Exploration Properties
Exploration Properties :: San Anton
 
Old Boxes of Drill Core, San Anton

OWNERSHIP

The San Anton Property is wholly owned by San Anton de las Minas S.A. de C.V. (“SAM”), a resident Mexican company in turn owned 58% by San Anton Resource Corporation, and 42% by Desarrollos Mineros San Luis S.A. de C.V. ("DMSL"). DMSL's ultimate holding company is Goldcorp Inc. ("Goldcorp"), a Canadian company.

San Anton Resource Corporation and Goldcorp have entered into a shareholders agreement governing their relationship in SAM and the Property. The shareholders agreement provides, among other things, that San Anton as SAM’s majority shareholder is entitled to oversee the day to day management of SAM which includes managing all exploration activities. Once a decision has been made to mine the Property, Goldcorp has the option to become the operator.

Goldcorp is not participating in the November, 2007 to October, 2008 exploration budget and as a result its interest in SAM has been diluted to approximately 42% as at March 31, 2008. Goldcorp’s interest will continue to decrease based on the level of expenditures made by San Anton Resource Corporation. Goldcorp has the option to participate in the following years’ budget and avoid further dilution.