Amerix Precious Metals Corporation

Amerix Precious Metals Corporation

June 07, 2012 15:25 ET

Amerix Updates Gold in Soil Anomalies at the Limao Gold Property, Para State, Brazil-Drilling Underway

TORONTO, ONTARIO--(Marketwire - June 7, 2012) - Amerix Precious Metals Corp. (TSX VENTURE:APM)(FRANKFURT:NJGN) ('Amerix' or 'the Company') is pleased to update gold in soil assay results from the Central Grid at the Company's Limão Gold Property that is located along the Tocantinzinho Gold Trend, in the Tapajós Gold Province, Pará State, Brazil. Amerix owns a 100% interest in the Limão Gold Property and has recently optioned the exploration concessions adjoining to the northwest. (See News Release 2012-06 of May 14, 2012).

During late 2011, the Company established a 10 metre by 10 metre spaced and a 20 metre by 10 metre spaced, infill soil grid, as a continuation of its earlier, 100 metre by 20 metre spaced soil grid. These grids cover the Limão Pit area that is the main gold target at the Central Grid. As described in News Release 2012-04 dated 02/04/2012, the Limão Pit target is characterized by pyrite bearing syenite that was exploited by small-scale artisanal miners and diamond drilled during the 1980's using conventional drilling methods. Amerix's sampling of stockpiled pyrite bearing syenite from near the Limão Pit also returned positive gold in rock assay values.

The interpreted strike of mineralization acquired from the historic drilling, combined with mapping by the Company's geologists, guided the orientation of the infill soil grid and a total of one thousand four hundred and sixty eight, 1-metre manual soil auger samples were collected along a northwest trend. The infill grid is bisected by two creeks that were subject to alluvial placer mining. The linked Figure 1 shows the soil sample locations overlain on satellite imagery.

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The 1-metre soil auger samples were collected from a regolith consisting of colluvium, laterite, saprolite, alluvium, and tailings that included placer mining reject and tailings from the Limão Pit. Excluding alluvium and tailings material, soil assay results from colluvial to saprolitic material have defined a 600 metre northwest trending gold in soil anomaly defined by subtle, sporadic clusters of soil anomalies ranging from 25 to 1,217 parts per billion gold and represent the majority of the soil samples collected. Apart from the colluvium, laterite, and saprolite, alluvial and tailings samples returned results ranging from 11 to 6,660 parts per billion gold with one outlier of 12,900 parts per billion gold.

Amerix is presently drilling at the Limão Property, targeting the gold in soil anomalies and historic gold targets from artisanal mine workings located on several grids. Drill assay results can be expected within the next few weeks and months.

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. 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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