Minera Florida is an underground gold-silver mine located south of Santiago in central Chile, with a 2,400 tonnes per day plant incorporating flotation and the Merrill-Crowe process. The mine has been in operation for over 20 years. Retreatment of historic tailings is expected to increase annual production by approximately 30,000 GEO per year for five years commencing in 2013.

Commissioning of the tailings retreatment plant was completed in September 2012 and the plant reached design capacity early in 2013. Additional production from the tailings is expected to improve overall costs since there are no mining costs associated with the tailings retreatment. Minera Florida also produces by-product zinc, amounting to 5,381 tonnes in 2012. The 2012 exploration program resulted in the discovery of the Aguas Frias East zone, which will be drilled further in 2013.

Mineral Reserves and Mineral Resources (as at Dec. 31, 2012)