TVI controls an extensive 352 km² land package surrounding the Canatuan Mine that the Company refers to as the Greater Canatuan Tenement area.  The Canatuan orebody is a volcanogenic massive sulphide orebody and deposits of this type rarely occur in isolation. As such, TVI believes the potential exists for continuing extension developments, or creating “mining camps”, within the Canatuan Tenements. Initial exploration on the properties suggests that the land package includes a 40+ kilometre strike length of the type of mineralization that hosts the Canatuan orebody. Management of TVI believes that it is likely that similar Canatuan-style deposits exist within the area of the Canatuan Tenements. Any mineable ore located in the area could be economically transported to the existing Canatuan plant for processing, which would extend the life-of-mine beyond the current estimate.

In January 2010, the Company established a partnership and strategic alliance with DMCI-CERI (“DMCI”), a subsidiary of DACON Corporation. DMCI already has long standing forestry and agribusiness operations in the area. They currently maintain the roads and provide security services through their established camps. By partnering with DMCI, the costs on the exploration project going forward are expected to be significantly reduced.

In June 2010, the Company and DMCI finalized the initial work program leading to the exploration, development and production of mineral deposits in the Greater Canatuan Tenement Area. The Partners have initiated three main activities under the work program: (a) obtaining Free Prior Informed Consent from the affected indigenous communities in the area; (b) completing an airborne geophysical survey; and (c) completing the application for the Exploration Permit Application. TVI has successfully secured the endorsement of the local council and municipal authorities for the program. Once the Free Prior Informed Consent process is completed, all requirements will have been fulfilled for the issuance of the Exploration Permit. Helicopter-supported geophysical surveys are planned for September 2010.