Plexmar Resources Inc.

Plexmar Resources Inc.

June 22, 2010 18:30 ET

Plexmar Resources Inc.: Clarifications

QUEBEC CITY, QUEBEC--(Marketwire - June 22, 2010) - Plexmar Resources Inc. (TSX VENTURE:PLE) wishes to rectify information published on the Internet by Radio Cutivalu (Piura-Peru) on June 6th 2010 regarding the press release issued on June 3rd 2010 on the contractual agreement reached with Minera Trece Barras SAC for the Bolsa del Diablo project;

  1. Plexmar has not signed a merger agreement or any kind of association agreement with Trece Barras. Trece Barras is a private company funded by Peruvian capital.
  2. Also, Plexmar has not signed any type of services contract with Trece Barras
  3. Plexmar wishes to inform the international public opinion that any type of Mining Contracts signed by Plexmar must be done and executed according to the legal system of the country where the concessions are located. It is not a requirement of Plexmar but rather one from the General Mining Law of Peru that Trece Barras have to fulfill their legal obligations before exploring and producing from the property.
  4. Plexmar clarifies that, as a public Company, it is obligated to strictly follow the legal norms for any type of business transactions done in Peru. As a result, it cannot enter into a transaction with natural and/or legal entity that do not have the requirements imposed by the General Mining Law, as is the case with the local artisanal miners located in the Department of Piura.

172 M shares outstanding

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither 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.

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    418-658-6776 ext.107
    Paradox Public Relations