Amerix Precious Metals Corporation
TSX VENTURE : APM
FRANKFURT : NJG

Amerix Precious Metals Corporation

January 23, 2008 12:02 ET

Amerix Announces That Drilling Resumes at Ouro Roxo and Grants Options

TORONTO, ONTARIO--(Marketwire - Jan. 23, 2008) - Amerix Precious Metal Corporation ("Amerix" or the "Company") (TSX VENTURE:APM)(FRANKFURT:NJG) announces that core drilling has resumed at the Ouro Roxo deposit on Amerix's Vila Porto Rico Property in the Tapajos District, Brazil. This is the post-holiday resumption of the Company's new drilling program that commenced in early September as reported in Amerix's press releases dated October 1 and October 25, 2007. The upcoming drilling is being concentrated in the Ouro Roxo North area and will continue to test both the lateral and up dip continuity of the high-grade zones revealed by previous drilling. Amerix will also re-drill at least two holes drilled previously by RTZ for certification purposes.

Jeffrey Reeder, President and CEO of Amerix states: "The results of the new drilling program have been very encouraging extending the Ouro Roxo gold-mineralized zone at least 600 metres further north than the previously known three kilometre long mineralized structure. Mineralization continues to be open to the north towards the Pacu River." Amerix reported in a press release dated December 13, 2007 the assay results for the first eight holes including an intercept of 10.2 g/t Au over 10.7 metres in hole AORN 64. Samples from the additional 18 holes drilled before the holiday break await analysis at SGS Geosol Laboratorios Ltda. in Belo Horizonte, Brazil.

At the annual and special meeting of shareholders of Amerix held on Thursday, January 17, 2008, the shareholders of the Company elected the four nominees of management, Jeffrey Reeder, Gregory Liddy, William Whitehead and Luciano Borges, to the board of directors of the Company and approved the new stock option plan of the Company described in the management information circular dated December 17, 2007. Subject to regulatory approval, Amerix has granted incentive stock options to its directors, officers, consultants and employees under the new stock option plan for the purchase of 2,500,000 common shares of the Company for a period of five years at a price of 30 cents per share. The grant of incentive stock options contemplated in the press release dated December 3, 2007 was not completed.

The board of directors of Amerix has appointed Jeffrey Reeder, Gregory Liddy and William Whitehead as members of the audit committee of the board of directors and has appointed Gregory Liddy as chairman of such committee.

About Amerix Precious Metals Corporation

Amerix Precious Metals Corporation is an Ontario corporation exploring for precious metals in Brazil. Vila Porto Rico and Limao are gold projects in the Tapajos Gold Province in Brazil. The common shares of Amerix trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJG". Additional information regarding the Corporation, including the audited consolidated financial statements of Amerix for the financial year ended July 31, 2007, and related management's discussion and analysis of results, can be found on SEDAR at www.sedar.com.

The technical and scientific information in this release has been reviewed by Mr. Lawrence Snee, Senior Consulting Geologist of Amerix, a Qualified Person as described in NI 43-101, a geologist with more than 30 years of experience. Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Amerix. The grades identified herein are not fully defined, there is insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the discovery of an economic mineral resource on any of the properties. Actual results may differ materially from those currently anticipated in such statements.

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

Contact Information

  • Amerix Precious Metals Corporation
    Jeffrey Reeder
    CEO and President
    (647) 302-3290
    or
    CHF Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079, Ext. 225
    or
    Studer Consulting
    Marlies E. Studer
    +41 44 215 28 03