Resources Indicated
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz
Guanacevi	1,710,000	290	0.53	330	15,957,900	28,900	18,125,400
Guanajuato	288,000	202	1.60	322	1,872,700	14,800	2,982,700
Total Indicated	1,998,000	278	0.68	329	17,830,600	43,700	21,108,100
Resources Inferred
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz
Guanacevi	1,563,000	240	0.37	268	12,069,800	18,800	13,479,800
Guanajuato	782,000	229	2.00	379	5,751,000	50,300	9,523,500
Total Inferred	2,345,000	236	0.92	305	17,820,800	69,100	23,003,300
*Cut-off grade for Indicated & Inferred Resources for Guanacevi is 200g/t Ag for Porvenir and 100 g/t Ag for Alex Breccia, Santa Cruz, Porvenir Dos and Noche Buena. **Cut-off grade for Indicated & Inferred Resources for Guanajuato is 200 g/t Ag-Equivalent ***Silver-Equivalencies are calculated using a 75:1 ratio based on prices of USD $12 per ounce of silver and US$900 per ounce of gold, no base metal credits are used for calculating silver-Equivalencies.

Silver-Gold-Lead-Zinc Resources - Guanacevi
Resources Indicated
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz	Zn %	Pb %
Guanacevi	85,000	66	0.18	80	179,500	500	217,000	2.2	3.6
Total Indicated	85,000	66	0.18	79	179,500	500	217,000	2.2	3.6
Resources Inferred
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz	Zn %	Pb %
Guanacevi	260,000	72	0.15	83	604,300	1,300	701,800	2.1	3.4
Total Inferred	260,000	72	0.16	84	604,300	1,300	701,800	2.1	3.4
*Cut-off grade for Indicated & Inferred Resources for Guanacevi is 50 g/t Ag plus 3.5% combined Pb-Zn. **Silver-Equivalencies are calculated using a 75:1 ratio based on prices of USD$12 per ounce of silver and USD$900 per ounce of gold; no base metal credits are used for calculating silver-Equivalencies.

Silver-Gold-Lead-Zinc Resources - Cometa
Resources Indicated
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz	Zn %	Pb %
Cometa	934,000	49	1.46	159	1,471,400	43,800	4,756,400	3.2	3.2
Total Indicated	934,000	49	1.46	158	1,471,400	43,800	4,756,400	3.2	3.2
Resources Inferred
Description	Tonnes	Ag gpt	Au gpt	Ag-Eq gpt	Ag oz	Au oz	Ag-Eq oz	Zn %	Pb %
Cometa	528,000	61	1.45	170	1,035,500	24,600	2,880,500	3.0	2.7
Total Inferred	528,000	61	1.45	170	1,035,500	24,600	2,880,500	3.0	2.7
*Cut-off grade for Indicated & Inferred Resources for Cometa is USD$40 NSR based on metal prices of USD$12 per ounce of silver, USD$900 per ounce of gold, USD$0.50 per pound of lead, USD$0.50 per pound of zinc; metallurgical recoveries used were 71% for silver, 75% for gold, 80% for lead and 74% for zinc. **Silver-Equivalencies are calculated using a 75:1 ratio based prices USD$12 per ounce of silver and USD$900 per ounce of gold; no base metal credits are used for calculating silver-Equivalencies.