EXMIN Resources Inc.

EXMIN Resources Inc.

May 27, 2009 09:30 ET

Hochschild Exercises Right of First Refusal to Purchase EXMIN Interest in Moris Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) announces that it has been notified by Hochschild Mining Plc. (Hochschild) that it will exercise its Right Of First Refusal to purchase EXMIN's 30% interest in Minas Santa Maria de Moris, S.A. de C.V., (MSMM), for U$1.5 million plus IVA, the 15% value added tax in Mexico. MSMM is the Mexican company that owns the assets of Moris mine project.

In late March, EXMIN signed a Letter of Intent to sell its 30% shareholding interest in MSMM to Caza Gold Corp., a private company, which offered to purchase EXMIN's interest in MSMM for U$1.5 million plus IVA. The offer was subject to a Right Of First Refusal by Hochschild, which owns a 70% interest in MSMM and has been the operator of the project since the companies purchased the Moris mine in December, 2006.

Karl J. Boltz, President & CEO stated, "The net proceeds from the sale of the mine will assist EXMIN to recapitalize the Company in a challenging capital financing environment. The Moris mine has not produced any benefit to EXMIN shareholders. The capital raised in the sale of the mine will allow the Company to advance its other projects as Management continues to explore numerous strategic opportunities for the Company."


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.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    EXMIN Resources Inc.
    Investor Relations