Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

January 25, 2008 15:14 ET

Plexmar Resources Inc.: Ecuador Concessions in Good Standing

QUEBEC CITY, QUEBEC--(Marketwire - Jan. 25, 2008) - Distribution of this news release is restricted solely to Canada. It cannot be distributed in the United States through U.S.-based wire services.

Plexmar Resources Inc. ("Plexmar") (TSX VENTURE:PLE) reports that all of its 24 concessions in Ecuador are in good standing. "For the past few months, the government of Ecuador has been reviewing all mining concessions titles. They specifically targeted concessions owners who have not made their yearly patent payments and may have their titles revoked as stated in the mining law. All patent payments on Plexmar concessions have been made." says Guy Bedard, President and CEO.

Plexmar has optioned up to a 60% interest of the Escondida project to Escondoro Resources Inc. as outlined in press release dated Sept.19 2007.

The Escondida project represents one of the largest land positions in the Cordillera del Condor near Aurelian Resources' Fruta del Norte gold discovery. The project covers 85,000 hectares (850 km2) and borders Aurelian's large land package on the western flank and north of Corriente Resources claims. Namely, the northern block covers 28.5 Km of the contact between the Zamora batholith and the Misahualli volcanic formation. (Refer to www.plexmar.com for a map) Fruta del Norte is believed to be the most significant gold discovery made by a junior miner in over a decade.

FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking statements. These statements relate to future events or Plexmar's future economic performance, and carry risks, uncertainties and other factors - both known and unknown - that may appreciably affect the company's accomplishments, economic performance or results when considered in light of the content or implications of statements made by Plexmar. Actual events or results could be significantly different. Plexmar undertakes no obligation, and does not intend, to update these forward-looking statements.

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

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President and Chief Executive Officer
    418-658-6776