Deal #4152

Location #1

Spatial accuracy level
Administrative region
Location
Lahuaytambo, Peru

Target country
Peru
Comment on location
Lahuaytambo District, Huarochirí province in the Department of Lima, in the area known as Cruz de Laya and La Mina, approximately 85 kilometers from the city of Lima (“the Corizona Project”)

Land area

Size under contract (leased or purchased area, in ha)
[2013] 259
Comment on land area
Inca One Resources Corp got the exploration and explotaition rights over the project from Canadian Mining S.A

Intention of investment

Intention of investment
Mining

Nature of the deal

Nature of the deal
Exploitation permit / license / concession (for mineral resources)

Negotiation status

Negotiation status
[2013] Concluded (Contract signed)
Comment on negotiation status
INCA ONE RESOURCES entered into an Option Agreement with Canadian Mining S.A., to acquire 100% Option on the Corizona Mining Concession (known as the La Corizona project)

Implementation status

Implementation status
[2013] Startup phase (no production)

Contract #1

Contract date
2013-02-07

Operating company

Name of investment project
La Corizona Project
Comment on investment chain
Inca One got the option for 100% of Corizona Project from Canadian Mining S.A. But as agreed to in January 2013 and not formalized legally until June 5, 2013, Inca One committed to a three year renewable Joint Venture Agreement with Canadian Mining for purposes of further exploration, evaluation, development and operation of the Corizona Project. Pursuant to the terms of this agreement the joint venture will be operated by Canadian Mining and the Inca One Resources will contribute all of the initial funding in exchange for an 80% share of the Corizona Project’s net profits.

 

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Data source #1

Data source type
Company sources
File
Date
2013-10-24
Comment on data source
(last web company access).

Data source #2

Data source type
Media report
File
Date
2013-05-22
Comment on data source
Technical and descriptive Report

Data source #3

Data source type
Company sources
File
Date
2013-02-07

Data source #4

Data source type
Company sources
File
Date
2013-09-20
Comment on data source
it specified the relationship between Canadian Mining and Inca One Resources. The title of rights on exploitation and exploration are in Inca One Resources but the work mining will be share between both through a Joint Venture

Consultation of local community

Community consultation
Free, Prior and Informed Consent (FPIC)

How did the community react?

Community reaction
Consent
Comment on community reaction
On April 28, 2013, Canadian Mining held a Community Assembly and successfully obtained the consent for the use of the surface land for a five-year term from the Community of Llambilla. Inca One Resources celebrated pleased the agreement, because it is integral to the process of obtaining commercial mining permits.

Former land owner (not by constitution)

Former land owner
Other
Comment on former land owner
the soil belongs to the community and the subsoil to the State

Former land use

Former land use
Smallholder agriculture

Former land cover

Former land cover
Cropland

Detailed crop, animal and mineral information

Resources area
Gold

Overall comment

Overall comment
The title of rights on exploitation and exploration are in Inca One Resources but the work mining will be share between this one and Canadian Mining through a Joint Venture.

April 7, 2016, 3:25 a.m.

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Oct. 25, 2013, 1:12 a.m.

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