| Property Locations |
| Location Name: | *Bowdens Silver Project | Area Name: | *East of Mudgee in NSW, Aust. |
| Effective Date: | 26/May/1998 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | New South Wales Australia Australia | Fax: | (not available) |
| Description: | |
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| Location Name: | *Candelaria Silver Mine | Area Name: | *Mineral and Esmeralda counties |
| Effective Date: | 2/Nov/1999 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | Nevada USA North America
| Fax: | (not available) |
| Description: | Option extended to August 1/200 for $50,00 consideration and 27,500 shares to Kinross. |
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| Location Name: | *Diablillos Silver-Gold Project | Area Name: | * |
| Effective Date: | 1/Nov/2001 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | Salta Argentina South America
| Fax: | (not available) |
| Description: | |
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| Location Name: | *El Asiento Project | Area Name: | * |
| Effective Date: | 29/Mar/1996 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | Bolivia South America | Fax: | (not available) |
| Description: | Option to acquire 100% interest. |
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| Location Name: | *La Morelense Project | Area Name: | * |
| Effective Date: | 17/Apr/1998 | Location Ownership Percent: | 100 |
| Expiry Date: | 1/Feb/1999 | Phone: | (not available) |
| Address: | Chihuahua Mexico North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Lunnoe Project | Area Name: | * |
| Effective Date: | 16/May/1996 | Location Ownership Percent: | 100 |
| Expiry Date: | 26/Jun/1998 | Phone: | (not available) |
| Address: | MagadanRussia Europe | Fax: | (not available) |
| Description: | |
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| Location Name: | *Manantial Espejo Project | Area Name: | Southern Argentina |
| Effective Date: | 9/Sep/1998 | Location Ownership Percent: | 50 |
| Expiry Date: | | Phone: | (not available) |
| Address: | Santa Cruz Argentina South America | Fax: | (not available) |
| Description: | Purchase agreement with Barrick Exploraciones Argentina S.A. |
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| Location Name: | *Mudgee Project | Area Name: | * |
| Effective Date: | 12/Jun/1997 | Location Ownership Percent: | 100 |
| Expiry Date: | 1/May/1999 | Phone: | (not available) |
| Address: | New South Wales Australia Australia | Fax: | (not available) |
| Description: | |
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| Location Name: | *Operating Location (BC) | Area Name: | * |
| Effective Date: | 11/Dec/1946 | Location Ownership Percent: | 100 |
| Expiry Date: | 12/Jun/1997 | Phone: | (not available) |
| Address: | British Columbia Canada North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Operating Location (Mex.) | Area Name: | * |
| Effective Date: | 10/Apr/1997 | Location Ownership Percent: | 100 |
| Expiry Date: | 1/Feb/1999 | Phone: | (not available) |
| Address: | Saltillo,Coahuila de Zaragoza Mexico North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Operating Location (Mex.) | Area Name: | * |
| Effective Date: | 8/Feb/1966 | Location Ownership Percent: | 100 |
| Expiry Date: | 14/Jan/1998 | Phone: | (not available) |
| Address: | Sonora Mexico North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Operating Location (NV) | Area Name: | * |
| Effective Date: | 11/Dec/1946 | Location Ownership Percent: | 100 |
| Expiry Date: | 12/Jun/1997 | Phone: | (not available) |
| Address: | Nevada USA North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Operating Location (ON) | Area Name: | * |
| Effective Date: | 11/Dec/1946 | Location Ownership Percent: | 100 |
| Expiry Date: | 12/Jun/1997 | Phone: | (not available) |
| Address: | Ontario Canada North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Pirquitas Silver Project | Area Name: | * |
| Effective Date: | 21/Jun/2002 | Location Ownership Percent: | 43 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | Jujuy Argentina South America
| Fax: | (not available) |
| Description: | See TSX Venture Exchange bulletin dated June 26, 2002. |
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| Location Name: | *San Marcial Property | Area Name: | |
| Effective Date: | 23/Jan/2002 | Location Ownership Percent: | 50 |
| Expiry Date: | | Phone: | (not available) |
| Address: | Sinaloa Mexico North America | Fax: | (not available) |
| Description: | |
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| Location Name: | *Shafter Silver Project | Area Name: | *Presidio County |
| Effective Date: | 19/Sep/2000 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | Texas USA North America
| Fax: | (not available) |
| Description: | Consideration US$599,305 |
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| Location Name: | *Silver Reef Project | Area Name: | * |
| Effective Date: | 29/Apr/1998 | Location Ownership Percent: | 100 |
| Expiry Date: | 1/Jul/2000 | Phone: | (not available) |
| Address: | Utah USA North America
| Fax: | (not available) |
| Description: | |
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| Location Name: | *Silvertip Property | Area Name: | * |
| Effective Date: | 27/Nov/2002 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | British Columbia Canada North America
| Fax: | (not available) |
| Description: | |
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| Location Name: | *Sulphurets Project | Area Name: | * |
| Effective Date: | 2/Nov/1999 | Location Ownership Percent: | 100 |
| Expiry Date: | 3/Nov/2004 | Phone: | (not available) |
| Address: | British Columbia Canada North America
| Fax: | (not available) |
| Description: | Purchase Agreement dated May 2, 2001 with Black Hawk Mining Inc. |