Kumtor SB Underground Project

Kumtor SB Underground Project Vertical Section 18 ( looking northeast ) 4,000 m

Mining Surface Dec. 31, 2006.

Moraine/Fill Base 7.5 / 3.3m D91

D77 4

4

D91

3

31.5 / 8.6m

KS7 Final Pit Limit

D9 22

3,800 m

15.2 / 17.5m D74 3

25.7 / 12.4m

D1 0 27

D91 5

13.0 / 6.0m

D10 25

19.2 / 18.0m D101

6A

D97 8A

D1021

3,600 m

1.0 g/t Au Shell

4.5 / 4.4m (Pre 1994 Hole) D129V

D1030 A

26.3 / 17.5m

D1031

Au (g/t) / True Thickness (m)

19,400 N

10,200 E

D11 21 D129V

10,400 E

7.0 g/t Au Shell

D1040

19,600 N

10,000 E

19,800 N

Intercepts shown are composite values with original assay capped at 100 g/t