NEW OROPERU RESOURCES INC.  Notes to Consolidated Financial Statements (Expressed in US dollars)  Years ended December 31, 2012 and 2011  4. EXPLORATION AND EVALUATION ASSETS  (Continued)  e)  Realization of Assets  f)  Environmental 5. TRADE PAYABLES AND ACCRUED LIABILITIES The investment in and expenditures onexploration and evaluationproperties comprise a significant portion of the  Company’s assets. Realization of the Company’s investment in these assets is dependent upon the establishment  of legal ownership, the attainment of successful production from the properties or from the proc eeds of their  disposal. Resource exploration and development is highly speculative and involves inherent risks. While the rewards if an ore  body is discovered can be substantial, few properties that are explored are ultimately developed into producing  mines. There can be no assurance that current exploration programs will result in the discovery of economically  viable quantities of ore.  The amounts shown for acquisition costs and deferred exploration expenditures represent  net costs incurred to  date, less impairment charges,and do not necessarily reflect present or future values. These  amounts will be  depleted over the useful lives of the properties upon commencement of commercial production or written off if the  properties are abandoned , impaired or the claims allowed to lapse.  The Company is subject to the laws and regulations relating to environmental matters i n all jurisdictions in which it  operates, including provisions relating to property reclamation, discharge of hazardous materi al and other matters.  The Company may also be held liable should environmental problems be discovered that were caused by  farm-out  participants, former owners and operators of its properties , and properties in which it has previously had an interest.  The Company is not aware of any existing environmental problems related to any of its current or former properties  that may result in material liability to the Company.  Environmental legislation is becoming increasingly stringent and costs and expenses of reg ulatory compliance are  subject to uncertainty . The impact of new and future environmental legislation on the Company’s operations may  cause additional expenses and restrictions.  If the restrictions adversely affect the scope of exploration and developmen t on the exploration and evaluation properties, the potential for production on the properties may be diminished or negated. December 31, 2012 December 31, 2011 Trade payables 45,513 $ 45,698 $ Accrued liabilities 22,500 27,000 68,013 $ 72,698 $ 17 