GOLD – Province of Santiago de Chuco, PERU

THE VILCORO GOLD PROPERTY – SANTIAGO DE CHUCO

The Company entered into an option agreement dated January 22, 2007 with St. Elias Mines Ltd. pursuant to which the Company acquired an option to acquire a 66% interest in a mineral exploration property (the “Vilcoro Property”) located in the Province of Santiago De Chuco, Peru. The Company incurred various exploration expenses pursuant to the terms of the option agreement.

As disclosed in a news release dated November 10, 2008 and filed in SEDAR.com and also set out elsewhere in the Company’s website, the Company commenced legal proceedings in the Supreme Court of British Columbia, Canada against each of St. Elias Mines Ltd. and John Brophy, P. Geol. The legal proceedings relate to the option to acquire from St. Elias Mines Ltd. a 66% interest in the Vilcoro Property.

The Company is seeking rescission of the property option agreement and the return of all funds and shares advanced to Geneva to St. Elias Mines Ltd. on a number of grounds and, in the alternative, the Company is seeking damages from each of St. Elias Mines and John Brophy. John Brophy is a Canadian geologist living in Peru who was the Vice President of Exploration for St. Elias Mines Ltd. for a period of time and who was responsible for organizing and supervising the exploration program on the Vilcoro Property.

The Company alleges that St. Elias Mines Ltd. failed to properly discharge its duty as an operator of the Vilcoro Property.

The Company also alleges that each of St. Elias Mines Ltd. and John Brophy failed to provide the Company complete and accurate information relating to the ownership of the Vilcoro Property and to the ownership of the adjacent property, including failing to disclose that John Brophy and his wife had an interest in the Vilcoro Property and the adjacent property. The Company also alleges that St. Elias Mines Ltd. and Mr. Brophy, or either of them, repeated the aforesaid wrongful non disclosure of interests of Mr. Brophy and his wife in the Vilcoro Property and the adjacent property in a series of technical reports and a series of news releases.

Also, the Company has alleged that St. Elias Mines Ltd. used some of the exploration funds provided by the Company to fund the exploration of the adjoining property.

The date for the trial in this matter has been set for the period October 12, 2010 to October 29, 2010.