Amerix Precious Metals Corporation
TSX VENTURE : APM
FRANKFURT : NJG

Amerix Precious Metals Corporation

December 13, 2007 08:00 ET

Amerix Reports 10.2 Grams/Ton Over 10.7 Metres at Ouro Roxo

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2007) - Amerix Precious Metals Corporation ("Amerix") (TSX VENTURE:APM)(FRANKFURT:NJG) today reported that Kluane International Drilling, Inc. ("Kluane") and Geologica e Sondagens Ltda. ("GEOSOL") have drilled 28 new holes for a total of more than 4500 metres of core at the Ouro Roxo deposit on Amerix's Vila Porto Rico Property ("VPR") in the Tapaj?s District, Brazil. This drilling program commenced in early September as reported in the Amerix's press releases of October 1 and October 24, 2007; each company has been contracted to drill 3000 metres of core. This program is expanding upon the 69 drill-hole program that was completed previously at the Ouro Roxo Deposit. In total over 11,000 metres of core has been drilled at the Ouro Roxo project by Amerix; an additional 5,000 metres of core was previously drilled by RTZ. The drilling program will be paused over the holiday break, but will begin again in January. Funding for the drilling was raised through a brokered private placement which closed on August 9, 2007 and raised gross proceeds of approximately $3,750,000. Amerix also is pleased to announce that initial assay results for eight complete holes from the Ouro Roxo North ("ORN") zone have been received from SGS Geosol Laboratorios Ltda located in Belo Horizonte, Brazil. Gold values in hole AORN64 ranged as high as 10.2 grams/ton ("g/t") over 10.7 metres (including two zones within this interval of 17.2 g/t over 3.05 metres and 14.1 g/t over 4 metres). Visible gold is present in some of these analyzed cores as well as other ORN cores that await assay. Significantly, the drilling, assaying, and visual description of the cores from ORN also show that gold mineralization extends at least 600 metres farther north than known before this new drilling program and is open-ended to the north.

The drilling program is designed to explore the northward extension of ORN towards the Pac· River and the sparsely drilled intermediate zone between ORN and Ouro Roxo South. The 69 drill holes drilled to date have demonstrated the continuity of a gold-mineralized zone for more than three kilometres from the ORN zone to the Ouro Roxo South zone through a relatively unexplored middle zone. It is anticipated that as drilling continues the main Ouro Roxo mineralized zone will extend another two kilometres to the north for a total length of at least 5.5 kilometres.

Management's Discussion and Analysis: The following table shows mineralized zones in five of eight analyzed cores from ORN that contain zones with 1.0 g/t gold or greater. A single sample in hole AORN62 yielded 26.3 g/t gold over 1.0 meter. In hole AORN64, from 135.0 to 145.7 metres, the average grade is 10.2 g/t over this 10.7 -m wide interval; however, within this interval there are two zones of 17.2 g/t over 3.05 metres and 14.1 g/t over four metres separated by a two metres wide zone of lower grade. As a group these results are highly encouraging for Amerix's exploration effort. Throughout these five cores are numerous less than 1 g/t zones of thicknesses ranging from 1 to 12 metres. In hole AORN56, a core with many narrow high-grade zones had a total depth of only 127.8 metres due to loss of circulation when the drill encountered a garimpeiro tunnel that had been drifted along a very high-grade zone that obviously was unsampled by Amerix's core.

Three holes, AORN52, 53, and 54 produced low gold analyses. The location of these holes with respect to a mapped surface structure places them west of a right-lateral-sense fault zone. Subsequent analysis indicates that these holes were drilled in the footwall of the gold-mineralized zone. The following table summarizes the results of five of the eight analyzed cores.



Drill Hole Interval Width Au Assay Interval
# (m) (m) (ppm) And Grade
-------------------------------------------------------
AORN55 18.0-19.0 1.0 0.5 1.0m@0.5g/t
-------------------------------------------------------

-------------------------------------------------------
AORN55 36.0-37.0 1.0 2.0 1m@2.0g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 42.8-44.0 1.2 1.0 1.2m@1.0g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 49.0-50.0 1.0 1.0 1.0m@1.0g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 60.0-61.0 1.0 1.6 1.0m@1.6g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 76.0-77.0 1.0 2.2 1.0m@2.2g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 89.2-90.2 1.0 8.5 1.0m@8.5g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 96.2-97.1 0.9 9.9 0.9m@9.9g/t
-------------------------------------------------------

-------------------------------------------------------
AORN56 115.5-116.5 1.0 4.3
-------------------------------------------------------
" 116.5-117.5 1.0 0.33
-------------------------------------------------------
Total 115.5-117.5 2.0m@2.3g/t
-------------------------------------------------------
AORN58 149.3-151.2 1.9 1.1 1.9m@1.1g/t
-------------------------------------------------------

-------------------------------------------------------
AORN62 75.9-76.9 1.0 22.9
-------------------------------------------------------
" 76.9-77.9 1.0 26.3
-------------------------------------------------------
" 77.9-78.9 1.0 3.5
-------------------------------------------------------
" 78.9-79.9 1.0 3.9
-------------------------------------------------------
Total 75.9-79.9 4m@14.15g/t
-------------------------------------------------------

-------------------------------------------------------
AORN62 104.0-105.0 1.0 1.35 1.0m@1.3g/t
-------------------------------------------------------

-------------------------------------------------------
AORN62 127.6-128.6 1.0 0.29
-------------------------------------------------------
" 128.6-129.6 1.0 16.0
-------------------------------------------------------
" 129.6-130.6 1.0 2.4
-------------------------------------------------------
Total 127.6-130.6 3.0m@6.2g/t
-------------------------------------------------------

-------------------------------------------------------
AORN62 150.5-151.5 1.0 2.2 1.0m@2.2g/t
-------------------------------------------------------

-------------------------------------------------------
AORN62 171.6-172.7 1.1 1.4 1.1m@1.4g/t
-------------------------------------------------------
" 172.7-173.8 1.1 0.04
-------------------------------------------------------
" 173.8-174.9 1.1 0.07
-------------------------------------------------------
" 174.9-176.0 1.1 0.27
-------------------------------------------------------
" 176.0-177.2 1.2 15.3 1.2m@15.3g/t
-------------------------------------------------------
" 177.2-178.3 1.1 0.15
-------------------------------------------------------
Total 171.6-178.3 6.7m@3.6g/t
-------------------------------------------------------

-------------------------------------------------------
AORN64 129.0-130.0 1.0 2.4 1m@2.4g/t
-------------------------------------------------------

-------------------------------------------------------
AORN64 135.0-135.6 0.6 0.46
-------------------------------------------------------
" 135.6-136.7 1.1 5.0
-------------------------------------------------------
" 136.7-137.7 1.0 14.4
-------------------------------------------------------
" 137.7-138.7 1.0 32.8
-------------------------------------------------------
" 138.7-139.7 1.0 0.14
-------------------------------------------------------
" 139.7-140.7 1.0 0.09
-------------------------------------------------------
" 140.7-141.7 1.0 3.4
-------------------------------------------------------
" 141.7-142.7 1.0 8.4
-------------------------------------------------------
" 142.7-143.7 1.0 24.8
-------------------------------------------------------
" 143.7-144.7 1.0 19.7
-------------------------------------------------------
" 144.7-145.7 1.0 0.41
-------------------------------------------------------
Total 135.0-145.7 10.7m@10.2g/t
-------------------------------------------------------

-------------------------------------------------------


QA/QC: The drilling operations are being conducted by GEOSOL and Kluane under the direct guidance and supervision of Amerix geologists and management. Both companies are well-established and have worked with Amerix in the past. Cores are being drilled at 50 degrees to 70 degrees angles at HQ or NQ diameter for up to 100 metres in depth after which diameter NQ or BQ is used to depths that generally will be in the range 150 to 250 metres. Local geologic mapping and regional reconnaissance geologic mapping are being conducted in concert with the drilling program. All cores are split and described at the Amerix camps near the drill sites. Assays are being conducted at SGS Geosol Laboratorios Ltda. These assays are multi-element analyses that include both gold and silver determinations among the suite of 38 analyzed elements.

About the Vila Porto Rico (VPR) Property: The VPR Property is located in the Tapajos District, one of the largest gold-producing provinces in Brazil. Amerix owns 100% of the mining rights within the 670 km2 comprising the VPR property. Gold-rich zones are found within the one to two kilometres wide, N-S trending Ouro Roxo fault zone. This fault zone has been traced along a strike length of more than 25 kilometres. The Ouro Roxo mineralized zone occurs in the southern part of this major shear zone. Gold is present in a variety of structures throughout the property, but the best gold values at Ouro Roxo have been found within faults, shears, and brecciated zones that dip moderately to the east at 40degrees to 50degrees. The mineralized structures contain variable amounts of sulfides, and quartz-chalcopyrite-pyrite-gold veins, below a saprolite zone that extends to a depth of 50 metres or more. The Ouro Roxo Project includes exploring a 5.5 -kilometre-long segment of this structural zone. A total of 69 angle core holes have been drilled at Ouro Roxo; the results of assays for these holes have been previously reported.

About Amerix Precious Metals Corporation: Amerix Precious Metals Corporation is an Ontario company exploring for precious metals in Brazil. VPR is the Corporation's main project, covering over 67,000 hectares. VPR has proven gold potential, as it contains historic and active gold mines that anecdotal evidence suggests have produced more than two million ounces from placer and weathered bedrock (saprolite) mining operations. Amerix's objective is to create value for shareholders through expansion of bedrock gold resources, and development of placer and tailings gold resources. Brazil has enormous gold potential and is a proven mining-friendly country. Amerix staff has more than 50 years of combined experience in Brazil, and the Corporation has been active for more than 10 years. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM" and on the Frankfurt Stock Exchange under the symbol "NJG."

The technical and scientific information in this release has been reviewed by Lawrence W. 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.

If you would like to receive press releases via email, please contact valerie@chfir.com and specify "Amerix press releases" in the subject line.

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

Contact Information

  • Amerix Precious Metals Corporation
    Jeffrey Reeder
    President and CEO
    (647) 302-3290
    or
    CHF Investor Relations
    Jeanny So
    Director of Operations
    (416) 868-1079, Ext. 225
    Email: jeanny@chfir.com
    or
    Studer Consulting
    Marlies E. Studer
    +41 44 215 28 03
    Email:consulting@studer-ir.ch