Amerix Precious Metals Corporation
TSX VENTURE : APM

Amerix Precious Metals Corporation

March 24, 2006 16:24 ET

Amerix Precious Metals Increases Size of Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - March 24, 2006) - Amerix Precious Metals Corporation (TSX VENTURE:APM) today announced that the brokered private placement (the "Private Placement") with Coniston Investment Corp. that was previously announced yesterday, March 23rd, has been increased from 5,000,000 units to 6,000,000 units of Amerix.

All other terms and conditions of the Private Placement remain unchanged. Each unit will consist of one common share of Amerix and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of Amerix 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 the date that is four months and one day after the closing of the Private Placement, Amerix may force the warrants to be exercised if the market price of the common shares of Amerix exceeds 125% of the exercise price of the warrants for 10 consecutive trading days. 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.

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

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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