Altamina Chronology Update

ALTAMINA EXPLORATION & RESOURCES INCORPORATED
19th Floor Marco Polo Ortigas Manila

Sapphire Road, Ortigas Center
Pasig City, Manila 1600, Philippines
Telephone: (+63 2) 883 5311
ALTAMINA CHRONOLOGY UPDATE
June 29, 2010 – The office of the President represented by Former President Gloria
Macapagal Arroyo approved the Financial or Technical Assistance Agreement (FTAA)
of Altamina Exploration & Resources Incorporated (AERI) after completing all the
mandatory requirements and processes as per Mining Act of 1995.
June 29, 2010 to June 29, 2012 – Altamina Conducted exploration activities on the
FTAA mining areas at the Provinces of Pangasinan, Ilocos Sur and Ilocos Norte.
Geological Mapping, Sampling and other activities stipulated on the Exploration Work
Program was implemented as well as the Environmental Work Program approved by
MGB.
 Altamina concentrated exploration on the four municipalities of Ilocos Sur
namely: San Vicente, Sta. Catalina, Santo Domingo and Caoayan which are
the most promising areas based on the implemented Exploration Work
Program
 Altamina conducted drilling activities with a total of 6,161 drill holes
onshore and offshore of the FTAA Mining claim.
 Upon completion of drilling and resource estimation, I was found out that
the four municipalities has a mineral resource of 403,063,547 tons of
magnetite sand at an average Fe grade of 61.77%.
 Altamina rendered the services of a third party company Behre Dolbear to
validate the exploration activities conducted by Altamina as well as the
Mineral Resources
Telephone: (+63 2) 883 5311
June 30, 2012 – Altamina decided to concentrate on the four Municipalities with
Detailed Exploration Data and Exploration Report. As consensus of the Board of
Directors of Altamina, The Company will put all resources on the 2,236. 30 hectares of
mining claim on land and offshore for the preparation of Partial Declaration of Mining
Project Feasibility (PDMPF).
 Altamina decided to apply for Partial Declaration of Mining Project Feasibility
and submitted the following documents:
o Application for DMPF
o Three-Year Utilization and Development Program
o Environmental Protection and Enhancement Program
o Final Mine Rehabilitation/Decommissioning Plan
o Social Development and Management Program
o Safety and Health Program
o Survey Plan/Order of Survey
o Final Exploration Report
 Altamina also applied for Environmental Compliance Certificate (ECC) with the
Environmental Management Bureau.
 July 2012 – Altamina Requested MGB central Office an extension period for the
exploration period for the remaining areas outside the PDMPF thru Ex Director
Leo Jasareno.
o The Letter request was answered by MGB Central Office in 2014 two years
after the request saying that Altamina must renew the Exploration and
Telephone: (+63 2) 883 5311
Environmental Work Program of the company and Altamina reiterated with
another letter and submitted the needed requirements
o In 2016, the office of Director Jasareno answered again two years after our
last letter stating that additional requirements are needed
o Since then, there is no action on this renewal of the exploration period of
the FTAA claim
 Altamina Completed all the mandatory requirements of the EIS System as part of
the issuance of the Environmental Compliance Certificate
January 2013 to 2015 – Altamina kept on waiting for the issuance and release of ECC as
part of the approval of the PDMPF. Follow up letters were sent to DENR including the
Office of the President however due to the absence of offshore Mining Guidelines, the
ECC of Altamina is deemed pending.
 Altamina also wrote a letter to MGB Central Office requesting for the temporary
stoppage of the reportorial requirements of MGB regional Office pending the
release of the ECC.
March 17, 2016- Altamina Entered into Operating Agreement with Oriental Vission
Mining Philippines covering the PDMPF area and other selected areas of interest
June 29, 2016 – the Environmental Compliance Certificate of Altamina was released by
EMB upon the approval of the Offshore Mining Guidelines of MGB.

Telephone: (+63 2) 883 5311
August 2016 – Altamina Re-evaluated the Project and changes were made with the
leadership and directors of the company. The company is in partnership with Oriental
Vission for the preparation of New and updated DMPF requirements.
Technical Evaluation was conducted and Re validation of resources was conducted for
the preparation of PMRC Report.
As of to date, Altamina is finalizing the technical documents for the DMPF and we will
have subsequent submissions upon finalizing of the documents. Right now Altamina
submitted all the pending Reports, compliances and needed requirements for the
renewal of the Exploration Period of the Remaining areas outside the ECC (7,321.9396
hectares) for further technical evaluation and exploration the future. We will also abide
and implement the Environmental laws as part of the conditions of the permit. Rest
assured that Altamina will abide and comply with the terms and conditions of the FTAA
Permit and hope we can start Commercial Operations in the future and help the
Government in uplifting the Economic conditions of the areas of jurisdiction as well as
the Philippines.
Telephone: (+63 2) 883 5311

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ALTAMINA EXPLORATION & RESOURCES INCORPORATED

19th Floor Marco Polo Ortigas Manila

ALTAMINA CHRONOLOGY UPDATE

Macapagal Arroyo approved the Financial or Technical Assistance Agreement (FTAA)

mandatory requirements and processes as per Mining Act of 1995.

Program was implemented as well as the Environmental Work Program approved by

 Altamina concentrated exploration on the four municipalities of Ilocos Sur

the most promising areas based on the implemented Exploration Work

 Altamina conducted drilling activities with a total of 6,161 drill holes

onshore and offshore of the FTAA Mining claim.

the four municipalities has a mineral resource of 403,063,547 tons of

magnetite sand at an average Fe grade of 61.77%.

 Altamina rendered the services of a third party company Behre Dolbear to

validate the exploration activities conducted by Altamina as well as the

Detailed Exploration Data and Exploration Report. As consensus of the Board of

Project Feasibility (PDMPF).

 Altamina decided to apply for Partial Declaration of Mining Project Feasibility

and submitted the following documents:

o Application for DMPF

o Three-Year Utilization and Development Program

o Environmental Protection and Enhancement Program

o Final Mine Rehabilitation/Decommissioning Plan

o Social Development and Management Program

o Safety and Health Program

o Survey Plan/Order of Survey

o Final Exploration Report

Environmental Management Bureau.

Environmental Work Program of the company and Altamina reiterated with

another letter and submitted the needed requirements

last letter stating that additional requirements are needed

o Since then, there is no action on this renewal of the exploration period of

the FTAA claim

the issuance of the Environmental Compliance Certificate

ECC of Altamina is deemed pending.

stoppage of the reportorial requirements of MGB regional Office pending the

release of the ECC.

EMB upon the approval of the Offshore Mining Guidelines of MGB.

Vission for the preparation of New and updated DMPF requirements.

the preparation of PMRC Report.

Government in uplifting the Economic conditions of the areas of jurisdiction as well as

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