zone at the southern end of the property with the potential for rich lenses (>2% Cu) within the zone.

Comments from NI43-101, "Production grades from the six active mines on the Venus-Marcelo concessions in March, 2007 ranging from 1.24% Cu to 3.82% Cu are considered representative of the potential copper (oxide) grades which have historically prevailed on the property; higher grade, direct shipping ore, is more likely to average considerably higher. The copper grade of the mine dumps sampled ranged from 1.63% to 29.1% Cu. Gold grades received ranged from background levels to 41.3g/t Au with 25% of the samples having gold values greater than 1.0g/t Au."

Note: Explorator has not done sufficient work to classify these historical estimates as current mineral resources and as such, Explorator is not treating the historical estimates as current mineral resources and cautions investors not to rely upon these.