Pulacayo Project Feasibility Study - Apogee Silver

Pulacayo 1 000 t/d Phase I Feasibility Study - NI 43-101 Technical Report
090644-3-0000-20-IFI-100
Collins, Apogee President, and met with Apogee Exploration Manager, Mr. Hernán Uribe
Zeballos.
From 24 October to 26 October, TWP Sudamérica conducted a field visit to review the
underground workings, ventilation shafts, underground services and maintenance facilities to
obtain information in support of the underground mine engineering study.
Ryan Illingworth visited the Pulacayo site on the 13 th of April 2011.
2.4 Effective Dates
The effective date of this report is 17 January 2012.
There were no modifications on the processing route, engineering design, mine design,
capital and operating costs and financial model between the signature date of this report and
the publication of the Press Release announcing positive Feasibility Study results dated on
17 January 2013 titled: “Apogee Silver´s Pulacayo Project Demonstrates Positive Feasibility
Study Results”.
2.5 Information Sources and References
In addition to site visits undertaken to the Pulacayo Project in Bolivia, the authors of this
report have relied on information provided by Apogee, discussions with John Grewar
(Consulting Metallurgist) and a number of studies completed by other internationally
recognized independent consulting and engineering groups. The authors have made all
reasonable enquiries to establish the completeness and authenticity of the information
provided. TWP has also relied upon other experts. A full listing of the principal sources of
information is included in Section 27 of this report.
2.6 Previous Technical Reports
Apogee has previously filed the following technical reports for the Project as follows:
Technical Report on the Preliminary Assessment of the Pulacayo Project,
Pulacayo Township, Potosi District, Quijarro Province, Bolivia (Pressacco, R.,
Harris, G., Godard, M., Jacobs, C., Micon International Limited, 25 June 2010)
Revised Mineral Resource Estimate, Technical Report for the Pulacayo Ag-Pb-Zn
Deposit, Pulacayo Township, Potosí District, Quijaro Province, Bolivia (Webster,
P., Cullen, M., Mercator Geological Services Limited, 23 May 2012)
3 RELIANCE ON OTHER EXPERTS
The QPs state that they are qualified persons for those areas as identified in the appropriate
QP “Certificate of Qualified Person” attached to this Report. The authors have relied upon
and disclaim responsibility for information derived from the reports, opinions and statements
of other experts, most of whom are not qualified persons, pertaining to mineral concession
tenure, surface rights agreements, permitting, environmental, social impacts and political
issues. All reasonable endeavors have been made to ensure the accuracy and
TWP Sudamérica S.A. Av. Encalada 1257 Of. 801, Santiago de Surco Lima 33, Perú (51-1) 4377473
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