Explorator Resources Inc.
TSX VENTURE : EXO

Explorator Resources Inc.

June 24, 2008 08:30 ET

Antonio Ortuzar Appointed as Chairman of the Board of Directors of Explorator

TORONTO, ONTARIO--(Marketwire - June 24, 2008) - Explorator Resources Inc. ("Explorator" or the "Company") (TSX VENTURE:EXO) is pleased to announce the appointment of Antonio Ortuzar, Jr. as Chairman of the Board of Directors of the Company. John Carlesso, the previous Chairman, will continue to serve as a member of the Board of Directors.

Mr. Ortuzar has been a member of the Board of Directors since the completion of the Company's qualifying transaction in January 2007. Mr. Ortuzar is a lawyer and international partner with Baker McKenzie, Cruzat, Ortuzar, McKenna specializing in the mining sector. He also sits on the Board of several publicly listed companies and acts on behalf of a number of major mining companies in Chile.

"The appointment of Antonio Ortuzar, Jr. to the role of Chairman is a reflection of the importance of bolstering the Company's profile within Chile as the El Espino-Venus Project advances. Antonio's relationships within Chile and the broader mining community will provide the Company with additional means to maximize the value of the Project for our shareholders" said David O'Connor, President and CEO of Explorator.

In commenting further he added, "I want to thank John for his service as Chairman and appreciate his efforts during the early stages of Explorator."

About Explorator Resources

Explorator Resources is a Canadian-based mining exploration company focused on advancing its El Espino-Venus Copper-Gold Project in Chile. The Company is currently completing a Phase III 30,000 meter drill program. The Project lies within the prolific copper-gold mineral area of the Cordillera de la Costa and is central to an important cluster of "Candelaria-style" copper-gold deposits. It is located 3.5 hours drive north of Santiago. The El Espino-Venus block covers 75 square kilometers and is host to major gold and copper mineralized structures on which nine small operating mines have been developed.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information are identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and included, without limitation, statements regarding the company's plan of business operations, production levels and costs, potential contractual arrangements and the delivery of equipment, receipt of working capital, anticipated revenues, mineral reserve and mineral resource estimates, and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral reserve and resource estimates, equipment and supply risks, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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