Mindoro has multiple opportunities for near and medium term cash flow potential in the Philippines through four joint venture agreements with TVI Resource Development (Phils.), Inc. ("TVIRD").

---

Highlights:

Agata Project: Iron - nickel laterite project is being advanced in two stages under joint ventures with TVIRD:

1. DSO Joint Venture:
   • Feasibility study is near completion for a Direct Shipping Ore (DSO) project, leading, subject to economic viability and final permitting, to commencing a DSO operation in 2014.
   • Mindoro carried to production
2. Processing Joint Venture:
   • Pilot testing is underway, followed by a definitive feasibility study in 2014.
   • Mindoro carried through to completion of the study

Pan de Azucar Project: Sulphur-copper-gold Exploration Target under joint venture with TVIRD.

---

Recent Updates:

• 02-May-17:
• 06-Feb-17:
• 30-Nov-16: