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| |  OwnershipThe Company, through its Peruvian subsidiary, Trevali Peru S.A.C., has acquired from Compania Minerales Santander S.A. ("Santander") of Lima, Peru, owners of the Santander Property the exclusive right for a period of 50 years (with an automatic 50 year extension) to engage in exploration, development, exploitation, processing and commercialization activities at the Santander property as well as the exclusive use of the existing infrastructure including a 1,000 person camp, associated support facilities and an ore processing/concentrate plant as well as the lease of a hydroelectric plant.In addition the Company, through its Peruvian subsidiary, Trevali Peru S.A.C., has effectively acquired approximately 95% of the current outstanding qualified liabilities of Santander as of April 2010. (Note: remaining ownership held by combination of Peruvian tax authorities and minor creditors)
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