----

| x | QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------|

|   | For the quarterly period ended January 31, 2013 |
|--------|-------------------------------------------------|

| o | TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _____ to _____ |
|---|---------------------------------------------------------------------------------------------------------------------------------|

----

| Nevada                                                         |   | N/A                                  |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                           |   |                                 |
| 3040 North Campbell Avenue #110Tucson, Arizona                 |   |  85719                          |
| (Address of principal executive offices)                       |   | (Zip Code)                           |
|                                                           |   |                                 |
| (520) 299-0390                                                 |   |                                 |
| (Registrant’s telephone number, including area code)     |   |                                 |

| Large accelerated filer                       | o      | Accelerated filer         | o |
|-----------------------------------------------|--------|---------------------------|---|
| Non-accelerated filer                         | o      | Smaller reporting company | x |
| (Do not check if a smaller reporting company) |   |                      |

----

| PART I – FINANCIAL INFORMATION |  3                                                                                     |     |
|--------------------------------------|---------------------------------------------------------------------------------------------|----------|
|                                 |                                                                                        |     |
| Item 1.                              | Financial Statements                                                                        |  3  |   |
| Item 2.                              | Management’s Discussion and Analysis of Financial Condition and Results of Operations |  25 |   |
| Item 3.                              | Quantitative and Qualitative Disclosures About Market Risk                                  |  37 |   |
| Item 4.                              | Controls and Procedures                                                                     |  37 |   |
|                                 |                                                                                        |     |   |
| PART II – OTHER INFORMATION    |  38                                                                                    |     |
|                                 |                                                                                        |     |
| Item 1.                              | Legal Proceedings                                                                           |  38 |   |
| Item 1A.                             | Risk Factors                                                                                |  38 |   |
| Item 2.                              | Unregistered Sales of Equity Securities and Use of Proceeds                                 |  38 |   |
| Item 3.                              | Defaults Upon Senior Securities                                                             |  39 |   |
| Item 4.                              | Mine Safety Disclosures                                                                     |  39 |   |
| Item 5.                              | Other Information                                                                           |  39 |   |
| Item 6.                              | Exhibits                                                                                    |  40 |   |

----

|                                                                                                                                                                                                                  | Page   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Interim Consolidated Balance Sheets as at January 31, 2013 (unaudited) and April 30, 2012 (audited)                                                                                                                   | 4      |
|                                                                                                                                                                                                                  |   |
| Interim Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended January 31, 2013 and January 31, 2012 and for the period from inception (April 20, 2004) to January 31, 2013 | 5      |
|                                                                                                                                                                                                                  |   |
| Interim Consolidated Statements of Cash Flows for the periods ended January 31, 2013 and January 31, 2012 and for the period from inception (April 20, 2004) to January 31, 2013                                 | 6      |
|                                                                                                                                                                                                                  |   |
| Interim Consolidated Statement of Stockholders’ Equity (Deficiency) for the period from inception (April 20, 2004) to January 31, 2013                                                                          | 7 - 8  |
|                                                                                                                                                                                                                  |   |
| Condensed Notes to the Interim Consolidated Financial Statements                                                                                                                                                      | 9      |

----

|                                                                                       |   | January 31,2013$ |            |   | April 30,2012$ |   |
|--------------------------------------------------------------------------------------------|--------|------------------|-----------------|--------|----------------|--------|
|                                                                                       |   |             |            |   |           |   |
| CURRENT ASSETS                                                                             |   |             |            |   |           |   |
| Cash                                                                                       |   |             | 6,535           |   |           |   | 9,181 |   |
| Other receivables                                                                          |   |             | 2,947           |   |           |   | 6,476 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Total Current Assets                                                                       |   |             | 9,482           |   |           |   | 15,657 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Mineral Properties                                                                         |   |             | 5               |   |           |   | 5 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| TOTAL ASSETS                                                                               |   |             | 9,487           |   |           |   | 15,662 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIENCY                                             |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Current Liabilities                                                                        |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Accounts payable and accrued liabilities                                                   |   |             | 1,372,908       |   |           |   | 717,280 |   |
| Promissory notes payable (Note 6 (a))                                                      |   |             | 226,171         |   |           |   | 224,649 |   |
| Convertible notes payable (Note 6 (b))                                                     |   |             | 129,389         |   |           |   | - |   |
| Liabilities payable in capital stock (Note  8)                                   |   |             | 1,600,000       |   |           |   | 1,600,000 |   |
| Due to related parties (Note 5)                                                            |   |             | 892,190         |   |           |   | 184,886 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Total Current Liabilities                                                                  |   |             | 4,220,658       |   |           |   | 2,726,815 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
|  Total Liabilities                                                                    |   |             |  4,220,658 |   |           |   | 2,726,815 |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Stockholders’ Deficiency                                                             |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
|  Capital stock (Note 7) 180,000,000 common shares authorized, $0.00001 par value |   |             |            |   |           |   |   |   |
|  59,869,325 shares issued and outstanding (April 30, 2012 – 57,645,991)         |   |             | 1,424           |   |           |   | 1,402 |   |
|  Additional paid-in capital                                                           |   |             | 22,154,369      |   |           |   | 21,820,891 |   |
|  Subscriptions received                                                               |   |             | -               |   |           |   | 333,500 |   |
|  Donated capital                                                                      |   |             | 34,500          |   |           |   | 34,500 |   |
|  Deficit accumulated during the exploration stage                                     |   |             | (26,401,464     | )      |           |   | (24,901,446 | ) |
|                                                                                       |   |             |            |   |           |   |   |   |
|                                                                                       |   |             |            |   |           |   |   |   |
| Total Stockholders’ Deficiency                                                       |   |             | (4,211,171      | )      |           |   | (2,711,153 | )  |
|                                                                                       |   |             |            |   |           |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY                                       |   |             | 9,487           |   |           |   | 15,662 |   |

----

|                                                                     |   | For the Three months Ended January 31, 2013 |       |   | For the Three months Ended January 31, 2012 |   |       | For theNine monthsEnded January 31, 2013 |   |   | For theNine monthsEnded January 31, 2012 |   |   | Cumulative since inception to January 31, 2013 |       |
|--------------------------------------------------------------------------|--------|---------------------------------------------|------------|--------|---------------------------------------------|--------|------------|------------------------------------------|--------|--------|------------------------------------------|--------|--------|------------------------------------------------|------------|
|                                                                     |   | $                                           |       |   | $                                           |   |       | $                                        |   |   | $                                        |   |   | $                                              |       |
| Expenses                                                                 |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|     Bad Debt                                         |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 136,250 |   |
|     Depreciation                                     |   |                                        | -          |   |                                        |   | 14,238     |                                     |   |   | -                                        |   |   |                                           | 42,714     |   |   |   | 371,800 |   |
|     Donated services                                 |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 25,500 |   |
|     Filing and transfer agent fees                   |   |                                        | 2,548      |   |                                        |   | 6,366      |                                     |   |   | 6,962                                    |   |   |                                           | 15,119     |   |   |   | 82,516 |   |
|     Impairment of mineral property costs             |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 10,756,203 |   |
|     Interest expense                                 |   |                                        | 13,397     |   |                                        |   | 12,998     |                                     |   |   | 39,702                                   |   |   |                                           | 52,622     |   |   |   | 401,050 |   |
|     Investor relations                               |   |                                        | -          |   |                                        |   | 4,526      |                                     |   |   | -                                        |   |   |                                           | 20,200     |   |   |   | 414,691 |   |
|     Management and administration fees               |   |                                        | 104,068    |   |                                        |   | 315,441    |                                     |   |   | 295,662                                  |   |   |                                           | 503,828    |   |   |   | 3,360,377 |   |
|     Mineral exploration costs (Note 4)               |   |                                        | 360,836    |   |                                        |   | 2,000,466  |                                     |   |   | 998,194                                  |   |   |                                           | 2,220,107  |   |   |   | 8,886,925 |   |
|     Office and general                               |   |                                        | 14,257     |   |                                        |   | 13,603     |                                     |   |   | 37,303                                   |   |   |                                           | 41,593     |   |   |   | 843,960 |   |
|     Professional fees                                |   |                                        | 21,220     |   |                                        |   | 69,119     |                                     |   |   | 57,805                                   |   |   |                                           | 149,899    |   |   |   | 894,664 |   |
|     Salaries and consulting fees                     |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | 450,000    |   |   |   | 450,000 |   |
|                                                                     |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|                                                                     |   |                                        | (516,326   | )      |                                        |   | (2,436,757 | )                                        |   |   | (1,435,628                               | )      |   |                                           | (3,496,082 | ) |   |   | (26,623,936 | ) |
| Other income (loss)                                                      |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|     Federal income tax recovery                      |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 216,208 |   |
|     Gain on sale of fixed assets                     |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 23,891 |   |
|     Derivative Gain (Loss) (Note 6)                  |   |                                        | (64,390    | )      |                                        |   | -          |                                     |   |   | (64,390                                  | )      |   |                                           | (9,415     | ) |   |   | (64,287 | ) |
|     Extinguishment Loss on Debt  Modification   |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | (126,875 | ) |
|     Gain on Debt Settlement                          |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 130,093 |   |
|     Impairment of Equipment                          |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | (24,604 | ) |
|     Interest income                                  |   |                                        | -          |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 68,046 |   |
|                                                                     |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
| Net loss and comprehensive loss                                          |   |                                        | (580,716   | )      |                                        |   | (2,436,757 | )                                        |   |   | (1,500,018                               | )      |   |                                           | (3,505,497 | ) |   |   | (26,401,464 | ) |
|                                                                     |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
| Basic and diluted  loss per common share                       |   |                                        | (0.01      | )      |                                        |   | (0.05      | )                                        |   |   | (0.03                                    | )      |   |                                           | (0.08      | ) |   |   |   |   |
|                                                                     |   |                                        |       |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
| Weighted average number of common shares outstanding - basic and diluted |   |                                        | 59,869,325 |   |                                        |   | 53,614,761 |                                     |   |   | 59,509,917                               |   |   |                                           | 43,775,215 |   |   |   |   |   |

----

|                                                                                                                                       |   | For the Nine MonthsEnded January 31,2013$ |       |   | For the Nine MonthsEnded January 31, 2012$ |   |       | FromApril 20, 2004(Date of Inception)to January 31, 2013$ |   |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|------------|--------|--------------------------------------------|--------|------------|-----------------------------------------------------------|--------|
| Cash Flows Used In Operating Activities                                                                                                    |   |                                      |       |   |                                       |   |       |                                                      |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |
| Net loss                                                                                                                                   |   |                                      | (1,500,018 | )      |                                       |   | (3,505,497 | )                                                         |   |   | (26,401,464 | ) |
| Adjustments to reconcile net loss to cash used in operating activities:                                                                    |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
|    Financing costs                                                                                                          |   |                                      | 5,000      |   |                                       |   | -          |                                                      |   |   | 5,000 |   |
|    Impairment of equipment                                                                                                  |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 24,604 |   |
|    Federal income tax recovery                                                                                              |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (216,208 | ) |
|    Extinguishment loss on debt modification                                                                                 |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 126,875 |   |
|    Adjustment to fair value of derivative instruments                                                                       |   |                                      | 64,390     |   |                                       |   | 9,415      |                                                      |   |   | 64,287 |   |
|    Amortization of debt discount                                                                                            |   |                                      | -          |   |                                       |   | 12,146     |                                                      |   |   | 13,837 |   |
|    Depreciation                                                                                                             |   |                                      | -          |   |                                       |   | 42,714     |                                                      |   |   | 371,800 |   |
|    Non-cash management fees                                                                                                 |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 429,293 |   |
|    Accrued interest income                                                                                                  |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (11,250 | ) |
|    Shares issued for services                                                                                               |   |                                      | -          |   |                                       |   | 450,000    |                                                      |   |   | 488,667 |   |
|    Gain on sale of fixed assets                                                                                             |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (23,891 | ) |
|    Accretion of interest on convertible note                                                                                |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 32,121 |   |
|    Bad debt                                                                                                                 |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 136,250 |   |
|    Impairment of mineral properties                                                                                         |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 10,756,203 |   |
|    Gain on debt settlement                                                                                                  |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (130,093 | ) |
|    Donated rent                                                                                                             |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 9,000 |   |
|    Donated services                                                                                                         |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 25,500 |   |
| Change in operating assets and liabilities:                                                                                                |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Decrease (increase) in other receivables                                                                                                   |   |                                      | 3,529      |   |                                       |   | 1,953      |                                                      |   |   | (2,947 | ) |
| Increase  in due to related parties                                                                                              |   |                                      | 730,903    |   |                                       |   | 417,909    |                                                      |   |   | 4,185,455 |   |
| Increase (decrease) in accounts payable and accrued liabilities                                                                            |   |                                      | 633,550    |   |                                       |   | 1,570,078  |                                                      |   |   | 3,642,327 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Net Cash Used in Operating Activities                                                                                                      |   |                                      | (62,646    | )      |                                       |   | (1,001,282 | )                                                         |   |   | (6,474,634 | ) |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Cash Flows Used In Investing Activities                                                                                                    |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
|       Purchase of equipment                                                                                  |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (518,513 | ) |
|       Proceeds from Sale of Equipment                                                                        |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 146,000 |   |
|       Loan receivable                                                                                        |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (125,000 | ) |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Net Cash Used In Investing Activities                                                                                                      |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | (497,513 | ) |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Cash Flows From Financing Activities                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
|               Promissory note payable                                |   |                                      | -          |   |                                       |   | -          |                                                      |   |   | 927,611 |   |
|       Convertible note                                                                                            |   |                                      | 60,000     |   |                                       |   | -          |                                                      |   |   | 302,500 |   |
|               Proceeds from common stock issuances and subscriptions |   |                                      | -          |   |                                       |   | 1,202,981  |                                                      |   |   | 5,748,571 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Net Cash From Financing Activities                                                                                                         |   |                                      | 60,000     |   |                                       |   | 1,202,981  |                                                      |   |   | 6,978,682 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Increase (Decrease) in Cash                                                                                                                |   |                                      | (2,646     | )      |                                       |   | 201,699    |                                                      |   |   | 6,535 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Cash – Beginning                                                                                                                     |   |                                      | 9,181      |   |                                       |   | 81,161     |                                                      |   |   | – |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Cash – Ending                                                                                                                        |   |                                      | 6,535      |   |                                       |   | 282,860    |                                                      |   |   | 6,535 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Supplemental Disclosures                                                                                                                   |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |
| Interest paid                                                                                                                              |   |                                      | –    |   |                                       |   | –    |                                                      |   |   | – |   |
| Income taxes paid                                                                                                                          |   |                                      | –    |   |                                       |   | –    |                                                      |   |   | – |   |
| Shares issued for services                                                                                                                 |   |                                      | -          |   |                                       |   | 450,000    |                                                      |   |   | 450,000 |   |
|                                                                                                                                       |   |                                      |       |   |                                       |   |       |                                                      |   |   |   |   |

----

|                                                             |   |         |       |   |    |   |   | AdditionalPaid-in |   |   | Common Stock Subscrip- |   |   | Deficit Accumulated During the Exploration |       |   | Don-ated |   |       |   |   |
|------------------------------------------------------------------|--------|--------------|------------|--------|---------|--------|--------|-------------------|--------|--------|------------------------|--------|--------|--------------------------------------------|------------|--------|----------|--------|------------|--------|--------|
|                                                             |   | Common Stock |       |   | Capital |   |   | tions             |   |   | Stage                  |   |   | Capital                                    |       |   | Total    |   |
|                                                             |   | #            |       |   | $       |   |   | $                 |   |   | $                      |   |   | $                                          |       |   | $        |   |       | $      |   |
| Balance – April 20, 2004 (Date of Inception)               |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | - |   |
| Issuance of common shares for cash  at $.0002/share    |   |         | 7,200,000  |   |    |   | 1,440  |              |   |   | (1,400                 | )      |   |                                       | (40        | )      |     |   | -          |   |   |   | - |   |   |   | - |   |
| Net loss for the period                                          |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (1,858     | )      |   |   | - |   |   |   | (1,858 | ) |
| Balance – April 30, 2004 - Audited                         |   |         | 7,200,000  |   |    |   | 1,440  |              |   |   | (1,400                 | )      |   |                                       | (40        | )      |     |   | (1,858     | )      |   |   | - |   |   |   | (1,858 | ) |
| Issuance of common shares for cash  at $.0002/share    |   |         | 1,800,000  |   |    |   | 360    |              |   |   | (350                   | )      |   |                                       | (10        | )      |     |   | -          |   |   |   | - |   |   |   | - |   |
| Share subscriptions received                                     |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | 40         |   |     |   | -          |   |   |   | - |   |   |   | 40 |   |
| Donated rent and services                                        |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | -          |   |   |   | 10,500 |   |   |   | 10,500 |   |
| Net loss for the year                                            |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (32,480    | )      |   |   | - |   |   |   | (32,480 | ) |
| Balance – April 30, 2005 – Audited                   |   |         | 9,000,000  |   |    |   | 1,800  |              |   |   | (1,750                 | )      |   |                                       | (10        | )      |     |   | (34,338    | )      |   |   | 10,500 |   |   |   | (23,798 | ) |
| Share subscriptions received                                     |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | 10         |   |     |   | -          |   |   |   | - |   |   |   | 10 |   |
| Donated rent and services                                        |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | -          |   |   |   | 12,000 |   |   |   | 12,000 |   |
| Net loss for the year                                            |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (12,690    | )      |   |   | - |   |   |   | (12,690 | ) |
| Balance – April 30, 2006 – Audited                   |   |         | 9,000,000  |   |    |   | 1,800  |              |   |   | (1,750                 | )      |   |                                       | -          |   |     |   | (47,028    | )      |   |   | 22,500 |   |   |   | (24,478 | ) |
| Issuance of common shares for cash at $0.0544/share              |   |         | 1,822,500  |   |    |   | 364    |              |   |   | 100,886                |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | 101,250 |   |
| Share subscriptions received                                     |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | 2,600,000  |   |     |   | -          |   |   |   | - |   |   |   | 2,600,000 |   |
| Donated rent and services                                        |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | -          |   |   |   | 12,000 |   |   |   | 12,000 |   |
| Net loss for the year                                            |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (220,450   | )      |   |   | - |   |   |   | (220,450 | ) |
| Balance – April 30, 2007 – Audited                   |   |         | 10,822,500 |   |    |   | 2,164  |              |   |   | 99,136                 |   |   |                                       | 2,600,000  |   |     |   | (267,478   | )      |   |   | 34,500 |   |   |   | 2,468,322 |   |
| Shares and warrants issued for private placement at $25 per unit |   |         | 157,514    |   |    |   | 32     |              |   |   | 3,765,908              |   |   |                                       | (2,600,000 | )      |     |   | -          |   |   |   | - |   |   |   | 1,165,940 |   |
| Share cancellation                                               |   |         | (6,642,500 | )      |    |   | (1,328 | )                 |   |   | 1,328                  |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | - |   |
| Fair value of warrants issued for mineral properties             |   |         | -          |   |    |   | -      |              |   |   | 840,000                |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | 840,000 |   |
| Fair value of warrants issued for services                       |   |         | -          |   |    |   | -      |              |   |   | 209,293                |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | 209,293 |   |
| Net loss                                                         |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (3,539,499 | )      |   |   | - |   |   |   | ( 3,539,499 | ) |
| Balance – April 30, 2008 – Audited                   |   |         | 4,337,514  |   |    |   | 868    |              |   |   | 4,915,665              |   |   |                                       | -          |   |     |   | (3,806,977 | )      |   |   | 34,500 |   |   |   | 1,144,056 |   |
| Issuance of common shares for services                           |   |         | 7,500      |   |    |   | 1      |              |   |   | 119,999                |   |   |                                       | -          |   |     |   | -          |   |   |   | - |   |   |   | 120,000 |   |
| Net loss                                                         |   |         | -          |   |    |   | -      |              |   |   | -                      |   |   |                                       | -          |   |     |   | (3,391,459 | )      |   |   | - |   |   |   | (3,391,459 | ) |
| Balance – April 30, 2009 – Audited                   |   |         | 4,345,014  |   |    |   | 869    |              |   |   | 5,035,664              |   |   |                                       | -          |   |     |   | (7,198,436 | )      |   |   | 34,500 |   |   |   | (2,127,403 | ) |

----

| Shares issued in exchange for retirement of notes and other debt     |   |   | 4,366,522  |   |   |   | 45     |   |   |   | 1,746,563  |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 1,746,608   |   |
|----------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|------------|--------|--------|--------|----------|--------|--------|--------|-------------|--------|--------|--------|--------|--------|--------|--------|-------------|--------|
| Shares issued for private placement at $0.50 per unit                |   |   | 290,000    |   |   |   | 3      |   |   |   | 134,847    |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 134,850     |   |
| Shares issued for mineral properties at $.50                         |   |   | 19,400,000 |   |   |   | 193    |   |   |   | 9,699,807  |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 9,700,000   |   |
| Net loss                                                             |   |   | -          |   |   |   | -      |   |   |   | -          |   |   |   | -        |   |   |   | (11,617,028 | )      |   |   | -      |   |   |   | (11,617,028 | )      |
| Balance – April 30, 2010 – Audited                       |   |   | 28,401,536 |   |   |   | 1,110  |   |   |   | 16,616,881 |   |   |   | -        |   |   |   | (18,815,464 | )      |   |   | 34,500 |   |   |   | (2,162,973  | )      |
| Issuance of common shares for services                               |   |   | 250,000    |   |   |   | 2      |   |   |   | 99,998     |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 100,000     |   |
| Shares issued in exchange for retirement of notes and other debt     |   |   | 7,094,572  |   |   |   | 71     |   |   |   | 1,915,463  |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 1,915,534   |   |
| Loss on settlement of related party debt                             |   |   |       |   |   |   |   |   |   |   | (1,125     | )      |   |   |     |   |   |   | -           |   |   |   | -      |   |   |   | (1,125      | )      |
| Modification of convertible note                                     |   |   | -          |   |   |   | -      |   |   |   | 126,875    |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 126,875     |   |
| Shares issued for private placement at $0.20 per unit                |   |   | 1,225,000  |   |   |   | 12     |   |   |   | 244,988    |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 245,000     |   |
| Net loss                                                             |   |   | -          |   |   |   | -      |   |   |   | -          |   |   |   | -        |   |   |   | (1,993,389  | )      |   |   | -      |   |   |   | (1,993,389  | )      |
| Balance – April 30, 2011 – Audited                       |   |   | 36,971,108 |   |   |   | 1,195  |   |   |   | 19,003,080 |   |   |   |     |   |   |   | (20,808,853 | )      |   |   | 34,500 |   |   |   | (1,770,078  | )      |
| Convertible note converted to shares                                 |   |   | 1,067,312  |   |   |   | 11     |   |   |   | 70,623     |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 70,634      |   |
| Shares issued to officers as compensation                            |   |   | 5,000,000  |   |   |   | 50     |   |   |   | 449,950    |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 450,000     |   |
| Gain on stock issued on related party debt settlements (Note 8) |   |   |       |   |   |   |   |   |   |   | 436,425    |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 436,425     |   |
| Shares issued in exchange for retirement of notes and other debt     |   |   | 6,543,114  |   |   |   | 66     |   |   |   | 654,245    |   |   |   |     |   |   |   | -           |   |   |   | -      |   |   |   | 654,311     |   |
| Issuance of common shares for services                               |   |   | 198,041    |   |   |   | 2      |   |   |   | 38,665     |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 38,667      |   |
| Shares issued for private placement at $0.15 per unit                |   |   | 7,866,666  |   |   |   | 78     |   |   |   | 1,167,903  |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | 1,167,981   |   |
| Share subscriptions received                                         |   |   |       |   |   |   |   |   |   |   |       |   |   |   | 333,500  |   |   |   |        |   |   |   |   |   |   |   | 333,500     |   |
| Shares cancelled                                                     |   |   | (250       | )      |   |   | -      |   |   |   | -          |   |   |   | -        |   |   |   | -           |   |   |   | -      |   |   |   | -           |   |
| Net loss                                                             |   |   | -          |   |   |   | -      |   |   |   | -          |   |   |   | -        |   |   |   | (4,092,593  | )      |   |   | -      |   |   |   | (4,092,593  | )      |
| Balance – April  30, 2012 – Audited            |   |   | 57,645,991 |   |   |   | 1,402  |   |   |   | 21,820,891 |   |   |   | 333,500  |   |   |   | (24,901,446 | )      |   |   | 34,500 |   |   |   | (2,711,153  | )      |
| Shares issued in a private placement at $0.15 per share              |   |   | 2,223,334  |   |   |   | 22     |   |   |   | 333,478    |   |   |   | (333,500 | )      |   |   | -           |   |   |   | -      |   |   |   | -           |   |
| Net loss                                                             |   |   | -          |   |   |   | -      |   |   |   | -          |   |   |   | -        |   |   |   | (1,500,018  | )      |   |   | -      |   |   |   | (1,500,018  | )      |
| Balance – January  31, 2013 - Unaudited              |   |   | 59,869,325 |   |   |   | 1,424  |   |   |   | 22,154,369 |   |   |   | -        |   |   |   | (26,401,464 | )      |   |   | 34,500 |   |   |   | (4,211,171  | )      |

----

| 1.  | Nature of Operations and Basis of Consolidation |
|----------|-------------------------------------------------|

----

| 2.  | Going Concern |
|----------|---------------|

| 3.  | Summary of Significant Accounting Policies |
|----------|--------------------------------------------|

----

| 3.  | Summary of Significant Accounting Policies - continued |
|----------|--------------------------------------------------------|

----

| 3.  | Summary of Significant Accounting Policies - continued |
|----------|--------------------------------------------------------|

----

| 3.  | Summary of Significant Accounting Policies continued |
|----------|------------------------------------------------------|

| 4.  | Mineral Properties |
|----------|--------------------|

|                                       |   | Nine months ended January 31, 2013 |    |   | Nine months ended January 31, 2012 |   |
|--------------------------------------------|--------|------------------------------------|---------|--------|------------------------------------|--------|
| Chile                                      |   |                               |    |   |                               |   |
|  Field supplies                       |   |                               | 3,757   |   |                               |   | 3,544 |   |
|  Geological, mapping and survey       |   |                               | 58,818  |   |                               |   |       95,918 |   |
|  Property maintenance                 |   |                               | 10,164  |   |                               |   | 2,481 |   |
|  Site administration                  |   |                               | 97,679  |   |                               |   | 270,413 |   |
|  Travel                               |   |                               | 16,345  |   |                               |   | 52,185 |   |
|                                       |   |                               | 186,763 |   |                               |   | 424,541 |   |
| Peru                                       |   |                               |    |   |                               |   |   |   |
|  Environmental studies and permitting |   |                               | 32,050  |   |                               |   | - |   |
|  Field supplies                       |   |                               | 16,556  |   |                               |   | 16,677 |   |
|  Geological, mapping and survey       |   |                               | 233,961 |   |                               |   | 122,639 |   |
|  Property maintenance                 |   |                               | 6,766   |   |                               |   | 837 |   |
|  Site administration                  |   |                               | 430,958 |   |                               |   | 1,624,010 |   |
|  Travel                               |   |                               | 91,140  |   |                               |   | 31,403 |   |
|                                       |   |                               | 811,431 |   |                               |   | 1,795,566 |   |
|                                       |   |                               |    |   |                               |   |   |   |
| Total                                      |   | $                                  | 998,194 |   |                               | $      | 2,220,107 |   |

----

| 5.  | Related Party Transactions |
|----------|----------------------------|

----

| 6.  | Convertible and Promissory Notes |
|----------|----------------------------------|

|   | (a) | PROMISSORY NOTES PAYABLE |
|--------|-----|--------------------------|

|   | (b) | CONVERTIBLE NOTES PAYABLE |
|--------|-----|---------------------------|

| Convertible Notes                                                   |   | January 31, 2013 |     |
|---------------------------------------------------------------------|--------|------------------|----------|
| $  37,500 face value convertible note due August 15, 2013 |   | $                | (73,761  | ) |
| $  27,500 face value convertible note due October 2, 2013 |   |             | (55,628  | ) |
|                                                                |   | $                | (129,389 | ) |

----

| 6.  | Convertible and Promissory Notes – continued |
|----------|----------------------------------------------------|

|   | (b) | CONVERTIBLE NOTES PAYABLE - continued |
|--------|-----|---------------------------------------|

----

| 6.  | Convertible and Promissory Notes – continued |
|----------|----------------------------------------------------|

|   | (b) | CONVERTIBLE NOTES PAYABLE - continued |
|--------|-----|--------------------------------------------|

| Convertible Notes            |   | $37,500 Face Value |    |   | $27,500 Face Value |   |
|------------------------------|--------|--------------------|---------|--------|--------------------|--------|
| Proceeds                     |   | $                  | (35,000 | )      |               | $      | (25,000 | ) |
| Convertible promissory notes |   |               | 84,147  |   |               |   | 59,037 |   |
| Financing costs expense      |   |               | (2,500  | )      |               |   | (2,500 | ) |
| Day-one derivative loss      |   |               | (46,647 | )      |               |   | (31,537 | ) |

|                                                                |   | January 31, 2013 |      |
|---------------------------------------------------------------------|--------|------------------|-----------|
| The financings giving rise to derivative financial instruments      |   | IndexedShares    |      |   | FairValues |   |
| $  37,500 face value convertible note due August 15, 2013 |   |             | 1,053,371 |   |   | $ | (73,761 | ) |
| $  27,500 face value convertible note due October 2, 2013 |   |             | 772,472   |   |   |   | (55,628 | ) |
|                                                                |   |             | 1,825,843 |   |   | $ | (129,389 | ) |

| The financings giving rise to derivative financial instruments and the income effects: |   | Three and Nine Months EndedJanuary 31, 2013 |    |
|----------------------------------------------------------------------------------------|--------|---------------------------------------------|---------|
| $  37,500 face value convertible note due August 15, 2013                    |   | $                                           | 10,386  |   |
| $  27,500 face value convertible note due October 2, 2013                    |   |                                        | 3,408   |   |
|                                                                                   |   |                                        | 13,794  |   |
| Day-one derivative loss:                                                               |   |                                        |    |   |
| $  37,500 face value convertible note due August 15, 2013                    |   |                                        | (46,647 | ) |
| $  27,500 face value convertible note due October 2, 2013                    |   |                                        | (31,537 | ) |
| Total gain (loss)                                                                      |   | $                                           | (64,390 | ) |

----

| 7.  | Capital Stock |
|----------|---------------|

|   | a) | Common Stock |
|--------|----|--------------|

|   | On May 29, 2012, the Company issued 1,943,334 shares of the Company’s common stock under a private placement at a price of $0.15 per share for gross proceeds of $291,500 which were previously received as subscriptions. Each unit consists of one share of common stock and one half common stock share purchase warrant. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On September 30, 2012, the Company issued 280,000 shares of the Company’s common stock under a private placement at a price of $0.15 per share for gross proceeds of $42,000 which were previously received as subscriptions. Each unit consists of one share of common stock and one half common stock share purchase warrant. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b)  | Warrants: |
|--------|----------|-----------|

|   | On May 29, 2012 and in connection with a private placement, the Company issued 971,668 warrants to purchase common shares at a price of $0.25 until 24 months following the issue date. The fair value of these warrants at the date of grant of $72,975 was estimated using the Black-Scholes option pricing model with an expected life of 2 years, a risk free interest rate of 0.27%, a dividend yield of 0%, and an expected volatility of 128.09%.On September 17, 2012 and in connection with a private placement, the Company issued 140,000 warrants to purchase common shares at a price of $0.25 until 24 months following the issue date.  The fair value of these warrants at the date of grant of $7,816 was estimated using the Black-Scholes option pricing model with an expected life of 2 years, a risk free interest rate of 0.27%, a dividend yield of 0%, and an expected volatility of 119.90%.Warrant transactions are summarized as follows: |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                 |   | Number of Warrants |      |    | Weighted Average Exercise Price per Share ($) |   | Weighted Average Contractual Life Remaining (in Years) |
|---------------------------|--------|--------------------|-----------|---------|-----------------------------------------------|--------|--------------------------------------------------------|
| Balance, April 30, 2007   |   |               | -         |    |                                          |   | -                                                      |   | - |
| Granted during the year   |   |               | 436,060   |    |                                          |   | 21.37                                                  |   | 2.00 |
| Balance, April 30, 2008   |   |               | 436,060   |    |                                          |   | 21.37                                                  |   | 1.22 |
| Granted during the year   |   |               | -         |    |                                          |   | -                                                      |   | - |
| Balance, April 30, 2009   |   |               | 436,060   |    |                                          |   | 21.37                                                  |   | 0.22 |
| Granted during the year   |   |               | 306,800   |    |                                          |   | .75                                                    |   | 1.58 |
| Expired during the year   |   |               | (436,060  | )       |                                          |   | 14.00                                                  |   | - |
| Balance, April 30, 2010   |   |               | 306,800   |    |                                          |   | .75                                                    |   | 0.50 |
| Granted during the year   |   |               | 1,225,000 |    |                                          |   | .30                                                    |   | 2.00 |
| Balance, April 30, 2011   |   |               | 1,531,800 |    |                                          |   | .39                                                    |   | 1.25 |
| Granted during the period |   |               | 4,013,333 |    |                                          |   | .25                                                    |   | 1.9 |
| Expired during the period |   |               | (306,800  | )  |                                          |   | .75                                                    |   | - |
| Balance, April 30, 2012   |   |               | 5,238,333 |    |                                          |   | .26                                                    |   | 1.5 |
| Granted during the period |   |               | 1,111,668 |    |                                          |   | .25                                                    |   | 1.4 |
| Balance, January 31, 2013 |   |               | 6,350,001 |    |                                          |   | .26                                                    |   | 0.8 |

|   | c)  | Share options: |
|--------|----------|----------------|

|   | On February 7, 2008, the Company adopted a stock option plan (the “2008 Stock Incentive Plan”) including both qualified and non-qualified share options not to exceed 15% of the issued and outstanding shares at any date.  No share options have been granted at the date of these financial statements. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8.  | Commitments and Contingencies |
|----------|-------------------------------|

----

| 8.  | Commitments and Contingencies - continued |
|----------|-------------------------------------------|

|   | 1. | Earn-In Requirement. To earn the 70% interest, LDC must commence, pay for and complete qualifying Earn-In Expenditures totaling at least five hundred thousand dollars (US$500,000) within one (1) year of the date of the LOI (“Earn-In Term”). Earn-In Expenditures are defined as all the costs and expenses to complete an initial exploration, drilling, sampling and metallurgical testing program as set forth in the LOI (the “Initial Exploration Program”), and include, in addition, all tax payments and related costs of maintaining the mineral titles to Escondida during the Earn-In Term (“Holding Costs”) and payments for overhead expenses. Harold Gardner, a director of the Company and a principal within LDC, shall have oversight responsibility for the Initial Exploration Program, and LDC shall be the operator under the LOI. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Declaration of Earn-In. At any time prior to or at the end of the Earn-In Term, LDC can elect to give notice in writing to the Company that it has completed the Initial Exploration Program and has successfully incurred the Earn-in Expenditures for Escondida (the “Earn-In”). At such time, to the extent not previously done, LDC shall furnish the Company with copies of all reports, information and data developed during the Initial Exploration Program, and satisfactory evidence of the incurrence and payment of the Earn-In Expenditures, which the Company shall reasonably accept, and LDC shall be deemed to have earned an undivided 70% interest in Escondida. Upon reasonable request from LDC, the Company shall cause the transfer of this 70% interest to LDC, or, alternatively, 100% of the property to the Joint Venture described below. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Joint Venture and Joint Operating Agreement. At the time that Earn-In is achieved, the parties will form a Joint Venture and finalize and execute a Joint Operating Agreement (“JOA”) to govern their interests in Escondida, whereby LDC will be the Operator, and the parties shall fund their respective shares of expenses going forward. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8.  | Commitments and Contingencies - continued |
|----------|-------------------------------------------|

----

| 8.  | Commitments and Contingencies - continued |
|----------|-------------------------------------------|

| 9.  | Financial Instruments |
|----------|-----------------------|

|                             |   | January 31, 2013 |      |   | April 30,2012 |   |
|----------------------------------|--------|------------------|-----------|--------|---------------|--------|
|                             |   |             |      |   |          |   |
| Held for trading (i)             |   | $                | 6,535     |   |          |   | 9,181 |   |
| Other financial liabilities (ii) |   |             | 4,220,658 |   |          |   | 2,726,815 |   |

----

| 9.  | Financial Instruments - continued |
|----------|-----------------------------------|

|         |   | Level 1 |   |   | Level 2 |   |   | Level 3 |   |   | Total  |   |
|--------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|
|         |   |    |   |   |    |   |   |    |   |   |   |   |
| Cash         |   | $       | 6,535  |   |    |   | -      |    |   |   | -      |   |   |   | 6,535 |   |
| Total assets |   | $       | 6,535  |   |    |   | -      |    |   |   | -      |   |   |   | 6,535 |   |
|         |   |    |   |   |    |   |   |    |   |   |   |   |   |   |   |   |

| Accounts payable and accrued liabilities |   | $      | - |   |   |   | - |   |   |   | 1,372,908 |   |   |   | 1,372,908 |   |
|------------------------------------------|--------|--------|---|--------|--------|--------|---|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|
| Promissory notes payable                 |   |   | - |   |   |   | - |   |   |   | 226,171   |   |   |   | 226,171   |   |
| Convertible notes payable                |   |   | - |   |   |   | - |   |   |   | 129,389   |   |   |   | 129,389   |   |
| Derivative financial instruments         |   |   | - |   |   |   | - |   |   |   | 1,600,000 |   |   |   | 1,600,000 |   |
| Due to related parties                   |   |   | - |   |   |   | - |   |   |   | 892,190   |   |   |   | 892,190   |   |
| Total other financial liabilities        |   | $      | - |   |   |   | - |   |   |   | 4,220,658 |   |   |   | 4,220,658 |   |

|         |   | Level 1 |   |   | Level 2 |   |   | Level 3 |   |   | Total  |   |
|--------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|
|         |   |    |   |   |    |   |   |    |   |   |   |   |
| Cash         |   | $       | 9,181  |   |    |   | -      |    |   |   | -      |   |   |   | 9,181 |   |
| Total assets |   | $       | 9,181  |   |    |   | -      |    |   |   | -      |   |   |   | 9,181 |   |
|         |   |    |   |   |    |   |   |    |   |   |   |   |   |   |   |   |

| Accounts payable and accrued liabilities |   | $      | - |   |   |   | - |   |   |   | 717,280   |   |   |   | 717,280   |   |
|------------------------------------------|--------|--------|---|--------|--------|--------|---|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|
| Promissory notes payable                 |   |   | - |   |   |   | - |   |   |   | 24,649    |   |   |   | 24,649    |   |
| Promissory Notes payable                 |   |   | - |   |   |   | - |   |   |   | 200,000   |   |   |   | 200,000   |   |
| Derivative Financial Instruments         |   |   | - |   |   |   | - |   |   |   | 1,600,000 |   |   |   | 1,600,000 |   |
| Due to related parties                   |   |   | - |   |   |   | - |   |   |   | 184,886   |   |   |   | 184,886   |   |
| Total other financial liabilities        |   | $      | - |   |   |   | - |   |   |   | 2,726,815 |   |   |   | 2,726,815 |   |

| The financings giving rise to derivativefinancial instruments |   | $200,000 Face Value |   |
|---------------------------------------------------------------|--------|--------------------------|--------|
| Conversion price                                              |   | $                        | 5.24   |   |
| Equivalent volatility                                         |   |                     | 118.42 | % |
| Equivalent term (years)                                       |   |                     | 0.504  |   |
| Equivalent credit-risk adjusted yield                         |   |                     | 15.54  | % |
| Equivalent interest risk adjusted rate                        |   |                     | 5.84   | % |

----

|   | Level 1 valuations:  | Quoted prices in active markets for identical assets and liabilities                                                                                                                                                                                   |
|--------|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                      |                                                                                                                                                                                                                                                   |
|   | Level 2 valuations:       | Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs or significant value drivers are observable. |
|   |                      |                                                                                                                                                                                                                                                   |
|   | Level 3 valuations:  | Significant inputs to valuation model are unobservable.                                                                                                                                                                                                |

|                                 |   | January 31, 2013                         |   |
|--------------------------------------|--------|------------------------------------------|--------|
|                                 |   | Fair Value Measurements Using:           |   |   |   |   |
|                                 |   | Quoted Prices in Active Markets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |   | Assets (Liabilities) at Fair Value |   |
| Convertible Promissory Notes Payable |   | $                                        | -      |   |   | $ | - |   |   | $ | 129,389 |   |   | $ | 129,389 |   |

|                                            |   |                                               |     |
|-------------------------------------------------|--------|----------------------------------------------------|----------|
|                                            |   | Convertible Promissory Notesrecorded at Fair Value |     |
|                                            |   | January 31, 2013                                   |     |
| Beginning Balance                               |   | $                                                  | -        |   |
| Total gains or losses (realized or unrealized): |   |                                               |     |   |
| Included in earnings                            |   |                                               | (64,390  | ) |
| Convertible note issuances                      |   |                                               | (65,008  | ) |
| Ending Balance                                  |   | $                                                  | (129,389 | ) |
|                                            |   |                                               |     |   |

----

| Location             |   | Project               |   | Exploration Target          |   | Concession Hectares/Acres |   |
|----------------------|--------|-----------------------|--------|-----------------------------|--------|---------------------------|--------|
| Chile, South America |   | The Escondida Project |   | Gold, Platinum              |   | 2,600/6,425               |   |
| Chile, South America |   | Don Beno Project      |   | Gold, Copper                |   | 3,400/8,402               |   |
| Chile, South America |   | Sierra Fritis Project |   | Gold, Copper                |   | 2,400/5,931               |   |
| Chile, South America |   | Piedra Parada Project |   | Gold, platinum group metals |   | 3,600/8,895(1)(2)         |   |
| Peru, South America  |   | The Yura Project      |   | Gold                        |   | 7,200/17,792(3)           |   |
|                 |   |                  |   | Total Net Hectares/Acres:   |   | 19,200/47,444             |   |
|                 |   |                  |   |                        |   |                      |   |

| (1) | Gareste Limitada, the vendor at Piedra Parada, owned and conveyed to Zoro senior concession rights on over 2,100 hectares (5,189 acres), and also conveyed overstaked concessions on 1,500 additional hectares (3,706 acres) which are subject to the senior rights of a third party. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | All concessions at Piedra Parada owned by Zoro are subject to pre-existing contractual rights granted from Gareste to a third-party to extract and exploit lithium, light metals and commercial salts. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Zoro’s initial Yura Project interests are now subsumed within the Yura Agreement described below under “Mineral Property Acquisition Agreements,” whereby Zoro can earn up to a 75% indirect interest in the 7,200 hectare Yura District. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Activity                                |   | Description             |   | Total  |    |
|-----------------------------------------|--------|-------------------------|--------|--------|---------|
| Geology                                 |   |                    |   |   |    |
| Geologic Mapping                        |   | 60days @ $700/day       |   | $      | 42,500  |   |
| Structural Analysis                     |   | 10days @ $700/day       |   | $      | 7,000   |   |
| Landsat Imagery & thematic analysis |   | Est. $25,000            |   | $      | 25,000  |   |
|                                    |   |                    |   |   |    |   |
| Geochemistry                            |   |                    |   |   |    |   |
| Rock chip sampling                      |   | 45 days @ $500/day      |   | $      | 22,500  |   |
| Rock chip analyses                      |   | 15 smpls/day x 45 x $35 |   | $      | 23,625  |   |
|                                    |   |                    |   |   |    |   |
| Geophysical Surveys                     |   |                    |   |   |    |   |
| Aeromagnetic Survey                     |   | 15 days est. $35,000    |   |   | 35,000  |   |
| Radiometrics Survey                     |   | Est. $50,000            |   | $      | 50,000  |   |
| Ground magnetometry+report              |   | 20 days @ $ 700/day     |   | $      | 14,000  |   |
| SubTotal                                |   |                    |   | $      | 219,625 |   |
| Contingency @ 10%                       |   |                    |   |   | 21,962  |   |
| Phase 1 Total                           |   |                    |   | $      | 241,587 |   |

----

| Activity                        |   | Description                 |   | Total  |    |
|---------------------------------|--------|-----------------------------|--------|--------|---------|
| Drill Program                   |   |                        |   |   |    |
| Drill Mobilization Costs        |   |                        |   | $      | 25,000  |   |
| Core Drilling                   |   | 3000 m’s x $100/m     |   | $      | 300,000 |   |
|                            |   |                        |   |   |    |   |
| Geological & supervision    |   | 35 days @ $700              |   | $      | 24,500  |   |
| Analyses – rock           |   | 1500 samples at $35/sample  |   | $      | 52,500  |   |
|                            |   |                        |   |   |    |   |
| Support                         |   |                        |   |   |    |   |
| Misc. supplies & materials  |   | Estimate                    |   | $      | 5,000   |   |
| Food & Lodging, 2 personnel |   | Estimate 60 days @ $300/day |   | $      | 18,000  |   |
| Vehicles                        |   | Estimate 70 days @ $200/day |   | $      | 14,000  |   |
|                            |   | Subtotal                    |   | $      | 439,000 |   |
| Contingency @ 10%               |   |                        |   | $      | 43,900  |   |
| Total                           |   |                        |   | $      | 482,900 |   |

| Description         | Explanation                      | Mth 1  | Mth 2  | Mth 3  | Mth 4  | Mth5     | Mth 6  | SbTot  |
|---------------------|----------------------------------|--------|--------|--------|--------|----------|--------|--------|
| Personnel           |                             |   |   |   |   |     |   |   |
|                | Sr.Geol-2mos, $750/day           | 7500   | 7500   |   | 7500   |     |   | $      | 22,500 |
|                | Jr. Geol-4mos,$350/day           |   | 7000   | 7000   | 7000   |     |   | $      | 21,000 |
| Logistics           |                             |   |   |   |   |     |   |   |   |
|                | Food & Lodging est$25/day    | 250    | 1000   | 500    | 750    |     |   | $      | 2,500 |
|                | Travel-Sr. Geol expat            | 2000   |   |   |   |     |   | $      | 2,000 |
|                | Travel-Jr. Geol                  |   | 500    | 500    |   |     |   | $      | 1,000 |
|                | Vehicle-est $1500/mo             | 1500   | 1500   | 1500   | 1500   |     |   | $      | 6,000 |
| FieldActivities     |                             |   |   |   |   |     |   |   |   |
|                | Mapping- purch imagery est $2500 | 2500   |   |   |   |     |   | $      | 2,500 |
|                | Thin sections/Microprobe         |   |   | 2500   |   |     |   | $      | 2,500 |
|                | Trenching- excavator             |   | 10000  | 10000  |   |     |   | $      | 20,000 |
|                | Geochemistry-est 100smpls, $25ea |   |   | 1250   | 1250   |     |   | $      | 2,500 |
| Office&Analysis |                             |   |   |   |   |     |   |   |   |
|                | Computer entry & analysis    |   |   |   | 1,000  |     |   | $      | 1,000 |
|                | Report & Recommend-Sr Geol   |   |   |   | 1,000  |     |   | $      | 1,000 |
|                |                             |   |   |   |   |     |   |   |   |
|                |                             |   |   |   |   |     |   |   |   |
|                |                             |   |   |   |   |     |   |   |   |
|                |                             |   |   |   |   | Sbtot    |   | $      | 84,500 |
|                |                             |   |   |   |   | 10%cont  |   | $      | 8,450 |
|                |                             |   |   |   |   | Ph 1 Tot |   | $      | 92,950 |

----

| Description         | Explanation                           | Mth 1  | Mth 2  | Mth 3  | Mth 4  | Mth5     | Mth 6  | SbTot  |
|---------------------|---------------------------------------|--------|--------|--------|--------|----------|--------|--------|
| Personnel           |                                  |   |   |   |   |     |   |   |
|                | Sr.Geol-1/2mos, $750/day              |   |   |   |   | 3750     | 3750   | $      | 7,500 |
|                | Jr. Geol-1mos,$350/day                |   |   |   |   | 7000     |   | $      | 7,000 |
| Logistics           |                                  |   |   |   |   |     |   |   |   |
|                | Food & Lodging est$25/day         |   |   |   |   | 500      |   | $      | 500 |
|                | Travel-Sr. Geol expat                 |   |   |   |   | 2000     |   | $      | 2,000 |
|                | Travel-Jr. Geol                       |   |   |   |   | 500      |   | $      | 500 |
|                | Vehicle-est $1500/mo                  |   |   |   |   | 1500     | 1500   | $      | 3000 |
| FieldActivities     |                                  |   |   |   |   |     |   |   |   |
|                | Drilling – 2500m H core@ $125/m |   |   |   |   | 312500   |   | $      | 312,500 |
|                | Drill Geochem-2500smpls, $25ea        |   |   |   |   |     | 62,500 | $      | 62,500 |
|                |                                  |   |   |   |   |     |   |   |   |
| Office&Analysis |                                  |   |   |   |   |     | 1000   | $      | 1,000 |
|                | Computer entry & analysis         |   |   |   |   |     | 1000   | $      | 1,000 |
|                | Report & Recommend-Sr Geol        |   |   |   |   |     |   |   |   |
|                |                                  |   |   |   |   | Sbtot    |   | $      | 397,500 |
|                |                                  |   |   |   |   | 10% cont |   | $      | 39,750 |
|                |                                  |   |   |   |   | Ph 2 Tot |   | $      | 437,250 |
|                |                                  |   |   |   |   | Tot Prgm |   | $      | 530,200 |

|   | 1. | Earn-In Requirement. To earn the 70% interest, LDC must commence, pay for and complete qualifying Earn-In Expenditures totaling at least five hundred thousand dollars (US$500,000) within one (1) year of the date of the LOI ("Earn-In Term"). Earn-In Expenditures are defined as all the costs and expenses to complete an initial exploration, drilling, sampling and metallurgical testing program as set forth in the LOI (the "Initial Exploration Program"), and include, in addition, all tax payments and related costs of maintaining the mineral titles to Escondida during the Earn-In Term ("Holding Costs") and payments for overhead expenses. Harold Gardner, a director of our Company and a principal within LDC, shall have oversight responsibility for the Initial Exploration Program, and LDC shall be the operator under the LOI. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Declaration of Earn-In. At any time prior to or at the end of the Earn-In Term, LDC can elect to give notice in writing to the Company that it has completed the Initial Exploration Program and has successfully incurred the Earn-in Expenditures for Escondida (the "Earn-In"). At such time, to the extent not previously done, LDC shall furnish our Company with copies of all reports, information and data developed during the Initial Exploration Program, and satisfactory evidence of the incurrence and payment of the Earn-In Expenditures, which our Company shall reasonably accept, and LDC shall be deemed to have earned an undivided 70% interest in Escondida. Upon reasonable request from LDC, our Company shall cause the transfer of this 70% interest to LDC, or, alternatively, 100% of the property to the Joint Venture described below. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Joint Venture and Joint Operating Agreement. At the time that Earn-In is achieved, the parties will form a Joint Venture and finalize and execute a Joint Operating Agreement ("JOA") to govern their interests in Escondida, whereby LDC will be the Operator, and the parties shall fund their respective shares of expenses going forward. With Zoro’s consent, Llanos subsequently assigned its rights in the earn-in agreement to the Escondida Chile Joint Venture, a partnership between Llanos and the HEI Escondida Joint Venture. As at April 30, 2012, Escondida Chile was still in the process of conducting the exploration and drilling program with the results to be determined in the latter half of 2012. As at April 30, 2012, the parties have agreed to extend the agreement an additional 12 months. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Activity                                 |   | Description             |   | Total  |    |
|------------------------------------------|--------|-------------------------|--------|--------|---------|
| Geology                                  |   |                    |   |   |    |
| Geologic Mapping                         |   | 60days @ $700/day       |   | $      | 42,000  |   |
| Aerial photography detailed mapping      |   | 15days@$700/day         |   | $      | 10,500  |   |
| Landsite & thematic imagery analysis |   | Acq., analysis          |   | $      | 32,500  |   |
| Geochemistry                             |   |                    |   |   |    |   |
| collection                               |   | 2geos-120days@ $500     |   | $      | 60,000  |   |
| analysis                                 |   | 1500smpls@$50ea         |   | $      | 75,000  |   |
| Trenching & Roads                    |   |                    |   |   |    |   |
| Trenching                                |   | 30days@$125/hr          |   | $      | 30,000  |   |
| Roads                                    |   | 30days@$125/hr          |   | $      | 30,000  |   |
| Bulk Sample                              |   |                    |   |   |    |   |
| Collection                               |   | 500kg est               |   | $      | 2,500   |   |
| Analysis                                 |   | Mult testwork est       |   | $      | 15,000  |   |
| Logistics                                |   |                    |   |   |    |   |
| Vehicles                                 |   | Assume 3, 1500/mo*3     |   | $      | 13,500  |   |
| Food & Lodging                       |   | 90days, 2geos, $125/day |   | $      | 22,500  |   |
| Field Supplies                           |   | Estimate                |   | $      | 5,500   |   |
| Office- report & target defin.       |   | 15days@$700/day         |   | $      | 10,500  |   |
| Subtotal                                 |   |                    |   | $      | 349,500 |   |
| 10%contingency                           |   |                    |   | $      | 34,950  |   |
| Phase 1 total                            |   |                    |   | $      | 384,450 |   |

----

| Activity                        |   | Description                 |   | Total  |    |
|---------------------------------|--------|-----------------------------|--------|--------|---------|
| Drill Program                   |   |                        |   |   |    |
| Drill Mobilization Costs        |   |                        |   | $      | 25,000  |   |
| Core Drilling                   |   | 5000 m’s x $100/m     |   | $      | 500,000 |   |
|                            |   |                        |   |   |    |   |
| Geological & supervision    |   | 60 days @ $700              |   | $      | 42,000  |   |
| Analyses – rock           |   | 2,500 samples at $35/sample |   | $      | 87,500  |   |
|                            |   |                        |   |   |    |   |
| Support                         |   |                        |   |   |    |   |
| Misc. supplies & materials  |   | Estimate                    |   | $      | 5,000   |   |
| Food & Lodging, 2 personnel |   | Estimate 60 days @ $300/day |   | $      | 18,000  |   |
| Vehicles                        |   | Estimate 70 days @ $200/day |   | $      | 14,000  |   |
|                            |   | Subtotal                    |   | $      | 691,500 |   |
| Contingency @ 10%               |   |                        |   | $      | 69,150  |   |
| Total                           |   |                        |   | $      | 760,650 |   |

|                                                         |   | For the Three months Ended January 31, 2013 |     |   | For the Three months Ended January 31, 2012 |   |       | For theNine monthsEnded January 31, 2013 |   |   | For theNine monthsEnded January 31, 2012 |   |   | Cumulative since inception to January 31, 2013 |       |
|--------------------------------------------------------------|--------|---------------------------------------------|----------|--------|---------------------------------------------|--------|------------|------------------------------------------|--------|--------|------------------------------------------|--------|--------|------------------------------------------------|------------|
|                                                         |   | $                                           |     |   | $                                           |   |       | $                                        |   |   | $                                        |   |   | $                                              |       |
| Expenses                                                     |   |                                        |     |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|     Bad Debt                             |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 136,250 |   |
|     Depreciation                         |   |                                        | -        |   |                                        |   | 14,238     |                                     |   |   | -                                        |   |   |                                           | 42,714     |   |   |   | 371,800 |   |
|     Donated services                     |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 25,500 |   |
|     Filing and transfer agent fees       |   |                                        | 2,548    |   |                                        |   | 6,366      |                                     |   |   | 6,962                                    |   |   |                                           | 15,119     |   |   |   | 82,516 |   |
|     Impairment of mineral property costs |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 10,756,203 |   |
|     Interest expense                     |   |                                        | 13,397   |   |                                        |   | 12,998     |                                     |   |   | 39,702                                   |   |   |                                           | 52,622     |   |   |   | 401,050 |   |
|     Investor relations                   |   |                                        | -        |   |                                        |   | 4,526      |                                     |   |   | -                                        |   |   |                                           | 20,200     |   |   |   | 414,691 |   |
|     Management and administration fees   |   |                                        | 104,068  |   |                                        |   | 315,441    |                                     |   |   | 295,662                                  |   |   |                                           | 503,828    |   |   |   | 3,360,377 |   |
|     Mineral exploration costs (Note 3)   |   |                                        | 360,836  |   |                                        |   | 2,000,466  |                                     |   |   | 998,194                                  |   |   |                                           | 2,220,107  |   |   |   | 8,886,925 |   |
|     Office and general                   |   |                                        | 14,257   |   |                                        |   | 13,603     |                                     |   |   | 37,303                                   |   |   |                                           | 41,593     |   |   |   | 843,960 |   |
|     Professional fees                    |   |                                        | 21,220   |   |                                        |   | 69,119     |                                     |   |   | 57,805                                   |   |   |                                           | 149,899    |   |   |   | 894,664 |   |
|     Salaries and consulting fees         |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | 450,000    |   |   |   | 450,000 |   |
|                                                         |   |                                        |     |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|                                                         |   |                                        | (516,326 | )      |                                        |   | (2,436,757 | )                                        |   |   | (1,435,628                               | )      |   |                                           | (3,496,082 | ) |   |   | (26,623,936 | ) |
| Other income (loss)                                          |   |                                        |     |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
|     Federal income tax recovery          |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 216,208 |   |
|     Gain on sale of fixed assets         |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 23,891 |   |
|     Derivative Gain (Loss) (Note 6)      |   |                                        | (64,390  | )      |                                        |   | -          |                                     |   |   | (64,390                                  | )      |   |                                           | (9,415     | ) |   |   | (64,287 | ) |
| Extinguishment Loss on Debt  Modification          |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | (126,875 | ) |
|     Gain on Debt Settlement              |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 130,093 |   |
|     Impairment of Equipment              |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | (24,604 | ) |
|     Interest income                      |   |                                        | -        |   |                                        |   | -          |                                     |   |   | -                                        |   |   |                                           | -          |   |   |   | 68,046 |   |
|                                                         |   |                                        |     |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |
| Net loss and comprehensive loss                              |   |                                        | (580,716 | )      |                                        |   | (2,436,757 | )                                        |   |   | (1,500,018                               | )      |   |                                           | (3,505,497 | ) |   |   | (26,401,464 | ) |
|                                                         |   |                                        |     |   |                                        |   |       |                                     |   |   |                                     |   |   |                                           |       |   |   |   |   |   |

----

----

|   | (a) | approximately $720,000 in the aggregate for the Phase I exploration programs at each of the Don Beno, Escondida and Yura properties; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | approximately $1,000,000 for management and administration fees, professional fees, and other general expenses over the next twelve months. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| · | All of the rights, titles and interests to the Zoro Properties, Fortuna Properties, and related assets, and the balance of the properties in the Yura District, are being conveyed to Formacion Yura Exploracion S.A.C. (“Yura Exploracion”) |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | To earn an undivided 50% indirect interest in the Yura District, Zoro has the responsibility under the Yura Agreement to complete a minimum $5.0 million exploration program within 30 months |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Provided that the exploration program produces a minimum 600,000 ounce gold measured and indicated resource estimate at Yura, Zoro has the option to purchase an additional undivided 25% indirect interest in the Yura District for a minimum of $30 million |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| · | Minex has contributed or has caused to be contributed US$1.6 million for exploration, and concession and permitting maintenance expenses, and related overhead at the Zoro Properties |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Minex has absolved Zoro from the shares and monies otherwise payable to the Fortuna Vendors with respect to the acquisition of the Fortuna Properties totalling approximately 1,500 hectares of exploration concessions, which have now been contributed to the Yura Project |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Minex has agreed to use its best efforts to raise an additional $1.2 million for Zoro, to fund the first phase exploration programs on the consolidated Yura Project |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Zoro and Minex agreed that the value of the Minex contributions is US$3 million and Zoro has agreed to issue 18 million shares of its common stock to Minex or to those designated by Minex, subject to satisfying applicable securities law |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Minex shall have the right to appoint two members to Zoro’s Board of Directors |
|--------|--------------------------------------------------------------------------------------|

----

----

----

----

|  Exhibit No. | Document                                                                                                                                                                                                                                                                                                        |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1               | Articles of Incorporation (1)                                                                                                                                                                                                                                                                                   |
| 3.1.2             | Certificate of Change effective February 9, 2007 (2)                                                                                                                                                                                                                                                            |
| 3.1.3             | Articles of Merger effective March 19, 2007 (2)                                                                                                                                                                                                                                                                 |
| 3.1.4             | Certificate of Change effective April 22, 2009 (3)                                                                                                                                                                                                                                                              |
| 3.2               | Bylaws (1)                                                                                                                                                                                                                                                                                                      |
| 10.1              | Mineral Assets Option Agreement dated September 23, 2009 among each of Gareste Limitada, Twaine Assets SA, Agosto Corporation Limited, Yu Cui, Zhao Heng, Ye Bin, Sun Suzhuan, Chen Zou and Zoro Mining Corp. (4)                                                                                               |
| 10.2              | Asset Purchase Agreement dated February 22, 2010 between Zoro Mining Corp. and South American Inmobilaria S.A.C. and Donald Le Roy Stiles (5)                                                                                                                                                                   |
| 10.3              | Binding Letter of Intent for Participation in the Escondida Project dated March 31, 2011(6)                                                                                                                                                                                                                     |
| 10.4              | Settlement Agreement between the Company and Andrew Brodkey, dated August 15, 2009(8)                                                                                                                                                                                                                           |
| 10.5              | Settlement Agreement between the Company and Harold Gardner, dated August 15, 2009(8)                                                                                                                                                                                                                           |
| 10.6              | Settlement Agreement between the Company and Harold Gardner, dated August 15, 2009(8)                                                                                                                                                                                                                           |
| 10.7              | Settlement Agreement between the Company and Sage Associates Inc., dated August 15, 2009(8)                                                                                                                                                                                                                     |
| 10.8              | Settlement Agreement between the Company and Pro Business Trust, dated August 15, 2009(8)                                                                                                                                                                                                                       |
| 10.9              | Debt Assignment Agreement among the Company, Gareste Limitada, and Harold Gardner, dated August 17, 2009(8)                                                                                                                                                                                                     |
| 10.10             | Mineral Property Acquisition Agreement, dated for reference as fully executed on April 12, 2007, as entered into as entered between Zoro Mining Corp. and each of Eduardo Esteffan M., Fresia Sepulveda H., Eduardo Esteffan S., Gretchen Esteffan S., Claudio Esteffan S. and Integrity Capital Group, LLC (7) |
| 10.11             | Corporate Support Agreement between the Company and Sweetwater Capital Corp., dated May 1, 2007(8)                                                                                                                                                                                                              |
| 10.12             | Convertible Note in the principal amount of $200,000, dated November 7, 2008(8)                                                                                                                                                                                                                                 |
| 10.13             | Promissory Note between the Company and Sweetwater Capital, dated September 12, 2008(8)                                                                                                                                                                                                                         |
| 10.14             | Promissory Note between the Company and Woodburn Holdings Ltd., dated October 2, 2009(8)                                                                                                                                                                                                                        |
| 10.15             | Promissory Note from the Company to 1218716 Alberta Ltd., dated September 16, 2009(8)                                                                                                                                                                                                                           |
| 10.16             | Promissory Note between the Company and WestPeak Ventures of Canada Ltd., dated September 17, 2008(8)                                                                                                                                                                                                           |
| 10.17             | Promissory Note between the Company and Timothy Brock., dated November 28, 2008(8)                                                                                                                                                                                                                              |
| 10.18             | Advisory Services Agreement between the Company and Viewpoint Securities, LLC, dated January 8, 2010(8)                                                                                                                                                                                                         |
| 10.19             | Form of Restricted Stock Agreement, dated August 29, 2011(9)                                                                                                                                                                                                                                                    |
| 10.20             | Form of Settlement Agreement, dated October 11, 2011(9)                                                                                                                                                                                                                                                         |
| 10.21             | Binding Letter of Intent for Participation in Yebecahas Mineral Concessions, dated September 27, 2011(10)                                                                                                                                                                                                       |
| 10.22             | Agreement between the Company and Minex Ventures II, LLC, dated September 27, 2011(10)                                                                                                                                                                                                                          |
| 10.23             | Consulting Agreement between the Company and Minex Ventures II, LLC, dated December 22, 2011, but having an effective date of September 26, 2011(10)                                                                                                                                                            |
| 10.24             | Amendment Agreement between the Company and Minex Ventures II, LLC, dated March 15, 2012(10)                                                                                                                                                                                                                    |
| 10.25             | Form of Subscription Agreement                                                                                                                                                                                                                                                                                  |
| 10.26             | Form of Warrant Certificate                                                                                                                                                                                                                                                                                     |
| 10.27             | Securities Purchase Agreement between Zoro Mining Corp. and _____________, dated November 13, 2012                                                                                                                                                                                                              |
| 10.28             | Convertible Promissory Note, dated November 13, 2012.                                                                                                                                                                                                                                                           |
| 31.1              | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act.*                                                                                                                                                                                               |
| 31.2              | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act.*                                                                                                                                                                                               |
| 32.1              | Certification of Chief Executive Officer and Chief Financial Officer Under Section 1350 as Adopted Pursuant to Section 906 of the Securities Exchange Act.*                                                                                                                                                     |

| *  | Filed herewith. |
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| (1)  | Incorporated by reference from Form SB-2 filed with the SEC on August 10, 2005. |
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| (2)  | Incorporated by reference from Form 8-A Registration Statement filed with the SEC on April 5, 2007. |
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| (3)  | Incorporated by reference from Form 8-K filed with the SEC on April 22, 2009. |
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| (4)  | Incorporated by reference from Form 8-K/A filed with the SEC on October 19, 2009. |
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| (5)  | Incorporated by reference from Form 8-K filed with the SEC on February 26, 2010. |
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| (6)  | Incorporated by reference from Form 8-K filed with the SEC on April 6, 2011. |
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| (7)  | Incorporated by reference from Form 8-K filed with the SEC on April 16, 2007. |
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| (8)  | Incorporated by reference from Form 10-K filed with the SEC on August 17, 2011. |
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| (9)  | Incorporated by reference from Form 10-Q filed with the SEC on December 20, 2011. |
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| (10)  | Incorporated by reference from Form 10-Q filed with the SEC on March 21, 2012 |
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|   | ZORO MINING CORP. |                                                                                                                                                                                                               |
|--------|-------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |              |                                                                                                                                                                                                               |   |
|   | By:               | /s/ Harold Gardner                                 |   |
|   |              | Harold Gardner                                                                                                                                                                                                     |   |
|   |              | Interim Chief Executive Officer, President and a director                                                                                                                                                          |   |
|   |              | (Principal Executive Officer)                                                                                                                                                                                      |   |
|   |              |  Date: March 25, 2013                                                                                                                                                                                         |   |

|   |   |                                                                                                                                                                                                                                     |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                     |   |
|   | By:    | /s/ Frank Garcia                                     |   |
|   |   | Frank Garcia                                                                                                                                                                                                                             |   |
|   |   | Chief Financial Officer                                                                                                                                                                                                                  |   |
|   |   | (Principal Financial Officer andPrincipal Accounting Officer)                                                                                                                                                                            |   |
|   |   |  Date: March 25, 2013                                                                                                                                                                                                               |   |
|   |   |                                                                                                                                                                                                                                     |   |

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