Management

JOHN M. SIRIUNAS
P.Eng., B.A.Sc., M.A.Sc. (University of Toronto) – Age 54
President, Director and Secretary of Cuervo
Mr. Siriunas is actively involved in all aspects of the business of Cuervo and will continue to devote approximately 90% of his time, on average, to the business of Cuervo as an independent contractor. Mr. Siriunas has carried on business as an independent consultant to the mining industry since 1979. Mr. Siriunas has also served in various management capacities with mining exploration companies including serving as a director of Shield Gold Inc. from 2005 to the present, Hy Lake Gold Inc. from 2006 to present, Terex Resources Inc. (formerly Zenda Capital Corp.) from 2002 to 2005, director and officer of Aavdex Corporation from 1998 to 2002 and a director of Findore Gold Resources Inc. from 1998 to 1999. Mr. Siriunas has not entered into a non-competition or non-disclosure agreement with Cuervo. Based on his professional qualifications and experience, Mr Siriunas is a “qualified person” as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators and is considered by the Corporation to be its primary qualified person. As the designated qualified person for Cuervo under the definition of NI43-101, content for this website has been prepared under Mr. Siriunas’ supervision.

GORDON D. WATTS
P.Eng., B.A.Sc. (University of Toronto) – Age 63
Director of Cuervo
Mr. Watts has over 30 years of experience in the mining industry in exploration, development and operations much of that with Watts, Griffis and McOuat, a Canadian-based firm of independent consulting geologists which has been been serving the needs of the international mining community since 1962. He has specialized in the economic analysis of mining ventures and the development and application of computer systems to mining-related problems. Mr. Watts’ varied mining background also includes underground operations (cut and fill and sublevel caving), exploration, mine design and feasibility studies. Mr. Watts has been a director of Baffinland Iron Mines Corporation, a TSX listed company, since June, 2004. Mr. Watts has not entered into a non-competition or non-disclosure agreement with Cuervo. Based on his professional qualifications and experience, Mr. Watts is a “qualified person” as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators.

VELASQUEZ SPRING
P.Eng. B.A.Sc. (University of Toronto) – Age 73
Director of Cuervo
Velasquez Spring has 45 years of experience in the mineral industry with a solid background in the planning and managing of exploration programs, due diligence, feasibility studies, and valuations of both large and small deposits, and operating mines. The experience has been worldwide but includes extensive work in South America with Watts, Griffis and McOuat, Noranda Exploration Co. Ltd. and Eluma S.A. Industria e Comércio. Mr. Spring’s experience also includes dealing with governments at all levels, diplomatic offices and institutional organizations and covering deposits of precious and base metals, iron, nickel, uranium, manganese and a suite of industrial minerals. Mr. Spring has not entered into a non-competition or non-disclosure agreement with Cuervo. Based on his professional qualifications and experience, Mr Spring is a “qualified person” as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators.

BRIAN BERNER
H.B.B.A. (Wilfrid Laurier University) – Age 54
Chairman of the Board
Mr. Berner has been the owner and President of Berner & Company Inc., a capital markets consulting firm, since 1998. The firm provides advice on raising capital, corporate strategy and investor relations for junior resource companies. Between 1976 and 1998, Mr. Berner held positions in the securities industry specializing in fixed income and bond trading. Mr. Berner has not entered into a non-competition or non-disclosure agreement with Cuervo.

BRIAN M. CLONEY
CA ACC – Age 64
Chair of the Audit Committee and a Director of Cuervo

Mr. Cloney has over 30 year’s financial and accounting experience including the audit of Noranda Mines. He recently successfully completed the Audit Committee Certified course from the Directors College McMaster University, Conference Board of Canada (Corporate Governance issues). Mr. Cloney has been a Director of HMZ Metals Inc., a TSX listed company, and is currently acting as interim CFO. Mr. Cloney has not entered into a non-competition or non-disclosure agreement with Cuervo.

DANIEL E. HAMILTON
C.A., B. Comm., B.Admin. (University of Ottawa) – Age 52
Chief Financial Officer
Mr. Hamilton has over 25 years of experience in financial management and accounting roles, most recently as CFO of Crystallex International Corporation. Prior to that Mr. Hamilton was Vice-President, Controller of AMEC Americas, a multi-national engineering and construction management firm, and Group Controller, Noranda Inc. Mr. Hamilton is currently a Director and Chairman of the Audit Committee of Silk Road Resources Ltd., a TSX Ventures company. Mr. Hamilton has not entered into a non-competition or non-disclosure agreement with Cuervo.

Advisory Board

DR. ING. EKKEHART MERTINS
Dr. Mertins is a renowned mineral processing and metallurgical specialist with near to or about 40 years of experience in the iron and steel industry. Much of his career has been spent with the Studiengesellschaft für Eisenerzaufbereitung (Research Centre for Iron Ore Beneficiation, Agglomeration and Metallurgical Testing, or “SGA”) in Germany. Dr. Mertins has worked on, and continues to work as a consultant to, iron projects around the world.

Dr. Mertins attended Technische Universität in Clausthal, Germany where he obtained his Master’s Degree in Mining Engineering (1969) and his Doctorate in Engineering Sciences (1973). His doctoral thesis addressed “Investigations into the possibility of dressing oolitic iron ore by leaching and selective extraction of iron and vanadium”. A profile of his experience includes:

Theoretical and practical experience in the planning, performance and supervision of batch, bench scale and pilot plant test work for the layout of processing plants and the optimization of operating such facilities;
Involvement in most of the larger Iranian iron ore projects – Chador Malu, Choghart, Se Chahun, Gol E Gohar, Gohar Zamin, Sangan;
Quality control measures in the field of raw materials (ISO); and
Research work for the dressing of hydrothermal sulphide sludge from the Red Sea by flotation and leaching.

FRANK HANSON
Transportation Advisor
Based in Kila, Montana, USA, Mr. Hanson is an accomplished transportation and logistics specialist with close to 40 years experience in developing and managing transport and logistical efforts for large scale mining properties on a global basis. Prior to beginning his consultancy in 1997, Mr. Hanson worked for the Magma Copper Co. and its successor BHP Copper Co., the Cyprus Copper Co., Inspiration Cons. Copper Co. and the Anaconda Co. In particular, his work with the Magma and BHP Copper Companies included projects in Perú and Chile (e.g., Tintaya Mine). In 2007, he performed several transportation studies for Anglo American in Perú.

His expertise includes the management of short line and industrial rail systems, seaborne transportation, freight rate negotiations and business improvement/ cost reduction efforts. Mr. Hanson prepared the Company’s preliminary transportation study for the Cerro Ccopane Project.