Exhibit 99.2 - Filed by newsfilecorp.com
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1.
Name and Address of Issuer
DORATO RESOURCES INC. (the Issuer)
Suite 1920
1188 West Georgia Street
Vancouver, B.C. V6E 4A2
Item 2.
Date of Material Change
April 6, 2011
Item 3.
News Release
The date of the press release issued pursuant to section
7.1 of National Instrument 51- 102 with respect to the material change
disclosed in this report is April 6, 2011. The press release was issued in
Vancouver, British Columbia through the facilities of the TSX Venture
Exchange via Marketwire, Canada Stockwatch and Market News
Publishing.
Item 4.
Summary of Material Change
The Issuer reports additional results from drilling from
Minera Afroditas drilling at the Lucero target in the Cordillera del
Condor Project, northern Peru and reports that $3.4 million share purchase
warrants were exercised.
Item 5.
Full Description of Material Change
The Issuer reports that it has received additional
results from Minera Afrodita's drilling at the Lucero target in the
Cordillera del Condor Project, northern Peru. Drilling of surface
mineralization continues to intersect consistent gold-copper
mineralization to the west of the target and remains open. Highlights
include drillhole LUC-021, which intersected 1.26 g/t gold and 0.63%
copper from surface to 28.0 metres (Figures 1 and 2). The Issuer has a
right to acquire 100% of Minera Afrodita.
The Issuer also announces that a total of 4,843,940
common share purchase warrants have been exercised for net proceeds of
$3.44 million. Exercised warrants comprise 4,114,500 common share purchase
warrants priced at $0.65 and 729,440 common share purchase warrants priced
at $1.05. Shareholders who exercised warrants include Franco- Nevada
Corporation, which exercised 1 million common share purchase warrants,
100% of their warrant position.
LUCERO DRILLING
Drilling at Lucero is targeting gold and copper-gold
mineralization hosted in skarn, sediments and instrusions (Figure 4).
Results have been received for drillholes LUC- 019, -020 and -021 and are
outlined below.
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Skarn Mineralization
Drillholes LUC-020 and -021 tested near-surface skarn mineralization. Drillhole
LUC-021 intersected 1.26 g/t gold and 0.63% copper from surface to 28.0 metres
(Figures 1 and 2). Drillhole LUC-020 intersected 0.44 g/t gold and 0.45% copper
from surface to 28.2 metres depth (Figures 1 and 3). The skarn mineralization is
outcropping at surface and has been subject to post-mineral erosion, such that
the skarn thickness varies from 10 metres to 150 metres depending on topography
(Figure 4). In the area where drillholes LUC-020 and -021were collared,
outcropping skarn-hosted mineralization has been eroded, preserving
approximately 30 metres of mineralization. In drillhole LUC-008, previously
announced, a thicker section of 60 metres returned 0.88 g/t gold and 0.53%
copper (News Release NR11-01). Results are pending for drillholes LUC-022 and
-023, which tested the thickness and continuity of mineralization as drilling
continues to move westward.
Porphyry Copper-Gold MineralizationDrillhole LUC-019 is the first drillhole testing for copper-gold
porphyry mineralization at depth, collaring at the southern extent of the
drilled area (Figure 1). The drillhole intersected 400 hundred metres of
potassic-altered granodiorite, which contained trace amounts of fine
disseminated copper mineralization (chalcopyrite) throughout. No potentially
economic grades were intersected but the alteration and consistent low-grade
mineralization intersected is consistent with a porphyry hosted system and is
encouraging. Drillholes LUC-024 and -025 are in progress in the northern portion
of the Lucero target. These drillholes are testing sediment-hosted and porphyry
copper-gold targets.
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Figure 1: Drilling Completed at Lucero with significant
intersections in drillholes LUC-020 and -021
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Figure 2: Section 1200 East including LUC-020 results
Figure 3: Section 1300 East including LUC-021 results
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Figure 4. Schematic deposit model for Lucero, illustrating the
three targets at Lucero and their interrelationship. Skarn mineralization
overlies broader disseminated copper-gold mineralization, which in turn overlies
a more horizontally restricted, but potentially vertically more extensive and
overall larger tonnage, porphyry copper-gold system.
ONGOING WORK
Drilling at Lucero is ongoing with
drillholes LUC-024 and LUC-025 in progress testing porphyry potential to the
north. Drilling at Cobrecon will begin in the coming days, where multiple
porphyry-style copper targets have been delineated. Regional work is also
ongoing with Targets T5 and T6 currently being evaluated with surface
samples.
Cordillera Del Condor
Background
The Cordillera del Condor has been one
of the most important gold-bearing areas in Ecuador and Peru since pre-Incan
times. On the Ecuador side of the border, historical high-grade, small scale
gold production is reported to have exceeded 100,000 oz per year.
Modern exploration on the Ecuadorian
side of the border has resulted in the discovery of multiple, significant and
world-class gold and base metal-bearing districts, such as Kinross Gold Corp's
Fruta del Norte Gold deposit with an inferred resource of 13.6 million contained
ounces of gold averaging 7.23 g/t gold), the Mirador Copper-Gold porphyry
deposit (recently sold by Corriente Resources Inc.) with measured &
indicated resources of 438 million tonnes at 0.61% copper, 0.19 g/t gold plus
inferred resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and the
Mirador Norte Copper-Gold porphyry deposit (indicated 171 million tonnes at
0.51% copper, 0.09 g/t gold; inferred 46 million tonnes at 0.51% copper, 0.07
g/t gold), and Dynasty Metals & Mining Inc's Jerusalem Gold deposit in the
Chinapintza district with measured & indicated resources of 0.58 million
contained ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces
inferred contained ounces averaging 11.5 g/t gold). The technical information
with respect to the above deposits was obtained through the respective
companies' public disclosure documents available on SEDAR.
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Qualified Person
John Drobe, P.Geo., the Issuers Vice
President of Exploration and a qualified person as defined by National
Instrument 43-101, has reviewed the scientific and technical information that
forms the basis for this material change report. Mr. Drobe is not independent of
the Issuer as he is an officer and a shareholder.
The geochemical results were reviewed
by Tansy OConnor-Parsons, Senior Geochemist. Minera Afrodita on-site personnel
rigorously collect and track samples which are then security sealed and shipped
to ACME Laboratories, Lima, Peru for assay. ACME's quality system complies with
the requirements for the international standards ISO 9001:2000 and ISO
17025:1999. Analytical accuracy and precision are monitored by the analysis of
reagent blanks, reference material and replicate samples. Quality control is
further assured by the use of international and in-house standards. Blind
certified reference material is inserted at regular intervals into the sample
sequence by field personnel in order to independently assess analytical
accuracy. In addition, representative blind duplicate samples are routinely
forwarded to ACME and an ISO-compliant third party laboratory for additional
quality control.
Cautionary Note Regarding
Forward-Looking Statements
This material change report contains
forward-looking statements and forward-looking information (collectively,
forward-looking statements) within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of historical
fact, included herein including, without limitation, statements regarding the
anticipated content, commencement and cost of exploration programs, anticipated
exploration program results, the discovery and delineation of potential mineral
deposits/resources/reserves, business and financing plans and business trends,
are forward-looking statements. Although the Issuer believes that such
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are typically identified by
words such as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to future
events. The Issuer cautions investors that any forward-looking statements by the
Issuer are not guarantees of future results or performance, and that actual
results may differ materially from those in forward looking statements as a
result of various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be located,
variations in the market price of any mineral products the Issuer may produce or
plan to produce, the Issuer's inability to obtain any necessary permits,
consents or authorizations required for its activities, the Issuer's inability
to produce minerals from its properties successfully or profitably, to continue
its projected growth, to raise the necessary capital or to be fully able to
implement its business strategies, to obtain the required supreme decree from
Peruvian authorities and other risks and uncertainties disclosed in the Issuers
Amended 2010 Annual Information Form filed with certain securities commissions
in Canada and the Issuers 2010 Annual Report on Form 40-F filed with the United
States Securities and Exchange Commission (the SEC), and other information
released by the Issuer and filed with the appropriate regulatory agencies. All
of the Issuer's Canadian public disclosure filings may be accessed via www.sedar.comand its United States public disclosure
filings may be accessed via www.sec.gov,and readers are urged to review these materials.
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Cautionary Note Regarding
References to Resources and Reserves
National Instrument 43 101 - Standards
of Disclosure for Mineral Projects (NI 43-101) is a rule developed by the
Canadian Securities Administrators which establishes standards for all public
disclosure an issuer makes of scientific and technical information concerning
mineral projects. Unless otherwise indicated, all resource estimates contained
in or incorporated by reference in this material change report has been prepared
in accordance with NI 43-101 and the guidelines set out in the Canadian
Institute of Mining, Metallurgy and Petroleum (the CIM) Standards on Mineral
Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004
(the CIM Standards) as they may be amended from time to time by the CIM.
United States shareholders are
cautioned that the requirements and terminology of NI 43-101 and the CIM
Standards differ significantly from the requirements and terminology of the SEC
set forth in the SECs Industry Guide 7 (SEC Industry Guide 7). Accordingly,
the Issuers future disclosures regarding mineralization may not be comparable
to similar information disclosed by companies subject to SEC Industry Guide 7.
Without limiting the foregoing, while the terms mineral resources, inferred
mineral resources, indicated mineral resources and measured mineral
resources are recognized and required by NI 43-101 and the CIM Standards, they
are not recognized by the SEC and are not permitted to be used in documents
filed with the SEC by companies subject to SEC Industry Guide 7. Mineral
resources which are not mineral reserves do not have demonstrated economic
viability, and US investors are cautioned not to assume that all or any part of
a mineral resource will ever be converted into reserves. Further, inferred
resources have a great amount of uncertainty as to their existence and as to
whether they can be mined legally or economically. It cannot be assumed that all
or any part of the inferred resources will ever be upgraded to a higher resource
category. Under Canadian rules, estimates of inferred mineral resources may not
form the basis of a feasibility study or prefeasibility study, except in rare
cases. The SEC normally only permits issuers to report mineralization that does
not constitute SEC Industry Guide 7 compliant reserves as in-place tonnage and
grade without reference to unit amounts. The term contained ounces is not
permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101
and CIM Standards definition of a reserve differs from the definition in SEC
Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a
part of a mineral deposit which could be economically and legally extracted or
produced at the time the mineral reserve determination is made, and a final or
bankable feasibility study is required to report reserves, the three-year
historical price is used in any reserve or cash flow analysis of designated
reserves and the primary environmental analysis or report must be filed with the
appropriate governmental authority.
Item 6.
Reliance on subsection 7.1(2) or (3) of National
Instrument 51-102
Not applicable
Item 7.
Omitted Information
No information has been omitted on the basis that it is
confidential.
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Item 8.
Senior Officer
The following senior officer of the Issuer is
knowledgeable about the material change disclosed in this
report.
Keith J. Henderson, President & CEO
Business
Telephone No.: (604) 638-5817
Item 9.
Date of Report
April 21, 2011