LOS FILOS

PROJECT SUMMARY

History | Employees

Site View of Los Filos

On 31 March 2005, Goldcorp completed the acquisition of El Bermejal deposit, located some two kilometres south of the Los Filos deposit. The Los Filos and El Bermejal deposits will be developed as a twin open pit-heap leach operation, with two different methods of ore processing. Higher grade ore from within the Los Filos deposit will be crushed to 19mm and agglomerated before being conveyor stacked and heap leached. Lower grade ore from Los Filos and El Bermejal deposits will be hauled from the open pit directly to the leach pad to be bulk heap leached. The recovered solution will be treated to produce a final gold doré product on site.

History

Most of the early exploration and mining activity in this area was focused on the neighboring Nukay claim prior to the discovery of the Los Filos Project in 1995.

The Los Filos area was only subject to sporadic prospecting through the twentieth century until Teck Corporation (“Teck”) became interested in the Nukay area in 1993. Teck completed an agreement (the “Nukay Agreement”) with Minera Miral S.A. de C.V. (“Minera Miral”) which was in the process of buying out the owners of Minera Nukay, S.A. de C.V. (“Minera Nukay”).  Minera Nuteck was formed by Teck to hold the Nuteck properties.

Minera Nuteck conducted a regional exploration and drilling campaign around the neighboring Nukay operations, focusing on the potential for mineralized skarns around the targets.  The discovery hole for the Los Filos deposit was drilled in August 1995.

Work in 1996 focused on the delineation of the Los Filos and Pedregal prospects which were subsequently found to be one continuous deposit.  In 1997, delineation drilling at Los Filos continued.  Scoping studies and metallurgical testwork were undertaken in the period between 1998 and 2002.

Employees

A total of 1,330 people comprise the Los Filos workforce, of whom 151 are staff, 462 hourly workers and 717 are contractors, employed by 17 contracting companies.