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RPA 55 University Ave. Suite 501 I Toronto, ON, Canada M5J 2H7 I + 1 (416) 947 0907T INV METALS INC. TECHNICAL REPORT ON THE LOMA LARGA PROJECT, AZUAY PROVINCE, ECUADOR NI 43-101 Report Qualified Persons: Jason J. Cox, P.Eng. Kathleen Ann Altman, Ph.D., P.E.

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The La India project consists of 45 mining concessions covering in aggregate 57,614 hectares. Concessions controlled by Agnico-Eagle are summarized in Table 4.1, and the concessions are shown in Figure 4.2. All of these claims are in good legal standing. La India Project Technical Report, 31 August, 2012 15 Table 4.1 La India project mining ...

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The mine plan indicates that the highest incremental returns from the Project do not commence until 2017, when mining of higher grade material from the open pit begins, and as a consequence there is a built-in window of time to further de-risk the Project without sacing the economic returns, while monitoring the prices of silver and gold.

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Within each of the four areas there are approximately 20 to 40 veins in the vein swarm. Resources were estimated by kriging using data from all veins in the swarm. In general, gold accounts for at least 80% of the value of contained metal at the project, so the variograms for gold were used in estimation of the four other metals.