Au Martinique Silver Inc.

Au Martinique Silver Inc.

March 21, 2006 10:04 ET

Au Martinique Silver Inc. Enlarges the Potonico Mineralized Area and Identifies Significant Gold Values in Surface Veins

BRAMPTON, ONTARIO--(CCNMatthews - March 21, 2006) - Paul Pitman, President of Au Martinique Silver Inc. (TSX VENTURE:AUU) is pleased to announce the completion of a reconnaissance rock sampling program within the limits of its newly acquired (see News Release #05-06) Ojo Blanco Exploration License located in north-central El Salvador. Both the Ojo Blanco and the Cerro Petancol licenses are being explored within the framework of an option agreement between Au Martinique Silver and Intrepid Minerals Corporation. Au Martinique Silver Inc. will earn a 50% interest in all licenses.

This reconnaissance mapping program followed from the results of a stream sediment survey whereby an area of approximately 15 km2 was identified as containing anomalous gold values of up to 3 g/t (see News Release #02-06). To protect and expand this large mineralized area two additional exploration licenses, Santa Catarina and Arcatao, (measuring 29.75 and 21.00 km2, respectively) were acquired. Presently, the Au Martinique Silver/Intrepid Minerals Joint Venture holds exploration rights to 149.45 km2 in this highly prospective area. A summary of the current exploration licenses is presented in Table 1 and the locations of the four licenses are presented in Figure 1.

Figure 1. ( Map of El Salvador showing the location of Au Martinique Silver Inc. and Intrepid Minerals Corp. exploration licenses (Cerro Petancol, Ojo Blanco, Arcatao and Santa Catarina).

Table 1. Exploration licenses and areas held by the
Au Martinique Silver/Intrepid Minerals Joint Venture.

License Name Area
Cerro Petancol 49.5
Ojo Blanco 49.2
Santa Catarina 29.75
Arcatao 21.0
Totals 149.45

Follow-up reconnaissance-style mapping has identified a broad area of quartz veining hosted by a mid-Tertiary aged andesite volcanic formation. The area of veining, shown in Figure 2, is at least 12 km2 in size with individual veins traceable for up to 2 km. Within the area, there are numerous shallow surface workings that were supposedly mined for calcite used for agricultural purposes.

Figure 2. ( Preliminary geologic map of the Ojo Blanco prospect showing gold-bearing quartz-chalcedony-calcite veins, quartz-pyrite-illite alteration and propylitized andesite.

Vein orientations are northeast to northwest and form an intricate intersecting pattern. The veins range in width from less than 1 meter up to about 10 meters. Gold values are highly variable, from trace amounts up to 52.2 g/t Au. The highest values occur in the central part of the prospect where surface erosion appears to be deeper. Table 2 summarizes the range of values found from more than 400 grab samples.

Veins associated with higher gold values, (greater than 1 g/t Au), generally consist of fine grained or chalcedonic quartz with weak to moderate banding. Locally, strongly banded chalcedony is associated with calcite or quartz casts after calcite (lattice texture). Many of the veins display a breccia texture with andesite or older vein fragments. All textures are representative of gold veins found in a typical epithermal gold system.

Table 2. Summary of Reconnaissance Vein Sampling Program
(410 samples), Ojo Blanco Exploration License.

Interval (g/t Au) # of Samples % of Samples
Greater than 10 11 2.7
5.0 to 10.0 15 3.7
1.0 to 4.99 85 20.7
0.5 to 0.99 41 10.0
0.1 to 0.49 101 24.6
Less than 0.1 160 38.3

Work to date, including alteration and metal zoning appraisal in the field, suggests that the mineralized area can be expanded further. The recently granted Santa Catarina license is located southeast of Ojo Blanco and just north of Pacific Rim Mining Corp.'s (AMEX: PMU) recent discovery at Santa Rita (see PMU press release dated Sept. 12, 2005).

The Au Martinique/Intrepid Joint Venture is currently in the process of obtaining an environmental permit required for all trenching and drilling activities from the Salvadoran Government. In addition, the companies are currently in negotiations with community representatives and religious leaders to define a relationship that will assure environmental compliance and community participation during all exploration activities.

President of AUU, Mr. Paul Pitman states that "we believe this extensive area of alteration, widespread occurrence of the gold-bearing veins, favorable vein textures and geochemistry present Au Martinique Silver and its partner with a fabulous opportunity to discover a new and exciting mineralized district. We look forward to advancing our activities hand-in-hand with the local communities to assure a partnership in economic development and good environmental stewardship".

All samples were assayed at CAS Laboratories of Honduras utilizing standard AA/fire assay finish and gravimetric check assays on samples reporting greater than 1.0g/t gold.

Au Martinique Silver Inc. is a TSX Venture listed company engaged in the acquisition, exploration and development of mineral prospects. The Company has 18,912,550 common shares outstanding.

The statements in this Press Release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has neither approved nor disapproved the information contained in this press release.

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