The Company produced approximately 14,169 ounces of gold and 282,429 ounces of silver in the first quarter of 2009, its first full quarter of pre-commercial operations. Pre-commercial production of gold and silver at the Company’s Dolores Mine in Mexico commenced in November 2008.
Metal production has continued to escalate as the Dolores Mine progresses to commercial production. Gold production increased to approximately 6,426 ounces in March 2009 from 5,089 ounces in February. Silver production increased to approximately 121,091 ounces in March 2009 from 111,010 ounces in February. With more than five months since the start of leaching operations, gold and silver recovery rates are exceeding expectations. Metal production is expected to continue to increase through the course of the second quarter as the volume of ore under leach and time under leach increases.