Cinco Minas and Gran Cabrera Properties The Company signed an Option Agreement with Minera San Jorge, S.A. de C.V (MSJ) to acquire a 60% interest in the Cinco Minas and Gran Cabrera Mexican mining properties (the “Properties”) by making option payments of $300,000, issuing 2,800,000 common shares of the Company to MSJ and providing financing of $5,600,000 for Cinco Minas which has been fulfilled, and a commitment of $2,000,000 for Gran Cabrera to MSJ over a five year period for the exploration and development of the Properties.
MANAGEMENT DISCUSSION AND ANALYSIS SIX MONTHS ENDED MAY 31, 2011