TrilliantExploration Corporation 10-K

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| 1.0  | INTRODUCTION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|      | The Muluncay Project comprises three past producing      gold mines located in the El Oro Province of Ecuador, 60 kilometres east of the major port      of Machala (Figure 1). The project is currently operated by Minera Del      Pacifico.  Access is via paved road in      good condition, and partial gravel track. The local towns of Portovelo and      Zaruma are easily accessible from the property      and can provide experienced labor.                                                                                                                                                               |
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| 2.0  | TERMS OF REFERENCE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|      | Exploration Alliance Ltd (EAL) geologists visited the      Aguacate Mine on 23rd April 2008 as part of a review of gold projects in Ecuador. A field      assessment of the geology, including underground observations, was      undertaken. A 43-101 Technical Report was      provided by the client.                                                                                                                                                                                                                                                                                                                        |
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| 3.0  | HISTORICAL PRODUCTION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|      | The Muluncay Project lies within      a major historic gold-silver producing district known as the      Portovelo-Zaruma-Ayapamba district (Figure 1).      Production commenced in 1905 and the district has since yielded      approximately 4.5 million ounces of gold. The      majority of this production is from the Grand Shaft Mine, Casa Negra      concession which produced 3.5 million ounces of      gold and 12 million ounces of silver at 14.6 g/t gold and 48.9 g/t      silver.                                                                                                                              |
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| 4.0  | MULUNCAY CONCESSION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|      | Three mines are held under the Muluncay concession;      Aguacate, Fatima and Nueva Esperanza 1. Also held is an operational processing plant which is currently being      upgraded to 110 tons per day, with a final estimated capacity of 500 tons per day. Modernisation of mining methods      and mine preparation are ongoing.                                                                                                                                                                                                                                                                                      |
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|      | The Aguacate Mine is the main focus of current work.      Mineralisation is hosted in two subparallel veins, Jen and Christina, which have an estimated vertical extent of      approximately 800 metres and a strike length of approximately 1500 metres. Average vein width is 1.2      metres.                                                                                                                                                                                                                                                                                                                     |
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|      | High grade ore has been extracted manually, almost      exhausting bonanza grade material to a depth of 200 metres.  However, vein material below      approximately 20 g/t Au has not been considered economic in the past and      there has been no drilling to test depth      potential. Mineralisation in the district occurs over a 1400 metre      vertical range, and the nearby Casa Negra mine      has been developed over 800 metres vertically.                                                                                                                                                                   |
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| 4.1  | Mineralisation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|      | Previously described as a low sulphidation vein type      deposit, mineralisation at Muluncay is now believed to      represent a mesothermal vein and breccia target (Figure      2).                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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|      | Jen and Christina breccias have been the focus of      historic development. Exploration of other sub-parallel veins      and breccias situated between the Jen and Christina      structures is required. Additionally, stockwork quartz-sulphide      veins in the hanging walls of the main      structures have not been worked historically due their relatively low      grade, however modern mining and processing      techniques means this style of mineralisation should also be considered      (Figure 3).                                                                                              |
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|      | Mineralisation occurs mainly in the form of breccias      (Figure 2), composed of sub-angular, chlorite-pyrite altered andesite fragments supported in a coarse-grained,      banded and comb texture quartz (Figures 4 and 5). Mulitple      stages of sulphide mineralisation      associated with later quartz, quartz-calcite and calcite veins is      recognised (Figures 6 and 7). The main      sulphides are iron rich sphalerite, galena and pyrite. High gold grades      are typically associated with high pyrite content, whereas      high silver grades are associated with high galena      content. |
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|      | Stockwork quartz-sulphide veins have formed in the      hanging wall of breccias and have not been mined historically. Such zones may increase the size      potential of the target and represent a good exploration target if      proximal to high grade breccias (Figure      3).                                                                                                                                                                                                                                                                                                                                      |
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Muluncay Project, Ecuador

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| 4.2  | CONCEPTUAL MODEL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|      | Mineralisation at Muluncay is of the polymetallic      gold-silver mesothermal vein type. These systems are typified      by coarse-grained, banded, cockade quartz-sulphide (for      example galena-sphalerite-pyrite) occuring in veins and as breccia cement. Many deposits of this type can be      mis-interpreted as epithermal due to quartz vein textures,      however in epithermal systems quartz is very fine- to      fine-grained and saccharoidal.                                                                                                                                                                                                                                        |
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|      | Mineralisation is hosted in en-echelon faults related      to regional scale shear zones, and form multiple parallel vein zones which pinch and swell along strike and down      dip. In contrast to epithermal systems, polymetallic      gold-silver systems can display precious metal deposition over a      large (greater than one kilometre) vertical extent (Figure    8).                                                                                                                                                                                                                                                                                                                                  |
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| 5.0  | CONCLUSION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|      | Excellent potential exists at Muluncay for the      existence of a low tonnage, high grade gold and silver deposit      with possible lead and zinc by-products. Despite the fact      that near surface (within 200 metres) high grade material has been largely exhausted by      previous workers, it appears economic ore blocks still exist in current      workings due to the present gold price and the      introduction of modern mining and processing technologies. Furthermore,      there has been no drilling to test the depth potential of the system      despite the deposit being situated in a district where other      mines have been      exploited to 800 metres below surface. |
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|      | The Muluncay Project also benefits from the existence      of an operational processing plant with an estimated final capacity of 500 tons per day. Mine development to      allow the mechanical extraction of ore is ongoing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| 6.0  | RECOMMENDATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|      | Further work to include:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Channel sampling of existing adits with a rigorous      QA/QC protocol;  |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Digital capture of mine plans, long sections and      historic production data;  |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 3 dimensional modelling and resource-reserve      estimate;  |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Bench scale metallurgical scoping      study to maximise gold-silver recovery and assess potential Pb-Zn      by-product; |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Diamond drilling to test depth potential,      distribution of grade in hanging wall of breccias and potential      blind shoots; |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Continuation of mine development and      modernisation;  |
|      | •                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Design parameters of processing plant should be      revised upon completion of bench scale metallurgy study.  |
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| 7.0  | REFERENCES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|      | Bain, D., 2006, Report on Exploration Potential,      Muluncay Epithermal Gold Project, Portovelo-Zaruma-Ayapamba area, Province of El Oro, Ecuador. Technical      Report.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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|      | Corbett, G.J., 2002, Epithermal Gold for      Explorationists: AIG Presidents Lecture, AIG Online Journal April      2002. AIG website www.aig.asn.au.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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|      | Thournout, F.V., Salemink, J.,      Valenzuela, G., Merlyn, M., Boven, A. and Muchez, P., 1996, Portovelo: a      volcanic-hosted epithermal vein system in      Ecuador, South America. Mineralium            Deposita v31, p.269 - 276.                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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Muluncay Project, Ecuador

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| Chris Wilson, PhD,      FAusIMM (CP), FSEG |  PRINCIPAL CONSULTANT |
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| Andrew Tunningley,      MGEOL (Hons), MAusIMM, MSEG |  EXPLORATION GEOLOGIST |
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