Val Antonio B. Suarez

Lepanto Consolidated Mining Company (Lepanto) is engaged in gold bullion production. The Company produces gold from its Victoria Project, which is located in Mankayan, Benguet. The Company operates through three segments: Mining Activities, Service and Others. The Company's Mining Activities segment is engaged in exploration and mining of gold, silver, copper, lead, zinc and various kinds of ores, metals, minerals, oil, gas and coal and their related by-products. The Company's Service segment is engaged in drilling, hauling and sawmilling services to its related and outside parties. Its Others segment is engaged in trading, manufacturing, investing and insurance broker activities of the Company. Lepanto has two mineral production sharing agreements (MPSAs), such as MPSA No. 001-90-CAR (over 948.9696 hectares) and MPSA No. 151-2000-CAR (over 1, 829.3565 hectares). It has around 46 mining claims with a total area of approximately 335.52 hectares, all situated in Mankayan, Benguet.