VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2012) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce assay results from core hole B‐1207C drilled in late August. The hole intersected two zones of gold mineralization: an upper zone of 52 feet at 188‐240 feet grading 0.060 opt (15.85 meters of 2.07 gpt) Au, and a lower zone of 120 feet at 564‐684 feet grading 0.066 opt (36.58 meters of 2.27 gpt) Au. The upper interval included a 4‐ft. intercept grading 0.537 opt (18.4 gpt) Au and the lower zone included a 4‐ft. interval grading 0.983 opt (33.7 gpt) Au.
Interpretation of these intercepts along with previous drill results on the same section suggests these two layers are relatively flat‐lying, being 30‐50 feet and 100‐150 feet true thickness respectively, and they may merge and come together on the section to the south that contains the intercept in discovery drill hole B‐1201 announced July 18, 2012. The new section showing the intercept in core hole B‐1207C and the interpreted gold zones has been posted to the Company's website at www.canamex.us. A reverse circulation drill rig is currently on site and drilling a hole 100 feet below the intercept in hole B‐ 1201 at ‐60 degrees to test continuity of that intercept with depth. A second hole will be drilled on that section at ‐75 degrees inclination to further test continuity of the higher grade intercept, and then ‐60 and ‐75 degree inclination holes will be drilled beneath hole B‐1207C to test continuity of the intercepts reported herein.
Additional drilling will test the continuity of this mineralization both to the north and the south. A total of sixteen holes are planned for this phase of drilling of the new discovery at Penelas East on the Bruner Property and are expected to be completed by the end of November. Results will be reported after they have been received and properly analyzed.
Core samples were retrieved from the Company's locked storage facility and transported to ALS Minerals laboratory in Reno/Sparks, Nevada by ALS Minerals staff, photographed, sawed, and sampled by ALS Minerals personnel, where they were dried, crushed, and split, and representative splits sent to the ALS Minerals laboratory in Vancouver for gold fire assay and silver AA analyses. Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43‐101 reporting standards.
ON BEHALF OF THE BOARD
Gregory A. Hahn, President & COO
This note contains forward‐looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward‐looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward‐looking statements. Readers are cautioned that these forward‐looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward‐looking statements. Canamex undertakes no obligation to revise or update any forward‐ looking statements for any reason.
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.