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Los Azules, San Juan, Argentina<br />

Recent Investments in Argentina show support for security of<br />

resource development<br />

• Yamana Gold investing $450M to<br />

develop Cerro Moro<br />

"I think to finally reach a friendly agreement on this<br />

contentious issue that has taken two years is extremely<br />

positive," said Antonio Brufau, Repsol's chairman.<br />

• Chevron investing $1.6B for shale oil<br />

and gas development<br />

• Repsol receives $5B compensation<br />

• Lumina Copper, Taca Taca sale $470M<br />

Source: McEwen Mining Inc.<br />

TSX.V : TNR 7

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