1

20 June 2012

EXPLORATION UPDATE

GUADALUPITO IRON AND MINERAL SANDS DEPOSIT, NORTHERN PERU

Highlights

Snowden update of “Heldmaier” JORC compliant inferred resource estimate expected July

2012.

Drilling complete over new 1070 ha area, “Tres Chosas”, along strike to SE of Initial

Resource; new JORC compliant inferred resource estimate expected August 2012.

Early results from “Tres Chosas” drilling show elevated Heavy Mineral content in samples

from shafts and drill holes from surface to over 20 m depth.

Of the 33 shafts that represent the part of the deposit above the water table, 16

contained an average Heavy Mineral (HM) content of greater than 15% in the sand

(-1mm+53um) fraction with a maximum of 23% HM.

Detailed airborne laser (LIDAR) topographic survey completed over majority of Project

area: high precision data to benefit resource estimation and future mine development

studies.

New bulk sample composites of mineralised sands received by CPG-Mineral Technologies

for process test work.

Scoping Study will now incorporate preliminary mineralogical test work on the bulk

samples: expected completion August 2012.

Latin Resources Limited (LRS.ASX) is pleased to announce results from the first 41 drill holes and 33 shafts (Appendix 1) completed within an area called “Tres Chosas”. This new area is now the subject of a new JORC compliant resource estimation over a surface area of 1,070 hectares (Appendix 2) along strike to the south east of the Initial (Heldmaier) resource estimate area. The new resource estimate is expected to be completed in August 2012 following receipt of results throughout June 2012 from a further 99 drill holes that were completed at the end of May 2012. Samples from the shafts represent the part of the deposit which is above the water table (average depth 1.9m) with 16 out of the 33 shafts containing an average of greater than 15% Heavy Mineral (HM) in the sand (-1mm+53µm) fraction. The highest average HM content in the sand fraction of the 33 shafts was 23%HM and the average was 13.2%HM.

LATIN RESOURCES LIMITED ACN: 131 405 144 Level 1, 173 Mounts Bay Road Perth Western Australia 6000 P 08 9485 0601 F 08 9321 6666 E info@latinresources.com.au

2

Bulk sample composites of mineralised sands have been prepared from shaft samples above the water table that represent areas of the Initial (“Heldmaier”) resource estimate and the New (“Tres Chosas”) resource area. These bulk composites have been received by CPG-Mineral Technologies in Carrara, Queensland where they are undergoing an exhaustive process test work programme. Preliminary mineralogical results from this program will constitute important data for the Scoping Study currently being undertaken by Ausenco. In order to maximise the value of the scoping study, this work has been extended to incorporate the preliminary mineralogical data from CPG-Mineral Technologies andis expected to be completed in August 2012. A detailed airborne laser topographic survey has been completed over the majority of Latin’s concessions at Guadalupito and is an important advance for determining the upper surface of all future resource estimates and fundamental for mine planning as part of future scoping and potential feasibility studies due to the high level of detail inherent in the survey. The survey provides topographic contour maps and a digital terrain model based on an average of 13,000 individual measurements per hectare with a precision of 0.5 m vertical metres. The data provides accurate definition of important relief variations between sea level and 7 metres characteristic of the accumulated ancient shoreline sediments that comprise the project area. (Appendix 3) In addition, Latin is pleased to provide an update of results available from within the area of the initial JORC compliant inferred resource estimate announced 21 December 2011. Together with an additional 150 pit samples within the area that were reported 15 March 2012, these new results will be used to update the initial estimate of 119Mt @ 5.7% HM. The new heavy mineral content results from drill holes and shafts (Appendix 4) are of similar grade to those that were used in the initial resource estimate and the area covered by sampling will increase from 682 to 850 hectares (Appendix 5). The updated inferred resource estimate is expected from Snowden later in June 2012. Results from 21 shafts excavated within the western most coastal conglomerate formation in the “Puerto Perdido” area to the north of the initial resource area are presented in Appendix 6 and 7. While the sand fraction of the conglomerates contained significant heavy mineral, the sand fraction itself represented a minor weight component of the formation. Latin’s Managing Director, Mr Chris Gale commented “We are pleased with the progress of exploration at Guadalupito with drilling now completed for our second JORC compliant inferred resource estimate which we anticipate will increase Latin’s resource base at the Guadalupito Iron and Mineral sands project.” With respect to the Scoping Study Mr Gale said “The Guadalupito scoping study is now being extended for completion in August, allowing important mineralogical data to be included that will add significant value to the study”. For further information please contact: Australia United Kingdom United States Chris Gale Managing Director Latin Resources Limited +61 8 9485 0601

David Vilensky Chairman Latin Resources Limited +61 8 9485 0601

David Tasker PPR +61 8 93880944 david.tasker@ppr.com.au

finnCap (Broker) Ben Thompson Elizabeth Johnson +44 20 7220 0500

Allen & Caron Rudy Barrio +1 212 691 8087

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Competent Person statement The information in this report that relates to Geological and Geochemical Data, Exploration Results and Mineral Resources is based on information compiled by Mr Andrew Bristow, a full time employee of Latin Resources Limited’s Peruvian subsidiary. Mr Bristow is a member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and the type of deposit under consideration to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Bristow consents to the inclusion in this report of the matters based on his information in the form and context in which they appear. About Latin Resources Latin Resources Limited is a mineral exploration company focused on creating shareholder wealth through the identification and definition of mineral resources in Latin America, with a specific focus on Peru. The company has a portfolio of projects in Peru and is actively progressing its two main projects: Guadalupito Iron and Heavy Mineral Sands Projects and the Ilo Iron ore, Copper and Gold (IOCG) Projects.

info@latinresources.com.au www.latinresources.com.au

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APPENDIX 1: SAMPLE RESULTS – TRES CHOSAS Averaged drill hole results over intervals of like sedimentary unit. Results >2.5% HM are in RED, <2.5%>1.0% GREEN, <1.0% BLACK.

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-046 24.00 2.1

0.0 7.0 7.0 4.6 92.8 2.6 3.7 3.5 0.006 0.075 SAND

7.0 9.0 2.0 10.1 85.7 4.3 2.1 1.8 0.012 0.073 CONGLOMERATE

9.0 17.0 8.0 2.5 89.3 8.2 2.9 2.6 0.008 0.170 SAND

17.0 19.0 2.0 25.0 66.3 8.7 1.6 1.1 0.001 0.031 CONGLOMERATE

19.0 24.0 5.0 0.7 88.3 11.0 0.4 0.4 0.002 0.013 Unmineralised SILT

GUA-BL-047 26.60 2.80

0.0 4.0 4.0 3.1 93.5 3.4 8.0 7.6 0.022 0.212 SAND

4.0 6.0 2.0 28.6 69.3 2.2 5.0 3.3 0.002 0.142 CONGLOMERATE

6.0 13.0 7.0 1.4 89.1 9.5 4.2 3.5 0.010 0.134 SAND

13.0 20.0 7.0 66.5 22.1 11.5 3.9 0.9 0.005 0.058 CONGLOMERATE

20.0 25.0 5.0 31.6 61.8 6.5 2.9 1.8 0.002 0.017 CONGLOMERATE

25.0 26.6 1.6 83.6 11.5 4.9 2.5 0.3 0.001 0.009 CONGLOMERATE

GUA-BL-047A

21.00 1.60

0.0 4.0 4.0 1.6 95.1 3.3 8.3 8.0 0.005 0.221 SAND

4.0 7.0 3.0 27.0 70.7 2.3 4.0 2.9 0.016 0.132 CONGLOMERATE

7.0 17.0 10.0 2.4 88.8 8.8 4.0 3.5 0.009 0.156 SAND

17.0 21.0 4.0 62.9 32.9 4.2 2.9 0.9 0.007 0.030 CONGLOMERATE

GUA-BL-048 27.00 2.60 0.0 20.0 20.0 5.6 86.8 7.6 3.5 3.1 0.007 0.178 SAND

20.0 27.0 7.0 3.5 43.6 53.0 0.7 0.3 0.002 0.013 Unmineralised SILT

5

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-049 21.00 3.60

0.0 2.0 2.0 1.8 95.4 2.8 25.6 24.4 0.016 0.296 SAND

2.0 5.0 3.0 63.1 34.8 2.2 10.0 3.3 0.091 0.297 CONGLOMERATE

5.0 18.0 13.0 3.6 88.2 8.2 3.2 2.8 0.019 0.176 SAND

18.0 21.0 3.0 0.0 60.8 39.2 0.3 0.2 0.001 0.012 Unmineralised SILT

GUA-BL-050 27.00 1.60

0.0 5.0 5.0 3.2 94.4 2.5 5.8 5.6 0.004 0.133 SAND

5.0 10.0 5.0 21.1 76.4 2.5 3.3 2.5 0.005 0.124 CONGLOMERATE

10.0 20.0 10.0 1.4 89.2 9.4 3.0 2.7 0.004 0.141 SAND

20.0 27.0 7.0 0.1 64.9 35.1 0.8 0.7 0.002 0.018 Unmineralised SILT

GUA-BL-051 30.00 1.60

0.0 7.0 7.0 0.9 95.6 3.4 4.8 4.5 0.008 0.039 SAND

7.0 9.0 2.0 6.6 88.5 4.9 4.4 4.0 0.010 0.035 CONGLOMERATE

9.0 15.0 6.0 0.7 86.5 12.8 4.3 3.7 0.009 0.098 SAND

15.0 30.0 15.0 39.6 51.4 9.0 4.9 2.0 0.008 0.028 CONGLOMERATE

GUA-BL-052 27.00 1.70

0.0 17.0 17.0 5.3 88.6 6.1 2.4 2.0 0.007 0.193 SAND

17.0 23.0 6.0 2.0 77.6 20.4 0.5 0.4 0.002 0.015 unmineralised SAND

23.0 27.0 4.0 22.4 68.6 9.0 1.5 1.0 0.002 0.027 CONGLOMERATE

GUA-BL-053 27.00 1.80 0.0 15.0 15.0 2.1 92.2 5.7 2.7 2.5 0.004 0.166 SAND

15.0 27.0 12.0 39.7 53.7 6.6 2.6 1.3 0.002 0.026 CONGLOMERATE

GUA-BL-054 24.00 1.80

0.0 5.0 5.0 59.0 37.3 3.7 10.9 5.1 0.032 0.186 CONGLOMERATE

5.0 16.0 11.0 3.2 86.9 9.9 2.7 2.4 0.014 0.138 SAND

16.0 24.0 8.0 0.8 60.5 38.7 0.2 0.1 0.002 0.020 unmineralised SAND

6

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-055 27.00 1.60 0.0 16.0 16.0 3.3 88.9 7.8 3.9 3.6 0.004 0.064 SAND

16.0 27.0 11.0 2.6 70.9 26.5 0.6 0.4 0.001 0.013 Unmineralised SILT

GUA-BL-056 24.00 1.00

0.0 5.0 5.0 1.5 95.4 3.1 2.5 2.3 0.002 0.012 SAND

5.0 7.0 2.0 24.4 73.3 2.3 3.3 2.5 0.001 0.070 CONGLOMERATE

7.0 16.0 9.0 2.1 87.5 10.4 1.9 1.7 0.006 0.059 SAND

16.0 24.0 8.0 48.4 45.8 5.8 3.7 1.9 0.003 0.042 CONGLOMERATE

GUA-BL-057 21.00 1.70 0.0 15.0 15.0 1.1 94.3 4.6 5.5 5.3 0.007 0.139 SAND

15.0 21.0 6.0 0.5 54.8 44.7 0.3 0.1 0.002 0.014 Unmineralised SILT

GUA-BL-058 21.00 1.60

0.0 7.0 7.0 1.5 96.3 2.2 2.5 2.4 0.003 0.157 SAND

7.0 10.0 3.0 19.4 74.1 6.5 1.1 0.8 0.002 0.034 CONGLOMERATE

10.0 16.0 6.0 2.1 86.6 11.3 2.7 2.3 0.010 0.107 SAND

16.0 21.0 5.0 0.2 62.9 36.9 0.4 0.2 0.002 0.010 Unmineralised SILT

GUA-BL-059 18.00 2.60

0.0 4.0 4.0 51.0 46.4 2.6 10.6 6.1 0.026 0.106 CONGLOMERATE

4.0 15.0 11.0 3.4 91.0 5.7 2.6 2.4 0.002 0.106 SAND

15.0 18.0 3.0 2.1 72.7 25.2 1.4 1.1 0.014 0.024 SILT

GUA-BL-060 18.00 1.50 0.0 18.0 18.0 2.8 89.5 7.7 3.7 3.4 0.005 0.112 SAND

GUA-BL-061 21.00 1.60 0.0 16.0 16.0 1.8 91.7 6.5 4.6 4.3 0.005 0.062 SAND

16.0 21.0 5.0 11.2 60.9 27.8 0.4 0.2 0.001 0.013 unmineralised CONGLOMERATE

GUA-BL-063 21.00 1.60 0.0 16.0 16.0 0.8 93.3 5.9 4.5 4.2 0.007 0.071 SAND

16.0 21.0 5.0 0.8 67.1 32.1 0.3 0.3 0.002 0.015 Unmineralised SILT

GUA-BL-063 21.00 1.80 0.0 16.0 16.0 1.7 90.0 8.3 4.3 3.9 0.006 0.108 SAND

16.0 21.0 5.0 0.4 66.6 33.0 0.2 0.1 0.003 0.018 Unmineralised SILT

7

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-064 21.00 1.60 0.0 15.0 15.0 2.4 90.2 7.5 5.2 4.8 0.009 0.142 SAND

15.0 21.0 6.0 1.0 61.8 37.2 0.3 0.2 0.006 0.014 Unmineralised SILT

GUA-BL-065 24.00 3.80

0.0 5.0 5.0 60.0 33.5 6.4 11.7 3.0 0.027 0.047 CONGLOMERATE

5.0 15.0 10.0 1.2 93.8 5.0 3.6 3.3 0.003 0.070 SAND

15.0 24.0 9.0 0.6 81.5 17.9 1.1 0.9 0.004 0.032 SILT

GUA-BL-066 18.00 1.20

0.0 5.0 5.0 0.1 97.2 2.7 8.5 8.3 0.008 0.292 SAND

5.0 7.0 2.0 25.3 65.8 8.9 4.2 2.7 0.003 0.044 CONGLOMERATE

7.0 14.0 7.0 0.3 92.1 7.7 3.2 2.9 0.008 0.092 SAND

14.0 18.0 4.0 0.3 69.7 30.0 0.9 0.6 0.003 0.012 Unmineralised SILT

GUA-BL-067 18.00 1.80

0.0 3.0 3.0 57.5 38.8 3.8 13.5 5.2 0.009 0.153 CONGLOMERATE

3.0 16.0 13.0 2.1 90.2 7.6 3.4 3.0 0.010 0.078 SAND

16.0 18.0 2.0 0.5 64.7 34.9 0.1 0.1 0.003 0.012 Unmineralised SILT

GUA-BL-068 21.00 2.80

0.0 5.0 5.0 64.9 31.6 3.4 13.5 3.4 0.043 0.124 CONGLOMERATE

5.0 16.0 11.0 0.4 93.0 6.7 2.8 2.6 0.006 0.095 SAND

16.0 21.0 5.0 0.3 74.0 25.6 0.3 0.2 0.004 0.015 Unmineralised SILT

GUA-BL-069 24.00 1.8

0.0 5.0 5.0 51.6 43.7 4.7 6.2 2.4 0.087 0.185 CONGLOMERATE

5.0 16.0 11.0 0.9 92.2 6.8 2.3 2.1 0.003 0.090 SAND

16.0 24.0 8.0 1.8 75.9 22.2 0.5 0.4 0.006 0.017 Unmineralised SILT

GUA-BL-070 18.00 2.2

0.0 4.0 4.0 19.0 75.4 5.6 18.8 14.2 0.053 0.145 CONGLOMERATE

4.0 15.0 11.0 1.0 94.0 5.0 1.8 1.7 0.004 0.048 SAND

15.0 18.0 3.0 1.6 67.6 30.7 0.2 0.1 0.002 0.025 Unmineralised SILT

8

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-071 18.00 1.2 0.0 15.0 15.0 3.4 89.5 7.1 3.4 3.1 0.005 0.197 SAND

15.0 18.0 3.0 0.4 54.9 44.7 0.2 0.1 0.002 0.013 Unmineralised SILT

GUA-BL-072 24.00 3.15

0.0 3.0 3.0 54.9 39.7 5.5 16.5 5.9 0.027 0.055 CONGLOMERATE

3.0 13.0 10.0 0.8 93.6 5.6 2.4 2.2 0.003 0.038 SAND

13.0 17.0 4.0 0.1 91.4 8.5 0.4 0.4 0.005 0.027 unmineralised SAND

17.0 24.0 7.0 0.8 80.5 18.6 0.2 0.2 0.002 0.012 Unmineralised SILT

GUA-BL-073 18.00 1.6 0.0 16.0 16.0 1.6 92.0 6.4 5.2 4.9 0.004 0.090 SAND

16.0 18.0 2.0 1.0 67.5 31.5 0.1 0.1 0.004 0.015 Unmineralised SILT

GUA-BL-074 21.00 2.6

0.0 5.0 5.0 58.4 37.1 4.5 9.3 3.1 0.037 0.083 CONGLOMERATE

5.0 14.0 9.0 1.6 93.1 5.3 1.9 1.7 0.005 0.073 SAND

14.0 21.0 7.0 1.1 81.7 17.2 0.5 0.4 0.003 0.049 Unmineralised SILT

GUA-BL-074A

3.00 2.6 0.0 3.0 3.0 72.2 19.2 8.6 8.0 1.3 0.018 0.040 CONGLOMERATE

GUA-BL-075 21.00 1.5

0.0 12.0 12.0 1.6 93.7 4.7 6.3 5.9 0.003 0.036 SAND

12.0 17.0 5.0 1.3 92.2 6.5 0.3 0.2 0.006 0.064 unmineralised SAND

17.0 21.0 4.0 0.6 67.9 31.5 0.0 0.0 0.002 0.009 Unmineralised SILT

GUA-BL-076 18.00 1.6

0.0 9.0 9.0 1.5 94.5 4.0 2.6 2.5 0.002 0.053 SAND

9.0 14.0 5.0 0.8 88.9 10.3 0.5 0.5 0.002 0.035 unmineralised SAND

14.0 18.0 4.0 1.0 75.0 24.0 0.0 0.0 0.002 0.013 Unmineralised SILT

9

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm +53µm)

% Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either OS

or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-077 18.00 2.2

0.0 3.0 3.0 25.2 71.2 3.6 4.7 3.2 0.060 0.089 CONGLOMERATE

3.0 9.0 6.0 2.3 94.3 3.4 2.0 1.9 0.004 0.084 SAND

9.0 15.0 6.0 1.1 93.9 4.9 0.7 0.7 0.006 0.077 unmineralised SAND

15.0 18.0 3.0 1.1 73.5 25.3 0.1 0.1 0.002 0.010 Unmineralised SILT

GUA-BL-078 12.00 1.9 0.0 6.0 6.0 65.7 30.3 4.0 8.9 1.9 0.017 0.041 CONGLOMERATE

6.0 12.0 6.0 1.6 95.2 3.3 2.9 2.8 0.001 0.066 SAND

GUA-BL-079 12.00 2.5 0.0 12.0 12.0 5.5 90.5 4.0 3.6 3.3 0.003 0.097 SAND

GUA-BL-080 12.00 2.8 0.0 12.0 12.0 5.5 91.2 3.2 5.3 3.9 0.016 0.050 SAND

GUA-BL-081 12.00 2.6 0.0 7.0 7.0 25.0 72.7 2.4 3.0 2.0 0.010 0.042 CONGLOMERATE

7.0 12.0 5.0 0.3 96.6 3.1 2.4 2.3 0.012 0.136 SAND

GUA-BL-082 12.00 2.4 0.0 5.0 5.0 53.2 43.3 3.5 7.0 3.3 0.014 0.138 CONGLOMERATE

5.0 12.0 7.0 3.0 93.5 3.5 2.5 2.3 0.003 0.073 SAND

GUA-BL-083 12.00 1.7 0.0 12.0 12.0 3.3 92.7 3.9 2.8 2.5 0.004 0.045 SAND

GUA-BL-084 18.00 1.5 0.0 16.0 16.0 0.5 94.1 5.3 1.7 1.6 0.004 0.051 SAND

16.0 18.0 2.0 0.0 72.1 27.9 0.3 0.3 0.001 0.005 Unmineralised SILT

10

Averaged Shaft results over full depth of shaft. Results >2.5% HM are in RED, <2.5%>1.0% GREEN, <1.0% BLACK.

Shaft ID

Shaft Depth (eqv. to water

table) (m)

FROM (m) TO (m) INTERVAL

(m) % Oversize (+6.35mm)

% Oversize (-6.35mm

+1mm)

% Sand (-1mm +53um)

%Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in

either OS or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SH-046 1.4 0.0 1.4 1.4 0.3 0.0 98.4 1.3 5.2 5.1 0.003 0.172

SH-047 1.9 0.0 1.9 1.9 1.1 0.0 97.9 0.9 9.6 9.5 0.011 0.572

SH-048 1.3 0.0 1.3 1.3 21.6 0.3 77.6 0.6 16.6 12.9 0.060 1.069

SH-048I 1.8 0.0 1.8 1.8 15.9 0.2 83.2 0.8 11.1 9.5 0.045 0.397

SH-049 1.8 0.0 1.8 1.8 20.2 0.3 78.6 0.9 17.6 14.4 0.042 0.773

SH-050 1.8 0.0 1.8 1.8 0.6 0.4 98.5 0.6 9.0 8.9 0.002 0.877

SH-051 1.4 0.0 1.4 1.4 0.6 0.3 97.3 1.8 11.3 10.9 0.009 0.234

SH-052 1.0 0.0 1.0 1.0 53.1 1.2 44.5 1.2 19.6 8.7 0.037 0.255

SH-053 1.4 0.0 1.4 1.4 28.5 1.6 68.6 1.3 10.6 5.4 0.003 0.155

SH-054 2.0 0.0 2.0 2.0 39.9 0.1 59.4 0.6 16.2 10.7 0.007 0.547

SH-055 1.0 0.0 1.0 1.0 0.1 0.0 97.6 2.3 18.6 18.1 0.004 0.385

SH-056 1.7 0.0 1.7 1.7 0.1 0.3 97.8 1.8 3.0 3.0 0.002 0.025

SH-057 2.0 0.0 2.0 2.0 0.0 0.1 99.2 0.8 16.0 15.8 0.004 0.735

SH-058 2.0 0.0 2.0 2.0 0.0 0.0 98.9 1.0 3.4 3.3 0.002 0.170

SH-059 1.2 0.0 1.2 1.2 4.0 0.5 94.0 1.4 11.7 11.0 0.004 0.132

SH-060 1.7 0.0 1.7 1.7 0.0 0.2 98.6 1.3 17.5 17.3 0.007 0.302

SH-061 1.7 0.0 1.7 1.7 0.6 1.8 92.6 5.0 9.6 8.8 0.003 0.051

SH-062 1.9 0.0 1.9 1.9 0.1 0.1 98.7 1.1 15.3 15.1 0.004 0.395

SH-063 2.0 0.0 2.0 2.0 0.0 0.0 99.1 0.9 7.0 6.9 0.003 0.364

SH-064 2.0 0.0 2.0 2.0 0.0 0.1 98.9 1.0 18.6 18.4 0.027 0.763

SH-065 3.3 0.0 3.3 3.3 50.9 0.4 48.0 0.6 18.1 8.4 0.021 0.251

SH-066 1.6 0.0 1.6 1.6 2.0 0.1 96.5 1.4 12.4 11.8 0.003 0.553

SH-067 2.5 0.0 2.5 2.5 76.0 0.2 23.3 0.6 15.8 3.8 0.003 0.091

SH-068 3.0 0.0 3.0 3.0 79.3 0.6 19.3 0.7 16.5 3.3 0.015 0.263

11

Shaft ID

Shaft Depth (eqv. to

water table) (m)

FROM (m) TO (m) INTERVAL

(m) % Oversize (+6.35mm)

% Oversize (-6.35mm

+1mm)

% Sand (-1mm

+53um)

%Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in

either OS or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SH-070 2.5 0.0 2.5 2.5 18.1 0.2 80.8 0.8 23.0 18.5 0.031 0.655

SH-071 2.0 0.0 2.0 2.0 0.0 0.0 99.2 0.8 8.7 8.6 0.046 0.523

SH-072 2.5 0.0 2.5 2.5 43.5 0.3 55.2 1.0 17.9 8.0 0.014 0.273

SH-073 2.5 0.0 2.5 2.5 0.0 0.0 99.1 0.9 19.0 18.8 0.005 0.876

SH-074 3.1 0.0 3.1 3.1 79.6 2.2 17.2 1.0 11.6 2.1 0.059 0.187

SH-075 1.9 0.0 1.9 1.9 4.7 0.4 93.9 0.9 19.0 17.6 0.006 0.384

SH-076 0.5 0.0 0.1 0.1 0.1 0.7 97.7 1.5 10.5 10.3 0.005 0.065

SH-077 1.1 0.0 1.1 1.1 26.5 1.0 71.2 1.3 5.2 3.7 0.014 0.244

Drill holes were sampled every one metre interval, with the majority of samples representing all material recovered. In some cases where the nature of the material allowed for halving of the sonic drill core, half core samples were taken. All samples were submitted to the CERTIMIN (ex-CIMM Peru) laboratory in Lima, and were subject to size fractionation (+1mm, -1mm+53µm and -53µm), with the -1mm+53µm fraction assayed for gold content by fire assay and subject to dense liquid separation (TBE, SG 2.96) to determine total heavy mineral content, and the -53µm fraction assayed for gold content by fire assay.

Heavy mineral content decreases from surface, although there are significant intersections of Heavy Mineral content and gold to depths in excess of 20 m (Appendix 1 and 4). As previously reported, samples from shafts were preferred over equivalent drill samples in conglomerate and above the water table. Each drill hole that was collared in conglomerate was “twinned” above the water table with 1 m diameter cylindrical shafts advanced ahead of steel casing rings that permitted the extraction of bulk samples without contamination from collapse of the unconsolidated material that comprised the formation.

All the material extracted from the shafts was weighed and sieved in the field through a 6.3 mm sieve. The resulting -6.3 mm material was representatively sub-sampled to approximately 25 kg and submitted to the CERTIMIN (ex-CIMM Peru) laboratory in Lima for the same preparation and analytical procedure as the drill samples.

12

APPENDIX 2: MAPPED DATA – TRES CHOSAS

Locations of the Drill Holes and Shafts corresponding to results reported in Appendix 1 have been mapped on the next page within the area of the proposed new “Tres Chosas” JORC compliant resource estimate.

The extent of the map compared to Latin’s concession holding is shown on this page in magenta:

AREA OF MAP

13

14

APPENDIX 3: DIGITAL TERRAIN MODEL FROM AIRBORNE LASER (LIDAR) SURVEY

15

APPENDIX 4: SAMPLE RESULTS - HELDMAIER

Averaged drill hole results over intervals of like sedimentary unit. Results >2.5% HM are in RED, <2.5%>1.0% GREEN, <1.0% BLACK.

HOLE ID

TOTAL DEPTH

OF HOLE

DEPTH TO

WATER TABLE

(m)

FROM (m)

TO (m)

INTERVAL (m)

% Oversize (+1mm)

% Sand

(-1mm

+53µm)

% Undersize

(-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either

OS or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SEDIMENT UNIT

GUA-BL-035 18.00 6.20 0.0 12.0 12.0 65.5 29.9 4.5 7.9 1.2 0.007 0.031 CONGLOMERATE

12.0 18.0 6.0 11.3 82.3 6.4 0.8 0.6 0.001 0.006 unmineralised SAND

GUA-BL-035A 21.00 6.20 0.0 12.0 12.0 71.5 24.1 4.4 7.4 0.9 0.015 0.040 CONGLOMERATE

12.0 21.0 9.0 0.1 92.4 7.5 0.9 0.8 0.003 0.008 unmineralised SAND

GUA-BL-036 18.00 1.00

0.0 3.0 3.0 4.5 91.1 4.4 8.9 8.2 0.005 0.120 SAND

3.0 7.0 4.0 19.8 77.7 2.5 3.7 2.8 0.004 0.339 CONGLOMERATE

7.0 13.0 6.0 1.3 92.7 6.0 4.3 3.9 0.005 0.063 SAND

7.0 18.0 11.0 1.1 87.9 11.1 2.8 2.5 0.004 0.043 SAND

GUA-BL-037 21.00 2.00

0.0 4.0 4.0 0.0 96.0 3.9 10.5 10.1 0.038 0.307 SAND

4.0 6.0 2.0 15.4 81.8 2.8 2.2 1.8 0.017 0.037 CONGLOMERATE

6.0 18.0 12.0 0.9 85.3 13.8 2.1 1.8 0.005 0.058 SAND

6.0 21.0 15.0 0.8 82.3 16.8 1.8 1.5 0.004 0.049 SAND

GUA-BL-038 21.00 2.50

0.0 4.0 4.0 49.9 47.9 2.3 11.9 6.5 0.008 0.144 CONGLOMERATE

4.0 15.0 11.0 1.9 89.8 8.3 2.7 2.5 0.014 0.067 SAND

4.0 21.0 17.0 1.9 85.5 12.6 2.0 1.9 0.011 0.050 SAND

GUA-BL-039 21.00 2.60

0.0 2.0 2.0 1.4 97.6 1.0 17.0 16.5 0.005 0.529 SAND

2.0 6.0 4.0 54.6 39.4 6.0 6.1 2.3 0.015 0.032 CONGLOMERATE

6.0 19.0 13.0 2.6 89.2 8.2 3.0 2.7 0.009 0.092 SAND

19.0 21.0 2.0 1.4 66.4 32.2 0.5 0.3 0.003 0.020 Unmineralised SILT

GUA-BL-040 21.00 3.10

1.0 3.0 2.0 19.4 73.7 6.9 6.6 4.8 0.008 0.031 CONGLOMERATE

3.0 10.0 7.0 2.3 90.9 6.8 1.0 0.9 0.004 0.034 unmineralised SAND

10.0 15.0 5.0 1.6 90.5 7.9 2.7 2.4 0.015 0.090 SAND

15.0 21.0 6.0 0.3 73.1 26.6 0.3 0.2 0.001 0.014 Unmineralised SILT

16

Averaged Shaft results over full depth of shaft. Results >2.5% HM are in RED, <2.5%>1.0% GREEN, <1.0% BLACK.

Shaft ID

Shaft Depth (eqv. to

water table) (m)

FROM (m) TO (m) INTERVAL

(m) % Oversize (+6.35mm)

% Oversize (-6.35mm

+1mm)

% Sand (-1mm +53um)

%Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either

OS or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SH-032 2.10 0.00 2.10 2.10 50.6 3.1 45.9 0.4 23.3 10.9 0.025 0.731

SH-033 2.50 0.00 2.50 2.50 85.8 3.2 10.3 0.7 15.5 1.3 0.141 1.522

SH-033A 4.00 0.00 4.00 4.00 86.7 1.4 11.4 0.5 10.6 0.9 0.041 0.201

SH-034 1.50 0.00 1.50 1.50 0.3 0.5 98.7 0.5 39.7 39.2 0.021 1.942

SH-034A 2.75 0.00 2.75 2.75 38.4 0.9 60.5 0.3 38.5 25.1 0.015 1.330

SH-035 4.00 0.00 4.00 4.00 86.9 2.7 9.9 0.5 9.8 0.8 0.017 0.073

SH-036 1.00 0.00 1.00 1.00 0.2 0.6 98.0 1.3 5.2 5.1 0.007 0.052

SH-036I 2.80 0.00 2.80 2.80 67.8 0.1 31.8 0.3 14.5 4.2 0.026 0.569

SH-037 2.00 0.00 2.00 2.00 0.0 0.0 99.3 0.7 14.5 14.3 0.005 1.270

SH-038 2.35 0.00 2.55 2.55 65.6 0.2 33.9 0.3 10.3 3.8 0.020 0.588

SH-039 2.35 0.00 2.35 2.35 8.7 2.4 88.6 0.3 19.1 16.9 0.003 1.510

SH-040 2.00 0.00 2.00 2.00 22.0 1.2 76.3 0.5 9.0 6.6 0.006 0.195

SH-078 4.00 0.00 4.00 4.00 83.4 2.9 13.2 0.5 6.4 0.9 0.078 0.199

SH-079 2.85 0.00 2.85 2.85 24.7 1.8 72.9 0.6 14.4 10.5 0.057 0.988

17

APPENDIX 5: MAPPED DATA - HELDMAIER

Locations of the Drill Holes and Shafts corresponding to results reported in Appendix 4 have been mapped on the next page within the boundary of the initial JORC compliant resource estimate (yellow boundary), with the area to be updated outlined in green.

The extent of the map compared to Latin’s concession holding is shown on this page in magenta:

AREA OF MAP

18

NEW DATA AVAILABLE WITHIN

INITIAL RESOURCE AREA

19

APPENDIX 6: SAMPLE RESULTS – PUERTO PERDIDO

Averaged shaft results over full depth of shaft. Results >2.5% HM are in RED, <2.5%>1.0% GREEN, <1.0% BLACK.

Shaft ID Shaft Depth

(eqv. to water table) (m)

FROM (m)

TO (m) INTERVAL

(m) % Oversize (+6.35mm)

% Oversize (-6.35mm

+1mm)

% Sand (-1mm +53um)

%Undersize (-53um)

HM (%) in Sand fraction

HM (%) TOTAL

assuming no HM in either

OS or US

Au (g/t) in Sand

Fraction

Au (g/t) in Undersize

SH-080 4.0 0.0 4.0 4.0 86.6 1.7 11.2 0.5 5.2 0.7 0.050 0.155

SH-081 4.0 0.0 4.0 4.0 81.5 4.2 13.6 0.7 5.6 0.7 0.004 0.061

SH-082 4.0 0.0 4.0 4.0 85.6 2.2 11.8 0.5 4.8 0.6 0.013 0.056

SH-083 4.0 0.0 4.0 4.0 82.3 4.5 12.4 0.8 7.1 0.9 0.033 0.101

SH-084 2.0 0.0 2.0 2.0 34.2 1.0 64.2 0.7 23.0 13.0 0.012 0.130

SH-085 4.0 0.0 4.0 4.0 81.3 5.5 12.2 1.0 9.0 1.1 0.003 0.027

SH-086 1.9 0.0 1.9 1.9 50.5 2.1 46.7 0.7 15.6 11.2 0.012 0.143

SH-087 4.0 0.0 4.0 4.0 78.8 3.0 17.2 0.9 8.2 1.5 0.002 0.080

SH-088 4.0 0.0 4.0 4.0 82.9 3.2 13.3 0.5 7.7 1.2 0.007 0.084

SH-089 4.0 0.0 4.0 4.0 88.4 2.6 8.7 0.3 6.3 0.5 0.003 0.026

SH-090 4.0 0.0 4.0 4.0 84.5 2.9 12.0 0.6 5.4 0.8 0.017 0.108

SH-091 4.0 0.0 4.0 4.0 87.0 3.4 9.1 0.5 3.8 0.4 0.004 0.019

SH-092 4.0 0.0 4.0 4.0 85.2 1.4 13.0 0.4 7.7 1.1 0.028 0.071

SH-093 4.0 0.0 4.0 4.0 85.2 3.5 10.9 0.5 4.5 0.6 0.009 0.044

SH-094 3.6 0.0 3.6 3.6 86.1 1.0 12.3 0.6 6.2 0.9 0.006 0.119

SH-095 4.0 0.0 4.0 4.0 88.7 1.5 9.3 0.6 5.0 0.5 0.009 0.046

SH-096 2.2 0.0 2.0 2.0 87.4 1.8 10.3 0.5 7.1 1.1 0.005 0.045

SH-097 4.0 0.0 4.0 4.0 88.3 2.0 9.1 0.6 4.8 0.5 0.016 0.082

SH-098 3.0 0.0 3.0 3.0 92.6 1.8 4.9 0.6 1.6 0.1 0.000 0.023

SH-099 4.0 0.0 4.0 4.0 85.4 4.3 9.6 0.6 8.1 0.7 0.007 0.078

SH-100 4.0 0.0 3.3 3.3 84.9 1.1 13.4 0.6 6.2 1.0 0.004 0.101

20

APPENDIX 7: MAPPED DATA – PUERTO PERDIDO

Locations of Shafts corresponding to results reported in Appendix 6 have been mapped on the next page.

The extent of the map compared to Latin’s concession holding is shown on this page in magenta:

AREA OF MAP

21