The Madeira gold project located in Amazonas State of Western Brazil. The Company has completed a successful reconnaissance drill program. Gold mineralization was also encountered in the coarse-grained sandy stratigraphic layers occurring above and below the targeted Mocururu structure. Historically, buried conglomerate structures exposed by the Madeira River provided for reported gold production of over 1.6 million ounces. The interpretation of the geological setting is that the Mocururu mineralization is a result of the transport and deposition of gold and heavy minerals that were eroded during the uplift of the Bolivian Andes. Given the abundance of identified gold deposits in the Andean cachement feeding this basin, the Company believes it controls a highly prospective area. The initial results are the first clear indication that gold mineralization extends beyond the immediate vicinity of the Madeira River.

Due to the encouraging results of this initial phase of exploration, Amazon increased the project’s area to over 430,000 hectares, after work refining targets the holding has been reduced to 229,231 hectares. We are also conducting discussions with third parties to assess possible shared involvement in future exploration. The Company staked Madeira and holds 100% of the mineral rights. Further, there are no staged payments to underlying owners.