SILVER
Following is a selection of PAST RECOMMENDATIONS

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Arian Silver Corp.(TSXV:AGQ)
Silver exploration in Zacatecas, Mexico
the most recent follow-up: No. 3/November 2, 2011

Aurcana Corp.(TSXV:AUN)
On track to produce 5 million ounces of silver in Mexico and Texas
the most recent follow-up: No. 7/April 17, 2013

Avino Silver & Gold Mines(TSX-V/NYSE:ASM)
Low-cost/high-grade silver producer: to double production in two years
new recommendation: March 20, 2013

Endeveavour Silver Corp. (TSXV:EDR)
Projects located within the mexican silver belt
first recommendation: January 31, 2006 at $3.16
the most recent follow-up: No.8/June 27, 2012


First Majestic Silver Corp. (TORONTO:FR)
On the road to producing 7.5 million ounces of silver in Mexico
the most recent follow-up: No. 2/June 3, 2009

Fortuna Silver Mines Inc. (TSX:FVI/NYSE:FSM)
Building a leading silver mine production target of 7 million ounces silver eq. in 2014
the most recent follow-up: No. 1/February 10, 2014

Great Panther Res Ltd.(TSX:GPR)
The fastest growing primary silver producer in Mexico
the most recent follow-up: No 4/May 16, 2012

Mandaley Resources(TSX:MND)
Producing 4.65 million oz of silver equivalent and 2500t of antimony in 2012 in Chile and Australia. Increased resource estimate in 2013
new recommendation: January 23,2013

Oremex Resources Ltd. (TSXV:ORM)
High grade silver resource in Bolivia with a positive economic analysis for development
new recommendation: November 3, 2010

Rockgate Capital Corp. (TSXV:RGT)
Uranium, silver and gold in West Africa
new recommendation: January 12, 2011

Sabina Silver Corp. (TSXV:SBB)
The world?s largest new nickel sulfinde deposit in British Columbia
the most recent follow-up: No 2/ April 21, 2010

Santacruz Silver Mining Ltd (TSX:SCZ)
Three promising silver projects in Mexico with the first one going into production in 2013 with a target of 800k to 1000k AGEQ
the most recent follow-up: March 17, 2014

Santana Minerals Ltd (AUX:SMI)
Exciting exploration projects in Mexico and Australia at the value of cash on the bank
new recommendation: June 5, 2013

Silver Bull Resources Inc. (TSX:SVB)
84.2 M ounces of silver and 1,105 M pounds zinc in all categories (117.7 M ounces of silver equivalent) in Mexico
he most recent follow up: No. 1/ April 3, 2013

Silvercrest Mines Inc. (TSXV:SVL)
High grade silver deposits in El Salvador and Mexico
the most recent follow up: No. 17/January 6, 2014

Silver Standard Resources (TSX:SSO/NASDAQ NM:SSRI)
The largest in-ground silver resource of any publicly-traded company
the most recent follow up: No. 10/June 17, 2008

Tahoe Resources Inc. (TSX:THO)
Building a world class silver mine in Guatemala
the most recent follow up: No. 3/April 10, 2013



SILVER: A Great Buy Opportunity! Up-date N 27 / January 13, 2014

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RECOMMENDATIONS ZIHLMANN INVESTMENT MANAGEMENT AG