Great BOW, now we have some speculative ounces to look at and I am starting to find more. I am starting to get the picture of why Beunaventura has interest. So speculatively, lets say there is 1 million ounces at Zona Verde. Now maybe we can look at the Cruz vein system?

The Cruz vein system has a strike of 3 km and a width of approx 100m and lets give it a depth of 100m. There have been samples taken across a 100m width of it that averaged .5 g/t gold, also there was one sampling program done on a strike portion of 300m long and did not have a sample under 1.05 g/t for this area. So, I would give the 3000m x 100m x 100m a .5 g/t gold grade ands see how many ounces that gives you for that zone.

There are 2 more zones mentioned in the report I am looking at, but keep in mind, this report is old where I am getting the info from, ~1997. There has been other work done over the years, but I haven,t assessed or included that yet. I am trying to go from a mininum speculative ounces upward by starting at the earliest info. The other 2 zones are Zona Eugenio and Bi-Hg Zone, of which the latter is most likely gonna be drilled. I havent come across any gold grades for these 2 areas yet, but know there has to be something out there on them or why else would Lori focus attention on the Bi-Hg Zone like she mentioned in the last NR?

The dimensions of the Zona Eugenio is approx 1200 x 800m.

The dimensions of the Bi-Hg Zone is approx 4000 x 800m.

Some notes;

It was stated in 1997 that the CB had bulk minable potential with a POG then of ~ $500 per ounce. We are 3 times the POG today, so if Inca Pacific thought it had potential then for open pit, it sure does now.

The wallrock in the Cruz Vein was found to be weakly anomolous in 1997 extending 10,s of meters out from the main veins, so that statement says to me , the wall rock is mineralized enough to realize the bulk tonnage possibilty.

Everything in this early report is downplaying chances for copper and no emphasis is being put on that possibilty. However, there are hints that it is possibly there and that they didn,t actually look for it in the NE quadrant. There is abundant pyrites and low base metals sample numbers taken from that area, but again, they were looking for gold, not copper. There is talk of diatremes all over the property, and if most of those are intact, its possible a copper porphry could be within a few of these pipes. IMO, there is too much copper on Candentes adjoining property, for there to be little on ours, where there doesn,t seem to be a separating event between the two properties. As usual, plate tectonics play an important part of mineral deposition in the area and you shouldn,t have that sharp of contrast on the copper grades if they are from relatively the same source. I believe the trick here to find it, is to go deeper. Early geophysics is picking up chargeable anomalies at depth, but I dont believe they have been drill tested.

IMO, the CB may possibly be a world class gold project also, meaning over 3 million ounces. If this becomes the case with more proof from drilling, its not hard to see why Beunaventura is interested, especially if there is enough for open pit. The prospects for the CB are looking better all the time, and when you factor in the possible heat up of M&A activity, this property could go rather quick. Majors are buying speculation ounces these days, so you really don,t need a defined resource to get taken out. It is more beneficial for a major to make a premature move on a junior under a speculative stance, rather than give them the time to prove up a resource and end up paying a lot more down the road. Make the deal under speculation, the Majors are smart enough today to assess a property without the required proof of the past, things are changing and this becomes very clear when we look at how accurate geophysics is becoming.

After going over early data, if its possible to show a possibility of 2 million ounces gold on the property and some economical copper right beside Candente, you are probably looking at the CB being worth $200 million. That kind of a deal would work out to $80 million going into SLI being worth approx .60 per share. It seems ludicrous that we are presently trading at .50, when the CB is probably considered the worst property out of the 3 Peruvian properties.

IMO

IMO