Zaruma

The Zaruma Gold Mine, Core Gold's flagship project, is located in the Zaruma-Portovelo Mining District of southern Ecuador, 3km north of the town of Zaruma. This district is a significant, high-grade goldfield, having produced over 5 million ounces of gold historically. Between 2012 and 2014 the mine produced 72.4 Koz Au and 152.3 Koz of Ag. The Zaruma gold mine has an estimated measured and indicated resource of 1.1 Moz of gold at an average grade of 12.97 g/t gold with an additional 1.5 Moz at a grade of 12.2 g/t gold in the inferred category.