HIGHLIGHTS

Hydrothermal breccia pipes complex located within the Alianza polymetallic District
Promising results from 2,084m Stage I drilling programme completed in 2014
Best intersects:
Breccia 1: 33m @ 3.5 g/t Au, 23 g/t Ag, 1.0% Cu from 54m (SDH-1)
174m @ 0.7 g/t Au, 114 g/t Ag, 1.2% Cu from 92m (SDH- 9)
Breccia 5: 96m @ 0.9 g/t Au, 15 g/t Ag from 54m (SDH-7)
139m @ 1.4 g/t Au, 15 g/t Ag, 0.44% Cu from 87m (SDH-12)
Breccia 6: 76m @ 0.5 g/t Au, 33 g/t Ag from 0m (SDH-05)
Potassic alteration and highly anomalous Mo found beneath Breccia 5, at the bottom
of hole SDH-12, indicates proximity to a porphyry mineralized center.
IP/Resistivity geophysical survey with 527m depth reach, for total 19.5Km, depicted
conductors underneath Breccias 4, 5 and 6, and the contact with underlying sedimentary
sequence at the southwestern boundary of the property.
Mariana obtained updated drilling permits for the Stage II drilling program
Access agreements with landowners extended until February 2016
Exploration upside geophysical targets in depth below Breccias 4, 5, 6 indicating
possible concealed intrusive centers.

LOCATION
Located within the southern half of the Cordillera Negra part of a group of deposits that
comprise the Alianza Silver District.

OWNERSHIP
Mariana can acquire 70% interest in 4 years by spending US$4M on exploration, and
cash/share payments to Condor for a cumulative US$1,125M. Mariana proceeded to year 2
of the Option Agreement with Condor Resources by paying US$ 75,000 and committing to a
US$ 650,000 work programme.

GEOLOGY / MINERALISATION
Hydrothermal gold-silver-copper breccia pipe complex and potential for gold-silver-copper
intrusive related mineralization at depth, as interpreted from geological and geophysical
data. Other breccia pipes and geophysical anomalies on the Soledad property remain
untested.

PREVIOUS EXPLORATION
Previously explored as the Aija Gold Project (Rio Amarillo Mining Ltd, 1990s). Rio Amarillo
drilled 22 holes in the Soledad area with10 at Bellota, 2 SW of Bellota, and a further 10 S of
the current Condor lease boundary, at lower elevations.
Work included surface sampling, IP geophysics and drilling of a quartz-tourmaline breccia
pipe on what was then a much larger property. Best three intersections:

DDH3 61.5m @ 1.9 g/t Au, 146 g/t Ag, 1.8% Cu from 68m
DDH5 28.5m @ 5.0 g/t Au, 28 g/t Ag, 1.1% Cu from 55.5m
DDH2 33.0m @ 2.5 g/t Au from 72m
Note the above 1996 drill assay results are historic, have not been verified by either Condor
or Mariana, and should not be relied on.
Condor Resources completed 25.5-line km of IP and magnetics, prospecting, mapping and
sampling. A large (500 x 250m) zone of intense argillic alteration was identified within the
NE sector at an elevation of 4500m that may represent the higher level of a lithocap. Nine
breccia bodies, up to 200m in diameter were identified with anomalous gold and silver. A
concealed gold-silver-copper mineralized intrusive is postulated at depth.

WORK PLANNED
Petrographic, Mineragraphic and Fluid Inclusions studies of selected core samples are being
performed. Following detailed compilation of previous and Marianas exploration data, drill
targets for the Stage II drilling programme are being defined to test undrilled breccias, deep
sitting geophysical targets and the epithermal high sulphidation target in the NE

Soledad
Prospective for: Gold/Silver/Copper
Update:
An Induced Polarization geophysics survey was completed on the project in
December 2014 by Val D'Or Geofisica. The survey was designed to provide
information to a depth of 500m from surface, and comprised 6 lines at 400m
spacing, for a total of 12.3 line kms.
Mariana Resources Ltd. ("Mariana"), the operator, are planning a second phase
drill program at Soledad, with an expected commencement in March 2015.
In mid June 2014, Mariana completed a twelve hole, 2084m diamond drill
program at Soledad.
The first stage of the drill program tested the surface targets. The first hole
successfully confirmed historical results from Breccia #1. (33 m of 3.5 g/t Au,
22.8 g/t Ag, and 0.95% Cu).
Holes two and three tested the Cima Blanca zone, interpreted to be a high
sulphidation epithermal zone. SDH-002 was drilled to a depth of 88.5m to test a
prominent chargeability anomaly coinciding with a zone of argillic alteration at
surface. SDH-003 was drilled approximately 100m east of SDH-002 in the
centre of the argillic alteration zone to a depth of 273m, and returned 5m of
3.9g/t Au at 43m. Mariana interpret this interval in SDH-003 as the
mineralization expected in the upper levels of a porphyry system.
SDH-004 and SDH-006 tested Breccia #3, an area of multiple sub parallel
quartz-tourmaline breccias associated with EW trending structures. Both holes
in Breccia #3 intersected minor zones of mineralization.
SDH-005 tested Breccia #6, and was drilled to 85.5m, with the first 76m similar
to Breccia #1, exhibiting intensely mineralized breccia which tested 1g/t AuEq
over the 76m. (76m of 0.53 g/t Au, 33.4 g/t Ag, and 0.02% Cu.) SDH-005 is
about 100m higher in elevation that SDH-001, leading to speculation there may
be a copper mineralized zone below.
SDH-007 tested Breccia #5, and returned 96m of 1.5 g/t AuEq (0.92 g/t Au,
15.2 g/t Ag, and 0.2% Cu. Gold-copper values are consistent, averaging 0.9g/t
Au and 0.2% copper over the 96m.

SDH-008 tested Breccia #2, an area of sub parallel E-W quartz-tourmaline

structures with breccias., and intersected 28m of moderately silicified andesite
with tourmaline-pyrite, anomalous in Au, As, and Mo.
The objective of the latter stage of the drill program was to discover a brecciahosted and/or porphyry hosted bulk tonnage mineralization at depth associated
with the cluster of mineralized breccias expressed at surface.
SDH-009 tested Breccia #1 at depth, and was drilled at a steep angle (80)
below SDH-001, and from the same setup as SDH-001, in order to test for
possible higher grade feeder zones and indications of underlying porphyry
mineralization. SDH-009 intersected 174m of mineralized breccia (from 92m to
266m) that averaged 4.4 g/t AuEq (0.74 g/t Au, 114 g/t Ag, and 1.2% Cu). This
hole intersected three zones of strong quartz-tourmaline-sulphide
mineralization, and included 29m of 9.8 g/t AuEq (1.85 g/t Au, 301g/t Ag, and
2.1% Cu) starting at 236m.
SDH-010 was aborted at 55m due to logistic issues.
SDH-011, located 350m east-south-east of SDH-012, was drilled to a depth of
242m in Breccia #2. This drillhole intersected silicified host rocks with andesite
with tourmaline-pyrite, and anomalous silver to about 63m, with the best
intercept being 6m of 19 g/t Ag from 29 to 35m.
Hole 12 (SDH-012) tested Breccia #5 and was drilled at a steep angle (85)
below, and from the same setup, as SDH-007. Breccia #5 is approximately
830m west-north-west of the first deep hole (SDH-009) in Breccia #1. SDH-012
intersected 161m of mineralized quartz-tourmaline breccia (from 87m to 248m)
that averaged 2.1 g/t AuEq (1.3 g/t Au, 13 g/t Ag, and 0.38% Cu), and exhibits
quartz-sericite alteration in clasts with a quartz-tourmaline-massive-sulphide
(pyrite and chalcopyrite) matrix.
Location:
The Soledad Property is located in the Cordillera Negra metallogenic province
in the central Peruvian Andes and about 34 km to the south of the Pierina goldsilver mine operated by Barrick Gold Corporation.
Ownership:
The 7.13 sq km project was acquired by sealed bid auction in late 2011, and is
100% owned. Mariana can earn a 70% interest in Soledad by completing
cumulative exploration work of US$4 million, and making cumulative cash
payments of US$1.1 million to Condor, prior to October 31, 2017.
Previous Work:

The earliest documented work on the Soledad property dates back to the
1960's when it was explored for copper. In 1996, a junior exploration company
carried out surface sampling, an IP geophysical survey, and a drill program to
test one of several hydrothermal quartz-tourmaline breccia pipes (Breccia #1)
on what was then a much larger property. Five holes were drilled on the current
Soledad property and the best three holes returned a 61.5m interval grading
1.92 grams per tonne (g/t) gold (Au), 145.8 g/t silver (Ag), and 1.82% copper
(Cu); a 28.5m interval grading 5.0 g/t Au and 1.10% Cu; and a 33m interval
grading 2.54 g/t Au. The eight other breccia pipes on the Soledad property
were not drill tested until 2014.
In 2012, a geophysical survey was completed by Condor, and comprised a total
of 25.45 line kilometers of induced polarization (IP) and magnetics, along with
prospecting, mapping and sampling. The prospecting and geophysics led to the
discovery of a previously unrecognized zone of intense advanced argillic
alteration system within the topographically highest elevations (4500m) in the
northeastern sector of the property that measures approximately 650m by
450m. Quartz-alunite is pervasive within this zone, along with vuggy quartz
and local granular silica which is interpreted to represent a high sulphidation
epithermal system possibly overlying silica ledges or breccias and an intrusive
at depth. Geochemical rock chip samples are anomalous in gold and silver
within this pervasive advanced argillic alteration zone.
Geology/Mineralization:
The property comprises a number of mineralized hydrothermal breccia bodies
in an extensively altered system associated with abundant gossans and quartz
veins, multiple quartz-tourmaline structures up to 500m long and 10m wide, as
well as polymetallic veins with Ag-Cu-Pb-Zn mineralization. The alteration
system measures approximately two kilometers in diameter. Site visits and
sampling by Condor geologists confirmed the potential high grade precious and
base metal values within Breccia #1, which had been partially drill tested in
1996, but also led to the discovery of an additional eight (8) similar breccia
bodies, measuring up to 200m in diameter and also anomalous in gold and
silver values.