Following the staking of the original San Jose claim, alteration and mineralization were first reviewed by Compañía de Petroleos de Chile, S.A. (“COPEC”) in 1975. In 1981, COPEC completed detailed geologic mapping, petrographic work and geochemistry, which confirmed that Vizcachitas was a porphyry copper-molybdenum prospect.

Based on this work and an unpublished thesis for a Bachelor’s of Science degree at an unnamed university, Señor Victor Mena staked the Santa Teresa, Santa Maria, San Cayetano and Tigre Tres concessions in 1987. Placer Dome Sudamerica Ltd. (“Placer”) reviewed the project in 1992 and signed an option agreement with Señor Mena in 1993. Placer completed mapping and sampling programs followed by six diamond drill holes totaling 1,953 m. Based on five of the six diamond drill holes, Placer concluded that Vizcachitas contained a resource (non NI43-101 compliant) of 300 million tonnes at an average grade of 0.42% Cu.

In 1995, General Minerals Corporation (GMC) acquired the San José, Santa Teresa, Santa Maria, San Cayetano, Tigre 1 through 3 and located the León 1 through 16 concessions. The total area of this land package was 3,788 Ha. In 1997 GMC entered into a joint venture agreement with Westmin Resource Ltd. (“Westmin”), which was subsequently terminated by Boliden in 1998. (Boliden acquired Westmin during the period of the joint venture.) Beginning in 1995, GMC conducted detailed mapping, sampling, geophysics and drilling programs. Although there is no comprehensive written summary of this work, 61 diamond drill holes were completed through 1998 for a total meterage of 16,347 m. Based on this information, GMC calculated an historic (non NI43-101 compliant) measured and indicated resource of 645 million tonnes at an average copper grade of 0.45% and an average molybdenum grade of 0.014% at a 0.3% Cu cutoff.

In 1998, GMC commissioned Kilborn International to complete an initial feasibility study on the Vizcachitas Property. Kilborn commissioned an audit of the historic GMC resource and concluded that at a copper price of $1.00 per pound, the Net Present Value at 8% was $201 million and the Discounted Cash Flow-Rate of Return was 20%.

Shortly after the initial feasibility study was completed, GMC put the project on a care and-maintenance basis, dropping all but the central core of concessions.
Lumina Copper Corp. purchased GMC’s subsidiary Vizcachitas Limited in late 2003, which included the shares of Vizcachitas Holdings (Chile), 51% of SLM San Jose and 100% of the claims constituting the Vizcachitas Property. In May 2005, under a Plan of Arrangement, Vizcachitas Limited was transferred to Global Copper Corporation, one of four successor companies of Lumina Copper Corp.