Mundo Minerals Limited is an Australia-based company that is engaged in development of the Engenho gold project in Brazil and the Torrecillas gold project in Peru, and gold exploration in Brazil and Peru. As of June 30, 2007, the Company had three gold assets: two in Brazil and one in Peru. The Company completed 18 diamond drill holes within the main Torrecillas vein field between November 2006 and March 2007, with 16 of these intersecting vein structures. In addition to the drilling program, Mundo Minerals was able to access existing underground development to conduct a sampling program along the vein structure where mineralization was identified. The Tocantins Gold Project in Brazil is a joint venture between Mundo Minerals and Rio Gameleira Ltda (Rio Gameleira Ltda is a joint venture between IAMGOLD and AngloGold Ashanti). The Company’s subsidiaries include Mundo Mineracao Limiteda, Mundo Minerales SAC and Golden Empire SAC.