The GBGM-Mimopi Concession Project, which includes the Miranda Alto, Miranda, Pilacella, Montedesuca and Gabriella concessions total over 150 hectares of prime, Au (Gold), Ag (Silver) and Cu (Copper) bearing exploration and mining properties. Through years of rudimentary mining and processing practices, these properties have provided the local community with a comfortable source of income and lifestyle. In May of 2007, an independent technical study was authored by UK based Mining and Engineering firm Wardell Armstrong. A recent 5000 meter drill program on the Mimopi concession project has been reviewed and it has been determined that these concessions are true concessions of merit. A financial plan to further survey, drill and complete a full 43-101 / Competent Person's Report on this area is now being produced. The Miranda Alto concession, just one of several concessions within the Mimopi project, currently generates 5 grams Au per tonne from 50 tonnes of ore per day. Upon closure of this one concession agreement, GBGM revenue from this source of ore can be calculated at approximately US$7,500.00 daily, given today's Au prices. Estimations based on current and historical exploration and survey data of the entire Mimopi Concession Project, point to a potential reserve of more then 1,000,000 ounces of recoverable gold within the entire Mimopi Concession project. GBGM is now in the final stages of committing to the original FSE / Makromines S.A. "agreement to proceed" identified within the concession agreement.
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