Gammon Gold Announces the Strategic Option of the Venus Property Located in
the Prolific Ocampo-Pinos Altos Gold and Silver Belt and Provides Update on
Exploration

TSX: GAM / NYSE: GRS / BSX: GL7

HALIFAX, May 6 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE: GRS): Gammon is pleased to announce that the Company has entered into an option agreement for a 4,491 hectare block of claims north of the Ocampo Mine known as the Venus property, from Mexicana de Cobre, S.A. de C.V. (an operating subsidiary of Grupo México, S.A. de C.V. ). This option agreement not only increases Gammon land position by 40% in the prolific Ocampo and Pinos Altos belts, but could also host extensions of the Pinos Altos trend. Field mapping and sampling identified several targets for immediate follow up. A field program is underway, and a drilling program will be launched in the fourth quarter. Selected chip samples from individual structures sampled from surface and underground during Gammon's initial evaluation are as follows:

    
    -------------------------------------------------------------------------
               Select Sample Results - Venus (April 2010)(1)(2)(3)
    -------------------------------------------------------------------------
    Sample         Width      Gold    Silver     Au eq.            Structure
                      (m)      g/t       g/t     (55:1)
    -------------------------------------------------------------------------
    V-14             2.0      2.84         8      2.99           Roncesvalle
    -------------------------------------------------------------------------
    V-15             1.5      4.01        41      4.76           Roncesvalle
    -------------------------------------------------------------------------
    V-18             0.8      2.64         6      2.75           Roncesvalle
    -------------------------------------------------------------------------
    V-60             1.1      4.85        35      5.48      Balleza (Surface)
    -------------------------------------------------------------------------
    V-61             0.6      1.46        64      2.63      Balleza (Surface)
    -------------------------------------------------------------------------
    V-63             1.4      1.98        31      2.54      Balleza (Surface)
    -------------------------------------------------------------------------
    V-82             0.9     12.70        28     13.21    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-85             1.8      1.74        58      2.79    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-86             1.1      3.57         7      3.69    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    (1) See Table 4 for additional 2010 sampling results
    (2) The Venus surface sampling information has been reviewed by Qualified
        Person, Mr. Peter Drobeck. All sample analyses for Venus were
        performed by Chemex Laboratories, based in Vancouver, British
        Columbia, using standard fire assay procedures. True widths have not
        been calculated.
    (3) Metallurgical recoveries and net smelter returns are assumed to be
100%
    

In addition to continued advances of building an expanded exploration pipeline, Gammon is pleased to provide an update on its exploration activities in Mexico. At Ocampo, work in the past month has discovered high-grade extensions to the San Amado Vein at depth, intersected high-grade mineralization in the Santa Juliana Vein, discovered high-grade mineralization at a new target area known as Molinas SW, and delineated high-grade mineralization in the Picacho and Conico open pits. Drilling at the El Cubo mine has discovered gold-silver mineralization on the South Villalpando target area, 800 metres south of any past mining or drilling and continues to identify encouraging vein widths and grades at the new discovery, the Puertocito target. Work on the new Mezquite project is progressing on schedule. The Company has completed a ground magnetic survey and expects to complete an IP program during the month of May.

"The addition of the Venus property into our growing project portfolio is a testament to the Company's ability to continually seek business opportunities that could further augment our long-term growth strategy in North America. Additionally, we are very pleased to have a new business relationship with Mexico's largest mining company, Grupo Mexico in addition to continuing our strong partnership with Penoles at El Cubo." stated Peter Drobeck, Senior Vice President of Exploration and Business Development. He continued, "The Company's exploration program continues to deliver positive results at all our properties including new discoveries. Our efforts for the balance of 2010 will be focused on follow up drilling at recently identified targets, ongoing development at our key targets and launching strategic programs at our newly acquired projects, Venus and Mezquite."

"At Ocampo, we have significantly advanced the development of our second underground mine, Santa Eduviges. In the past two months, we have completed 357 meters of access development and anticipate accessing development ore by early Q3. In addition, we will be completing open pit and underground designs on the Las Molinas discovery and we have commenced the development of the high-grade Belen vein discovery. At El Cubo, plans include the development of the Dolores/Capulin discoveries during the third quarter with a target of accessing ore by early 2011." stated Chris Bostwick, Senior Vice President of Technical Services. "The success of our exploration program in the past two quarters has positioned the company well to increase reserves and resources in 2010 as all of these projects are exclusive of the 2009 year end reserves and resources that was released on March 30, 2010"

    
    OCAMPO EXPLORATION UPDATE
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From January 1 to April 30, 2010, the Company has completed 165 holes and 33,005 metres of drilling, divided into 95 holes for 18,027 metres of underground drilling and 70 holes for 14,978 metres in surface drilling.

    
                         2010 Ocampo Drilling Program
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    Area                                   Drilled Metres     Planned Metres
    -------------------------------------------------------------------------
    Underground Drilling                           18,027             30,000
    -------------------------------------------------------------------------
    In-pit Drilling                                   909              4,800
    -------------------------------------------------------------------------
    New Target Drilling                            14,069             35,500
    -------------------------------------------------------------------------
    Total Metres                                   33,005             70,300
    

At Ocampo, work completed in April has identified high-grade extensions to the San Amado Vein at depth, intersected high-grade mineralization in the Santa Juliana vein, discovered high-grade mineralization at the new Molinas SW target, and delineated high-grade mineralization in the Picacho and Conico Open Pits. (Table 1)

    
    Ocampo Underground
    -------------------------------------------------------------------------
    

The Company continues drilling in the Underground Mine with three core rigs currently operating and a fourth being mobilized. The best results have been from the San Amado and Belen (San Jose) Veins in the NE Underground Mine. Five holes drilled from the main 1611 level intersected ore-grade intercepts on the San Amado Vein, the best being hole OU-765 with one intercept of 2.0 metres grading 6.68 grams per tonne gold and 727 grams per tonne silver, or 19.89 grams per tonne gold equivalent at a gold-to-silver ratio of 55:1. The Company continues to advance the San Amado exploration drift along strike, with drilling stations being established as progress continues.

There have also been nine new ore-grade drill intercepts from the underground mine on the San Jose Vein, below the 1580 metre elevation, below the historic Belen Mine, with the best being hole OU-750, with one intercept of 2.2 metres grading 3.54 grams per tonne gold and 404 grams per tonne silver, or 10.89 grams per tonne grams per tonne gold equivalent at a gold-to-silver ratio of 55:1. Three of the Belen holes (OU-750, OU-751, and OU-776) intersected a very well mineralized and previously unknown shear near existing infrastructure. Based on the results of this program, a previously undefined portion of the vein measuring approximately 110 metres in strike by 85 metres along dip now appears economical to mine and has warranted the extension of the sublevels in this area. These results augment previously reported results of drilling below the historic Belen Mine (Table 1). In summary, the San Jose drilling program, including Belen, has produced excellent results over 310 metres of strike length and 85 metres down dip.

With the advancement of the Santa Eduviges ore access ramp additional drilling platforms are being established to further define orebody. An additional underground drill rig has been mobilized to add to the approximately 15,200 metres drilled between April 2009 and February 2010.

    
    Las Molinas SW - A New Discovery
    -------------------------------------------------------------------------
    

The Ocampo surface drilling program has made a new discovery of ore-grade mineralization in the Las Molinas SW target, just north of the mill installations. The mineralization is hosted in a complex network of veins and will require additional drilling to determine their geometry. The best intercepts on this target area to date were in drill hole OG-904 which had one intercept of 3.0 metres grading 4.25 grams per tonne gold and 153 grams per tonne silver, or 7.04 grams per tonne gold equivalent at a gold-to-silver ratio of 55:1. Further down the same hole there was an intercept of 0.5 metres grading 9.24 grams per tonne gold and 426 grams per tonne silver, or 16.99 grams per tonne gold equivalent at a gold-to-silver ratio of 55:1.

    
    Santa Juliana Vein Drilling
    -------------------------------------------------------------------------
    

The Company also recently completed five core holes on the Santa Juliana vein. Historical information provides some indication that this was one of the richest veins in the district. The best intercept was drill hole OG-926 which had an intercept of 1.5 metres grading 4.89 grams per tonne gold and 608 grams per tonne silver, or 15.94 grams per tonne gold equivalent at a gold-to-silver ratio of 55:1. Other holes completed in this area were also highly anomalous. Based on these initial positive results the Company plans to complete further drilling here later in the season.

    
    Select Ocampo Drill Results
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Select Drill Results - Ocampo (April 2010)(1)(2)(3)(4)
    -------------------------------------------------------------------------

    Hole     From(m)  To (m)  Length (m)  Gold  Silver  Au eq.(55:1)   Target
    -------------------------------------------------------------------------
    OU-773    138.4   139.2         0.8   2.94     471        11.50     Belen
    -------------------------------------------------------------------------
    OU-750    155.9   158.0         2.2   3.54     404        10.89     Belen
    -------------------------------------------------------------------------
    OU-765     92.5    94.4         2.0   6.68     727        19.89 San Amado
    -------------------------------------------------------------------------
    OU-768     77.0    85.0         8.0   2.06     127         4.37 San Amado
    -------------------------------------------------------------------------
    OG-904     31.5    34.5         3.0   4.25     153         7.04       Las
                                                                      Molinas
                                                                           SW
    -------------------------------------------------------------------------
    OG-904     87.5    88.0         0.5   9.24     426        16.99       Las
                                                                      Molinas
                                                                           SW
    -------------------------------------------------------------------------
    OG-926    117.0   118.5         1.5   4.89     608        15.94      Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    OG-928    107.3   109.5         2.3   1.77     190         5.22      Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    (1) See Table 1&2 for additional 2010 drill results
    (2) The Ocampo surface exploration information has been reviewed by
        Qualified Person, Mr. Ramon Luna. All sample analyses for Ocampo were
        performed by Chemex Laboratories, based in Vancouver, British
        Columbia, or in the Ocampo mine lab, using standard fire assay
        procedures. True widths have not been calculated.
    (3) The Ocampo underground exploration information has been reviewed by
        Qualified Person, Mr. Ian Hardesty. All sample analyses for Ocampo
        were performed by Chemex Laboratories, based in Vancouver, British
        Columbia, or in the Ocampo mine lab, using standard fire assay
        procedures. True widths have not been calculated.
    (4) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    EL CUBO EXPLORATION UPDATE
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In late 2009, the Company launched a strategic exploration program at the El Cubo mine after more than a decade of relative inactivity. The program initially identified 16 new exploration drill targets that total over 15 kilometres of cumulative lineal strike length. Subsequent work has prioritized these targets for a 44,000 metre drilling program. The Company completed 11,649 metres of drilling on these targets in 2009 and an additional 13,098 metres of drilling in 2010 for a total of 24,747 metres of drilling. Total drilling to date has included 6,872 metres of underground drilling and 17,875 metres of surface drilling. The Company presently has five surface core rigs working and two underground core rigs at El Cubo.

    
                 2009-2010 Planned El Cubo Drilling Program
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    Area                                   Drilled Metres     Planned Metres
    -------------------------------------------------------------------------
    Underground Drilling                            6,872             15,000
    -------------------------------------------------------------------------
    Surface Drilling                               17,875             44,000
    -------------------------------------------------------------------------
    New Target Drilling                            24,747             59,000
    -------------------------------------------------------------------------
    Total Metres
    

Drilling at El Cubo has discovered gold-silver mineralization on the South Villalpando target area, 800 metres south of any past mining or drilling and continues to identify encouraging vein widths and grades at the Puertocito Target. (Table 2)

    
    Villalpando Sur Drilling
    -------------------------------------------------------------------------
    

The drilling program at El Cubo continues to demonstrate the potential of this asset. In April, another new target zone with ore-grade values at the Villalpando Sur target was identified for follow up work. The Villalpando Sur is one of the largest exploration targets in El Cubo with some three (3) lineal kilometers of untested strike length.

Recent results from two in holes in this target include:

    
    - Hole C-531 with 2.0 metres grading 0.91 grams per tonne gold and
      94 grams per tonne silver, or 2.61 grams per tonne gold equivalent at a
      gold-to-silver ratio of 55:1, from 178.5 metres
    - Hole C-537 with 1.5 metres grading 2.84 grams per tonne gold and
      197 grams per tonne silver, or 6.43 grams per tonne gold equivalent
      at a gold-to-silver ratio of 55:1, from 33.0 metres

    Puertecito Target
    -------------------------------------------------------------------------
    

In mid-2009, geologic mapping and compilation efforts by the Company's geologists determined that there is a major fault structure in the north part of the Villalpando vein system that was previously not considered a major target. This fault, called the Puertocito Fault, may actually be the northward continuation of the Villalpando Vein (the major vein in the district), not the Barragana vein as was previously thought. Previous drilling in this area was primarily angled to the southwest to test the northeast-dipping Barragana trend - but sub-parallel to the Puertocito Fault. New drill testing by Gammon in 2010 has now cut the Puertocito Fault at near right-angles to its dip, and has shown that just 70 metres in the subsurface, the structure contains classic banded epithermal veining and hydrothermal breccia textures with local patches of sulfides - and the first drill hole in the target returned impressive widths and grades. The Company presently has two drill rigs working on this target. In April, drilling continued drilling on the Puertecito target in the northern part of the district that has identified an additional ore-grade intercept:

    
    - Hole C-530 with 13.9 metres grading 0.71 grams per tonne gold and
      12 grams per tonne silver, or 0.94 grams per tonne gold equivalent at a
      gold-to-silver ratio of 55:1, from 244.0 metres
      - including 1.3 metres grading 2.81 grams per tonne gold and 37 grams
        per tonne silver, or 3.47 grams per tonne gold equivalent at a gold-
        to-silver ratio of 55:1, from 256.6 metres

    Select El Cubo Drill Results
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Select Drill Results - El Cubo (April 2010)(1)(2)(3)
    -------------------------------------------------------------------------
    Hole     From(m)  To (m)  Length (m)  Gold  Silver  Au eq.(55:1)   Target
    -------------------------------------------------------------------------
    C-530     244.0   257.9        13.9   0.71      12         0.94   Puerte-
                                                                      cito
    -------------------------------------------------------------------------
    Inclu-    256.6   257.9         1.3   2.81      37         3.47   Puerte-
    ding                                                              cito
    -------------------------------------------------------------------------
    C-531     178.5   180.5         2.0   0.91      94         2.61   Villal-
                                                                      pando
                                                                      Sur
    -------------------------------------------------------------------------
    C-535     120.4   120.9         0.5   2.50      93         4.19   Puerte-
                                                                      cito
    -------------------------------------------------------------------------
    C-537      33.0    34.5         1.5   2.84     197         6.43   Villal-
                                                                      pando
                                                                      Sur
    -------------------------------------------------------------------------
    (1) See Table 3 for additional 2010 drill results
    (2) The El Cubo exploration information has been reviewed by Qualified
        Person, Mr. Peter Drobeck. All sample analyses for El Cubo were
        performed by SGS Laboratories, based in Mississauga, Ontario, or in
        the El Cubo mine lab, using standard fire assay procedures (and with
        ICP finish for samples completed at SGS). True widths have not been
        calculated.
    (3) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    GUADALUPE Y CALVO EXPLORATION UPDATE
    -------------------------------------------------------------------------
    

The Company has also recently signed a contract to begin drilling at its Guadalupe y Calvo project in southern Chihuahua in an effort to extend the known mineralization at depth and along strike from the existing mineralization. Metallurgical testing has been initiated to support completion of a scoping study in Q3, 2010.

    
    MEZQUITE PROJECT EXPLORATION UPDATE
    -------------------------------------------------------------------------
    

In addition to the positive results at the Company's existing projects, Gammon has developed a new grass roots exploration program for the recently acquired Mezquite Project in the Penasquito region. The geology of this target consists of breccia pipes and skarns with anomalous gold-lead-zinc on surface next to a covered valley that lies astride a major geomorphic lineament. The Company has just completed a ground magnetic survey over the project and is planning to begin a ground IP geophysical program in May. These two data sets will be used to select drill holes to test this exploration target.

Note: The Ocampo surface exploration information has been reviewed by Qualified Person, Mr. Peter Drobeck. All sample analyses for Ocampo were performed by Chemex Laboratories, based in Vancouver, British Columbia, or in the Ocampo mine lab, using standard fire assay procedures. True widths have not been calculated.

Note: The Ocampo underground exploration information has been reviewed by Qualified Person, Mr. Ian Hardesty. All sample analyses for Ocampo were performed by Chemex Laboratories, based in Vancouver, British Columbia, or in the Ocampo mine lab, using standard fire assay procedures. True widths have not been calculated.

Note: The El Cubo exploration information has been reviewed by Qualified Person, Mr. Peter Drobeck. All sample analyses for El Cubo were performed by SGS Laboratories, based in Mississauga, Ontario, or in the El Cubo mine lab, using standard fire assay procedures (and with ICP finish for samples completed at SGS). True widths have not been calculated.

This press release sets out the gold and silver grades found in the samples taken from various targets. Not all of these targets have been categorized as a mineral resource deposit under applicable Canadian mineral resource reporting standards, and it is uncertain if further exploration will result in these targets being delineated as mineral resources. The grades encountered so far should not be taken as representative of the ore bodies in question as there has been insufficient exploration to define a mineral resource, and such grades may not prove representative of the deposits if and when the same are delineated as mineral resources.

About Gammon Gold

Gammon Gold Inc. is a mid-tier gold and silver producer with properties in Mexico. The Company's flagship Ocampo Project in Chihuahua State achieved commercial production in January 2007. Gammon Gold also operates its El Cubo mine in Guanajuato State and has the promising Guadalupe y Calvo development property in Chihuahua State. The Company recently completed option purchase agreements to acquire the Mezquite Project in Zacatecas State, Mexico and the Venus Project located north of the Ocampo mine in Chihuahua State, Mexico. The Company is based in Halifax, Nova Scotia with an Executive Office in Toronto, Ontario.

    
                             Cautionary Statement
    

Cautionary Note to US Investors - The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This press release uses certain terms, such as "measured," "indicated," and "inferred" "resources," that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC. US Investors are urged to consider closely the disclosure in Gammon Gold's Annual Report on Form 40-F, which may be secured from Gammon Gold, or from the SEC's website at http://www.sec.gov/edgar.shtml.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Certain statements included herein, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "forecast", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding its financial exposure to litigation, targets, estimates and assumptions in respect of gold and silver production and prices,, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades, recovery rates, future financial or operating performance, margins, operating and exploration expenditures, costs and timing of completion of the Ocampo expansion program and improvements to the heap leach pad, costs and timing of the development and commencement of production of new deposits, costs and timing of construction, costs and timing of future exploration and reclamation expenses including, anticipated 2010 results, operating performance projections for 2009 and 2010, our ability to fully fund our business model internally, 2010 gold and silver production and the cash and operating costs associated therewith, the ability to achieve productivity and operational efficiencies, the ability to access grid power at Ocampo, further reduction in the open pit stripping ratio and the timing of each thereof. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, known and unknown uncertainties and risks relating to additional funding requirements, reserve and resource estimates, commodity prices, hedging activities, exploration, development and operating risks, illegal miners, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs, restrictions in the Company's loan facility, dependence on key employees, possible variations of ore grade or recovery rates, failure of plant, equipment or process to operate as anticipated, accidents and labour disputes. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

    
    TABLE 1: Ocampo Underground Drill Results 2010
    -------------------------------------------------------------------------
    Hole             From      To  Length    Gold  Silver  Gold Eq.
                       (m)     (m)     (m)   (g/t)   (g/t)  (55:1)(1)   Vein
    -------------------------------------------------------------------------
    OU-727*        21.5    22.1     0.6    2.60       3    2.66         Sta
                                                                     Eduviges
    -------------------------------------------------------------------------
    OU-727*        86.1    86.6     0.5    2.22       4    2.29         Sta
                                                                     Eduviges
    -------------------------------------------------------------------------
    OU-727*        89.9    90.4     0.5    2.25      39    2.95         Sta
                                                                     Eduviges
    -------------------------------------------------------------------------
    OU-727*       111.0   111.5     0.5    4.26     108    6.22         Sta
                                                                     Eduviges
    -------------------------------------------------------------------------
    OU-657          130.4   132.0     1.6    9.67     375   16.48       Belen
    -------------------------------------------------------------------------
    OU-661          102.5   105.0     2.5    2.01     175    5.20       Belen
    -------------------------------------------------------------------------
    OU-717          164.3   167.9     3.6   19.51     138   22.03       Belen
    -------------------------------------------------------------------------
    OU-719          138.5   149.3    10.8    6.50     803   21.11       Belen
    -------------------------------------------------------------------------
    OU-729*       132.6   134.4     1.8    1.06     206    4.81       Belen
    -------------------------------------------------------------------------
    OU-729*       136.0   138.4     2.3    0.08     145    2.72       Belen
    -------------------------------------------------------------------------
    OU-729*       140.2   141.1     0.9    0.06     121    2.26       Belen
    -------------------------------------------------------------------------
    OU-735*       149.5   151.0     1.5    1.27      99    3.07       Belen
    -------------------------------------------------------------------------
    OU-737A         180.2   181.8     1.6    1.17     115    3.26       Jesus
                                                                        Maria
    -------------------------------------------------------------------------
    OU-737A*      190.2   190.8     0.6    3.47      45    4.29       Jesus
                                                                        Maria
    -------------------------------------------------------------------------
    OU-744          135.2   136.2     1.0    1.04     114    3.11       Belen
    -------------------------------------------------------------------------
    OU-744          138.0   140.0     2.0    1.73     159    4.62       Belen
    -------------------------------------------------------------------------
    OU-744          142.2   142.8     0.7    3.24     303    8.75       Belen
    -------------------------------------------------------------------------
    OU-746*        63.5    67.0     3.5    1.39      99    3.19       Belen
    -------------------------------------------------------------------------
    OU-746*       125.3   125.9     0.6    2.41     158    5.28       Belen
    -------------------------------------------------------------------------
    OU-747          147.9   151.3     3.5    4.61     335   10.71       Belen
    -------------------------------------------------------------------------
    OU-748*       171.7   173.9     2.2    0.43     142    3.01       Belen
    -------------------------------------------------------------------------
    OU-750*        53.4    57.0     3.6    2.39     243    6.80       Belen
    -------------------------------------------------------------------------
    OU-750*       155.9   158.0     2.2    3.54     404   10.89       Belen
    -------------------------------------------------------------------------
    OU-751*        49.0    50.0     1.0    3.61      26    4.08       Belen
    -------------------------------------------------------------------------
    OU-755          101.0   102.2     1.3    2.86      51    3.79   Esperanza
    -------------------------------------------------------------------------
    OU-764*        80.2    87.0     6.8    2.84     148    5.54         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-765*        92.5    94.4     2.0    6.68     727   19.89         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-766*        73.0    74.0     1.0    1.26      68    2.50         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-766*        80.4    80.9     0.5    2.18     130    4.54         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-767*        78.6    79.4     0.8    5.06     144    7.68         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-767*       100.5   101.3     0.8    1.10      82    2.59         San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-768*        77.0    85.0     8.0    2.06     127    4.37        San
                                                                        Amado
    -------------------------------------------------------------------------
    OU-773*       138.4   139.2     0.8    2.94     471   11.50       Belen
    -------------------------------------------------------------------------
    OU-773*       145.9   146.6     0.8    4.67      57    5.70       Belen
    -------------------------------------------------------------------------
    OU-775*       129.5   133.7     4.3    1.41      90    3.05       Belen
    -------------------------------------------------------------------------
    OU-776*        45.0    45.9     0.9    1.12      94    2.82       Belen
    -------------------------------------------------------------------------
    OU-776*       183.4   186.6     3.2    1.75     156    4.59       Belen
    -------------------------------------------------------------------------
    * Indicates drill results not been previously released
    (1) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    Note: The Ocampo underground exploration information has been reviewed by
          Qualified Person, Mr. Ian Hardesty. All sample analyses for Ocampo
          were performed by Chemex Laboratories, based in Vancouver, British
          Columbia, or in the Ocampo mine lab, using standard fire assay
          procedures. True widths have not been calculated.


    TABLE 2: Ocampo Surface Drill Results 2010
    -------------------------------------------------------------------------
    Hole             From      To  Length    Gold  Silver  Gold Eq.
                       (m)     (m)     (m)   (g/t)   (g/t)  (55:1)(1)   Vein
    -------------------------------------------------------------------------
    OG-865          126.6   130.1     3.5    0.36      22    0.76   San Amado
    -------------------------------------------------------------------------
    OG-865          141.8   144.8     3.1    0.16      59    1.24   San Amado
    -------------------------------------------------------------------------
    OG-865          148.8   151.9     3.1    0.43      27    0.92   San Amado
    -------------------------------------------------------------------------
    OG-865          178.2   180.2     2.0    0.21      24    0.64   San Amado
    -------------------------------------------------------------------------
    OG-866           67.0    68.7     1.7    0.86       9    1.02    La Leona
    -------------------------------------------------------------------------
    OG-866          106.7   107.4     0.7    1.02      41    1.77    La Leona
    -------------------------------------------------------------------------
    OG-866          149.7   150.3     0.6    1.06       1    1.08    La Leona
    -------------------------------------------------------------------------
    OG-866          173.5   174.5     1.0    0.46      52    1.40    La Leona
    -------------------------------------------------------------------------
    OG-867           29.0    32.0     3.0    0.70       1    0.72   La Rosita
    -------------------------------------------------------------------------
    OG-867           43.0    45.0     2.0    0.41       1    0.43   La Rosita
    -------------------------------------------------------------------------
    OG-867           47.0    48.0     1.0    0.31       2    0.34   La Rosita
    -------------------------------------------------------------------------
    *OG-868         0.0     0.0     0.0    0.00       0    0.00  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-869           81.4    83.5     2.1    1.40       9    1.57    La Leona
    -------------------------------------------------------------------------
    OG-869          116.8   118.8     2.0    1.11       9    1.27    La Leona
    -------------------------------------------------------------------------
    OG-869          124.3   125.4     1.1    1.49      24    1.93    La Leona
    -------------------------------------------------------------------------
    OG-869          131.0   131.5     0.5    0.53      16    0.82    La Leona
    -------------------------------------------------------------------------
    OG-870           93.9    95.1     1.1    0.26       3    0.31   Los Monos
    -------------------------------------------------------------------------
    OG-871          122.2   124.0     1.8    0.10       7    0.23  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-871          288.0   289.5     1.5    1.68     122    3.89  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-871          300.9   302.0     1.1    0.20      16    0.49  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-872          103.8   105.8     2.0    0.92       5    1.01    La Leona
    -------------------------------------------------------------------------
    OG-873           81.7    82.7     1.0    0.46       1    0.48   Los Monos
    -------------------------------------------------------------------------
    OG-874           63.6    64.1     0.5    0.36       8    0.50    La Leona
    -------------------------------------------------------------------------
    OG-874           95.3    95.8     0.5    7.12     154    9.92    La Leona
    -------------------------------------------------------------------------
    *OG-875         0.0     0.0     0.0    0.00       0    0.00  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-876          113.0   116.3     3.3    4.53       9    4.70   Los Monos
    -------------------------------------------------------------------------
    *OG-877         0.0     0.0     0.0    0.00       0    0.00    La Leona
    -------------------------------------------------------------------------
    OG-878          121.0   121.5     0.5    0.27      13    0.51    La Leona
    -------------------------------------------------------------------------
    OG-879           99.9   100.4     0.6    0.29       2    0.32   Los Monos
    -------------------------------------------------------------------------
    OG-879          104.0   107.8     3.8    0.38       1    0.40   Los Monos
    -------------------------------------------------------------------------
    OG-880           37.0    38.5     1.5    0.63       2    0.66  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-881          116.1   116.8     0.7    2.62       4    2.69   Los Monos
    -------------------------------------------------------------------------
    OG-882           83.6    86.6     3.0    0.18      12    0.39  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-882          224.0   228.3     4.3    0.47      57    1.50  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-883           47.8    56.2     8.4    0.91       5    1.00  Picacho SE
    -------------------------------------------------------------------------
    OG-883           81.5    84.7     3.2    5.34     132    7.74  Picacho SE
    -------------------------------------------------------------------------
    OG-883           95.5    96.9     1.4    0.94       2    0.97  Picacho SE
    -------------------------------------------------------------------------
    OG-883           99.0   102.2     3.2    0.36      57    1.41  Picacho SE
    -------------------------------------------------------------------------
    OG-883          103.3   104.3     1.0    2.27      87    3.85  Picacho SE
    -------------------------------------------------------------------------
    OG-883          109.3   109.8     0.5    0.31       2    0.34  Picacho SE
    -------------------------------------------------------------------------
    OG-883          112.9   115.9     3.0    0.41       5    0.51  Picacho SE
    -------------------------------------------------------------------------
    OG-884           55.1    55.6     0.5    5.78      24    6.22   Los Monos
    -------------------------------------------------------------------------
    OG-884           99.7   101.6     1.9    1.95     116    4.06   Los Monos
    -------------------------------------------------------------------------
    OG-886          133.5   139.3     5.8    9.01     309   14.63  Picacho SE
    -------------------------------------------------------------------------
    *OG-887       203.8   204.6     0.8    2.28       4    2.35  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-888           68.0    70.0     2.0    0.98      61    2.08   San Amado
    -------------------------------------------------------------------------
    OG-888           99.0   100.6     1.6    0.90       1    0.92   San Amado
    -------------------------------------------------------------------------
    *OG-889         0.0     0.0     0.0    0.00       0    0.00  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-890           12.8    16.3     3.5    0.23      19    0.58  Picacho SE
    -------------------------------------------------------------------------
    OG-890           21.2    28.2     7.0    0.90      87    2.49  Picacho SE
    -------------------------------------------------------------------------
    OG-890           29.3    32.9     3.7   13.04      11   13.25  Picacho SE
    -------------------------------------------------------------------------
    OG-890           50.8    58.1     7.4    0.81      37    1.49  Picacho SE
    -------------------------------------------------------------------------
    OG-890           66.2    70.9     4.8    0.68      23    1.10  Picacho SE
    -------------------------------------------------------------------------
    OG-891            0.0    18.9    18.9    1.51      51    2.45         Las
                                                                      Molinas
    -------------------------------------------------------------------------
    OG-891           30.8    33.5     2.7    0.44      20    0.80         Las
                                                                      Molinas
    -------------------------------------------------------------------------
    *OG-892         0.0     0.0     0.0    0.00       0    0.00  Altagracia
                                                                   _Magdalena
    -------------------------------------------------------------------------
    OG-893           26.5    31.0     4.5    0.25      18    0.58         Las
                                                                      Molinas
    -------------------------------------------------------------------------
    OG-893           45.3    72.4    27.1    1.36      44    2.16         Las
                                                                      Molinas
    -------------------------------------------------------------------------
    *OG-894         0.0     0.0     0.0    0.00       0    0.00     El Rayo
    -------------------------------------------------------------------------
    *OG-894         0.0     0.0     0.0    0.00       0    0.00     El Rayo
    -------------------------------------------------------------------------
    *OG-895         9.2    10.6     1.5   39.00     264   43.80  Picacho SE
    -------------------------------------------------------------------------
    *OG-895        44.7    53.5     8.8    0.60      15    0.87  Picacho SE
    -------------------------------------------------------------------------
    *OG-895        67.3    71.2     4.0    3.46       5    3.54  Picacho SE
    -------------------------------------------------------------------------
    *OG-895        95.7   100.8     5.0    0.81      46    1.65  Picacho SE
    -------------------------------------------------------------------------
    *OG-895       109.0   113.9     5.0    0.32      11    0.52  Picacho SE
    -------------------------------------------------------------------------
    *OG-897         0.0     0.0     0.0    0.00       0    0.00     El Rayo
    -------------------------------------------------------------------------
    OG-898          221.8   222.8     0.9    0.48      39    1.19     El Rayo
    -------------------------------------------------------------------------
    *OG-900        23.6    61.8    38.3    0.54      34    1.16     Picacho
    -------------------------------------------------------------------------
    *OG-900        66.8    84.6    17.8    0.31      18    0.63     Picacho
    -------------------------------------------------------------------------
    OG-901           64.5    65.7     1.2    1.07       4    1.13         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-902        10.7    40.7    30.0    0.53      39    1.25     Picacho
    -------------------------------------------------------------------------
    *OG-904        31.5    34.5     3.0    4.25     153    7.04         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-904        35.5    36.8     1.3    1.10       1    1.12         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-904        87.5    88.0     0.5    9.24     426   16.99         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-908        29.7    33.4     3.7    0.55       5    0.64         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-908        53.0    54.0     1.0    2.85      52    3.80         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-908       139.2   141.4     2.3    0.55       1    0.58         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-909        51.8    54.0     2.2    2.87     179    6.13  Altagracia
                                                                    _El Risco
    -------------------------------------------------------------------------
    *OG-910        36.0    43.8     7.8    1.95      43    2.74         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-910       163.5   179.0    15.5    0.30       7    0.43         Las
                                                                   Molinas SW
    -------------------------------------------------------------------------
    *OG-911        58.7    67.5     8.8    0.97     143    3.57  Altagracia
                                                                    _El Risco
    -------------------------------------------------------------------------
    *OG-914         4.1     6.9     2.8   11.43     882   27.46         PdG
    -------------------------------------------------------------------------
    *OG-926       117.0   118.5     1.5    4.89     608   15.94        Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    *OG-928       107.3   109.5     2.3    1.77     190    5.22        Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    *OG-931       174.0   175.1     1.1    0.98     162    3.92        Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    *OG-934       174.0   176.4     2.3    0.87     139    3.41        Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    *OG-938        38.0    39.0     1.0    1.03     172    4.15        Sta.
                                                                      Juliana
    -------------------------------------------------------------------------
    * Indicates drill results not been previously released
    (1) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    Note: The Ocampo surface exploration information has been reviewed by
          Qualified Person, Mr. Peter Drobeck. All sample analyses for Ocampo
          were performed by Chemex Laboratories, based in Vancouver, British
          Columbia, or in the Ocampo mine lab, using standard fire assay
          procedures. True widths have not been calculated.


    Table 3: El Cubo Drill Results  2010
    -------------------------------------------------------------------------
    Hole             From      To  Length    Gold  Silver  Gold Eq.
                       (m)     (m)     (m)   (g/t)   (g/t)  (55:1)(1)   Vein
    -------------------------------------------------------------------------
    C-506            62.3    85.8    23.5    0.17       7    0.30  Dolores SE
    -------------------------------------------------------------------------
    C-509           103.1   108.8     5.7    0.92      31    1.48  Dolores SE
    -------------------------------------------------------------------------
    C-510           115.7   131.5    15.8    1.05      48    1.92  Dolores SE
    -------------------------------------------------------------------------
    C-511           152.3   165.3    13.0    0.49      16    0.77  Dolores SE
    -------------------------------------------------------------------------
    C-519            56.3    56.9     1.3    2.20     128    4.53     Capulin
    -------------------------------------------------------------------------
    C-520           207.3   210.9     3.6    0.20      53    1.16 Villalpando
                                                                      Capulin
    -------------------------------------------------------------------------
    C-523            87.4    88.0     0.7    7.92     244   12.36  Puertecito
    -------------------------------------------------------------------------
    C-523            94.8    99.7     4.9   12.49     188   15.91  Puertecito
    -------------------------------------------------------------------------
    C-524            40.3    41.2     0.9    2.10     139    4.63  Puertecito
    -------------------------------------------------------------------------
    C-524           137.2   137.7     0.5   17.00      35   17.64  Puertecito
    -------------------------------------------------------------------------
    C-524           152.3   152.8     0.6    1.30     134    3.74  Puertecito
    -------------------------------------------------------------------------
    C-525            98.2   101.5     3.3   10.64     181   13.93  Puertecito
    -------------------------------------------------------------------------
    C-527           179.2   180.0     0.8    2.96       5    3.05  Puertecito
    -------------------------------------------------------------------------
    *C-529        149.5   150.5     1.0    0.31       5    0.40  Puertecito
    -------------------------------------------------------------------------
    *C-530        244.0   257.9    13.9    0.71      12    0.94  Puertecito
    -------------------------------------------------------------------------
    Including       256.6   257.9     1.3    2.81      37    3.47  Puertecito
    -------------------------------------------------------------------------
    *C-531        178.5   180.5     2.0    0.91      94    2.61 Villalpando
                                                                          Sur
    -------------------------------------------------------------------------
    *C-535        120.4   120.9     0.5    2.50      93    4.19  Puertecito
    -------------------------------------------------------------------------
    *C-537         33.0    34.5     1.5    2.84     197    6.43 Villalpando
                                                                          Sur
    -------------------------------------------------------------------------
    CM-29            51.4    75.0    23.6    1.34      44    2.15       Fenix
    -------------------------------------------------------------------------
    CM-30            41.8    74.4    32.6    0.47      30    1.02       Fenix
    -------------------------------------------------------------------------
    CM-30            81.4   108.5    27.1    0.70      28    1.21       Fenix
    -------------------------------------------------------------------------
    CM-31            29.0    37.8     8.8    0.35      35    0.99       Fenix
    -------------------------------------------------------------------------
    CM-31            56.0    67.5    11.5    0.17      10    0.35       Fenix
    -------------------------------------------------------------------------
    CM-31            76.7    82.9     6.2    4.42      26    4.90       Fenix
    -------------------------------------------------------------------------
    CM-31           117.8   135.5    17.7    0.38      18    0.70       Fenix
    -------------------------------------------------------------------------
    CM-32            22.7    23.4     0.7    6.23     185    9.59       Fenix
    -------------------------------------------------------------------------
    CM-33            51.6    60.4     8.8    1.34      35    1.97       Fenix
    -------------------------------------------------------------------------
    CM-33            81.8    89.7     7.9    1.66      39    2.36       Fenix
    -------------------------------------------------------------------------
    CM-34           148.4   155.5     7.1    0.43       9    0.60       Fenix
    -------------------------------------------------------------------------
    CM-36            75.3    91.2    15.9    0.65      56    1.68       Fenix
    -------------------------------------------------------------------------
    CM-37           142.6   154.4    11.8    0.47       9    0.64       Fenix
    -------------------------------------------------------------------------
    CM-38           112.5   115.7     3.2    0.61      16    0.91       Fenix
    -------------------------------------------------------------------------
    CM-38           118.9   128.0     9.1    0.77      18    1.10       Fenix
    -------------------------------------------------------------------------
    CM-39           200.0   229.4    29.4    1.13      12    1.35       Fenix
    -------------------------------------------------------------------------
    * Indicates drill results not been previously released
    (1) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    Note: The El Cubo exploration information has been reviewed by Qualified
          Person, Mr. Peter Drobeck. All sample analyses for El Cubo were
          performed by SGS Laboratories, based in Mississauga, Ontario, or in
          the El Cubo mine lab, using standard fire assay procedures (and
          with ICP finish for samples completed at SGS). True widths have not
          been calculated.

    Table 4: Venus Sampling Results 2010

    -------------------------------------------------------------------------
                                                  Gold
                   Width      Gold    Silver        Eq.
    Sample            (m)     (g/t)     (g/t)    (55:1)(1)         Structure
    -------------------------------------------------------------------------
    V-1              2.1      0.18         5      0.27    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-2              1.5      0.09         8      0.22    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-3              2.0      0.04         2      0.08    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-4              3.0      0.12         6      0.24    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-5              3.0      0.08         2      0.12    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-6              3.0      0.18        10      0.37    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-7              3.0      0.16        11      0.35    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-8              3.0      0.07         4      0.14    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-9              1.0      0.25         5      0.34    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-10             3.0      1.08         9      1.23    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-11             2.4      0.51         4      0.58    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-12             2.6      1.46         9      1.62    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-13             1.8      0.89         4      0.96    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-14             1.8      2.84         8      2.99    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-15             1.5      4.01        41      4.76    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-16             1.1      0.03         2      0.07    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-17             0.8      0.38         4      0.45    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-18             0.8      2.64         6      2.75    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-19             1.5      1.34         7      1.47    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-20             1.3      1.28        12      1.49    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-21             1.0      0.17         8      0.32    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-22             3.2      0.01         1      0.03    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-23             1.5      0.14         8      0.28    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-24             1.4      0.67         2      0.70    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-25             0.9      0.20         3      0.26    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-26             1.5      0.06         3      0.11    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-27             3.0      0.52        13      0.75    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-28             3.0      0.16         8      0.31    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-29             2.9      0.21        15      0.47    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-30             2.0      0.04         2      0.08    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-31             2.0      0.31        11      0.51    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-32             1.3      0.07         3      0.12    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-33             2.0      0.37         6      0.48    Roncesvalle (Lower
                                                                       level)
    -------------------------------------------------------------------------
    V-34             2.3      0.53        12      0.76  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-35             3.4      0.16         3      0.21  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-36             1.9      0.13         3      0.19  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-37             2.0      0.08         6      0.19  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-38             1.5      0.12         2      0.16  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-39             2.6      0.26         1      0.28  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-40             2.8      0.26         6      0.37  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-41             3.0      0.38         1      0.40  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-46             3.0      5.37        34      5.99  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-48             4.8      1.54        10      1.71  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-49             2.9      2.19        29      2.72  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-50             2.8      2.00       192      5.49  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-51             3.6      0.52         7      0.64  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-52             1.3      0.27         7      0.39  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-53             1.8      3.36        18      3.69  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-54             1.6      0.16         8      0.30  Roncesvalle (Surface)
    -------------------------------------------------------------------------
    V-59             0.6      2.52        14      2.78      Balleza (Surface)
    -------------------------------------------------------------------------
    V-60             1.1      4.85        35      5.48      Balleza (Surface)
    -------------------------------------------------------------------------
    V-61             0.6      1.46        64      2.63      Balleza (Surface)
    -------------------------------------------------------------------------
    V-63             1.4      1.98        31      2.54      Balleza (Surface)
    -------------------------------------------------------------------------
    V-64             2.3      1.67        11      1.86      Balleza (Surface)
    -------------------------------------------------------------------------
    V-70             2.0      0.01         1      0.02      Balleza (Surface)
    -------------------------------------------------------------------------
    V-71             2.0      0.01         1      0.02      Balleza (Surface)
    -------------------------------------------------------------------------
    V-62             n/a     11.00       370     17.73        Balleza (Dumps)
    -------------------------------------------------------------------------
    V-65             n/a      0.03         1      0.05        Balleza (Dumps)
    -------------------------------------------------------------------------
    V-65A            n/a      9.93       318     15.71        Balleza (Dumps)
    -------------------------------------------------------------------------
    V-66             3.0      0.06         2      0.09     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-67             3.0      0.06         0      0.07     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-68             2.0      0.07         2      0.10     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-69             3.0      0.04         1      0.05     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-72             3.0      0.02         0      0.02     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-73             1.1      0.05         1      0.07     La Boleta (Ext. W)
    -------------------------------------------------------------------------
    V-77             0.7      0.02         1      0.03    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-78             2.8      0.36         1      0.38    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-80             2.0      0.16         1      0.18    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-81             1.7      0.95         2      0.98    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-82             0.9     12.70        28     13.21    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-85             1.8      1.74        58      2.79    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-86             1.1      3.57         7      3.69    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-87             2.0      0.14        12      0.35    La Boleta (Ext. SE)
    -------------------------------------------------------------------------
    V-79             n/a      8.98       100     10.80      La Boleta (Dumps)
    -------------------------------------------------------------------------
    V-83             n/a      7.76        94      9.47      La Boleta (Dumps)
    -------------------------------------------------------------------------
    V-84             n/a      4.26        34      4.87      La Boleta (Dumps)
    -------------------------------------------------------------------------
    (1) Metallurgical recoveries and net smelter returns are assumed to be
        100%

    Please click here for Ocampo and El Cubo Site Maps
    http://files.newswire.ca/258/sitemaps.docx
    

SOURCE GAMMON GOLD INC.

For further information: For further information: Peter Drobeck, Sr. VP Exploration & Business Development, Gammon Gold Inc., (416) 646-3825; Anne Day, Director of Investor Relations, Gammon Gold Inc., (902) 468-0614; www.gammongold.com

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