Bilbao Zinc Project and La Laguna Silver Project - Mexico

Status: Bilbao feasibility study underway                

In August 2007 PRRF entered into an agreement with AIM-listed Minco Plc to finance feasibility studies and development of the Bilbao Zinc Project and the Laguna Silver tailings recovery Project in Zacatecas, Mexico.  As a result of this transaction, these projects are now held by TSX-V listed Xtierra Inc.   

• Since our investment the Bilbao Indicated Resource has increased by 169% to 9.7Mt at 6.7% zinc equivalent and the Inferred Resource has increased by 68% to 4.0Mt at 4.9% zinc equivalent
• Bilbao’s feasibility study on schedule for completion during Q4, 2010