Assmicor Porphyry Copper-Gold Prospect

The Assmicor prospect area lies approximately one kilometer south of the American Tunnels prospect and is adjacent with the Limestone Prospect area. During the 1980s, thousands of artisanal miners mined a saprolite (soil) horizon at Assmicor to shallow depths.



Fifteen separate channel samples collected over 48 meters of development within the upper levels of the Assmicor Mine, in near-continuous channels, yielded an average grade of 6.28 g/t Au. Highest grades were 26.82 g/t Au and 13.24 g/t Au over two separate 2.3 meter channel samples.

When the channel samples from the upper and lower workings of the Assmicor underground development are composited, the average grade over 86.7 m of channel sampling is 5.2 g/t Au. There is no doubt that supergene enrichment has occurred and these values do not reflect underlying primary grades.

Mindoro drilled nine diamond holes covering 559 meters in the vicinity of Assmicor Shaft in 1999. The gold intersections encountered are tabulated below:

Hole No.	From (m)	To (m)	Length (m)	Gold g/t
99-01	0.00	7.80	7.80	0.63
99-02	0.00	7.20	7.20	0.43
99-03	9.00	18.00	9.00	0.54
99-04	11.20	12.00	0.80	12.4
99-04	12.00	18.85	6.85	0.27
99-04	43.80	45.30	1.50	5.58
99-05	2.40	21.20	18.80	1.13
99-06	0.00	24.20	24.20	1.38
99-07	0.00	5.60	5.60	0.72
99-11	38.10	41.95	3.85	0.56
99-11	100.60	103.60	3.00	0.52

The mineralization of the Assmicor target area offers potential for a shallow-oxide, bulk-mineable resource, as well as a bulk-tonnage, low-grade primary gold system at depth.

TECHNICAL REPORTS

April 25, 2005

Independent Geological Report on the Surigao Property Group