North Mining Inc.

North Mining Inc. (Australian, part of Rio Tinto Group)

Worked in Mexico through wholly-owned subsidiary North Servicios S.A. de C.V. who maintain an office in San Luis Potosi.

The company is itself a wholly owned subsidiary of North Limited, a major Australian Mining Company that produces both ferrous and non-ferrous metals. Formerly called North Broken Hill Pty. Has been looking for opportunities in Mexico since 1997.

Sierra Mojada Project, Coahuila. North may acquire a 60% participating interest in Metalline Mining's Sierra Mojada Project by exploring and completing a bankable feasibility study over a period of not more than five years. A big US$3.27 million property payment is due on August 30, 2000 which Metalline is obligated to cover. If North covers it for them, then North thereby earns an additional 7.5% in the JV. (Evidently this thing didn't happen because Penoles is all over this project as of 2002)

Press Release 7Oct99