Amerix Precious Metals Corporation

Amerix Precious Metals Corporation

May 22, 2012 08:00 ET

Amerix Precious Metals Corp.: Drilling Starts and Geochemical Survey Results Indicate Additional Target at Subbao Grid, Limao Gold Property, Brazil

TORONTO, ONTARIO--(Marketwire - May 22, 2012) - Amerix Precious Metals Corp. (TSX VENTURE:APM)(FRANKFURT:NJGN) ('Amerix' or 'the Company') is pleased to announce that drilling has begun at the Limão Gold Property located in the Tapajós Gold Province, Pará State, Brazil. In addition, the Company provides an exploration update from its program of gridded soil sampling and rock sampling. During 2011 and 2012, two separate soil sample grids, called the Subbão Grid and the Reconnaissance Grid, were established over a small scale artisanal mine and over regional magnetic geophysical and topographic lineaments respectively. These grids are separate from the Limão Pit, South Grid, and Jambu Zone described in News Release 2012 - 4, dated April 2, 2012. The locations of these now released grids are outlined in the linked Figure 1.

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The Subbão soil grid covers an area of 116 hectares and was established over small scale artisanal mine workings, called the Subbão Zone, where saprolite and rock samples had returned anomalous gold assay results mainly from grabs, selective grabs, and stockpiled crusher waste that ranged from <0.005 grams per tonne gold to 361.5 grams per tonne gold. Higher grade samples resulted from hand selective grabs of fine quartz vein material where visible gold was occasionally noted. Gold values are expected to have been enhanced by oxidation of sulphide bearing, fine quartz veins. Limited exposure of saprolite outcrop and evidence gathered from saprolite in shaft dump piles show fine, less than 5 centimetre thick, quartz vein or veins hosted in and along granite, a fine grained volcanic, and a fine mylonite with some sericite and fracture chlorite in wall rocks. The contact between granite and the fine grained volcanic is speculated to be a structural focus for quartz veining and shearing. The soil assay results are presented in the linked Figure 2. Rock and saprolite sample assay results are presented in the linked Figure 3.

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In total, 775 one-metre manual soil auger samples were collected at twenty metre stations along 16, one hundred-metre spaced wing lines and 1 baseline at the Subbão Grid. This grid was also established to explore west-northwest trending regional structures identified from satellite images and an airborne magnetic survey, as well as, possible secondary structures. In the vicinity of the artisanal workings, soil assay results show a localized gold anomaly that requires follow up with detail, infill geochemical sampling and mapping to define the limits of the mineralization encountered at the Subbão Zone. Sparse localized colluvial and saprolite gold in soil anomalies were also encountered elsewhere in the Subbão soil grid, occasionally near abandoned, small scale alluvial/placer operations.

At the Reconnaissance Grid, 515 one-metre manual soil augers were collected at twenty metre sample stations along 4, five hundred-metre spaced lines totalling 9.08 line kilometres. The Reconnaissance Grid was designed to access and test northwest and northeast lineaments identified from the airborne magnetic survey and satellite imagery, as well as, magnetic and radiometric anomalies including highs and lows. The gold in soil assay results were generally negligible over the reconnaissance line spacing but have resulted in a few soil anomalies located near the magnetic lineaments or near the intersection of magnetic lineaments. Amerix will reserve these areas for follow up prospecting and soil sampling. The results of the gold in soil assays for the Reconnaissance Grid are presented in Figure 4.

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All soil samples were delivered to Acme Labs preparation facility in Itaituba, Brazil where the samples were dried, sieved, split, and shipped to Acme's Santiago, Chile laboratory for gold analysis by fire assay with atomic absorption finish on a 30 or 50 gram split. Rock and saprolite samples were delivered to Acme Laboratories preparation facility in Itaituba, where the samples were crushed, pulverized, split, and shipped to Acme's Santiago laboratory, where they were analysed for fire-assay gold on a 30 gram split. Acme Laboratories is registered under International Standards Organization ISO 9001:2008 quality control program. The Company utilizes a QA/QC chain of custody program overseen by its geologists concerning its samples.

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.

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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