Amerix Precious Metals Corporation

Amerix Precious Metals Corporation

April 02, 2012 12:06 ET

Amerix Completes IP Survey Over Gold Targets at Limao Property, Brazil

TORONTO, ONTARIO--(Marketwire - April 2, 2012) - (TSX VENTURE:APM) Amerix Precious Metals Corporation ("Amerix" or the "Company") is pleased to provide an update on activities at the Company's Limão Gold Property, located in the Tapajós Gold Province, Pará State, Brazil. Amerix owns a 100% interest in the Limão Gold Property, which is located along the "Tocantizinho gold trend".

Amerix recently completed a 3D induced polarization/resistivity geophysical survey ("IP survey") with SJ Geophysics Ltd. to cover three separate mineralized targets named the South Grid, Limão Pit, and a new zone, the Jambu Zone on two separate grids. The grid locations and IP survey targets are presented in the linked Figure 1 and are described below. The Company awaits the final interpretation of the IP survey to aid its diamond drill program that is planned to begin in the 2nd quarter of 2012.

To view Figure 1 image, please copy and paste URL below into new browser:

The South Grid target is characterized by a greater than 20 parts per billion ("ppb") gold in soil anomaly traceable for 350 metres along an east-west trend and corresponds to gold bearing quartz-sulphide veins hosted along a sheared contact between quartz diorite, diabase, and granite. Rock and soil sample assay results from the shear and veins were outlined in News Releases 2012 - 01 and 2012 - 03. Another target at the South Grid that was tested by the IP survey is a broad, easterly trending, gold in soil geochemical anomaly located 300 metres northeast of the shear.

The main target at the Central Grid, and target of the IP survey, is pyrite bearing syenite that was exploited at the Limão pit by small scale artisanal miners during the 1980's. As noted in earlier news releases, historic, non 43-101 compliant, diamond drill holes that drilled under the Limão pit returned promising results, such as 47 grams per tonne gold over 13 metres and 18.7 grams per tonne gold over 6.8 metres. During 2009 and 2010, Amerix collected sixteen grab samples of stockpiled pyrite bearing syenite from near the Limão pit that returned assay values between 2.37 and 106.6 grams per tonne gold (0.01 to 3.43 ounces per tonne gold) with an average of 38.13 grams per tonne gold (1.22 ounces per tonne gold). One of those above mentioned sixteen samples was collected from a piece of dumped drill core that contained pyritic fractures in syenite and analyzed 34.77 grams per tonne gold (1.12 ounces per tonne gold).

Gold in soil assay results have recently been received for a new zone, the Jambu Zone, which is located 800 metres northwest of the Limão pit and was also tested by the IP survey. Five hundred and sixty two, 1 metre soil auger samples were collected at the Jambu Zone during 2011 and 2012 within a 300 metre by 300 metre infill grid on 20 metre by 10 metre sample stations. The soil auger samples were analysed for gold by fire assay and outlined a greater than 25 ppb gold in soil anomaly with an ovoidal shape that is elongate to the northwest and measures 340 metres by 225 metres. 21% of those soil samples assayed between 0 to 15 ppb gold, 25% assayed between 15 to 25 ppb gold, 27% assayed between 25 to 50 ppb gold, 18% assayed between 50 to 100 ppb gold, and 9% assayed between 100 to 470 ppb gold. The Jambu Zone is located on a ridge and the soil assay results between 50 to 100 and 100 to 470 ppb gold form the core of the ovoidal anomaly. The Company is currently compiling hand trench, limited outcrop mapping, and deeper manual auger sampling from this zone.

Further to those activities, the Company is pleased to announce it has been granted an additional 1,268 hectares of mineral claims in the form of 'requests for exploration permits' by the Brazilian National Department of Mineral Production (DNPM). These requests, as part of the claim staking process, give the claim holder priority to receive the exploration permit that is granted by the DNPM. The 1,268 hectares are comprised of 5 'requests' that are both contiguous and non-contiguous to the Limão Gold Property. The additional claims are outlined in the linked Figure 1 and increase the total hectares of the Limão Gold Property to approximately 11,500.

Mr. Ryan Grywul, P. Geo., and Vice President, Corporate Development for Amerix, and a qualified person as defined in National Policy 43-101 is responsible for all technical information contained in this news release.

Amerix is well funded to complete its first drill campaign at Limão, and is excited by the potential of the Limão Gold Property, located in the historically gold rich Tapajós district of Brazil.

All soil samples were delivered to Acme Labs preparation facility in Itaituba, Brazil where the samples were dried, sieved, and shipped to Acme's Santiago, Chile laboratory for gold analysis by fire assay with atomic absorption finish on a 50 gram split. Rock samples were delivered to SGS Geosol's or Acme Labs' preparation facility in Itaituba. Rock samples prepared by SGS Geosol were crushed, pulverized, split to 50 grams, and shipped to SGS's assay laboratory in Vespasiano, Brazil for gold analysis by fire assay with atomic absorption finish. Rock samples prepared by Acme were crushed, pulverized, split to 30 grams, and shipped to Acme's Santiago, Chile laboratory for gold analysis by fire assay with atomic absorption finish. Both SGS and Acme reanalyzed over limit gold samples with a gravimetric finish. Both SGS and Acme are ISO certified laboratories.

About Amerix Precious Metals Corporation

Amerix Precious Metals Corporation is an Ontario company, managed by an experienced team, exploring for precious metals in Brazil. Amerix's objective is to create value for shareholders through the delineation and expansion of bedrock gold resources, and realization of value from placer and tailings gold resources at the Company's properties. Brazil has significant gold potential and is a proven mining-friendly country. Amerix will continue to seek exploration properties of merit via staking, acquisition or merger. The Company's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJGN".

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Management Discussion and Analysis.

Neither the 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.

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