WHEREAS, to accelerate mineral production and bolster the national economy, a well planned exploration and systematic development and exploitation of minerals and mineral lands is imperative;

WHEREAS, under the provisions of Presidential Decree No. 463, the President of the Philippines may release areas within existing forest reservations for mining purposes if found to be mineralized;

WHEREAS, in accordance with the aforesaid Decree and the implementing regulations, Lepanto Consolidated Mining Company, upon applications duly filed, was granted by the Bureau of Forest Development Prospecting Permit No. 419-4379 and by the Bureau of Mines and Geo-Sciences Permit to Explore No. 72 covering an area within the Central Cordillera Forest Reservation;

WHEREAS, Lepanto Consolidated Mining Company is presently conducting mining operations on its area adjoining the area of Permit to Explore No. 72, and the ore deposit being mined is known to extend to the permit area as indicated by underground workings and geologic features manifested on the surface, which findings were verified and confirmed by the Bureau of Mines and Geo-Sciences;

WHEREAS, the existence of mineralization in the area adjacent to that of Permit to Explore No. 72 which were already released for mining purposes lends credence to the fact that the area sought to be released is also mineralized; and

WHEREAS, Lepanto Consolidated Mining Company requests the exclusion of said area from the Central Cordillera Forest Reservation;

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 an area within the Central Cordillera Forest Reservation established under Proclamation No. 217 dated February 16, 1929, be excluded from the operation of said Proclamation and the development, exploitation and utilization of the minerals found therein is awarded to Lepanto Consolidated Mining Company, subject to existing rights, if any there be, and to existing policies, laws, rules and regulations pertinent thereto, and which area is more particularly described, as follows:

Beginning at pt. 1 (16°50' 27.71 "N Lat., 120°48' 40.75" E Long.) which is N 18°00'w, 120.00 m. from tie point at Barrio Bulalacao, Mankayan, Benguet, Luzon (16°50.4N Lat., 120 48.7 'E Long.);

Thence N	53°44'W, 91.31m. 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	Due North, 54.00 m. to pt 14;
Thence N	24°47'E, 42.95 m. to pt. 15;
Thence N	N33°4l 'E, 50.48 m. to pt. 16;
Thence N	N60°03'E, 102.08 m. to pt. 17;
Thence N	N81°00'E, 190.00 m. to pt. 18,
Thence N	53°WE, 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, 358.84m. to pt. 22;
Thence S	05°00'E, 345.00m. to pt. 23;
Thence S	46°00'W, 80.00 m. to pt. 24;
Thence S	46°00'W, 80.00 m. to pt. 24;
Thence S	20°00'W, 102.70m. 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	S50°00'W, 240.00 m. to pt. 26;
Thence	S79°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 excluded is hereby declared a mineral reservation, and the disposition thereof shall be governed by Presidential Decree No. 463 and the rules and regulations on the matter.

This Decree shall take effect immediately.

Done in the City of Manila, this 14th day of May, in the year of Our Lord, nineteen hundred and eighty.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JOAQUIN T. VENUS, JR.
		Presidential Assistant