Sulliden Exploration Inc. is a Canadian mineral exploration company focused on the development of its Shahuindo gold-silver project located 25 km north of Barrick’s Alto Chicama and 70 km south of Newmont’s Yanacocha deposits in northern Peru. The resource stands at 1.5 million ounces of gold at an average grade of 0.85 g/t Au and 35.2 million ounces of silver at an average grade of 19.83 g/t Ag, for a total gold equivalent of 2.1 million ounces of gold at a gold to silver ratio of 1:60.

Sulliden's rights to the Shahuindo project are in dispute and are the subject of extensive litigation in Peru.

Previous exploration work on the property by the Asarco group between 1995 and 1998 consisted of a $4 million drilling program including composite metallurgical testing, detailed reserve calculation and a prefeasibility study. Asarco had outlined a resource base of 29.4M tonnes @ 0.88 g/t gold and 16.2 g/t silver for a total of 825,000 oz of gold and 15 million oz of silver primarily focused on an area known as the San Jose zone.

Since acquiring the property in November 2002 for $4.13 million, Sulliden performed extensive geological mapping and surface sampling, including a first phase diamond drilling program consisting of 27 drill holes for 3,450 meters. The program successfully identified a high grade eastern extension to the San Jose strike length known as the Breccia zone, in addition to five new target areas in proximity.

An independent resource estimate was performed by Met-Chem Canada Inc. in early March 2004 based on Sulliden’s first phase drilling program together with Asarco’s previous drilling data. The estimate outlined 25,817,075 tonnes of 1.07 g/t gold and 23.97 g/t silver in the indicated category, and 8,569,150 tonnes of 0.92 g/t gold and 22.54 g/t silver in the inferred category, for a total of 1,144,076 oz of gold and 26,108,808 oz of silver.

In April 2004, Sulliden initiated the second phase drilling program designed to test the satellite extensions of the known zones earlier defined in the first phase program, as well as determine the continuity of the mineralization. Completed in early December 2004 and consisting of 54 drill holes for a total of approximately 8,500 meters of drilling, the program confirmed a large scale gold system extending over an area of 8 km x 4 km and vertically to a depth of at least 400 meters.  In addition, infill drilling at the Breccia and East zones confirmed the potential of these two zones as excellent starting pits for a large-scale, heap-leach gold and silver mining operation. It also confirmed the extension of mineralization for a strike length that can be traced virtually continuously over 6 km. These results formed the basis of a new resource estimate by Met-Chem Canada of 1.5 million ounces of gold and 35.2 million ounces of silver, for a total gold equivalent of 2.1 million ounces of gold - an increase in the property’s total gold and silver resource by 31% and 35% respectively. Hence Sulliden’s two exploration programs totalling approximately 12,000 meters of drilling have virtually doubled the resource base from that outlined by Asarco and Southern Peru in the 1990’s based on 20,000 meters of drilling. Sulliden also holds a separate option to acquire up to 66% on 1,900 hectares of adjacent lands to the northwest known as the Vikingo claims.

Sulliden also signed a strategic technical cooperation agreement with Aruntani SAC, southern Peru’s largest private gold producer. A scoping study is being compiled by Aruntani, to develop Shahuindo into a heap-leach gold/silver producer. Aruntani is widely recognized for its expertise in the design, construction and operation of heap leach gold mines. In addition, Sulliden signed an agreement with Aruntani to acquire up to 50% of the Torrine gold project, located within Aruntani’s gold camp of over 75,000 hectares in southern Peru.

Sulliden currently has 72,607,144 issued and outstanding common shares (83,378,394 shares fully diluted), working capital of approximately $2 million and no long term debt.

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