Apoquindo Minerals Inc.
TSX VENTURE : AQM

Apoquindo Minerals Inc.

January 18, 2010 09:00 ET

Apoquindo Reports Interval of 112m of 0.79% Cu as Part of First Assay Results for Zafranal Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Jan. 18, 2010) –

Highlights:

  • First RC Hole ZFRC09-033 has 112 metre interval (126m to 238m) of 0.79% Cu, including 45m (139m to 184m) of 1.21% Cu
  • Results show good correlation with historic diamond drill hole
  • Aggressive step-out drilling continues on an 80m x 100 m grid

Apoquindo Minerals Inc. ("Apoquindo" or "the Company") (TSX-V: AQM), through its wholly owned Peruvian subsidiary, Minera KoriTambo SAC, is pleased to announce the first results of the 2009-2010 RC/core drilling program at the Zafranal project, Department of Arequipa, Peru. Apoquindo can acquire an initial 51% interest in the project from Teck Resource Limited's Peruvian subsidiary Teck Cominco Peru S.A. ("Teck"), subject to a back-in right and royalty reserved to Teck, as described in the May 14, 2009 press release.

Results from the first Reverse Circulation ("RC") hole drilled by the Company in Zafranal, hole ZFRC09-033 (using a 0.2% Cu cut-off grade), are summarized below, and they compare well with results from a nearby hole drilled in 2004 by Teck (shown in italics):

Hole N. From (m.) To (m.) Interval (m.) CuT%
ZFRC09-033 AQM 126 238 112 0.79%
Incl. 139 184 45 1.21%
ZFDDH04-02 TECK 136 240 104 0.88%
Incl. 144 192 48 1.27%

The leached capping of the first RC hole extended, as expected, to a depth of 126 meters, followed by chalcocite-enriched altered volcanic units intruded by several generations of diorite, quartz-diorite and microdiorite intrusive bodies. Below the enrichment blanket is a mixed zone showing both primary chalcopyrite and secondary chalcocite mineralization, followed by lower-grade primary copper mineralization hosted in diorite intrusive.

"Our drill program has started smoothly and the first RC results are certainly encouraging", comments President Bruce Turner. "Two diamond drills have been added to the initial RC rig and we look forward to a steady stream of drill results from our 40,000 meter drill program. In addition to our in-fill drilling in the main zone, several satellite targets look very attractive and will also drilled aggressively."

Zafranal is located 90 km northwest of Arequipa, Southern Peru. Zafranal was first discovered by Teck in 2003 through a generative exploration program within the northern segment of Peru's Porphyry Copper Belt, which is home to several major copper deposits, such as Southern Copper's Toquepala and Cuajone mines, Anglo American's Quellaveco Project and Freeport MacMoran's Cerro Verde mine.

The Company has established a rigorous QA/QC program at Zafranal which includes the insertion of blanks, duplicates and certified standards into the sample stream. Core is photographed on site and subsequently sawed in half, with one half sent for analysis and the other is stored for future reference and assay verification. RC chips are split twice on site using a riffle splitter, with 25% of the sample being sent to the laboratory for assay and the rest stored for future verification purposes. All Zafranal samples are shipped to ALS Chemex´s sample preparation facility in the city of Arequipa, where they are crushed and pulverized. Prepared samples are shipped to ALS Chemex´s certified laboratory in Lima where they are analysed for gold, copper and multi-element ICP.

Dr. Tom Henricksen, consultant geologist of the Company and Chief Geologist for Minera KoriTambo, the Company's Qualified Person for the purposes of NI 43-101, has approved the information contained in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce Turner, President and CEO

ABOUT APOQUINDO: The Company is a Canadian based mineral exploration company whose principal purpose is the acquisition and development of base metal deposits in South America. Through its wholly owned Peruvian subsidiary, Minera Koritambo SAC, the company is developing the Zafranal Copper-Gold Porphyry Project located in the Southern Peru Cu-Porphyry Belt. Please refer to www.apoquindominerals.com for further information regarding the Company and its projects.

Management and directors have extensive experience working for the world's largest mining companies as well as several junior exploration companies. Apoquindo Minerals has offices in Santiago, Chile, Lima, Peru and Vancouver, Canada.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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