Lepanto Consolidated Mining Company

© 2008 LEPANTO CONSOLIDATED MINING COMPANY.
ALL RIGHTS RESERVED.

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	Update on the Far Southeast Project

	Read The Philippine Star Article

	Resumption of Victoria mine production

	Agreement between MA and PX for exploration and development of Kalayaan Project; Lifting of trading suspension

LEPANTO CELEBRATES 75 YEARS OF
RESPONSIBLE MINING

Lepanto Consolidated Mining Company was established in 1936. 2011 marks the company's 75th year in the business.

Lepanto a Filipino primary gold producer. The Lepanto mines are located in Mankayan, Benguet where the Company has about a thousand employees.

From 1948 to 1996, Lepanto's Enargite operations produced 1.58 billion pounds of copper, 2.9 million ounces of gold and 12.0 million ounces of silver, recovered from 34.4 million MT of ore averaging 2.2% Cu and 3.5 g/t Au. Lepanto suspended its Enargite operations in 1996 and in 1997 commenced its Victoria gold operations. Lepanto presently operates the Victoria and Teresa deposits, from which it has produced over 1. 2 million ounces of gold.

MESSAGES FROM

Lepanto has a 60% interest in Far Southeast Gold Resources, Inc. which owns the Far Southeast Project, a world-class, high-grade gold and copper porphyry deposit. Lepanto is looking to develop the Far Southeast Project through a partnership with Gold Fields Limited of South Africa, one of the biggest gold miners in the world, with whom Lepanto executed an Option and Shareholders' Agreement in September 2010.

Lepanto has been a publicly-listed company since 1947. Its shares are traded on the Philippine Stock Exchange under the symbols LC and LCB and are highly liquid.

Lepanto Consolidated Mining Company is committed to achieving its business objectives with utmost care for the environment and concern for the welfare, safety and health of its employees and host communities.

"I am confident that the contribution of large scale mining to the GDP will steadily increase in the near future. Currently, mining contributes a meager 1.4% of the GDP of the country. With the opening up of the industry and the full support of the government, we expect to realize the full potential of the industry as an engine of growth not only in the host communities but for the entire nation."
� Bryan Yap, Lepanto President and COO

Your company showed an improved financial performance in 2010, substantially reducing net losses from P371.9 million in 2009 to P21.3 million in 2010. On a pre-tax basis, the company realized a net income of P6.3 million compared with a net loss before tax of P347.5 million in 2009. The improvement in financial results can be attributed in good part to the receipt of a $10 million option fee from Gold Fields Switzerland Holding AG ("Gold Fields") to acquire a 20% interest in the Far Southeast Project.

READ THE 2010 ANNUAL REPORT

We commit to conduct our business objectives with utmost care for the environment. We seek to continually integrate safety, health and environmental concerns in all phases of operations. We shall use the best environmental management practices and strive to foster mutually beneficial partnership with host communities.

READ OUR ENVIRONMENTAL POLICIES