FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of May, 2008

Commission File Number 001-32748

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

This National Instrument 43-101 compliant study reports the economics of mining the Mirador deposit using current capital cost estimates and waste-dump, pit shell, and tailings management facility (TMF) designs revised from those described in the most recent Feasibility Study on the project, written by SNC-Lavalin ("SNC") for Corriente Resources Inc. ("Corriente") in 2007. Most significantly, the process plant throughput has been upgraded to 30,000 tonnes per day (tpd). The objective is to provide a current summary and statement of in-pit resources for the Mirador Project, which will supercede previous reports by AMEC (2005) and Sivertz et al. (2006a and b).

There are several items relating to the mine plan that require additional field testing and engineering work to meet Feasibility-level standards. These items lack the detail of the other elements of the project because work in the study area was suspended in late 2006. They include the costs and capacities of the waste dumps, costs and construction requirements of the haul roads outside of the pit limits, and certain geotechnical characteristics of the saprolite within the project area.

The study is compliant with international social and environmental standards and identifies options that would optimize the stakeholder returns and provide social and economic benefits to the communities in the region.

The Mirador porphyry copper-gold deposit is located in the province of Zamora-Chinchipe, in southeast Ecuador. The concessions are approximately 340 km south of Ecuador's capital city of Quito and 70 km east-southeast of the city of Cuenca. The eleven concessions are in two blocks and cover an area of 9230 hectares. The claims are registered with the National Directorate of Mining and have not been legally surveyed.

The area has a wet equatorial climate with a reported rainfall of 2,300 millimetres (mm) per year. The elevations of the property range from about 800 to 1,800 metres above sea level (masl). The property supports second-growth tropical forest, although there are numerous clearings at lower elevations.

The copper-gold-silver mineralization of the Mirador deposit is hosted by Late Jurassic granite and porphyries of the Zamora Batholith. Mineralization is mainly disseminated and fine-fracture controlled chalcopyrite with supergene chalcocite increasing copper grades within an enrichment blanket of variable thickness. The host rock within the mineralized zone is mainly equigranular Zamora granite/granodiorite, with some minor leucogranite dikes along the west and southwest margins, and rare diabase dikes up to two metres in width. The oldest porphyritic rocks that intrude Zamora granite within the limits of the Mirador deposit are trachytic hornblende-feldspar dikes. Off-centre of the mineralized system is a large vertical diatreme of breccia (unit "brmn") composed of angular fragments of the early porphyry dikes, Zamora granite, and quartz-vein fragments. Post-mineralization, northeast-striking, northwest-dipping hornblende-feldspar porphyry dikes (unit "Jhbp") cut the breccia and the wall rocks of the deposit. The youngest rocks are post-mineral hydrothermal breccia dikes and irregular diatremes (unit "brpm"). These breccias are characterized by a polymictic clast assemblage of mineralized and unmineralized rock.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Corriente has carried out exploration on the Mirador property since April 2000. The work completed includes geological mapping, geochemical soil sampling, rock chip sampling, and the completion of 36,284 m of core drilling in 143 diamond drill holes in three main programs. Corriente, through its wholly-owned subsidiary company in Ecuador, EcuaCorriente S.A., holds a 100% interest in the Mirador property, subject only to a 2% Net Smelter Royalty interest ("NSR") held by BHP Billiton in the Mirador deposit.

The Feasibility Study of AMEC (2005) developed a mine plan based on a mining rate of 25,000 tpd and 111 million tonnes (MT) of in-pit resources grading 0.67% Cu and 0.22 grams per tonne (g/t) Au, using the resource estimate of Lomas (2004) as a basis. It was estimated 91 MT of waste rock would be removed over the 12-year mine life, resulting in an average strip ratio of about 0.8:1. The mine life was limited so that the capital costs were kept down to a level that would be within the development scope of a medium sized mining company.

In the fourth quarter of 2005, Corriente retained Mine Development Associates ("MDA") of Reno, Nevada to prepare a current mineral resource estimate that would incorporate the new data from the fifty-two additional drill holes completed in 2005 into the resource model and mine plan previously reported by AMEC (2005). Corriente compiled the drill-hole and surface data and constructed the geological model solids used for the estimation.

MDA completed the current resource estimation in May 2006 (Sivertz et al., 2006a) and also conducted pit optimization studies and an in-pit resource estimate. MDA reported Measured and Indicated Mineral Resources of 437,670,000 tonnes grading 0.61% Cu, 190 parts per billion (ppb) gold, and 1.5 parts per million (ppm) silver, at a 0.40% copper cut-off grade. Additional Inferred Mineral Resources, also at a 0.40% Cu cut-off, were estimated as 235,400,000 tonnes grading 0.52% Cu, 170 ppb gold, and 1.3 ppm silver.

Based on the pit optimization studies, MDA estimated in-pit resources for Mirador at 347 MT at 0.62% Cu, 0.196 g/t Au, and 1.57 g/t Ag. These resources are contained within designed pits, which include haul roads, ramps and use variable pit slopes based on geotechnical studies. Measured and Indicated materials were allowed to make a positive economic contribution, and Inferred material was considered waste.

The significant change from the AMEC feasibility was an increase in pit size (111 MT to 347 MT), which was the result of not limiting the mine life. The mine life for the 347 MT scenario would be 39 years at 25,000 tpd, or 22 years if the milling rate is increased to 50,000 tpd in Year 6 of operations.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Most recently, in early 2007, MDA recalculated in-pit resources of 181 MT based on a 27,000 tpd milling rate over a 19-year mine life (SNC-Lavalin, 2007). The in-pit resources were limited again to 181 MT to keep capital costs down. As before, only Measured and Indicated materials were allowed to make a positive economic contribution, and Inferred material was considered waste. The 181 MT of ore would grade 0.62% copper, 0.2 g/t gold, 1.6 g/t silver, and would be mined at a 0.8:1 strip ratio.

Moose Mountain Technical Services ("MMTS") was asked by EcuaCorriente S.A. ("ECSA") to develop a mine plan, production schedule, mine operating costs and mine capital costs for the Mirador deposit based on the previous MDA work for the 181 MT mine plan, but at an increased milling rate of 30,000 tpd, and adopting the preliminary waste dump designs from Piteau. ECSA is the owner of the Mirador Project and is a wholly-owned subsidiary of Corriente.

The in-pit mine resources are listed below in Table 1-1:

There will be three pit phases and the final stripping ratio will be 0.8:1. First production occurs at a location within the Phase 1 design, where ore is exposed from pre-stripping and copper grades are high to maximize cash flow in the initial years. At the higher milling rate, the mine life will be 17 years, not including the pre-production period in Year 0 and 1. Annual production over the first 10 years of the mine life will average 11 MT of concentrate, containing 137 Million lbs of copper, 34,000 oz gold, and 394,000 oz silver.

A significant amount of metallurgical test work has been completed on mineralized samples from the Mirador deposit since 2001, including supportive bench-scale flotation test work, mineralogical modal analysis, and Bond ball mill work index test work.

The Bond ball mill work index averages 14.5 to 15.6 kWh/t and ranks the ore in ball milling as medium in hardness relative to other copper porphyry ores, with relatively low variability.

As a result of the SGS Lakefield grinding and throughput simulations at 30,000 tpd, an 80% passing feed size of 176 microns was used to as the primary grind for the flotation feed. The grind-recovery relationship at several grind sizes on the four variability composites "super composites" based on data from the "An Update on Metallurgical Testing of Mirador Ores" report, prepared by SGS Lakefield for ECSA in September, 2004 indicated an average copper recovery of 89.7% and an average gold recovery of 46.3% to the final copper concentrate would be expected. A silver recovery was estimated to be 67% from the 2004 SGS Lakefield testing using the average copper concentrate weight and silver grade produced by the four variability "super composites" SGS locked cycle tests and head assays.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Access from the project area to the coast, through Loja, uses the national road system, which is paved and adequate for light loads. It will handle the concentrate trucks which are estimated to weigh 52 t gross. All bridges along the Loja route have been evaluated for the heavier construction loads that will initially come in to the project, and reinforcements have been planned where needed.

The closest airport is a military airstrip, about a 45-minute drive from the Mirador Project. It is tarmac, 2,075 m long and is capable of being used by Hercules and 737 type aircraft.

Two separate tailings streams will be produced: the geochemically innocuous Rougher tailings, which account for approximately 87% of the tailings, and the potentially acid-generating Cleaner tailings, which account for the remaining 11%. Approximately 2% of the ore will be recovered as concentrate.

For the initial 6 years of operation both tailings streams will be stored in the Rio Quimi TMF, adjacent to the Mill. The Rougher tailings will be redirected to the Pangui TMF in Year 7 of operations, approximately 10 km from the Mill, through a pipeline laid alongside the Rio Quimi. The Cleaner tailings will continue to be discharged into the Rio Quimi TMF, where they will be maintained beneath the supernatant pond, to mitigate any potential for oxidation.

The starter embankments for both facilities and the basin liner at the Rio Quimi TMF will be constructed from low permeability local borrow (Residual Soil). The initial construction for the Rio Quimi TMF will be completed using the Mine Fleet. Ongoing embankment raises will preferentially use the sand fraction of the Rougher tailings, obtained by cycloning at the TMF, or else using local borrow placed by a Contractor. The cyclone overflow, and bulk Rougher tailings during periods when cyclones are not operating, will be discharged directly into each TMF from multiple points around the confining embankments.

A Feasibility Design Report for the tailings facilities (KP Ref. No. VA201-78/09-6) has previously been completed for the 27,000 tpd mine plan. The results of geotechnical investigations carried out in 2006 at the Rio Quimi TMF site, and in 2005 at the Pangui TMF site, are included as part of the above referenced feasibility report.

A TMF Risk Assessment identified the most significant risks relating to construction of the initial Rio Quimi TMF as (1) the availability of material suitable for construction of the Rio Quimi TMF; (2) unexpected foundation conditions at the TMF site during construction; (3) unusually poor weather during construction and (4) unsatisfactory Contractor performance. During ongoing operations, the greatest risks for tailings management are seen to be (1) failure of the waste dump(s) upslope of the Rio Quimi TMF; (2) acid rock drainage developing in the waste dump(s) and impacting site water quality; (3) rupture or leakage from the pipelines and pump station that are established in the Rio Quimi River corridor and (4) failure of the bridge crossing on which these pipelines are carried across the Rio Zamora to the Pangui TMF.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Mirador concentrate production is estimated to average 563 tpd on a dry basis or 620 tpd on a wet basis, during the life of mine. The concentrate will be hauled 418 km via trucks to the Pacific coast. The concentrate haulage trucks will haul an average of 32 t of wet concentrate per trip, with a gross weight including the truck at about 52 t.

The port of Machala was selected because it satisfied the criteria of low cost and convenient access. The key advantages of this location include a large buffer zone between the port facilities and the community, the potential for additional development and construction of two new road accesses paid for by the government, a history of industrial use for permitting purposes, and relatively little dredging would be required as compared to port requirements in Guayaquil.

The port facility will be developed for a loading rate of 1 000 t/h and storage capacity of 15 000 t of concentrate. A small laboratory will be located on-site for quick testing of the concentrate for critical physical and chemical properties.

The specifications of concentrate from the Mirador porphyry copper-gold deposit are provided in Table 1-2. The concentrate is free of deleterious elements and has copper, sulphur, gold and silver contents that make it saleable to all smelters and desirable as a blending concentrate. Typical filter press moisture content for a fine-grind, porphyry-copper concentrate is usually between 9 to 9.5% by weight. It is estimated the concentrate moisture from the filter press will be 9.2%. The transportable moisture limit of the concentrate was measured by SGS at 10.9%.

The electrical demand of Mirador Copper Project is estimated at 28.8 MW and 205 GWh/a. The average total energy cost for hydroelectric power is typically around $0.057/kWh. ECSA is analyzing multiple Power Purchase Agreement (PPA) options with both private and public hydroelectric power suppliers.

The power required can either be purchased from an existing hydroelectric generator, or can be supplied by a project developed for the mine. Approximately 50% of Ecuador's power demand is supplied by hydroelectric generation and it is the least expensive form of energy commercially available in Ecuador. Many promising hydroelectric projects have been identified, in addition to those currently operating. Several are located near the Mirador Project. Corriente reports that its strategic power plan includes utilizing low cost, environmentally friendly, and readily available hydropower to supply the Project's power demand.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Whether Corriente develops its own hydroelectric project or purchases power from an existing hydroelectric generator, the strategy is to interconnect with the Ecuadorian electrical grid: Sistema Nacional Interconectado ("SNI"). This allows the mine to purchase power from an alternate source should the primary source be unavailable, and allows the sale of excess energy in the case of a Corriente owned hydroelectric plant.

The conceptual design for the interconnection from the project to SNI is a new 111 km, 230 kV transmission line that would connect Sinincay with the substation at the project site. The transmission-line route follows an existing 138 kV transmission line connecting Cuenca to Limón, and then continues south to the project site. Sinincay is directly connected to the Paute generating complex through Zhoray at 230 kV and is one of the strongest, most stable SNI interconnections in Ecuador.

The closure plan will lay out the closure measures and estimated closure costs as input to the project feasibility study. It will form part of the Environmental Impact Assessment to indicate the post-mining reclamation activities that will mitigate potential environmental impacts. In general, site reclamation objectives will include the following:

• Protection of air, surface water, groundwater, flora, and fauna;

• Protection of public and worker health and safety;

• Restoration of wildlife habitat;

• Design and restoration of a post-mining topography that is comparable with pre-mining conditions;

• Restoration of the area in an aesthetically acceptable manner that generally blends within the surrounding habitat; and

• Establishment of post-closure vegetation that is suitable and comparable to pre-mining conditions.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Closure activities after the end of mine life will also include removal of all facilities and infrastructure that is not planned to be left for other uses or is needed for post-closure maintenance, and reclamation of all disturbed areas.

Two major types of licensing vehicles exist for Ecuadorian mine projects (1) Permits/Licenses/Permissions (generally referred to as "permits"), and (2) Environmental Impact Assessments (EIAs). Both permits and EIAs are required for a typical open pit mine operation in order to move from exploration through operations and closure.

Both the exploration phase and the operations phase of the project require approved EIAs. Various permits may be required for exploration. Exploration operations that propose to use significant surface or ground water resources during drilling, divert water for use, build roads etc. would require permits to address activities.

Of the total 39 permits identified as being necessary to commence activities, four (4) are considered Priority Permits (Table 1-3). Priority Permits would likely be required of most major mine operations.

Under Ecuadorian Mining Law and Mining Environmental Regulations, the Ministry of Mines and Petroleum handles the environmental approval system for new mining projects.

The Mirador mining EIA and all supporting documents were submitted to the Ministry of Mining and Petroleum, or "MMP" (formerly known as the Ministry of Energy and Mines), in Quito, Ecuador, in December 2005. The EIA covered both the environmental aspects of proposed 25,000 tpd mining operations at Mirador, and community and social plans associated with the Mirador Project. This EIA did not include Mirador Norte. The Ecuadorian government approved the EIA on May 4, 2006 and the letter acknowledging receipt of the bond was received by the MMP on June 12, 2006.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Corriente submitted an amended EIA (EIAA) to the government on September 29, 2006, to allow for mill, tailings and dump location changes to the original mine plan. Subsequent public consultations were successful. In May 2007, the company was advised by the MMP that this amended EIA will require further study. It is currently being revised for re-submittal, and during this ongoing review process the company continues to operate under the terms of the original EIA.

Terrambiente, a Quito-based environmental firm, completed an environmental baseline assessment for the Mirador Copper Project in 2005. Baseline data collection commenced in March 2004 and collection of data from baseline sampling points continued until the project suspension in November 2006. Supplemental baseline data has been collected for much of the footprint of the revised 2006 mine plan presented in this report.

The principal needs of the population are employment and infrastructure development. The communities suffer from a constant migration of able workers to other more prosperous regions in the country, as well as overseas. Low levels of education and poor health care services also impact the region.

The Project would generate up to 1,200 jobs during the construction period and is expected to create annual employment of over 415 direct and almost 2,700 indirect jobs during the 20-year Project life.

In December of 2006 the project was suspended due to local social unrest. The company is endeavouring to resolve this issue with ongoing discussions with all levels of government and the local communities.

The initial capital cost of the Mirador Project is estimated at $418 million, including working capital of $19 million, and value added taxes (VAT) and duties. Total capital expenditures, which includes sustaining capital, working capital, closure costs, and related taxes and duties, are estimated at $533 million. The majority of the estimated CAPEX costs expressed above are the product of 2006 blended dollars, with the exception of the TMF estimate, which was updated in 2007.

The initial mine capital cost estimate totals $61.4 million (not including VAT), of which $36.1 million will be for mine equipment and $25.2 for pre-production, which includes site preparation and pre-stripping. Exclusions from the mine capital costs are water management costs, tailings dam and pond access and related activities, access to the plant site, access and installation of the crusher/ conveyor, and basic mine infrastructure.

For the purpose of this study, the 2006 mining equipment unit prices are used for consistency, and to simplify costs comparisons with other case studies. Current equipment pricing will be used in the next level of study.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Direct mining and GME cost in years 0 and 1 are pre-production capital costs, and include pre-strip 8 million tonnes, construction of the initial access road from the rock quarry (for road surfacing material) to plant site, initial ore and waste haul roads from Phase 1 pit, and site preparation of the Crusher Dump foundation. Mine equipment used for pre-production will be the owner's fleet, and will have to be purchased in advance.

The project will require two staged Tailings Management Facilities (TMF) and these will cost an estimated $88.5 million. The initial, Rio Quimi TMF is estimated to cost $38.2 million and is included in the initial capital costs, while the Pangui TMF is estimated at $50.2 million and is included in the sustaining capital costs. KP reviewed the TMF cost estimates developed for the Mirador 27,000 tpd Feasibility Study and adjusted the costs to reflect the most recent 30,000 tpd mine plan. The costs were developed in 2006 assuming construction commencing in mid to late 2007. The contingency amount has been increased from 15% to 20% for this study, relative to the SNC Feasibility Study, to reflect the possible error introduced when scaling up to the new mine throughput.

Costs for the following systems were increased to correspond to the increased throughput:

• Tailings transport and discharge pipeworks

• Tailings booster pump station

• Cyclone sand plant

• Reclaim water systems

• Electrical power, and instrumentation and control

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Operating costs for the mine, mill, and tailings areas are exclusive of "expat" and management labour costs, which are included in the G&A component of $0.86 per tonne of ore. The total operating costs for the Life of Mine (LOM) will be $1.2 billion, or $6.44/t ore. By considering additional local IVA Tax, the total unit operating costs will be $7.05/t ore.

The average operating cash cost net of co-credits; inclusive of BHP royalties, smelting, marketing and transportation, and non-asset taxes, is $0.835 per pound of copper produced over the LOM.

In this Feasibility Study, un-hedged pricing assumptions for Life of Mine of $1.75 US/lb for copper, $550 US/oz gold and $7.50 US/oz silver are used for the economic evaluation (the "Base Case").

The copper price used herein considers current market dynamics, three, five and seven year historical copper pricing, and financial and mining industry forecasts and views of future copper pricing. Corriente chose $1.75 US/lb to remain conservative in its Life of Mine copper-pricing assumptions. The impact of variations to this pricing is reported in the sensitivity analysis details table in Section 19.

The financial outcome summary is presented in Table 1-4. A projected payback period for the Base Case scenario is four years. Using an 8% discount rate, the post-tax net present value (NPV) is $265 million, and the post-tax internal rate of return (IRR) is 17.7%.

Table 1-4: Financial Outcomes Summary

The Mirador Project shows positive economics based on the 30,000 tpd milling rate and associated mine plan presented in this report. A total of 181 MT of ore will be mined over approximately 17 years at a relatively low strip ratio of 0.8:1. The average grades will be 0.62% copper, 0.2 g/t gold, and 1.63 g/t silver.

Total capital expenditures for the project are estimated to be $533 million, which includes initial capital, working capital, sustaining capital, and post-closure costs and taxes. Total operating costs are estimated at $1.2 billion, which includes processing, mining, TMF, and G&A.

At an 8% discount rate, the after tax IRR will be 17.7% and the NPV will be $US 265 million. The Project's annual cashflow is summarized in Figure 1-1. The economics are most sensitive to copper price, as shown in Error! Reference source not found..

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Table 1-5: Copper Price Sensitivity Analysis Details

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

The project has significant potential for expansion, based on currently defined resources at both the Mirador deposit and the neighboring Mirador Norte deposit, which is located three kilometres to the northeast but not included within the scope of this study, of 609 MT at 0.58% copper and 0.17 g/t gold, at a 0.4% copper cut-off. Additional Inferred resources for these two deposits together total 281 Mt at 0.52% copper and 0.15 g/t gold.

The current process design circuit can be expanded cost-effectively to 60,000 tpd by doubling the linear milling and flotation circuits and adding equipment to the crusher and overland conveyors.

An updated Feasibility Study will need to be completed before the project is developed, and a summary of recommendations is listed below to bring all elements of the current mine plan to the same level of design detail. These recommendations are estimated to cost $3.25 million.

1)

Increase the drill-hole density with angled holes in the area of the Phase 1 pit, to convert more resources to the Measured category.

2)

Re-model the deposit and develop a partial block model using information from the new drilling described above.

3)

Write a revised mine plan and production schedule based on complete, feasibility-level geotechnical studies on the waste dump areas, access roads, TMFs, and pit area hydrogeology.

4)

Conduct additional metallurgical studies to further determine the optimum process for the enriched-zone resource.

5)

Continue and expand the humidity cell test work, including more material from what will be the pit margins.

6)

Continue gathering surface hydrological and climate data to monitor and generate a hydrological model for the basins containing the mine infrastructure.

Geotechnical and environmental studies and construction activities will resume on the site as soon as total access is granted by authorities.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

This study reports the economics of mining the Mirador deposit using updated capital cost estimates and revised waste dump, pit shell, and tailings management facility (TMF) designs, as well as increasing the milling rate to 30,000 tonnes per day from 27,000 tonnes per day. The objective is to provide a current evaluation of the project, which will supercede previous mine plan and economic studies by AMEC (2005) and MDA (2006).

This work summarizes those elements of the mine plan provided by MDA and included in the most recent Mirador Feasibility Study by SNC-Lavalin ("SNC") for Corriente Resources in 2007 that are not affected by the increased milling rate. There are several items relating to the mine plan and in-pit resources that require additional field testing and engineering work to meet Feasibility-level standards. These include the costs and capacities of the waste dumps, costs and construction requirements of the haul roads outside of the pit limits, and certain characteristics of the saprolite within the project area. These items lack the detail of the other elements of the project because work in the study area was suspended in late 2006.

The Mirador porphyry copper-gold deposit is located in the province of Zamora-Chinchipe, in southeast Ecuador. Corriente Resources Inc. ("Corriente") engaged Moose Mountain Geotechnical Services ("MMTS") to provide a current mine plan based on a revised nominal milling rate of 30,000 tpd for the Mirador deposit. The resource estimates for this study, as well as the basic mine plan, are based on previous work by Mine Development Associates ("MDA") of Reno, Nevada using a milling rate of 25,000 tpd (Sivertz et al., 2006a and 2006b). Thus this study is based on a mineral resource estimate in compliance with the CIM Mineral Resource and Mineral Reserve definitions referred to in National Instrument 43-101 ("NI 43-101").

MDA reported Measured and Indicated resources of 437,670,000 tonnes grading 0.61% Cu, 190 ppb gold, and 1.5 ppm silver at a 0.4% Cu cutoff grade. Additional Inferred resources, also at a 0.40% Cu cutoff, were reported to be 235,400,000 tonnes grading 0.52% Cu, 170 ppb gold, and 1.3 ppm silver.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

Several authors contributed to this report:

Robert Fong of MMTS prepared the sections on the mine plan, waste dumps, and other aspects of the mining operation. John Hoffert of Hoffert Processing Solutions ("HPS") prepared the sections on metallurgy, mineral processing, operating costs, and economic evaluation. Knight Piésold (KP) prepared the sections on water management and tailings facilities. Merit Consultants International Inc. ("Merit") reviewed the capital costs and provided editorial control.

MDA completed a NI 43-101-compliant resource estimate for the Mirador deposit in 2005, and also conducted pit optimization studies, in-pit resource estimation, and a review of the quality assurance/quality control procedures used by Corriente in the 2005 drilling program at Mirador. The sections of this report that discuss these studies (Sections 14, 17, and the pertinent sections of the Summary, Conclusions, and Recommendations) are based on the work done by MDA in 2005. John Drobe, P.Geo, Chief Geologist for Corriente, serves as the Qualified Person responsible for reporting the MDA resource estimate.

The basis for the process design for a throughput of 30,000 tpd was developed by SNC Lavalin Chile S.A. (SNC) and KP, and is included in Appendix 5G in the SNC Mirador Feasibility Study, available upon request from Corriente.

Neither MDA, KP, HPS, Merit, nor MMTS are associated or affiliated with Corriente or ECSA, or any related companies. Any fees paid to these entities for the work done and reported on in this Technical Report are not dependent in whole or in part on any prior or future engagement or understanding resulting from the conclusions of this report. The fees are in accordance with industry standards for work of this nature.

The report is also based in part on personal communications with Mr. Ken Shannon, P. Geo., C.E.O. of Corriente.

All currency is expressed in United States (US) dollars unless stated otherwise.

The coordinate system in use on the property and in all maps and references in this report is UTM zone 17 S, Provisional South American Datum (PSAD) 1956. The estimated costs in the Recommendations section include Ecuadorian taxes where applicable.

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

This preliminary assessment has been assembled by a group of consultants on behalf of Corriente with assistance and information from:

• Officers, contractors and employees of Corriente, including members of the ECSA staff in Quito, Ecuador.

• Reports and memoranda prepared for Corriente on operating costs, metallurgical information, offsite infrastructure, and environmental and socio-economic subjects

	MIRADOR PROJECT
	30,000 TPD FEASIBILITY STUDY

The Mirador property is centered 10 km east of the Rio Zamora (Zamora River) in the Zamora-Chinchipe Province of southeast Ecuador, adjacent to the border with Perú (Figure 4-1). The concessions are approximately 340 km south of Ecuador's capital city of Quito and 70 km east-southeast of the city of Cuenca.

The center of the Mirador concession group has UTM coordinates 9,604,200 N and 785,000 E (UTM Zone 17S, Provisional South American Datum 1956). Nine contiguous concessions with an area of 8900 hectares (Ha) cover the mine area; and two concessions totaling 1030 Ha lie to the west and cover the Pangui tailings management area. The concessions are registered with the National Directorate of Mining and have not been legally surveyed.

Corriente is not aware of any historic mine workings or tailings within the Mirador mineral concessions.

Billiton Ecuador B.V., now BHP Billiton ("Billiton"), began exploration in southeastern Ecuador in 1994 and registered concessions over a number of possible porphyry copper targets in the region. In April 2000, Billiton and Corriente entered into a joint venture agreement covering 230 sq km of mineral concessions in the southern part of the region, including the area of the Mirador property.

Under various agreements signed and completed with certain Ecuadorian subsidiaries of BHP Billiton Plc ("BHP Billiton"), the company has earned a 100% interest in BHP Billiton's mineral properties located in the Rio Zamora copper porphyry district in Ecuador, including the Mirador property. This required the issue of shares to BHP Billiton and the expenditure of exploration funds under the terms of these agreements. Additionally, the mineral properties are subject to a 2% NSR payable to BHP Billiton, though the company has options to reduce the NSR to 1% for the Mirador/Mirador Norte, Panantza and San Carlos mineral properties upon the payment of $2 million to BHP Billiton for each such option exercised.

Corriente also entered into an exploration management arrangement where Lowell Mineral Exploration ("Lowell") could earn up to 10% of Corriente's interest in certain properties in exchange for managing the exploration of the properties. Corriente, in December 2003, granted Lowell the option to exchange its 10% interest in the Corriente mineral concessions, including Mirador, for a 100% interest in the Warintza property. In June 2004, Lowell exercised that option. Corriente, through its wholly-owned subsidiary companies in Ecuador, now holds a 100% interest in the Mirador property, subject only to the BHP Billiton NSR interest in the Mirador deposit.

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The location of the eleven individual concessions that make up the Mirador property is shown in Figure 4-2. The state code numbers, area in hectares, property registration dates and ownership of the Mirador concessions are as indicated in Table 4-1. The company listed in Table 4-1, EcuaCorriente S.A., is wholly owned by Corriente. The Mirador deposit is located along the boundary between the Mirador 1 and Mirador 2 concessions. Previously there were just six concessions in this block, but, in late 2006, they were subdivided and the Caya 36 concession was transferred to the Corriente subsidiary Minera MidasMine S.A. Ownership of Minera MidasMine S.A. was transferred to Corriente shareholders in a Plan of Arrangement transaction which closed June 18, 2007. Other changes to concession ownership between EcuaCorriente S.A. and ExplorCobres S.A. (another Corriente subsidiary) are outlined in Trejo (2008).

The concessions cover an area of 9230 hectares (9.2 sq km). All the concessions are within Zamora-Chinchipe Province.

According to Ecuadorian Mining Law, concessions registered against title to mining properties have a term of 30 years, which can be automatically renewed for successive 30-year periods, provided that a written notice of renewal is filed by the registered concession holder before the expiry date.

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The following permits have been obtained for the Mirador Project:

1. Approval of EIA for exploitation (MMP)

2. Certificate of non-intersection with National Protected Areas (MAE)

3. Permit for archaeological research and rescue (INPC)

4. Municipal Patents (Municipality of El Pangui)

5. Mining Rights (MMP)

6. Forest Wood Use (MAE) for a determined amount of wood

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The remaining permits needed for the Mirador Project are listed in Table 4-3.

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The Mirador Project mine EIA and all supporting documents were submitted to the MMP in Quito, Ecuador, in December 2005. The EIA covered both the environmental aspects of proposed 25,000 tpd mining operations at Mirador, and community and social plans associated with the Mirador Project. This EIA did not include Mirador Norte. The Ecuadorian government approved the EIA on May 4, 2006 and the letter acknowledging receipt of the bond was received by the MMP on June 12, 2006.

Corriente submitted an amended EIA ("EIAA") to the government on September 29, 2006, to allow for mill, tailings and dump location changes to the original mine plan. Subsequent public consultations were successful. In May 2007, the company was advised by the Ministry of Mines and Petroleum that this amended EIA will require further study. It is currently being revised for re-submittal, and during this ongoing review process the company continues to operate under the terms of the original EIA.

Terrambiente, a Quito-based environmental firm, completed an environmental baseline assessment for the Mirador Copper Project in 2005. Baseline data collection commenced in March 2004 and collection of data from baseline sampling points continued until the project suspension in November 2006. Supplemental baseline data has been collected for much of the footprint of the revised 2006 mine plan presented in this report.

Corriente is not aware of any environmental factors that could negatively affect the development of this project. The following environmental study activities are were ongoing at the Mirador property up to the time of suspension in late 2006, and will continue upon resumption of activity:

• Weekly measurements collected from five vibrating wire piezometers installed in drill holes in 2004.

• Rainfall data collected from two automated tipping rain buckets, one located on the deposit itself, and the other located one kilometer to the north.

• Complete weather data collected by manual and automated means from a weather station located in the Mirador camp.

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• Automated water level, manual staff gauge, and total solids measurements taken from five stations located at various points around the deposit.

• Water quality samples collected from three streams draining the deposit; there are another 16 regional sample points outside the area of mineralization.

	MIRADOR PROJECT
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Access to the Mirador property from Quito, the capital city of Ecuador, can be gained by road or by a combination of air and road travel (Figure 5-1). There is scheduled air service from Quito to Cuenca and Loja, the cities northwest and southwest of the property. From these centres, small aircraft can be chartered to fly to Gualaquiza, the nearest airfield to the deposit.

There is road access from Quito to Cuenca for the transport of samples or heavy equipment. Paved and gravel roads from Cuenca lead to the village of Tundayme, 6 km from the project site. The road distance is approximately 230 km and the travel time is about five to six hours, including a short ferry trip across the Rio Zamora. There is also road access from Tundayme to the Pacific Ocean port of Machala, via 11 km of dirt road to the town of Chuchumbleza, and then by paved highway south through Pangui and Zamora, then crossing the Andes west up to Loja and continuing down to the coast.

Corriente constructed a six-kilometre pilot road in 2005, to access the east side of the Mirador deposit. Short trails from the end of this road provide access to most of the critical sectors of the project area.

The area has a wet equatorial climate with a reported rainfall of 2,300 millimetres (mm) per year. Rainfall can exceed 60 mm in a 24-hour period. Variations in the local terrain exert a strong influence over rainfall, so the area has many different local rain regimes. Fieldwork is possible all year round. The best time for airborne surveys or road and trail construction is from October to December, because of clearer skies and drier weather conditions.

Tributaries of the Rio Zamora drain the central and western parts of the Mirador property. The flanking highland areas of the Paramos de Matanga on the west, and the Cordillera de Condor on the east, rise to maximum elevations of 4,200 and 1,800 metres above sea level (masl), respectively. The elevations of the property range from about 800 to 1,800 masl. The property supports second-growth tropical forest, although there are numerous clearings at lower elevations.

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The infrastructure within the immediate area of the Mirador property is shown in Figure 5-1. The Mirador exploration camp is supplied with electricity from the local power grid, with lines that follow the Rio Quimi out past Tundayme to Chuchumbleza.

It is predicted that the Ecuadorian electrical power grid will not be able to supply sufficient power to meet the future needs of the Mirador Project, which for the present mining plan are estimated to be 28.3 megawatts. The balance of power required can either be purchased from an existing hydroelectric generator, or can be supplied by a project developed for the mine. Whether Corriente develops its own hydroelectric project or purchases power from an existing hydroelectric generator, the strategy is to interconnect with the Ecuadorian electrical grid: Sistema Nacional Interconectado ("SNI"). This allows the mine to purchase power from an alternate source should the primary source be unavailable, and allows the sale of excess energy in the case of a Corriente owned hydroelectric plant.

The closest existing airstrip is at Gualaquiza, about 25 km (40 km by road) to the northwest of the deposit. It has an asphalt runway 2,075 m long. The availability and sources of water, mining personnel, potential tailings storage areas, potential waste disposal areas and processing plant sites are discussed at length in the May 2005 Feasibility Study Report (AMEC 2005).

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BHP Billiton began regional exploration in southeastern Ecuador in 1994 and identified a number of possible porphyry copper targets in the region. In April 2000, BHP Billiton and Corriente entered into an agreement covering 230 sq km of mineral concessions in the southern part of the region, including the area of the Mirador property.

Corriente has carried out exploration on the Mirador property since April 2000. The work completed included geological mapping, geochemical soil sampling, rock chip sampling, and the completion of 36,284 m of core drilling in 143 diamond drill holes in three main programs. Corriente, through its wholly-owned subsidiary companies in Ecuador, holds a 100% interest in the Mirador property. Billiton holds a 2% Net Smelter Royalty interest in the Mirador deposit.

Corriente conducted 11,935 m of core drilling in 2005, as the last phase of drilling. Much of this 52-hole program involved the drilling of angled infill drill holes that were intended to better define the early porphyry dikes, which account for most of the lower-grade zones in the deposit, and post-mineral dikes. A six-kilometer pilot road was pushed through to the east side of the deposit from the existing access road leading south from the camp, creating better access to the drill platforms.

Corriente released the first NI 43-101 compliant report on Mirador in February 2003 (Makepeace and Dawson, 2003), entitled "Mirador Project – Order of Magnitude Study". This was a Preliminary Assessment report and reported a diluted Inferred Resource, at a 0.65% copper cut-off, of 182 MT at 0.76% copper. This estimate used the sectional method and geological solid models created using data from surface mapping and the 62 drill holes that had been completed at that time. For purposes of comparison, an "undiluted" resource was also estimated using a simple "Grade-Thickness" method, which summed intervals of greater than 15 metres of 0.65% copper or higher, and divided the sums by their spatially interpolated grade-thickness averages. This gave an estimate of 128 MT at 0.79% copper.

The first block-model based mineral resource estimate in National Instrument 43-101 ("NI 43-101") Technical Report format for the Mirador Project was written by AMEC and released in October 2004 (Lomas, 2004). At a 0.4% copper cut-off, Indicated resources were estimated as 310 MT of 0.66% copper and 0.20 g/t gold, with additional Inferred resources of 315 MT of 0.56% copper and 0.17 g/t gold. In November 2003, Corriente commissioned AMEC (Vancouver, Canada) to be the primary consultant for the preparation of a bankable feasibility study for the Mirador Project (AMEC 2005), and the resource estimated by Lomas (2004) was used as the basis for the study. Although the Feasibility Study Report was completed in May 2005, no follow-up NI 43-101 report was completed to convert the in-pit mineral resources to mineral Reserves.

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In the fourth quarter of 2005, Corriente retained MDA (Reno, Nevada) to prepare an updated mineral resource estimate and to conduct pit optimization studies followed by a reserve estimate. The purpose of the mineral resource estimate update was to incorporate the new data from the fifty-two new drill holes completed in 2005 into the resource model. MDA relied upon the results of previous work, and, unless there were compelling reasons to do otherwise, used procedures similar to those used by AMEC in the preparation of the 2004 mineral resource estimate (Lomas, 2004).

A NI 43-101-compliant Technical Report for the Mirador Project written by MDA and filed by Corriente on SEDAR in December 2005, but this report was subsequently revised and reissued in May 2006 (Sivertz et al., 2006a), and reported Measured and Indicated Mineral Resources of 437,670,000 tonnes grading 0.61% Cu, 190 parts per billion (ppb) gold, and 1.5 parts per million (ppm) silver, at a 0.40% Cu cut-off grade. Inferred Mineral Resources, also at a 0.40% Cu cutoff, were stated as 235,400,000 tonnes grading 0.52% Cu, 170 ppb gold, and 1.3 ppm silver. The MDA estimate places more material in the Measured and Indicated resource category than was reported by AMEC in 2004, at a slightly lower grade. These changes are the direct result of the inclusion of new data from the 2005 infill drilling program.

The last NI 43-101-compliant Technical Report for the Mirador Project was also written by MDA and filed on SEDAR by Corriente in December 2006 (Sivertz et al., 2006b). This report included the adjacent Mirador Norte porphyry copper deposit within the Mirador Project. It reported the resource estimation on Mirador from the previous Technical Report, together with a current, first-time resource estimation on the Mirador Norte deposit. No pit-shell work has been done at Mirador Norte and therefore this report is based only on resources from the main Mirador deposit.

The Feasibility Study of AMEC (2005) developed a mine plan based on a mining rate of 25,000 tpd and 111 MT of ore grading 0.67% Cu and 0.22 g/t Au, using the resource estimate from Lomas (2004) as a basis. They calculated 91 MT of waste rock would be removed over the 12-year mine life, resulting in an average strip ratio of about 0.8:1. Only Indicated material, as defined by NI 43-101, from the resource estimate was considered in generating the open-pit floating cones.

In 2006, Corriente filed three NI 43-101 technical reports on Mirador in-pit resource estimates, all completed by MDA (see Sivertz et al. 2006a and 2006b); these are tabulated in Table 6-1. The resources listed are contained within designed pits, which include haul roads, ramps and use variable pit slopes based on geotechnical studies. Measured and Indicated materials were allowed to make a positive economic contribution, and Inferred material was considered waste.

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The significant change from the AMEC feasibility was an increase in pit size (111 MT to 347 MT), which was the result of not limiting the mine life. The mine life for the 347 MT scenario would be 39 years at 25,000 tpd, or 22 years when the milling rate is increased to 50,000 tpd in Year 6 of operations. The floating cone parameters are shown in Table 6-2.

MDA designed an ultimate pit using the base-case floating cone (Cu $1.00/lb, Au $400/oz) as a template. Haul roads were designed with a maximum 10% grade and a width of 22 m. This should accommodate haul trucks of 90-tonne capacity, which are about 7-m wide.

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AMEC reported preliminary pit slope angles and designs in the 2005 feasibility. These slopes, adjusted for inclusion of ramps were used in the MDA floating cone runs. Corriente engaged Piteau Associates ("Piteau") to continue with the geotechnical work and recommend final pit slopes, a work that was still in process at the time of MDA's report writing. Piteau provided preliminary slope-angle ranges and design sectors, the more conservative of which were used in these pit designs. The conservative Piteau angles were similar to the AMEC slopes.

Most recently, in early 2007, MDA recalculated in-pit resources based on a 27,000 tpd milling rate on 181 MT of ore over a 19-year mine life (SNC-Lavalin, 2007). In-pit resources were developed by applying relevant economic and engineering criteria to MDA's estimated Measured and Indicated resources. The in-pit resources were limited to 181 MT primarily to keep capital costs down, which are dependant on, amongst other things, concentrate haulage volumes and waste rock management. As before, only Measured and Indicated materials were allowed to make a positive economic contribution, and Inferred material was considered waste. The 181 MT of ore would grade 0.62% copper, 0.2 g/t gold, 1.6 g/t silver, and would be mined at a 0.8:1 strip ratio.

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A fourth phase of drilling was conducted at Mirador between December 2003 and April 2004. A total of 8,091 m of core drilling was completed in 29 holes (M63 to M90, including M74 and M74A).

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After the drill holes were completed, the collar locations were marked with a large PVC pipe capped with a plastic cover. The drill-hole collars were surveyed by Segundo Toledo Peláez of Topcon Survey S.A., using a total station brought in from differential GPS control points with a reported instrument accuracy of }1 m (X-Y) and }2 m (Z).

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• Core from the core tube is placed in wooden boxes, each holding five metres of core. When picked up at the drill, all the core box lids were secured and the boxes were packed out on mules or on foot by workers to the road, then loaded onto trucks and delivered to the Mirador camp. Corriente staff then opened the boxes and converted the drill hole depth markers from feet to metres. The core boxes were then placed on a stand and photographed in natural light.

• The core was marked at one-metre intervals by a geotechnician, who then measured the core recoveries and RQD. Technicians completed a preliminary drill log, wherein they recorded the core recovery, structural features, fracture density and orientation, and rock quality designation (RQD).

• Leached zone (cap): five metres;

• Supergene copper-enriched zone: two metres;

• Hypogene (primary sulfide) zone: three metres; and

• Post-mineral dike: five metres.

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In all the drilling campaigns, Corriente used consistent strategies for sampling, sample preparation, and sample analysis. Split drill core samples were sent to preparation facilities in Ecuador, and 100-gram pulp sub-samples were shipped to analytical laboratories in Vancouver, Canada. Copper was analyzed by atomic absorption spectroscopy ("AAS") methods, and gold was determined by fire assay on a 30g sample with an AAS finish. The laboratories used were Bondar Clegg and Chemex, and then the merged lab ALS Chemex, for the early drill programs, and ACME for the 2005 drilling. There are a total of 11,179 assayed drill intercepts, not including internal duplicates and standards.

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• feasibility bench-scale flotation test program (batch and locked cycle flow sheet development and locked cycle variability testing),

• comminution testing (BWI, RWI, CWI, Ai and JK and SMC drop-weight testing) and modeling (JK SimMet),

• QEM*SEM characterization of composite samples for variability testing,

• concentrate characterization and dewatering, and

• MinnovEX Technologies Inc, comminution testing (SPI) and modeling (CEET).

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The recent metallurgical test work by G&T in 2007 done on samples obtained during the 2006 drill program by Corriente (see Figure 16-1: 2006 Metallurgical DDH at Mirador) characterized the metallurgical behaviour in locations of the Mirador deposit that were outside and deeper than the original test work done by SGS, as well as concentrated within the Phase 1 pit.

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In the hypogene material, the main grade shell, used for copper, gold, and silver, is defined by the change from grades dominantly above ~0.4% Cu to grades dominantly below ~0.4% Cu. This shell appears to be related to stockwork-dominated mineralization (above ~0.4% Cu), as opposed to disseminated-dominated mineralization (below ~0.4% Cu). A clear, albeit gradational (~0.2% Cu to ~0.6% Cu) separation is shown on quantile plots of the copper distribution. To compensate for the gradational changes in grade, two more shells were defined at ~0.2% Cu and ~0.6% Cu. These shells were defined manually (as opposed to using estimation, i.e., using indicators, to account for local changes and variable drill hole and sample spacing).

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The previously described styles and interpretations of mineralization have statistical support, as there is sufficiently good correlation (statistically) between hypogene precious metal and copper mineralization to utilize the same shells for both.

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The volume outside the main hypogene mineralization (outside the ~0.4% Cu shell) was estimated using all composites from outside the 0.6% Cu shell.

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