Home Page: San Anton Resource Corporation

EXPLORATION PROPERTIES

San Anton Property & the Cerro del Gallo Deposit, Guanajuato, Mexico

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San Anton Resource Corporation (SNN:TSX) is an exploration and development company that is listed on the Toronto Stock Exchange and is totally focused on the mining friendly jurisdiction of Mexico. The Company�s principal asset is a 63% interest in the San Anton Property (Goldcorp 37%), which hosts the near-surface Cerro del Gallo gold-silver-copper deposit (photo, right).

The San Anton Property is located in a historic gold-silver mining district in the state of Guanajuato in central Mexico, approximately 270km northwest of Mexico City. It is only in the period since July 2004 that the Property has been subjected to modern exploration techniques, a process that quickly identified several exploration targets. The only target that has received extensive work to date is the Cerro del Gallo deposit, where a NI 43-101 Mineral Resource of 4.5 million ounces of gold, 202 million ounces of silver, and 1.4 billion pounds of copper has been defined in less than three years. Measured and Indicated (M&I) categories account for 81% of total contained metal. The deposit is still open in a number of directions and a number of other exploration targets on the property have yet to be drilled.

Cerro del Gallo Mineral Resources

^{(0.2g/t Au cut-off grade in the gold domain and 0.07% Cu cut-off grade in the copper and intrusive domains)}

^{Category Tonnes (M) Au g/t Ag g/t Cu% Au Moz Ag Moz Cu Mlbs}

^{Measured 225 0.35 13 0.11 2.5 91 541}

^{Indicated 236 0.19 10 0.11 1.4 72 546} ^{M&I 461 0.27 11 0.11 3.9 163 1,087} ^{Inferred 166 0.11 7 0.10 0.6 39 356} ^{4.5Moz gold, 202 Moz silver and 1.4 Billion lbs copper}

Next Steps

Work to advance the San Anton project is proceeding on two fronts: engineering & metallurgical studies (PFS) on the Cerro del Gallo deposit and exploration of other regional targets within the property.

Engineering & Metallurgy

To date, two main phases of preliminary metallurgical work have been completed. The flotation test work indicates that copper can be recovered to a saleable grade concentrate from the Copper and Gold Zone material. At the same time, results from the leach test work indicates that gold is readily recoverable using a cyanide leach process with good kinetics.

The Company is currently undertaking a re-logging program to review cross-sections and drill core for the purpose of refining the 3D models. This program will provide an improved understanding of the resource and will enable more detailed metallurgical test work to be done including a comprehensive variability test work program. It will also assist in future pit designs and mine planning activities.

In 2007, Golder Associates carried out a series of pit optimization studies which indicate that potential pits already contain a significant resource and have a very low strip ratio of 0.44. Preliminary metallurgical recoveries were assumed at 80% for gold and silver, and 85% for copper.

Cerro del Gallo Deposit - Resources Contained within Optimized Pit Shell

^{(Based on Au US$500/oz, Ag US$9.00/oz, Cu US$1.50/lb)}

Category Tonnes (M) Au g/t Ag g/t Cu% AuEq g/t AuEq Moz

^{Measured 54 0.76 14 0.08 1.18 2.0}

^{Indicated 67 0.29 18 0.13 0.90 2.0} ^{Inferred 4 0.22 17 0.12 0.78 0.1} ^{Total 125 0.49 16 0.11 1.02 4.1} ^{2 Moz gold, 64 Moz silver and 302 Mlbs copper}
^{Note: The gold equivalent grade was calculated as Au+(Ag/55.56)+(CuX2.19) and assumes metallurgical recoveries of 80% for gold and silver, and 85% for copper.}

Regional Exploration

The Company has also completed a systematic soil sampling program to determine if other deposits exist within the 12.5km� alteration halo that surrounds Cerro del Gallo. Assay results are still awaited. Three other large zones of clay alteration similar to Cerro del Gallo have yet to be tested.

Work has also commenced on some of the other higher grade exploration targets elsewhere on the San Anton Property. The main target is the Carmen-Providencia vein system, a north-northwest trending low sulphidation epithermal silver-gold system located approximately two kilometers west of Cerro del Gallo and traceable on surface for three kilometers. First pass drilling designed to test the upper levels of the epithermal vein systems is now completed with encouraging results from the Dolores and Empalizada prospects including 4.6m grading 428g/t Ag and 3.52g/t Au, 1.5m grading 590g/t Ag and 3.40g/t Au, and 7.6m grading 168g/t Ag and 1.51g/t Au.