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MMDC

Marcventures Mining and Development Corporation (MMDC) is a wholly owned subsidiary of Marcventures Holdings Inc. (MHI) that owns a nickel mine operating in the Municipalities of Cantilan, Carrascal and Madrid in the Province of Surigao del Sur under a Mineral Production Sharing Agreement (MPSA) 016-93- XIII covering an area of 4,799 hectares. MMDC has performed exploration work covering 1,659 hectares and conducted mining operations covering 197.5 hectares of its MPSA area. The primary mineral extracted by MMDC from its MPSA contracted area is nickel ore, which MMDC sells to third parties by direct shipment. MMDC's main market is China; however, recent marketing efforts may allow it to ship nickel ore to new buyers from Japan and other Asian countries.