San Jose is a high-grade silver and gold bearing epithermal vein system that is being explored and developed under a joint venture where Fortuna is the operator. Current Mineral Resources, using a cut-off grade of 150 g/t Ag Eq., are: 17.7 M oz of Ag Eq. with 263 g/t Ag + 2.2 g/t Au in the Indicated/Measured category and 49.1 M oz of Ag Eq. with 261 g/t Ag + 2.6 g/t Au in the Inferred category. In 2007, approximately 27,000 meters were drilled in the Trinidad and San Ignacio zones. Management is accelerating San Jose’s development and is planning to commission a 1,500 to 2,000 tpd underground mine by the first quarter of 2010. Engineering design and environmental permitting are well underway. Main access ramp construction has begun and a pre-feasibility study is expected to be concluded by the end of 2008.

Management has extensive experience in exploration, mining and business development in Latin America. We are strongly committed to profitability, sustainable growth, high standards and best practices and the well being of workers, neighboring communities and the environment. During 2008, Management will be aggressively evaluating further accretive acquisition alternatives throughout Latin America.