Amerix Precious Metals Corporation
TSX VENTURE : APM

Amerix Precious Metals Corporation

March 23, 2006 08:30 ET

Amerix Precious Metals Announces Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - March 23, 2006) - Amerix Precious Metals Corporation (TSX VENTURE:APM) announced today that it has negotiated a brokered private placement with Coniston Investment Corp. ("Coniston") of up to 5,000,000 units of the Corporation at a price of $0.50 per Unit for aggregate gross proceeds of up to Cdn$2,500,000. Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the Corporation at a price of $0.70 at any time prior to the date that is twelve months from the date of the closing of the Private Placement. After four months, the Company may force the warrants to be exercised if the market price of the common shares exceeds 125% of the exercise price of the warrants for 10 consecutive trading days.

The Corporation intends to use the proceeds of the Private Placement for exploration work on its Brazilian properties and for general working capital purposes.

The Private Placement is expected to close on or about March 31, 2006 and is subject to normal closing conditions including the receipt of all necessary regulatory approvals.

About Amerix Precious Metals Corporation

Amerix Precious Metals Corporation is an Ontario corporation that explores for precious metals in Brazil. Vila Porto Rico and Limao are gold projects in the Tapajos Gold Province in Brazil. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM". There are approximately 39.9 million shares outstanding and 43.4 million fully diluted.

Additional information regarding the Corporation, including the audited consolidated financial statements of the Corporation for the financial year ended July 31, 2005 and related management's discussion and analysis of results, can be found on SEDAR at www.sedar.com.

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

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