October 03, 2007 07:51 ET

Karmin Reports Drill Results From Babacu Massive Sulphide Discovery at Aripuana Zinc-Lead-Silver Project, Brazil

Includes 5.3 Metres Grading 9.0% Zinc, 2.6% Lead

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2007) - Karmin Exploration Inc. (TSX VENTURE:KAR) is pleased to announce a further 4 drill holes from the new Babacu massive sulphide discovery, located 900 metres east of the Ambrex massive sulphide deposit, within Karmin's 30% owned Aripuana zinc-lead-silver massive sulphide district in Mato Grosso, Brazil. The discovery was announced in a Karmin press release on 12th July 2007. The highest grade intersection of the current batch is 5.3 metres grading 9.0% zinc and 2.6% lead and the widest is 22.0 metres grading 5.0% zinc and 2.3% lead (see Table 1 below).

Babacu, Arex, Ambrex and Mocoto massive sulphide bodies have been discovered by Karmin and its partners in the emerging Aripuana massive sulphide district which is considered to lie entirely within Karmin's joint venture area (see map in Fig.1 below). Previous drilling at Ambrex included 42.4 metres grading 13.2% zinc, 5.5% lead and 100 g/t silver (release of Sept 28th 2005), at Arex included 7.1 metres grading 9.9% zinc, 5.4% lead and 214 g/t silver (release of Feb 9th 2006) and at Mocoto included 7.0 metres grading 11.65% Zn and 2.73 g/t gold (see release of 7th Feb 2001).

Table 1. New results from the Babacu mineralization

Hole Core
number From To Length Zinc % Lead %
FPAR 106 358.9 369.2 10.3 3.71 0.52
and 372.2 390.6 18.4 2.19 0.71
FPAR 107 340.9 343.4 2.5 9.09 6.54
and 349.2 354.7 5.3 8.98 2.62
and 358.0 362.9 5.0 7.50 4.23
FPAR 108 Intervals of low grade stringer mineralization
FPAR 109 318.3 322.2 3.9 8.69 1.69
and 335.5 357.4 22.0 4.97 2.29
(ii)Assays for copper, gold and silver for these holes are
still pending.

Sample preparation for was undertaken at ALS Chemex laboratory - Belo Horizonte, Brazil and the pulps analyzed at ALS Chemex laboratory - Lima, Peru using full digestion ICP assay. Full QA/QC procedures were implemented, including the insertion of one out of three standards every 40th sample and blank samples inserted every 40th sample (i.e. every 20th sample was either a standard or blank). Pulp and coarse reject duplicate samples were also inserted every 20th sample. Field duplicate (replicate) were also inserted every 20th sample during some period and now are inserted every 100th sample. Randomly selected check samples are routinely sent to another international laboratory for analysis by ICP on a yearly basis. This procedure is followed systematically by Votorantim, and was their stated procedure for all previously reported results by Karmin for 2007.

The independent engineering company, AMEC is preparing a report entitled "Aripuana Property - National Instrument 43-101 Technical Report". This would be the first ever National Instrument 43-101 compliant report on the property, focuses on resource estimations for the Arex and Ambrex deposits within the Aripuana properties. The report will be published as soon as the final version is received.

Karmin, Anglo-American & Votorantim

Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin through its subsidiary Mineracao Rio Aripuana Ltda. holds 30% of the Aripuana project. Karmin is free carried to the completion of a fully independent bankable feasibility study. The remaining 70% is owned by Anglo American Corporation who is optioning their interest to Votorantim Metais (a division of the privately-held Votorantim Group), the project operator, and Votorantim have already earned 70% of Anglo's interest. Votorantim, the world's 6th largest zinc producer, have three zinc smelters, and are currently purchasing between 55% and 60% of their concentrate needs. Their stated objective is to find more zinc resources from their own mines to feed concentrates to their smelters, rather than rely on external mining companies.

Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The Company has 38,453,591 shares outstanding (41,453,591 fully diluted). William Fisher, P.Geo. President of Karmin is the designated Qualified Person under NI 43-101. He has reviewed this release for accuracy.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

NOTE: To view "Figure 1. Location of Babacu discovery", please click the following link: http://www.ccnmatthews.com/docs/kar1003.jpg

The TSX Venture Exchange neither approves nor disapproves of the information contained in this news release.

Contact Information

  • Karmin Exploration Inc.
    William (Bill) Fisher P.Geo
    President & CEO
    (416) 367-0369
    (416) 868-6467 (FAX)
    Email: wfisher@karmin.com
    Karmin Exploration Inc.
    Robert Ciccarelli
    (416) 367-0369
    (416) 868-6467 (FAX)
    Email: rcicc@karmin.com
    Website: www.karmin.com