CVMR^®’s Mineral Resources

CVMR^® has title to nickeliferous mineral resources, mainly nickel laterite deposits, by direct ownership of the properties, exploration and development rights and long-term purchasing agreements with various suppliers of ores in different countries:

In the Philippines, CVMR^® owns concessions to six world-class nickel deposits, on the islands of Palawan and Samar. Field work has now been started, following the issue by the government of the Philippines to CVMR^® of exploration rights in Samar.

The properties are located at Narra, Quezon and Arborlan in the Province of Palawan, and at Balangiga, Giporlos and Quinapondan in the Province of Samar. These six locations are on ultramafic rock with high-grade saprolitic ores, which have been extensively explored since the 1970s. These regions currently ship ores to Australia and Japan.

CVMR^®’s long-term purchasing agreements for laterite ore in the Philippines are with suppliers in the Province of Zambales on the Santa Cruz ultramafic belt, Isabela Province, and on Dinagat Island.

CVMR^® also has a number of agreements with the governments of Malaysia and Indonesia for joint-venture development of three nickel laterite properties.

In China, two mines in the province of Jilin, located at Fujia and Daling, are owned and operated by Jilin Jien Nickel Industry Co. Ltd. since the 1960s.

In Turkey, Era Maden, a subsidiary of CVMR^®, is actively exploring two sites for nickel sulfide ores.

Exploration and studies are also being conducted by CVMR^® in Yemen, Saudi Arabia, Burundi and Botswana.

Aborlan, Palawan property; looking south-west	Giporlos, Samar property: Laterite exposure on top of the high fractured serpentinized peridotite	Quinapondan, Samar property: Laterite exposure 8 meters thick with soft Saprolite below the limonite and the oxidized host rock