Ajedrez Project

Alluvial Ecological Gold

Argentina2014

ESPIRITU DE LOS ANDES S.A. is an Argentine company focused on the exploration, development and exploitation of alluvail ecolgical gold projects in the country.

AJEDREZ PROJECT is one of most important alluvial gold projects in Argentina due to the quality of the ore and the estimate amount of its reserves

The Project is located in the well-known Gold District Sierra de La Rinconada, in the northwest region of the Province of Jujuy, 300 km away from the capital of the province, the City of San Salvador de Jujuy.

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THE PROJECT

AJEDREZ PROJECT

70Km.

25 Km. 25 Km.

200Km.

50Km.

AJEDREZPROJECT

AJEDREZPROJECT

LA QUIACA

AJEDREZ PROJECTLOCATION & DISTANCEPROVINCE OF JUJUY - ARGENTINA

AJEDREZ PROJECT

2 Mining Properties

6.000 Ha

3.900 m. a. s. l.

Given the characteristics of this deposit, it is possible to implement conventional mechanical methods to extract and concentrate gold at a very low cost.

The main gold reserves of the Project are located in the river terraces and the floodplain.

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THE PROJECT

AJEDREZ PROJECT

The average ore grade within these exploration targets is 0,6 g/m3. Areas with up to 1,0 g/m3 have also been found.

The current exploration area represents approximately 25% of the total surface of the Project. Preliminary Studies and previous exploitation work in the area allow the estimation of the existence of at least 100,000 troy ounces (around 3,000 kg) of gold in this sector of the Project.

Due to the almost complete lack of snow season, exploration and exploitation activities can be carried out through the entire year.

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THE PROJECT

AJEDREZ PROJECT

AJEDREZ PROJECT PROVINCE OF JUJUY - ARGENTINA

AJEDREZ PROJECTACCESS & ROADS

PROVINCE OF JUJUY - ARGENTINA

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AJEDREZ PROJECT ACCESS & ROADS

CERRO OROSMAYO

AJEDREZ PROJECT

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BACKGROUND - EXPLOITATION HISTORICAL SITES

AJEDREZ PROJECT

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BACKGROUND- EXPLOITATION AREAS AT OROSMAYO (2006)

Mines Alfa, Beta & Gama

AJEDREZ PROJECT

Ciénaga Grande Sector

AJEDREZ PROJECTBACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)

Campo Lavadero Sector

AJEDREZ PROJECTBACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)

Campo Lavadero Sector

Thickness of the Mineralized Sector:

2 meters (from bottom to top)

Delta Mine

AJEDREZ PROJECT BACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)

Cortaderoyoc Sector

Epsilon Mine

AJEDREZ PROJECT BACKGROUND – EXPLOITATION AREAS AT OROSMAYO (2006)

Thickness of the Mineralized Sector:

2 meters (from bottom to top)

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BACKGROUND- GOLD PANNING AT OROSMAYO RIVER (2006)

AJEDREZ PROJECT

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BACKGROUND- GOLD PANNING AT OROSMAYO RIVER (2006)

AJEDREZ PROJECT

knelson 32”

Tromel

Knelson 10”

BACKGROUND- CONCENTRATION PILOT PLANT AT OROSMAYO (2006)

AJEDREZ PROJECT

AJEDREZ PROJECT BACKGROUND- GOLD AT OROSMAYO (2006)

By the end of 2013, ESPIRITU DE LOS ANDES S.A. signed a Joint Venture Contract with J.E.M.S.E. (Energy and Mining State Company of the Province of Jujuy), in the pursuit of development and growth of both Companies, as well as the economy and welfare of the local Communities and the areas of influence where the Project is located.

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PRESENT

AJEDREZ PROJECT

During the last two years, ESPIRITU DE LOS ANDES S.A. has been engaged to the intense task of socialization with the local Communities that inhabit the Project area, reaching a very positive and important Company-Community relationship.

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PRESENT

AJEDREZ PROJECT

The Environmental Impact Assessment (E.I.A.) of the Project has recently been unanimously agreed on and approved by the Provincial Environmental Management Unit of Jujuy, Unidad de Gestión Ambiental Provincial (U.G.A.M.P.). This entity is formed by more than ten (10) state organizations of the Province of Jujuy, the University of Jujuy, the Central Union of Mine Workers and representatives of the local communities and indigenous peoples.

On May 7th 2014, the Directorate of Mining of the Province of Jujuy approved the E.I.A., thus authorizing the exploration activities for the Ajedrez Project.

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PRESENT

AJEDREZ PROJECT

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MINING POTENTIAL

GENERAL CONDITIONS

NETWORKING

AJEDREZ PROJECT

Since the approval of the E.I.A., an intense exploration programme is being carried out. Its main objective is to confirm the gold potential of the Project and to define its economic feasibility as soon as possible:

- Mineralogical Analysis

- Granulometric Analysis

- Sedimentological Analysis

- Hydrological Survey

- Geochemical Analysis

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PRESENT

AJEDREZ PROJECT

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AJEDREZ PROJECT

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AJEDREZ PROJECT

A treatment plant will be installed within the Project area, and it will be equipped mainly with centrifugal concentrators, with a high recovery rate of very fine ore.

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FUTURE INVESTMENT & EXPLOITATION PLAN

AJEDREZ PROJECT

The current design for the Exploitation Stage foresees the monthly production of eight (8) to twelve (12) kilograms of gold, with the ore concentration equipment in use.

Provided this production rate is maintained, the Project could have a mine life of thirty (30) years.

Due to the strong commitment to the continuous improvement of the life conditions of the Local Communities, the Company is carrying out constant corporate social responsibility work.

ESPIRITU DE LOS ANDES S.A. plans to start producing ecological gold on the first semester of 2015.

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FUTURE INVESTMENT & EXPLOITATION PLAN

AJEDREZ PROJECT

THANK YOU FOR

YOUR ATTENTION!!!

AJEDREZ PROJECT