AMENDING PRESIDENTIAL DECREE NO. 1696, AWARDING A CERTAIN AREA TO LEPANTO CONSOLIDATED MINING COMPANY FOR MINING PURPOSE.

WHEREAS, under Presidential Decree No. 1096, Lepanto
Consolidated Mining Company was awarded the right to explore, develop, exploit
and utilize the minerals found within the area mentioned therein;

WHEREAS, there is a need to redefine the area covered by the
aforesaid Decree by adopting another tie point as hereunder described; and

WHEREAS, Lepanto Consolidated Mining Company is presently
conducting extensive mining activities on the area awarded in its favor under
the aforesaid Decree;

NOW THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
decree and order that the area awarded to Lepanto Consolidated Mining Company be
redefined by adopting as tie point thereof BLLM No. 1 of Tabio, Mankayan.
Benguet, based on the location of Communal Forest Parcel No. 1 (Amended) of
Mankayan, Benguet, as plotted in the Bureau of Forestry Map LC 1185 certified by
the Director of Forestry on September 7 1935, and which tie point and area are
more particularly described, as follows:

Beginning Point “1” which is S 51°47′ E, 2,705.90 meters from BLLM No. 1, Bo.
Tabio, Mankayan, Benguet;

thence	N 53°44’W,	91.31 m. to pt. 2;
thence	N 26°44’W,	106.06 m. to pt. 3;
thence	N 83°44’W,	82.49 m. to pt. 4;
thence	N.40°52’W,	117.69 m. to pt. 5;
thence	N 08°58’W,	96.18 m. to pt. 6;
thence	N 34°37’W,	51.03 m. to pt. 7;
thence	N 24°41’W,	40.72 m. to pt. 8;
thence	N 56°53’W,	54.92 m. to pt. 9;
thence	N 22°02’W,	45.31 m. to pt. 10;
thence	N 01°46’W,	65.03 m. to pt. 11;
thence	N 15°57’W,	43.68 m. to pt. 12;
thence	N 25°23’W,	65.30 m. to pt. 13;
thence	N Due North,	54.00 m. to pt. 14;
thence	N 24°47’E,	42.95 m. to pt. 15;
thence	N 33°41’E,	50.48 m. to pt. 16;
thence	N 60°03’E.,	102.08 m. to pt. 17;
thence	N 81°00’E,	190.00 m. to pt. 18;
thence	N 53°00’E,	80.00 m. to pt. 19;
thence	N 47°00’E,	60.00 m. to pt. 20;
thence	S 73°00’E,	330.00 m. to pt. 21;
thence	S 72°29’E,	358.84 m. to pt. 22;
thence	S 05°00’E,	345.00 m. to pt. 23;
thence	S 46°00’W,	80.00 m. to pt. 24;
thence	S 20°00’W,	102.70 m. to pt. 24a;
thence	Due West,	13.30 m. to pt. 24b;
thence	Due South,	36.57 m. to pt. 24c;
thence	S 20°00’W,	98.38 m. to pt. 25;
thence	S 50°00’W,	240.00 m. to pt. 26;
thence	S 79°00’W,	200.00 m. to pt. 27;
thence	N 68°00’W,	160.00 m. to pt. 1 which is the point of beginning, containing an area of 79.9780 hectares, more or less.

In case the mineral deposits found therein are not developed and exploited as
is the purpose of this Decree, the area so awarded is hereby declared a mineral
reservation, and the disposition thereof shall be governed by Presidential
Decree No. 463, as amended, and the rules and regulations promulgated
thereunder.

This Decree shall take effect immediately.

DONE in the City of Manila, this 6th day of September, in the year of Our
Lord, nineteen hundred and eighty.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JACOBO C. CLAVE
		Presidential Executive Assistant