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|  JV Partner: Prophecy Platinum 1) $25,000 on signing the agreement and an additional 250,000 shares on approval of the TSX venture Exchange; during a due diligence phase Prophecy Platinum will complete a resource estimate followed by further payments as follows: a) $75,000 and 25,000 shares on or before April 1, 2012; b) $100,000 and 25,000 shares on or before April 1, 2013 c) $100,000 and 25,000 shares on or before April 1, 2014 Paficif Coast must incur $500,000 in exploration expenditures each year for the first two years and expenditures of $1,000,000 during the third year. Pacific Coast can earn an additional 11% (bringing the company's interest to 60%) by completing a pre-feasibility study and issuing 200,000 shares on or before April 1 2015 and then a further 10% (bringing the company's interest to 70%) by completing a feasibility study before April 15, 2016. If Marifil elects not to pay its 30% share of costs once Pacific Coast has earned its 70% interest, then Pacific Coast has the option of purchasing Marifil's 30% for $5,000,000. In such event, Marifil would retain a 3% NSR, of which a first 0.5% could be purchased for $1,000,000 and a second 0.5% could be purchased for $2,000,000, thereby reducing Marifil's NSR to 2.0%. Target Nickel-Copper-PGE in Layered Ultramafic Complex NI43 101 Report NI 43-101 Technical Report and Resource Estimate of the Las Aguilas Project, San Luis Province, Argentina (View PDF) Comments The ore targets include the Las Aguilas mine containing an historic ore reserve of 2.2 million tonnes grading 0.52% Ni, 0.50% Cu, 0.037% Co, and about 0.4 g/t PGE's (about 90% of PGE's are Pt). The layered ultramafic complex is perhaps ten kilometers wide and more than 100 km in length. Ore targets include massive sulfide deposits of Cu-Ni-Co and layered belts of PGE minerals. Business / Work Plan We expect to farm this project out within the next few months. Hectares 70,150
Maps & Photos
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