EXMIN Resources Inc.

EXMIN Resources Inc.

December 11, 2007 11:38 ET

EXMIN Samples High Grade Gold, Silver, Copper and Lead in New Gold District in the Sierra Madre Precious Metal Province, Northern Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2007) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to announce that it has acquired concessions covering much of a new mineral district in the Sierra Madre province of Northern Mexico in an area that has remained largely unrecognized by other explorers. The area, acquired 100% by EXMIN through staking, contains several areas of mineralization with abundant prospects and several past producing small mines. One area, San Patricio, has yielded as much as 9.4 grams per metric ton (g/t) gold, more than 1,500 g/t silver, 9.2 % copper and more than 20 % lead over a sample length of 3.5 metres in a small mine. A previously unexplored area of altered and mineralized rock surrounds the mine and provides a large scale exploration target; first pass sampling in this area has yielded 2.37 g/t gold and 3,928 g/t silver from a small mine dump.

The project consists of two concessions that were staked by EXMIN and covers about 48,500 hectares in an area with multiple gold occurrences and mineralized prospects but with little current exploration activity.

Craig Gibson, Executive Vice President of Exploration for EXMIN, stated, "This acquisition is in line with our goals for exploration in Mexico. EXMIN has been able to stake much of an entire district with multiple known mineral occurrences. With the increase in activity in the Sierra Madre Occidental, our early presence in the region and our ability to put boots on the ground has been important in keeping EXMIN a step ahead of the competition."

The Targets

The project lies on the trend of mineralization observed at other Sierra Madre projects. The district contains Tertiary volcanic rocks, consisting of rhyolite and andesite flow and breccia, that overlie probable Cretaceous sedimentary rocks, and both units locally exhibit strong alteration. Mineralization is commonly associated with strongly silicified rhyolitic rocks near the base of the unit at or near the contact with underlying sedimentary rocks. Veins are locally important. There are multiple small mines and prospects in the region, and EXMIN crews have been cataloguing the numerous occurrences and completing first pass exploration in order to evaluate them.

At San Patricio, EXMIN encountered a small mine worked informally by "gambusinos" in the past. Sampling by EXMIN in 2007 has yielded gold, silver and base metal values in a relatively flat-lying tabular breccia or manto formed at the base of rhyolitic volcanic rocks where they overlie limestone (please see table of assay values below). The area was declared open for staking by the Mexican government and was awarded to EXMIN in a lottery with two other interested parties. This mineralized body contains quartz and calcite in abundant veins with no preferred orientation, as well as in breccia cement and is at least 3-5 metres thick based on available exposures.

A large area of alteration and mineralization surrounds the San Patricio mine area and provides a large exploration target. The area is poorly exposed and is partly covered by soil, and was tested by soil sampling on a 25 metre grid measuring 100 by 150 metres; most samples are anomalous for the same elements as observed in the rock samples, with as much as 0.4 g/t gold, 18.9 g/t silver and strongly anomalous lead values. Isolated rock samples from the region also yield interesting assay values with anomalous metal gold, silver and lead (see table below). This data suggests that a large mineralized system may be present, and more work is planned for this area.

Assay values from the San Patricio mine
Sample Width (m) Au (g/t) Ag (g/t) Cu (%) Pb (%)
6122 1.3 0.391 136 - 0.5
6123 2.0 2.02 1,190 0.7 4.9
6124 1.0 0.164 75.7 0.1 0.5
6125 3.0 3.34 1,677 1.1 7.7
greater than greater than
6126 3.5 9.37 1,500 9.2 20

Selected assays from the San Patricio surface area
Sample Width (m) Au (g/t) Ag (g/t) Pb (%) Type
6538 4.0 0.020 51.5 0.6 rock
6539 3.0 0.016 14.0 0.2 rock
6540 4.0 0.124 94.2 1.4 fault
6541 3.0 0.058 33.7 0.6 rock
6542 2.5 0.872 97.0 0.6 vein
6543 3.0 0.357 132 0.8 rock
6544 dump 0.641 396 1.9 dump
6550 3.5 0.028 12.6 0.2 rock
6551 4.0 0.032 15.0 0.1 rock
6552 4.5 0.137 50.7 0.1 rock
6553 4.5 0.231 161 0.3 rock
6554 2.5 0.009 4.5 0.1 rock
6555 3.0 0.080 24.9 0.2 rock
6556 3.0 0.093 30.0 0.2 rock
6557 3.5 0.164 169 0.7 rock
6558 3.5 0.707 172 0.7 rock
6566 2.3 0.324 6.5 - vein
6567 1.0 0.106 10.6 - vein
6568 1.5 0.286 24.3 0.1 vein
6569 dump 1.34 320 1.2 dump
6570 3.0 0.335 3.6 - rock
6571 dump 0.605 42.8 0.1 dump
6574 2.5 0.096 38.8 - rock
6575 3.0 0.192 52.1 - rock
6576 dump 2.37 3,928 0.2 dump
6577 0.2 0.834 557 0.1 vein
6578 2.5 0.308 53.8 0.2 rock

Quality Assurance

All samples were taken by EXMIN in 2007, consisted of 1.2 to 2.3 kg of material, and were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Gold analyses were performed by 30 gram fire assay with an AA finish; samples with more than 10g/t gold were analyzed by fire assay and gravimetric methods. Silver and the base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver or more than 1% base metals were analyzed by AA. Samples with more than 1,500 g/t silver are re-analyzed by gravimetric methods, with one sample pending. Sample data reported are from preliminary data reported by ALS Chemex.

Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration, is the authorized professional geologist for EXMIN Resources Inc. and the direct manager of all technical programs and information on the part of EXMIN.


EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico as well as in other highly mineralized areas of Mexico.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    EXMIN Resources Inc.
    Investor Relations
    Email: info@exmin.com
    Website: www.exmin.com