Presentation made by Mr Guillermo de Kuhl, Espiritu De Los Andes - Ajendres, Argentina at the India LAC Investment Conclave. The conclave is being organised by FICCI in New Delhi. More details at indialacconclave.com

2. AJEDREZ PROJECT
 ESPIRITU DE LOS ANDES S.A. is an Argentine company focused on the
exploration, development and exploitation of alluvail ecolgical gold projects
in the country.
 AJEDREZ PROJECT is one of most important alluvial gold projects in
Argentina due to the quality of the ore and the estimate amount of its reserves
 The Project is located in the well-known Gold District Sierra de La
Rinconada, in the northwest region of the Province of Jujuy, 300 km away
from the capital of the province, the City of San Salvador de Jujuy.
1
THE PROJECT

3. AJEDREZ PROJECT
LOCATION & DISTANCE
PROVINCE OF JUJUY - ARGENTINA
70Km.
25 Km.
25 Km.
50Km.
200Km.
AJEDREZ
PROJECT
LA QUIACA

4. AJEDREZ PROJECT
2 Mining Properties
6.000 Ha
3.900 m. a. s. l.

5. AJEDREZ PROJECT
 Given the characteristics of
this deposit, it is possible to
implement conventional
mechanical methods to
extract and concentrate gold
at a very low cost.
 The main gold reserves of
the Project are located in the
river terraces and the
floodplain.
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THE PROJECT

6. AJEDREZ PROJECT
 The average ore grade within these exploration targets is 0,6 g/m3. Areas with
up to 1,0 g/m3 have also been found.
 The current exploration area represents approximately 25% of the total
surface of the Project. Preliminary Studies and previous exploitation work in
the area allow the estimation of the existence of at least 100,000 troy ounces
(around 3,000 kg) of gold in this sector of the Project.
 Due to the almost complete lack of snow season, exploration and exploitation
activities can be carried out through the entire year.
5
THE PROJECT

7. AJEDREZ PROJECT
PROVINCE OF JUJUY - ARGENTINA

8. AJEDREZ PROJECT
ACCESS & ROADS
PROVINCE OF JUJUY - ARGENTINA

9. 8
AJEDREZ PROJECT
ACCESS & ROADS

10. AJEDREZ PROJECT
CERRO OROSMAYO

11. 10
AJEDREZ PROJECT
BACKGROUND - EXPLOITATION HISTORICAL SITES

12. 11
AJEDREZ PROJECT
BACKGROUND- EXPLOITATION AREAS AT OROSMAYO (2006)
Mines Alfa, Beta & Gama

13. AJEDREZ PROJECT
BACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)
Ciénaga Grande Sector

14. AJEDREZ PROJECT
BACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)
Campo Lavadero Sector

15. AJEDREZ PROJECT
BACKGROUND - EXPLOITATION AREAS AT OROSMAYO (2006)
Campo Lavadero Sector
Delta Mine
Thickness of the
Mineralized Sector:
2 meters (from bottom to top)

16. AJEDREZ PROJECT
BACKGROUND – EXPLOITATION AREAS AT OROSMAYO (2006)
Cortaderoyoc Sector
Epsilon Mine
Thickness of the
Mineralized Sector:
2 meters (from bottom to top)

17. 16
AJEDREZ PROJECT
BACKGROUND- GOLD PANNING AT OROSMAYO RIVER (2006)

18. 17
AJEDREZ PROJECT
BACKGROUND- GOLD PANNING AT OROSMAYO RIVER (2006)

19. AJEDREZ PROJECT
BACKGROUND- CONCENTRATION PILOT PLANT AT OROSMAYO (2006)
knelson 32”
Tromel
Knelson 10”

20. AJEDREZ PROJECT
BACKGROUND- GOLD AT OROSMAYO (2006)

21. AJEDREZ PROJECT
 By the end of 2013, ESPIRITU DE LOS ANDES S.A. signed a Joint Venture Contract with
J.E.M.S.E. (Energy and Mining State Company of the Province of Jujuy), in the pursuit of
development and growth of both Companies, as well as the economy and welfare of the
local Communities and the areas of influence where the Project is located.
20
PRESENT

22. AJEDREZ PROJECT
 During the last two years,
ESPIRITU DE LOS
ANDES S.A. has been
engaged to the intense task
of socialization with the
local Communities that
inhabit the Project area,
reaching a very positive and
important Company-
Community relationship.
21
PRESENT

23. AJEDREZ PROJECT
 The Environmental Impact Assessment (E.I.A.) of the Project has recently been
unanimously agreed on and approved by the Provincial Environmental Management
Unit of Jujuy, Unidad de Gestión Ambiental Provincial (U.G.A.M.P.). This entity is
formed by more than ten (10) state organizations of the Province of Jujuy, the
University of Jujuy, the Central Union of Mine Workers and representatives of the
local communities and indigenous peoples.
 On May 7th 2014, the Directorate of Mining of the Province of Jujuy approved the
E.I.A., thus authorizing the exploration activities for the Ajedrez Project.
22
PRESENT

24. 23
AJEDREZ PROJECT
MINING
POTENTIAL
GENERAL
CONDITIONS
NETWORKING

25. AJEDREZ PROJECT
 Since the approval of the E.I.A., an intense exploration programme is being carried out.
Its main objective is to confirm the gold potential of the Project and to define its
economic feasibility as soon as possible:
- Mineralogical Analysis
- Granulometric Analysis
- Sedimentological Analysis
- Hydrological Survey
- Geochemical Analysis
24
PRESENT

26. 25
AJEDREZ PROJECT

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AJEDREZ PROJECT

28. AJEDREZ PROJECT
 A treatment plant will be installed within the Project area, and it will be equipped
mainly with centrifugal concentrators, with a high recovery rate of very fine ore.
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FUTURE INVESTMENT & EXPLOITATION PLAN

29. AJEDREZ PROJECT
 The current design for the Exploitation Stage foresees the monthly production of eight
(8) to twelve (12) kilograms of gold, with the ore concentration equipment in use.
 Provided this production rate is maintained, the Project could have a mine life of thirty
(30) years.
 Due to the strong commitment to the continuous improvement of the life conditions of
the Local Communities, the Company is carrying out constant corporate social
responsibility work.
 ESPIRITU DE LOS ANDES S.A. plans to start producing ecological gold on the first
semester of 2015.
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FUTURE INVESTMENT & EXPLOITATION PLAN

30. AJEDREZ PROJECT
THANK YOU FOR
YOUR ATTENTION!!!