Pediment Exploration Ltd.
TSX VENTURE : PEZ
FRANKFURT : P5E

Pediment Exploration Ltd.

January 08, 2008 14:38 ET

Pediment Exploration Ltd.: Los Planes Drill Intersects 10.6 m of 13.3 g/t Within 50 m of 4 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Pediment Exploration Ltd. (TSX VENTURE:PEZ) is pleased to report continuing results for an additional seven RC holes from the Los Planes zone at the San Antonio gold project in Baja California Sur, Mexico. These include the high-grade results noted above, and also show further expansion of the system to the south and the northeast. Drilling with two rigs has resumed at San Antonio after the Christmas break.

The updated Los Planes drill plan can be found at the link below. Updated drill sections will be added to the company website shortly: http://www.pedimentexploration.com/i/pdf/2008-01-08_NRM.pdf

West-Central Planes

PLRC-62 was drilled at an angle of -70 degrees, east from the same site as PLRC-05 (angled at -50 degrees) which returned three separate 1.5 m sections of 19.5, 10.6, and of 15.9 g/t within 9 m of 12.4 g/t gold; and PLRC-18 (vertical) which returned contiguous 1.5 m sections of 8.8 and 12.8 g/t gold. These are located 100 metres south of PLRC-07 (12.2 m of 19.9 g/t within 84 m of 3.8 g/t gold) and there are no intervening results between these two set-ups, to date.



Table 1. Detail of new drill-assay results for west-central Los Planes
zone.


From To Interval Gold
(metres) (metres) (metres) g/t Comments
PLRC-62 110.3 160.6 50.3 4.0 Sulphide zone
including 130.2 146.9 16.7 10.8
or 130.2 140.8 10.6 13.3
or 130.2 133.2 3.0 18.7
and 166.7 180.4 13.7 1.1 Sulphide zone
and 188.1 238.4 50.3 1.0 Sulphide zone
Including 223.1 230.7 7.6 3.0


The overall sum of these three intercepts (50.3 m + 13.7 m + 50.3 m) is 114.3 meters of 2.3 grams gold per ton, or 86 metres true width, corrected for the approximate dip of the body. PLRC-62 is the only hole at this set up to drill completely through the zone.

Northern-east Up-dip Los Planes Extension

Results are complete for four new holes in this area. PLRC-29 both confirms oxide mineralization up-dip to the east from the core area and higher-grade sections 200 metres east of PLRC-07. PLRC-33 and 36 confirm the northeast extension indicated by PLRC-37 (see release dated December 07, 2007). PLRC-42 indicates the system continues for 150 metres to the north of the previous northern results.



Table 2. Detail of new drilling assay results for the northern up-dip, Los
Planes zone.

From To Interval Gold
(metres) (metres) (metres) g/t Comments
PLRC-29 64.4 122.2 57.8 1.13 Oxide & mixed to 110
metres
including 75.0 76.5 1.5 8.13

PLRC-33 138.4 200.9 62.5 1.31 Sulphide zone

PLRC-36 95.1 151.5 56.4 1.17 Sulphide zone
including 131.7 145.4 13.7 3.00
Including 134.7 136.2 1.5 7.93

PLRC-42 84.4 96.6 12.2 0.68 Mostly oxide zone


Southern extension

The results of PLRC-55 extend the zone further south from previous releases by 50 metres with oxide material of good grade, while it and PLRC-52 on the western side of the system confirm the broad section of oxidized mineralized material continues south into this unpredicted area.



Table 3. Detail of new southern up-dip on-strike extension of Los Planes
zone.

From To Interval Gold
(metres) (metres) (metres) g/t Comments
PLRC-52 38.7 52.4 13.7 0.80 Mixed oxide-sulphide zone
and 58.5 75.3 16.8 0.51 Mixed zone
and 102.7 168.3 65.5 0.92 Sulphide zone

PLRC-55 27.4 36.6 9.2 1.54 Oxide zone
and 64.0 74.7 10.7 0.41 Mixed oxide-sulphide zone
and 82.3 85.3 3.0 0.61 Sulphide zone
and 118.9 123.4 4.6 0.90 Sulphide zone


VP of Exploration Mel Herdrick states that, "With more than 70 drill holes completed in the Los Planes area, there is overwhelming evidence that a large new gold resource is being outlined, and now we are also seeing the potential for a high grade north-south trend correlating with intersections in holes PLRC-7 and 62." Mel Herdrick is a qualified person as defined by NI 43-101 and has approved the information contained in this release. The project supervisor is geologist Pedro Teran, B.Sc.

Gary Freeman, President and CEO

PEDIMENT EXPLORATION LTD.

Vancouver, British Columbia

We Seek Safe Harbour.

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 27E of the U.S. Securities Exchange Act of 1934, as amended, regarding further drill results of the Los Planes zone from the San Antonio project. Such statements include, without limitation, statements regarding the timing of future exploration activities by the Company, future anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans, potential mining scenarios, the success of mineral processing procedures, business trends and future operating costs and revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, and the U.S. Securities and Exchange Commission's Electronic Data Gathering and Retrieval (EDGAR) System at www.sec.gov, for a more complete discussion of such risk factors and their potential effects.

This press release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises that the U.S. Securities and Exchange Commission's mining guidelines prohibit information of this type in reports filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such adjacent or similar properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

All of the Company's public disclosure filings may be accessed via www.sedar.com and www.sec.gov, and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities.

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

Contact Information

  • Pediment Exploration Ltd.
    Gary Freeman
    (604) 682-4418
    or
    Pediment Exploration Ltd.
    Michael Rapsch
    (604) 682-4418
    (604) 669-0384 (FAX)
    Website: www.pedimentexploration.com