Global Hunter's La Corona de Cobre project is over 18,000 hectares of land located in the Coast Range of the Andean Cordillera, Chile, an area often referred to as the Chilean Iron Belt. The property is on the Pan American Highway, 70-kilometres north of the port city La Serena. The property is located at the southern end of the Atacama Fault Zone, a north-northeast regional feature that stretches for over 1,000 kilometres and hosts several large copper deposits in Chile including Phelps Dodge's Candelaria (400 million tonnes grading 0.95% copper and 0.2% gold) and Anglo-American's Manto Verde (100 million tonnes averaging 0.80% copper) deposits.

The most advanced exploration target on the property is the Las Posadas---a shear zone that has been traced for 2,400 metres in length and averages between 40 and 60 metres in width with copper oxide mineralization identified to an average depth of 140 metres from surface.

• Copper oxide deposit, leachable
• Existing NI 43-101 Resource Estimate (225 million pounds of copper)
• Management with proven track record
• Highly qualified technical team
• Low operating costs of appr. $ 1.00/lb (preliminary calculation)
• Substatntial upside potential (resource covers less than 0.1% of total area)

Based on 58 drill holes, Las Posadas has the following code-compliant mineral resource at $1.61/lb copper with a cutoff of 0.16% copper:

Indicated	8,490,000 tonnes	0.164% Cu	114,900,000 lbs copper
Inferred	4,600,000 tonnes	0.489% Cu	49,400,000 lbs copper

Price sensitivity analysis studies by Micon International indicate that at $2.50 per pound of copper with a cutoff grade of 0.10% copper:

Indicated	14,250,000 tonnes	0.455% Cu	143,000,000 lbs copper
Inferred	9,290,000 tonnes	0.366% Cu	74,200,000 lbs copper

The eastern portion of the property is underlain mainly by lower cretaceous andesites while the western portion of the property is underlain predominantly by granodiorites. The miocene and quaternary gravels cover linear quebradas, or basins mostly trending northerly, concordant with the AFZ. There are generally two types of widespread alteration in that area, a northerly calc-silicate, chlorite-silica, sericite zone and a southern zone of disseminated silica with phyllic alteration. The southern zone has local developments of quartz-hematite veins and stockworks.

As many as twelve shear zones have been recognized on the property. A central group of shears radiate outward in a northerly direction from a four square kilometre alteration zone of albitization and sericitization known as El Tazon. Eight kilometres to the east a second group of shears radiate outward in a northerly direction from Cerro Barrocho. Cerro Barrocho is characterized by copper oxides and magnetite associated with widespread biotite alteration.

The shear zones are generally 50 to 150 metres wide, with segments up to 400 metres in width. The Las Posadas shear zone is the least exposed on surface, however its proximity to drilling has traced the zone along a strike length of at least 2,300 metres. Copper oxide mineralization reached depths of 170 metres, with an average depth of at least 150- meters. The oxide minerals identified are: chrysocolla, malachite, and with copper wad, pitch, cuprite, and some native copper, among others. There is a thin transition zone to primary sulfides. Lenses of actinolite and apatite are frequently found on the hanging wall of the mylonitized structure. Thin mafic dykes accompany all of the major shears.

The shear zone most explored and most developed is the Las Posadas. Reverse circulation drilling and one NQ diamond core hole defined a continuous mineralized zone with copper oxides up to 170 meters deep, and across 20 to 120 meters with a soluble oxide grade range from 1,000 PPM to 4% (Cu sol.). Sulfide grades over the same shoot assayed close to 5% Cu. The undisturbed surface sampling gave copper values ranging from 500 PPM to 10,000 PPM; trenched (± 2.5 meters depth) gave values 1,000 PPM to over 1.5% copper. This section model with confirmed continuity (Las Posadas Central - Nº 1 zone) corroborates the values obtained on the surfaces of the other shear zones, and the assay values received from sampling 180-250 metres below surface; La Mascota (4.3%); and Golondrina (4.6%). The depth of oxides in the latter group corresponds to that established by drilling. This provides a model for preliminary estimating, as well as for drill-hole targeting. A total of 7.500 ML, average length of 165 metres was drilled.

La Corona de Cobre comprises a sector of the Atacama Fault Zone (AFZ) at the intersection of a major E-W regional fault system, the Tres Cruces Fault zone which runs to the Argentinean Cordillera. The AFZ is a complex of deep fissures that can be traced for 2,000 kilometres along the Coastal Belt. There are numerous intrusives and plugs along the AFZ. The sector from Gran Copiapó to La Serena (350 kilometres) has been called The Iron Belt. The many gashes and structures contain massive iron oxides -- mostly magnetite and specimen specular hematite. These also carry, and are associated, with copper and gold mineralization. These have been mined either selectively high graded or in bulk-high volume.

The iron camps operated with major concerns from 1920 to the end of 2001. There are many old camps, very rich in gold and copper which were worked from 1890 through 1968. Some of these are Carrizal Norte (Asarco 1890 -- 1999), Carrizalillo (15 g/t -- 50 g/t Au, and Cu 1 --5%) and Santa Dominga 1% Cu, and 3 to 10 g/t Au. The latter two are within 15 kilometres of the La Corona de Cobre.

The La Corona de Cobre District, covering approximately 16,000 hectares, embraces an exposed swarm of ten strong shear zones in the double intersection of the AFZ with the Tres Cruces and Agua Grande faults. To the west of the district is the Santa Dominga mine camp, and to the south is the El Tofo iron ore mines.

Following the drilling in 1994 by Andalé/Río Bravo, and further definition by Noranda in 1995/97 of the Las Posadas, other similar mineralized shear zones in the area were targeted and identified. The geology, mineral assemblages, alteration and morphology compared very closely to Anglo American's Manto Verde, north of Copiapó and also on the east side of the AFZ, in the Coastal Belt.

La Corona de Cobre District was expanded to encompass all of the large shear zones with the same style of mineralization. This expansion also embraced other target types held over the same time frame by Andalé. These are stand-alone porphyry-copper and copper-gold with iron oxide plays, exhibiting typical alteration: albitization, phyllic, serecitic, potassic, hydrothermal schist silicic; and cut frequently and repetitively by structures/gashes with iron oxides (magnetite and specimen hematite); hosting copper (1-2%) and gold anomalies up to 10 g/t.

The evolving knowledge of the geological features of the major copper-gold, with Fe-oxides (IOCG) or Olympic Dam model attributed to Freeport-McMoran's (formerly Phelps Dodge's) Candelaria and Anglo's Manto Verde (+ 400 Mt. With 0.7 -- 1% Cu) and probably Andacollo, in the same, or very similar geological environment have raised a high priority profile model for exploration along the AFZ in the Iron Belt.

In the La Corona de Cobre District, a number of potential IOCG/Porphyry copper-gold targets have been identified, including Cerro Borracho/Golondrina, La Marinera (Central zone); El Tazón, south of La Marinera, and Los Tábanos on the west side of the sector. El Tazón, for example, is a prospect within the Corona de Cobre concession characterized by four square km of albitization cut by W-NW structures hosting limonite and sericite stockworks.

There is a large hidden target, under the same Atacama gravels, in the south sector of Las Posadas and Ponderosa zones, east of Santa Dominga and El Tofo camps, and north of the El Caballo Blanco (Andalé) project, where drilling by Andalé disclosed economic mineralization. The structural complexity of this segment of the Atacama Fault Zone in this district with the styles of alteration and persistence of mineralization suggest a singular, or possibly interconnected, potentially large economic target.

• Agreement March 2005, Global Hunter to acquire a 100% undivided right, title, and interest in La Corona de Cobre Project from Optionor Inversiones Y Mineria Andale Ltda. and Exploraciones Rio Bravo Ltda.
• Property payments totaling US$1,110,928 as follows:
  • US$760,928 on or before February 2006; and
  • US$350,000 on or before May 2007.
• 1,500,000 shares of the Company capital stock as follows:
  • 1,000,000 shares on or before March 2007; and
  • 500,000 shares on or before May 2007.
• Cumulative exploration expenditures of US$3,500,000 as follows:
  • US$500,000 on or before Dec 31, 2005; and
  • US$1,000,000 on or before Jun 30, 2006; and
  • US$2,000,000 on or before Sept 30, 2007.