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•• Monthly Mining Bulletin Nº39
July - 2017 - PANORAMA MINERO
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Mining in Argentina – June showed a new Mining Federal Agreement, Veladero’s comeback and a continuous advance in lithium

The first half of 2017 had several positive topics for the mining industry. In terms of commodities prices, the ounce of gold escaped from the under US$1200 level, consolidating its position in the US$1.220-1.230 range. In the same trend, the ounce of silver recovered during the first quarter, advancing up to US$19/oz. Related to metals that trade in the LME –London Metal Exchange- copper has recovered, with an average showing that the “red metal” is closer to the US$3 per pound than US$2,50 per pound. This data represents a great opportunity for mining operators to advance their projects in Argentina. From the extreme north up to the Patagonia Region, Argentina has a strong geological potential: gold, copper, and copper-gold projects can transform this country in one of the most relevant metalliferous producers worldwide. This represents a great opportunity for all stakeholders: mining operators, goods and services suppliers, communities, federal and provincial authorities.

Lithium mining is showing the trend for the Argentine mining industry. A great corporate activity has been shown during the last years: junior and medium companies publish strong results coming from their exploration activities in Catamarca, Salta and Jujuy provinces. The near future promises more advance in this path: demand is surpassing supply with its impact in the price of lithium, with carbonate prices reaching records in the spot market.

On 13th June, President Mauricio Macri and twenty governors signed the Mining Federal Agreement, an important tool created to guarantee a unique legal framework among all jurisdictions. This gives predictability to foreign investors. After signing, President Mauricio Macri referred to mining as “a resource that would put Argentina within the six most important countries in the world”.

Barrick’s Veladero mine returned to operation after the company built a new pumping system in the leach valley. State authorities supervised pneumatic and hydraulic tests among other changes. Barrick Gold and Shandong Gold completed the formation of Joint Venture at Veladero Mine as a first step, followed by studies to evaluate a potential underground development in Lama, and prospecting activities in El Indio belt.

Barrick and Shandong Complete Formation of Joint Venture at Veladero Mine
Barrick Gold Corporation completed the sale of a 50 percent interest in the Veladero mine in San Juan province to Shandong Gold Mining Co., Ltd, for $960 million.

Lithium Americas Closes US$172 Million Strategic Financing with Ganfeng Lithium
Lithium Americas Corp. announced the closing of the investment agreement with GFL International Co., Ltd., a wholly-owned subsidiary of Jiangxi Ganfeng Lithium Co., Ltd. Pursuant to the Investment Agreement, Ganfeng Lithium agreed to provide Lithium Americas with an aggregate of approximately US$172 million in financing.

Exploration Drilling Continues to Outline Extensive Brine Horizons and Increased Lithium Grades at Pastos Grandes
Millennial Lithium Corp. reported positive analytical results from the latest exploration well at its wholly owned Pastos Grandes Project in Salta.

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Liberty One Lithium Acquires Interest in the Heart of Argentina's Lithium Triangle
Liberty One Lithium Corp., an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits, announced the closing of a mineral option and joint venture agreement with Millennial Lithium Corp.

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Millennial Lithium Significantly Expands Its Cauchari East Lithium Brine Project in Argentina
Millennial Lithium Corp. entered into an option agreement to acquire 100% of the Cauchari East Expansion Project in Jujuy Province.

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Ultra Lithium Signs Agreement to Acquire Lithium Brine Property in Catamarca
Ultra Lithium Inc. entered into an agreement to acquire 100% interest in the La Borita Brine Lithium property, located in the Antofagasta region, Province of Catamarca.

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Blue Sky Reported Phase I RC Drilling Results from Ivana Target on Amarillo Grande Surficial Uranium-Vanadium Project
Blue Sky Uranium Corp. reported complete results from the Phase 1 reverse circulation (RC) drilling program at Ivana, the first of three targets to be drilled in 2017 on the Amarillo Grande uranium-vanadium project, in Rio Negro Province.

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Sample Results on the newly discovered Piedra Negra Project
Magna Terra Minerals Inc. announced that generative efforts have resulted in the discovery of encouraging surface gold mineralization on a new low sulphidation epithermal vein style project in the Deseado Massif region of Santa Cruz Province.

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Compendio 2017

ARGENTINA MINING COMPENDIUM 2017

ARGENTINIAN MINING MARKET REASERCH IS AVAILABLE

CONTACT: Lic. Alicia Miranda - Email: eventospm@panorama-minero.com

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Buenos Aires - Argentina
Phone: (054-11) 4952-1117