Canamex Resources Corp.

Canamex Resources Corp.

August 04, 2011 09:00 ET

Canamex Commences Exploration Activities on Aranka North Property, Guyana

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2011) - Canamex Resources Corp. (TSX VENTURE:CSQ)(FRANKFURT:CX6) is pleased to announce that it has commenced exploration activities on the Aranka North property in Guyana, acquired under an option agreement with GMV Minerals Inc. (GMV) (see News Release dated July 6, 2011), which agreement was accepted for filing by the TSX Venture Exchange on August 2, 2011. In accordance with the terms of the agreement, on August 3, 2011, the Company issued 1,500,000 common shares to GMV, as well as 348,586 common shares as a finder's fee in connection with the property acquisition, which shares are subject to a hold period expiring on December 4, 2011.

Mr. Brian Doubt has been hired as Operations Manager for the Company's wholly-owned subsidiary in Guyana, Canamex (Guyana) Inc. Mr. Doubt was most recently Logistics Manager for Guyana Goldfields in Guyana, with previous employment experience as Field or Logistics Manager for Shoreham Resources (now Guyana Frontier Resources), Hunter Dickenson, Newmont, and many others over the course of his career. Mr. Doubt is a dual Canadian-Guyanese citizen and resides with his family in a suburb of Georgetown, Guyana.

The Company has advised GMV that it intends to acquire the airborne geophysical data that was acquired by GMV over the Aranka North property, and those data are being transferred to Canamex's geophysical consultant for interpretation and presentation. Several aeromagnetic anomalies that are visible on the regional aeromagnetic data are expected to have finer definition and resolution on the more detailed survey recently flown, and we are awaiting completion of processing and delivery of the radiometric data.

Canamex has commenced acquisition of field vehicles and equipment for its initial reconnaissance into the Aranka North property this month. Once access is established, stream sediment sampling and mapping of alluvial gold occurrences will occur to identify the source of the alluvial gold. Once the source regions are indicated, geologic mapping and soil sampling will follow. Interpretation of airborne geophysical data will be followed by line cutting and detailed ground surveying over the anomalous areas to establish control on the anomalies and proximity and relation the source drainages of the alluvial gold occurrences.

"This is an exciting time for Canamex, as it launches its exploration activities in one of the largest emerging gold districts in the world. The Aranka North property is at the northeastern end of a trend of gold deposits containing, among others, the Toroparu deposit of Sandspring Resources and the Aurora and Sulfur Rose deposits of Guyana Goldfields, which combined contain an estimated 14 million ounces of gold," says President & CEO Greg Hahn.

The Company continues to negotiate several other acquisitions at key locations in the Guyana goldfields.


"Greg Hahn"

Greg Hahn, President and CEO

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release 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. Canamex expressly disclaims any intention or obligation to update or revise any forward- looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

Contact Information