Company Overview

Santas Mining lies within the Kafubu Emerald mining area of Zambia in Ndola Rural. It is located south of the small mining town of Kalulushi on the Copperbelt province of Zambia. Santas Mining covers an area of 148.49 hectares and perimeter of 6826.21m. It holds license number 7351-HQ-SML on the Zambian cadastre portal. During the exploration of emeralds, desk study, mapping, geochemical sampling, geophysics, core drilling and trenching has to be done. This will help in coming up with a well-defined resource model and estimation. Santas mine has all this done and holds a valid mining licence. Emeralds in the Kafubu area are vein controlled. These can be discordant alteration zones or concordant alteration zones, which intersect the host, rock Talc Magnetite Schist. These rocks belong to the Muva super group within the Zambian stratigraphy.Previous works done prior to this report include geological mapping, ground geophysics and diamond core drilling. Mapping covered both the Mwanawasa and 'Chiluba pits. 39 drill holes were drilled giving a total meterage of 2616 of which eight where oblique and 31 where vertical holes. Three holes intersected emerald/beryl mineralization.Current works done include but are not limited to geological mapping and geochemical sampling. The mapping established the local stratigraphy and structures. The geochemistry established the evolution history of the different vein types and the rock geochemical signatures. GEOVIA Surpac 6.6 (x64) Software was used to come up with the solid model of the TMS, Decollement (upper concordant), Footwall AZ and discordant veins. These models help come up with volumes used in the resource calculations. Two resource categories were considered during the calculation and these are measured and indicated only. The total weight of the measured resource from the Hanging wall, Footwall and discordant alteration zone is 32, 603, 331.2 grams. 30 percent of this amount is considered saleable. This gives a total saleable weight of 9,780,999.36 grams. This converts to $35,167,094,148.91 when the completely measured resource is mined. The total weight of the Indicated resource from the hanging wall, footwall and discordant alteration zone is 9,497,476.8 grams. 30 percent of this amount is considered saleable. This gives a total saleable weight of 2,849,243.04 grams. This converts to $10,244,310,888.17 when the whole indicated resource is mined.

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