· 2 ABOUT PRONICARAGUA PRONicaragua is the official investment and export promotion agency of...

www.nicaragua-pdac.org


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ABOUT PRONICARAGUA

PRONicaragua is the official investment and export promotion agency of Nicaragua, established in 2002. It is a non-profit, public-private institution whose mission is to generate sustainable economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment.

Because of its public-private nature, the agency works hand in hand with government institutions, companies and industry associations, thus becoming an ideal facilitator to help attract and implement foreign investments.

The agency provides the following complimentary support services to qualified investors seeking investment opportunities in our country:

Complete information on business opportunities in Nicaragua and key business information.

Customized site visits with tailor-made information packages. We strive to provide the best service since our guests arrive in the airport.

Facilitation services including advisory and advocacy for foreign investors. We support companies throughout the entire investment process by providing referrals, government contacts and general start-up facilitation services.

Assistance in finding local companies for possible joint ventures and identifying suppliers and other forms of business alliances.

Assistance with identifying the ideal real estate option for your project and support with due diligence.

Aftercare services to identify and help resolve the main problems affecting established investors in order to improve the business climate.

Contact us at [email protected] or visit our website (www.pronicaragua.org) to obtain information of how to invest in Nicaragua and arrange for a customized site visit.

TABLE OF CONTENTS

Source: Investor Guideline, the Mining Sector.

About PRONicaragua 2

Canadian Embassy 3

Country Profile 4

The Mining Sector 5

Concessions Map 8

Legal Framework 9

Steps to Obtain a Mining Concesssion

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Nicaraguan Chamber of Mines

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Some of the projects

Alder Resources Ltd. 16

B2Gold Corp. 16

Calibre Mining Corp. 17

Caza Gold Corp. 17

Condor Gold Plc. 18

Golden Reign Resources Ltd. 18

Hemco 19


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CANADIAN EMBASSY

The Canadian Trade Commissioner Service (TCS) helps companies navigate the complexities of international markets and make better business decisions. The TCS is on the ground in more than 150 cities worldwide, gaining market intelligence, and uncovering opportunities for Canadian companies and helping reduce business costs and risks.

If you are considering an investment opportunity in Nicaragua, the Trade Commissioner Service is available to assist you. Discussing your strategy with a Trade Commissioner at the Embassy of Canada in Costa Rica is recommended in order to:• Discuss the most recent market intelligence pertinent to your case (Market Assessment)• Obtain referrals to appropriate contacts to assist with investment strategy• Obtain referrals to local professional service providers appropriate to your situation (lawyers, accountants, etc.)

Contact us at [email protected] or visit our website (www.tradecommissioner.gc.ca.) for investment support in Nicaragua.

The Canadian Embassy in Costa RicaOficentro Ejecutivo La Sabana, Detrás de la Contraloría, Sabana Sur, Edificio 5, Piso 3, San Jose, Costa RicaTel: (011-506) 2242-4400 Fax: (011-506) 2242-4415


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Nicaragua, the largest country in Central America, is strategically located in the heart of the Americas, between Honduras and Costa Rica, to the west with the Pacific Ocean and to the east with the Caribbean.

Nicaragua enjoys abundant natural resources, high levels of personal safety and a vast and qualified labor pool of young people. These competitive advantages, along with the continuous development of the country’s infrastructure and investment climate, have positioned Nicaragua as one of the most attractive countries in the region for foreign direct investment.

Source: PRONicaragua, 2012.

Republic of Nicaragua

130,373.4 km2

Managua

Spanish

UTC/GMT – 6 hours

Between 68°F and 82°F

US$9,858.6 million

US$1,653

4.0%

US$1,000 million

US$4,963.3 million

5.9 million

1.3%

77%

0.589

74 years

96.7%

2.9 million

Cordoba

C$24.73 = US$1.00

6.6%

2012 General Country Information

Official NameTotal AreaCapital CityOfficial Language Standard Time ZoneTemperatureGDP GDP per capitaGDP Real Growth RateForeign Direct Investment Total ExportsPopulation Annual Population Growth RatePopulation under 39Human Development Index Life Expectancy Literacy Rate Labor Force CurrencyAverage Exchange Rate (2013)Accumulated Inflation Rate

COUNTRY PROFILE


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224,

432.

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Nicaragua’s mining tradition dates back to the nineteenth century and has since become one of the country’s most dynamic economic sectors. According to the Ministry of Energy and Mines (MEM, for its acronym in Spanish), the mining sector established itself as one of the country’s most important exporters, with gold reaching US$422 million in exports in 2012. Additionally, year after year gold has ranked as Nicaragua’s top five export products.

Recognizing the mining sector’s potential to boost the country’s economic growth, the Government of Nicaragua, through the MEM, has actively promoted investments by establishing a solid legal framework and facilitating the development of mining projects.

International companies such as Alder Resources Ltd., B2Gold Corp., Calibre Mining Corp., Caza Gold Corp., Condor Gold Plc., Golden Reign Resources Ltd., and Hemco are currently developing successful projects in Nicaragua. All companies abide by national legislation and implement social responsibility practices with their employees, the communities where they are established and the environment.

Less than 10 percent of the country is under exploration and all current mining operations take place in three historical districts: the Golden Triangle (Bonanza, Siuna and Rosita), La Libertad / Santo Domingo, and El Limón / La India.

0

50000

100000

150000

200000

250000

300000

THE MINING SECTOR

328,

152.

89

Source: Ministry of Energy and Mines (MEM), January 2013.


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GOLD AND SILVER EXPORTS IN NICARAGUA 2007 - 2012

0

50

100

150

200

250

300

350

400

0

2

4

6

8

10

THE MINING SECTOR

Source: Ministry of Energy and Mines (MEM), January 2013.

Gold Exports Silver Exports

2012 2012

10.84422.80

Mining activity in Nicaragua takes place in two industrial sub-sectors: metallic and non-metallic.

1. Metallic sub-sector: Exploration and Exploitation

• Includes production of gold and silver. • Includes national small-scale miners who extract gold for local sale. • Its largest companies are from Canada, the United Kingdom and Nicaragua. • Main export markets are the United States and Canada.

2. Non-metallic sub-sector: • Dedicated to the extraction of sand, concrete, rock fill, limestone, lime, calcium carbonate, gypsum, and pumice. • Its largest companies are from Nicaragua, Mexico and Switzerland, among others. • Most production is sold to the local construction industry.

Golden Reign is advancing its vision of developing high-grade assets, enhancing shareholder value and being a positive contributor in the local communities. 2012 was a pivotal year, with the delivery of our first resource calculation. We fully expect that 2013 will witness the company’s continued growth and success.

Kim Evans President and CEO Golden Reign Resources Ltd.


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THE MINING SECTOR

Source: Ministry of Energy and Mines (MEM), January 2013.*1 square kilometer is equivalent to 100 hectares.

Calibre Mining Corp. continues to be extremely pleased to be working in Nicaragua and specifically in the Mining Triangle District on our 100% owned ground and with our two joint venture partners B2Gold Corp. and Alder Resources, and Calibre remains dedicated to responsible and sustainable work practices and to ensuring that all stakeholders and local communities benefit from our on-going efforts.

The exciting Primavera gold-copper porphyry discovery made by Calibre Mining Corp. and B2Gold Corp. is evidence of the excellent geological potential and prospect for further significant mineral discoveries in Nicaragua.

Greg SmithCEOCalibre Mining Corp.

Description Km2* % of the National Territory

Surface of protected areas 40,087.47 30.75

Metallic surface under concession 14,676.67 11.26

Non-metallic surface under concession 695.12 0.53

Surface requested for concession 22,741.52 17.44

Reserve mining area 3,326.24 2.55

Available surface 48,846.46 37.47

Nicaragua's total surface 130,373.48 100.00


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CONCESSIONS MAP


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Foreign Investment Promotion Law (Law 344)

Nicaragua has made important progress in the improvement of its investment climate over the years in an effort to continue to attract high-quality foreign direct investment. The main legislation governing foreign investment in the country is Law 344, which establishes a series of solid legal guarantees for foreign investors, such as:

• Full currency convertibility • Freedom to expatriate all capital and profits, dividends or earnings generated in national territory • No minimum or maximum amount established for investment • Accelerated depreciation of capital assets • Access to national loans through local banks, according to their terms and conditions for approval • Property protection and safety• Non-discriminatory treatment for foreign investors• Full international ownership

Bilateral Agreements for the Promotion and Reciprocal Protection of Investments

Nicaragua has signed 25 Bilateral Agreements for the Promotion and Reciprocal Protection of Investments, as part of the country’s investment promotion policy to ensure the establishment of foreign investment. Bilateral investment treaties set standards for the promotion and legal protection of foreign investments and investors, and all countries that have free trade agreements with Nicaragua also include bilateral treaties for the promotion and protection of investments.

Additionally, Nicaragua is a member of the International Center for Settlement of Investment Disputes (ICSID), the Multilateral Investment Guarantee Agency (MIGA), the Overseas Private Investment Corporation (OPIC), the Inter-American Convention of Commercial Arbitrage of Panama, as well as a signatory of the United Nations Commission on International Trade Law (UNCITRAL / New York Convention of 1958).

LEGAL FRAMEWORK

I have worked developing mining properties in Central and South America for nearly 20 years. Nicaragua is by far the best country I have worked in during all those years. In Nicaragua, as an investor you have access to government decision makers, rules are clearly stated, there is a pro-mining attitude, the workforce is excellent and best of all there are numerous opportunities. As a private company, this investment security has allowed us to expand into other areas of exceptional opportunities outside of mining including forestry, power generation and agriculture.

Randy MartinFounderHemco


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Special Law for the Exploration and Exploitation of Mines (Law 387) and its bylaws in Decree No. 119-2001

A mining concession grants the holder exclusive rights to: - Exploration and exploitation of mineral deposits

present in the area (metallic and non-metallic). - Mineral processing plants.

• The area of the concession must be defined by a polygon with sides oriented in all directions (north, south, east and west) according to the Universal Transverse Mercator (UTM) system used in the topographic map, and coinciding with the grids of its coordinate system.

• The concession has a maximum area of 50,000 hectares and is granted for a period of 25 years, extendable for an additional 25 years.

• The initiation of mining activities must begin within four years from when the concession is granted.

Payments to be made by mining concession holders:

• Superficial rights• Extraction rights or royalty (3 percent of the value of

extracted substances, a deductible income expense)• Income tax (30 percent)

Superficial rights (per hectare of concession):

Tax Incentives

Tax exemption for inputs, machinery and other effects apply as long as they are directly related to the activities of the mining concession.

LEGAL FRAMEWORK

Year Per Hectare

1 US$0.25

2 US$0.75

3 and 4 US$1.50

5 and 6 US$3.00

7 and 8 US$4.00

9 and 10 US$8.00

11+ US$12.00

B2Gold has been successfully operating mines and conducting exploration in Nicaragua since 2009. Nicaragua has become known to us as a safe, welcoming country that is friendly to mine investment and interested in promoting stable legal and labor conditions that are essential for mine operations. B2Gold has experienced good access to government agencies who have worked with us to ensure that our investment is rewarding for us, the communities we work in, and Nicaragua.

Clive Johnson President and CEO B2Gold Corp.


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Obligations of a mining concession holder:

• Concession title: Granted by the Ministry of Energy and Mines (MEM, for its acronym in Spanish).

• Environmental permit: Must be issued by Ministry of Environment and Natural Resources (MARENA, for its acronym in Spanish) before starting any exploration or exploitation activities.

• Authorization from the surface right (real estate) owner(s) where the specific mining activities will be developed.

• Superficial rights: The superficial rights tax is paid based on the number of hectares on the concession. It is a progressive tax over time (refer to chart on page 10).

• Extraction payment or royalty: 3 percent of the value of extracted substances, a deductible income expense.

• Monthly production report: The Ministry of Energy and Mines provides a format for this report.

• Annual report: The Ministry of Energy and Mines provides a format for this report.

• Social Responsibility: The Ministry of Energy and Mines promotes social investment in communities where projects are developed.

There has currently been stability for over 20 years. The Government has a solid and fair mining law. Concession areas are granted for 25 years, which provides certainty for large capital investments. The Ministry of Mines is accessible and actively encourages investment and expertise from overseas. This backdrop allows us to raise money from the London Stock Market to fund exploration in Nicaragua, where we have a 1.7m oz. gold resource at 5.2g/t.

Mark ChildCEOCondor Resources PLC

LEGAL FRAMEWORK


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Submission of application (10 working days to complete documentation)

Technical review of area availability (10 working days)

Technical monitoring report (15 working days)

Forward consultation to local governments or authorities

Issue of opinion and/or endorsement of the relevant local governments or authorities

(30 days for local governments and 45 for autonomous regions and councils)

Drafting of Concession Agreement by the Ministry of Energy and Mines

(5 working days)

Certification and Notification of Concession Agreement

(30 days to accept)

Ministerial Agreement signature (7 days)

Public Registry Inscription (30 days)

STEPS TO OBTAIN A MINING CONCESSION


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In our view Nicaragua is the best jurisdiction in Central America for a junior explorer to operate. Despite a long history of Canadian mining companies operating in Nicaragua, the country remains underexplored and highly perspective. The government is pro-mining and supportive of foreign investment and development within the mining industry. We look forward to advancing our project and working closely with the government and community in a way that benefits all stakeholders.

Alder Resources Ltd.


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The Nicaraguan Chamber of Mines (CAMINIC, for its acronym in Spanish) was founded in 1995. Its mission is to serve as a point of contact and support for its members, authorities and private associations in order to strengthen and further develop Nicaragua’s mining industry by fostering investments and compliance with national laws, bylaws and technical norms regulating the sector. It is an important liaison among the government, private sector and mining companies.

CAMINIC’s President is also Vice-President of the Superior Council of Private Enterprise (COSEP, for its acronym in Spanish) and a member of the following national commissions:

• Energy and Mines Commission • National Commission on Minimum Wage • National Labor Council • National Health and Safety Board

For more information, visit www.caminic.org.ni.

NICARAGUAN CHAMBER OF MINES


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OUR MEMBERSCompany name Website

Metallic Sector: Exploitation (Gold and Silver)

Desarrollo Minero de Nicaragua / B2Gold Corp. www.b2gold.com

Hemco Nicaragua, S.A. www.hemco.com.ni

Triton Minera, S.A. / B2Gold Corp. www.b2gold.com

Metallic Sector: Exploration (Gold and Silver)

ALR Nicaragua S.A. / Alder Resources Ltd. www.alderresources.ca

Calibre Mining Corp. www.calibremining.com

Condor Gold Plc. (UK) www.condorresourcesplc.com

Corazón Exploraciones S.A. / Corazón Gold Corp. www.corazongold.com

Fortress de Nicaragua S.A. / Cassius Ventures Ltd. www.cassiusventures.com

Gold Belt S.A. / Golden Reign Resources Ltd. www.goldenreignresources.com

Hemco Nicaragua, S.A. www.hemco.com.ni

Minerales de Nicaragua S.A. / Radius Gold Inc. www.radiusgold.com

Minerales Matuzalen S.A.

Vesubio Mining S.A.

Inversiones Ecológicas. Inecosa

Non-Metallic Sector

Agrenic S.A. www.agrenic.com

Arenas Nacionales S.A. www.grupoimisa.com

Calizas S.A. www.grupoimisa.com

Canteras S.A. www.grupoimisa.com

CEMEX Nicaragua S.A. www.cemexnicaragua.com

Holcim (Nicaragua) S.A. www.holcim.com.ni

Industrias Caleras del Sur S.A.

Inversiones Mineras S.A. www.grupoimisa.com

Pedrera San Sebastián S.A. www.pedrerasansebastian.com

Proinco S.A. www.proinco.com.ni

Áridos de la Penínzula. Apenisa

Inversiones Cofradía-Invercosa www.holcim.com.ni

Cooperative members

Cooperativa de Pequeños Mineros Copermin (Bonanza)

Cooperativa de Pequeños Mineros Minarbon (Bonanza)

Calero Mining and Construction-Caminco www.caminco-nic.com

Rodio Swissboring Nicaragua, S.A. www.rodio-swissboring.com

Canchi Perforaciones Nicaragua, S. A. www.canchi.biz

NICARAGUAN CHAMBER OF MINES

http://www.grupoimisa.com/


http://www.cemexnicaragua.com/

http://www.holcim.com.ni/


http://www.pedrerasansebastian.com/


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B2Gold Corp.

B2Gold Corp. is a Vancouver-based gold producer with three producing mines, two in Nicaragua and one in the Philippines, and a strong portfolio of development and exploration assets in Nicaragua, Colombia, Uruguay and Namibia. B2Gold was founded in 2007 by the former executive and management team of Bema Gold Corporation. Bema grew from a junior explorer to an international gold producer that was acquired by Kinross Gold Corporation through a Cdn$3.5 billion transaction in February 2007.

In addition to its near term production growth profile, B2Gold’s corporate objective is to build further shareholder value through the exploration and development of existing projects and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years. B2Gold trades on the Toronto Stock Exchange under the symbol “BTO”, on the OTCXQ under the symbol “BGLPF” and on the Namibian Stock Exchange under the symbol “B2G”. At B2Gold, we continue to recognize that responsible environmental stewardship and social responsibility are integral components of business in today’s world. We have recognized as corporate priorities, environmental management and the support of local communities, and we integrate environmental and social factors in the decision-making process for the Company and its subsidiaries. As we continue to develop and build on our existing exploration assets and pursue additional opportunities around the world, we will remain committed to maintaining the high standards of environmental stewardship and social responsibility that we have established.

www.b2gold.com

SOME OF THE PROJECTS

Alder Resources Ltd.

ALDER RESOURCES LTD (TSX-V: ALR), is a Toronto-based resource company focused on the past producing Rosita copper-gold-silver porphyry/skarn property in northeast Nicaragua, 275 km northeast of Managua. Through its Nicaraguan subsidiary, ALR Nicaragua SA, the company has carried out detailed exploration in the 3356.89 hectare Rosita D concession under option from Calibre Mining Corp.

Alder has delineated a National Instrument (“NI”) 43-101 compliant inferred resource estimate for stockpiles from previous operations that total 108.5 million lbs. Cu, 118,500 oz. Au and 2.35 million oz. Ag contained within 7.95 million tons. Diamond drilling at Santa Rita has intersected skarn-hosted Cu-Au-Ag mineralization along a 1.1 kilometer long northeast trend that includes 1.42% Cu, 0.18 g/t Au and 20.45 g/t Ag over 10 meters. In addition, a later, crosscutting epithermal gold zone returned a bonanza grade value of 29.54 g/t over 8 meters.

Exploration at a highly prospective porphyry target, Tipispan, four kilometers northeast of Santa Rita, has returned high grade trench values that include 5.21% Cu, 4.40 g/t Au, 144.01 g/t Ag, 2.42% Pb. and 0.67% Zn over 12.1 meters This mineralization is interpreted as a supergene Cu-oxide blanket overlying a copper porphyry system. Drilling by Calibre Mining in 2010 intersected 0.42% Cu and 7.00 g/t Ag over 50 meters within a longer intercept of 0.21% Cu and 3.49 g/t Ag over 117 meters. The footprint of the porphyry system at Tipispan is 250 meters by 250 meters and occurs to a vertical depth of 100 meters. The mineralization is open in all directions.

www.alderresources.ca


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Calibre Mining Corp.

Calibre Mining Corp. (TSX.V: CXB) is a Canadian-based exploration and mine development company with gold, silver and copper mineral exploration projects in the highly prolific Mining Triangle of northeastern Nicaragua. This area has historic production estimates of over 5 million ounces of gold, 4 million ounces of silver and 305 million pounds of copper. The 100% Calibre-owned Borosi concessions are located in this area, 230 kilometers northeast of Managua.

Investment Highlights; New Gold/Copper discovery at the Primavera Project with a discovery drill hole of 261.7m grading 0.78g/t Au and 0.30% Cu, on

ground within a Joint Venture with B2Gold Corp. Calibre and B2Gold continue an extensive exploration program on 322 km2 of concessions including Primavera with further drilling planned.

On the Rosita D. Project, Phase One exploration has included 8,000 meters of diamond drilling as well as extensive geochemical and geophysical surveying. An NI 43-101 Inferred Resource on the Rosita Stock Piles announced 7.95 Mt grading 0.46g/t Au, 9.20g/t Ag, and 0.62% Cu containing 118,000 ounces Au, 2.35M ounces Ag, and 108M lbs. Cu with additional targets outlined.

Calibre controls a 100% interest in 511.1km2 of prospective gold, silver and copper mineral titles within the Mining Triangle that include the Cerro Aeropuerto, La Luna and Riscos de Oro gold-silver deposits that host a combined NI43-101 Inferred resource at a 0.6 g/t AuEq cut-off of 10,750,000 tons grading 3.1g/t Au and 24.4g/t Ag containing 1,057,000 ounces Au, 8,430,000 ounces Ag (see Calibre website for details and NI 43-101 cautionary language).

www.calibremining.com

Caza Gold Corp.

Caza Gold Corp (The Company) is a public company listed on the TSX Venture Exchange (TSX. V: CZY), the Frankfurt Stock Exchange (FSE: CZ6), and the OTC-QX Stock Exchange in the United States (OTCQX: CZGDF) and is managed by experienced exploration and mining specialists with a proven success record in exploration, discovery, development, and production as well as business and financial professionals. The Company in active in Latin America and currently has exploration

projects in Nicaragua and Mexico. The Company has been publicity traded since November, 2010 and has obtained equity investments totaling approximately $ 12 million CDN though financial institutions and investors in Canada, the Unites State, Switzerland, Germany, Mexico, and the United Kingdom. The Company is currently completing an additional $3 million CDN financing for exploration activities in Nicaragua and Mexico and general administration. The Company has incorporated a Nicaragua subsidiary Nicaza S.A. and has 2 Mexican subsidiary companies Minera Caza S.A. de C.V.

The Company has a purchase option agreement with Inversiones Ecologicas S.A. (INECOSA) to acquire a 100% interest in INECOSA and all their Nicaraguan assets. INECOSA is managing all Nicaraguan exploration activities for The Company. The Company has provided INECOSA with 100% of its funding for exploration activities in Nicaragua since December 2010. The Company has directed its subsidiary companies and INECOSA to buy locally whenever possible and support local communities with employment. The Company requires its employees to show respect for the Nicaraguan people, their land, and their culture and to operate within the laws and customs of the countries where we work. We support the local communities, schools, and churches with physical and financial support for several activities. The Company considers a strong relationship with communities where we work to be critical to success.

www.cazagold.com



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Golden Reign Resources Ltd.

Golden Reign Resources Ltd. is a Canadian company (TSX-V: GRR) exploring the San Albino-Murra and El Jicaro concessions, located in Nueva Segovia, Nicaragua. The Company’s total land package comprises 138 km2 of highly prospective terrain.

Hundreds of historic mines and workings, including the high-grade San Albino Gold Deposit, are scattered throughout a 20 km long mineralized trend defined by Golden Reign as the Corona de Oro Gold Belt.

The San Albino Deposit consists of high-grade open-pittable and underground resources, with considerable potential for expansion.

Cut-off grade

(g/t AuEq)Classification Tones Au (g/t)

Au ounces

Ag (g/t)

Ag ounces

AuEq (g/t)

AuEq ounces

Open-pittable0.5 Indicated 247,000 9.00 71,000 10.8 86,000 9.18 73,000

0.5 Inferred 682,000 8.25 181,000 10.7 234,000 8.42 185,000

Underground1.5 Indicated 101,000 6.59 21,000 9.7 31,000 6.76 22,000

1.5 Inferred 2,689,000 7.00 605,000 10.6 912,000 7.17 620,000

Building upon the excellent results obtained to date, Golden Reign’s 2013 Exploration Program will:

• Increase open-pittable and overall resources at the San Albino Gold Deposit• Drill test four highly mineralized areas at Las Conchitas, which offer similar potential as the San Albino Gold Deposit• Expose an additional 30 highly mineralized gold structures within the Corona de Oro Gold Belt

www.goldenreignresources.com

Condor Gold Plc.

Condor Gold PLC is a UK based AIM listed exploration company focused on proving a large commercial reserve on its 100% owned La India Project in Nicaragua.

By December 30th, 2011, La India Project had a JORC Code Resource of 1,620,000 oz. gold at 5.6g/t. La India Project hosts a historic mine that produced 575,000 oz. gold prior to its closure in 1956, historic production was circa 40,000 oz. p.a. La India Project has circa 34,000m drilling and 12,000m trenching completed to date.

The corporate objective in 2012 is to increase the resource to 2m oz. gold and convert inferred resources to indicated and complete feasibility studies. Condor has a total resource of 1,707,000 oz. gold in Nicaragua. Condor has a JORC Code Resource of 1,004,000 oz. gold equivalent in El Salvador, but unfortunately there is a moratorium on all mining in that country. Condor’s management team has extensive experience in gold exploration and extraction, project development and project financing, ensuring that the company has the best possible opportunity to achieve exploration success and take La India Project through to a bankable feasibility study.

www.condorresourcesplc.com



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Hemco

With 55,000 ounces of gold produced in 2012, 67,000 ounces budgeted for 2013 and 75,000 ounces of gold forecasted for 2014, Hemco is the industry leader in the mining triangle district of Nicaragua.

Hemco is a company dedicated to developing the natural resources of Nicaragua. Hemco has 282,412 hectares of mining concessions; two operating hydroelectric plants, one under construction, plus two additional hydroelectric projects licensed, as well as, 2,500 hectares of commercial tree plantations. This places Hemco as one of the largest companies in Nicaragua and one of the 10th largest exporters in the country.

Hemco is committed to the comprehensive and sustainable development of the communities where it has presence. Its contributions have a positive and sustainable impact on the quality of life for its workers, residents and their families. Its mining, energy and forestry projects have played a pivotal role in the developing of the Caribbean Coast, allowing the company to have a positive impact in the country.

Hemco’s labor policy has created quality jobs with constant training for the more than 1,000 direct employees. The health and safety of its workers is Hemco’s highest priority. It provides and maintains a safe, healthy and positive working environment for its employees. Hemco strives to minimize its environmental footprint and safeguard the environment, now and for future generations of Nicaraguans. It seeks to continually improve its performance with a responsible environmental management.

www.hemco.com.ni


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