AmMex Gold Mining Corporation
FRANKFURT : R5E
OTC Bulletin Board : AMXG

AmMex Gold Mining Corporation

August 30, 2007 04:00 ET

AmMex Gold Mining Corp. to Assay Historic Drill Samples From Their Castle Copper/Molybeum Project for Precious Metals

OTTAWA, ONTARIO--(Marketwire - Aug. 30, 2007) - AmMex Gold Mining Corp. (OTCBB:AMXG)(FWB:R5E)(WKN:A0KE72) is pleased to announce that they have located preserved samples of historic drill core from the Castle Copper/Molybdenum project. The drill core is located at the Arizona Geological Survey in Tucson, where AmMex has obtained permission to submit samples for precious metals assaying. Samples will be obtained from some of the following drill holes, listing historic copper and molybdenum values that were reported in the enriched copper sulphide blanket within a large primary copper-molybdenum system;

UC-1 reported 65 feet of 1.57% copper and 0.057% molybdenum

SM-39 reported 50 feet of 1.18% copper and 0.063% molybdenum

SM-32 reported 130 feet of 0.72% copper and 0.062% molybdenum

SM-20 reported 150 feet of 1.49% copper and 0.063% molybdenum

The enriched copper blanket was historically estimated at 40 to 50 million tons within a larger scale inferred resource, estimated at 700 million tons grading 0.26% copper and 0.056% molybdenum or 400 million tons grading 0.334% copper and 0.068% molybdenum.

Most copper mines in Arizona produce precious metals (gold, silver, platinum group) as a by-product. For example, Asarco's Mission mine produced 540,043 ounces of silver in 2003 and their Ray mine produced 179,146 ounces of silver in 2006.

Bill Reed, Exploration Manager, said, "When most of the drilling was done at the Castle property in the 1960s, the drill core was never assayed for precious metals because prices were too low. The Watts Griffis report of 1992 indicates there is precious metals in the copper/molybdenum system but no values were reported. Assaying the old drill core will give us a good indication of the precious metals potential of the mineralized system at the Castle Copper. These precious metals produced as a by-product could add considerably to the potential economics of the project."

AmMex will submit the samples to ALS Chemex lab in Vancouver and expects to report results in 4 to 6 weeks.

About AmMex Gold

AmMex Gold Mining Corp. is a precious metals exploration and development company. It is management's objective for AmMex Gold to become a gold and precious metals producer by developing projects in Mexico and Nevada, and by acquiring other advanced-stage projects and/or producing mines in proven precious metal districts throughout the world. The Company trades on the OTC market under the symbol "AMXG" and on the Frankfurt Exchange under the symbol "R5E". For more information, please visit the Company's website at www.ammexgoldmining.com (Available in English, German, Mandarin, Spanish and French).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • AmMex Gold Mining Corp.
    Bill Reed
    VP of Exploration
    520-907-9986 or Toll-free: 1-866-481-2233