The Marcona Copper Project is owned by Marcobre S.A.C. (“Marcobre”), a corporation existing under the laws of Peru. Chariot Resources Limited (the Corporation) indirectly owns 70% of the outstanding shares of Marcobre and Korea Resources Corporation and LS-Nikko Copper Inc. (together, the “Korean Partners”) indirectly own 30% of the outstanding shares of Marcobre. The Corporation and its Korean Partners have entered into a shareholders agreement with respect to the corporate governance of Marcobre and the ownership, development and operation of the Marcona Copper Project.

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