Barclays Natural Resource Investments Backs Peru-Focused Mining Management Team

Barclays Capital today announced that its Barclays Natural Resource Investments (BNRI) team is backing a predominantly Peru-focused mining management team in a start-up company, Southern Peaks Mining Ltd (SPM).

The team is led by Adolfo F. Vera, President & CEO (formerly CFO for Volcan Compañía Minera S.A.A. and Silver Eagle Mines, Inc.) who has extensive management experience in the Peruvian mining sector. Mr. Vera has established a track record of successful operational overhaul and aggressive improvements in profits and revenues in various base and precious metals operations.

SPM’s business focus will be to acquire operating or close-to-operating small- to medium-sized base and precious metals assets initially in Peru and later potentially elsewhere in Latin America. The team plans to leverage its prior experience and sound business practices to build a business via consolidation of a somewhat fragmented sector.

"It is a great honor to partner with a group like BNRI, which along with solid financial resources, makes available to SPM an unparalleled team of professionals,” said Adolfo F. Vera, CEO, SPM. "We look forward to executing our business plan and creating value for SPM and our partner BNRI.”

"We are very excited to be backing SPM’s team in the execution of what we believe is a unique and profitable business plan in the mining arena,” said David Ellis, Director, BNRI. "We believe that the team’s skills, knowledge and talent will lead to success in implementing this plan.”

About Southern Peaks Mining Ltd’s Management

Southern Peaks Mining Ltd. is a start-up business established to acquire operating or close-to-operating, small- to medium-sized base and precious metals assets initially in Peru and later potentially elsewhere in Latin America. For more information please visit www.southernpeaksmining.com or email info@southernpeaksmining.com

About Barclays Natural Resource Investments

BNRI finds and partners with best-in-class operational management teams with specific expertise and significant experience and track-record within the global natural resources sector, primarily in upstream oil & gas, upstream mining, and power, including renewables. Following substantial due diligence BNRI typically commits US$50-100m to each management team to execute their business plans. This will in general be structured as a ‘line of equity’, whereby management teams identify potential asset and transaction opportunities. Please visit www.bnri.com for more information.

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs over 23,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide. For further information about Barclays Capital, please visit our website: www.barclayscapital.com.