The property consists of four discrete blocks of mineral exploitation concessions
covering 6,438 hectares. The concessions are 100%-owned by Great Panther's Mexican
subsidiary, Minera Mexicana El Rosario, S.A. de C.V.
In February of 2005, MMR exercised its option to earn a 100% interest in the core
concessions. The surrounding concessions were staked by the Company and are also
owned 100%. There is no underlying Net Smelter Royalty on the property.
The Topia Mines are managed by Ing. Javier Ramirez Vargas. Robert F. Brown, P.
Eng., Vice President of Exploration for the Company is the Qualified Person for both
the Guanajuato mine and the Topia mine, under the meaning of NI 43-101. In addition, Ing. Juan Manuel Flores, oversees all aspects of Great Panther Silver's
mines relating to mining and metallurgy.