P eru is both the birthplace of Gold Explorations and the central component of our ongoing expansion plans within the region. We are actively engaged in detailed survey and exploration work in this country as we begin to grow our interest in developing new gold deposits, to help meet demand for this precious metal. Peru, as South America's largest gold producing nation offers a great deal of existing infrastructure, which allows for more rapid testing and further development of worthwhile sites. Chief among the concessions we are working on in Peru is the Tumipampa site, which is located roughly an hour's drive south of the provincial capital city of Abancay in the Apurimac district, approximately 500km to the South East of Peru's capital, Lima. This highly promising site has an altitude that ranges between 4,100 and 4,750 meters while encompassing an area of 46.5kmĀ². This site lies strategically adjacent to a very large and under-development copper gold resource owned by Southern Copper, comprising roughly 350 million tones of reserves at an ore grade of 0.64 per cent copper. This area has been for the last twelve months a hive of activity as both international and regional mining companies vie to tie up concessions in what is slated to become Peru's most productive gold and copper mining area. As of October 2014, all of the available land grants surrounding Tumipampa have been claimed by us and other mining companies including Golden Ideal, Southern Copper, Bear Creek Mining, as well as the Chinese mining concerns Buenaventura Gold Mining and Super Strong Mining.

The Tumipampa site lies across the Andahualas-Yauri belt, containing primarily porphyry-copper in addition to other base metals and rich skarn type deposits. These additional deposits are all to be found within the Abancay deflection zone, itself a well recognized mining region located in the Andes Mountain Range. This geological deflection zone's orientation varies from North-West South-East to East-West, forming a portal through which the massive Andahuaylas-Yauri formation intrudes, with its accompanying copper porphyries and skarn type deposits. In addition to these benefits, the Tumipampa site also features a gold-silver laden corridor comprised of epithermal veins hosting many important hydrothermal deposits.

Gold Explorations is also in the process of carrying out secondary survey work at our site located in the district of San Pedro, lying 72km to the west of Nazca, inside the Western Andean Cordillera in Lucanas Province, in Peru's Department of Ayacucho. The site being worked covers an area of 700ha and is a highly promising exploration prospect for both copper and silver resources. We are confident that this site is a promising one that is a host to a silver deposit of economically viable nature for recovery and is deserving of additional exploration and development over the coming year.

Another Peruvian site of great interest to us at Gold Explorations, is our Casaden field in the district of Magdalena, 900km North East of the capital city Lima, lying within the Chicama-Yanacocha corridor, just south of the world renowned Yanacocha gold mine, the largest such mine in South America. Our site is comprised of two concessions covering an area of 1,100ha. Similar to neighboring concessions, the Casaden site hosts extensive disseminated epithermal gold deposits and are currently scheduled to be the subject of extensive survey work later in 2015.

The last site currently of interest to Gold Explorations in Peru, is our Egnone Huinchuni concession in the district of San Pedro, 60km to the North-West of Nazca, lying inside the Western Andean Cordillera in the Lucanas province. This is overall quite a minor field covering only an area of 310ha and is a good prospect for both gold and copper recovery operations to be undertaken. Gold Explorations intends to begin initial survey work at this site early in the first quarter of 2015 and we are confident of obtaining results that will justify additional surveying and development.