EXMIN Resources Inc.

EXMIN Resources Inc.

October 20, 2005 21:19 ET

CORRECTION FROM SOURCE: EXMIN Restarts Phase II Drill Program at Reyna de Oro; Targets High-Grade Bulk Tonnage

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - The following corrects and replaces the release sent on October 19, 2005 at 9:00 AM ET. There are several changes and additions made to the release issued on October 19, 2005. The release below is the correct version.

EXMIN Resources Inc. (TSX VENTURE:EXM) is, at the request of the TSX Venture Exchange, pleased to provide additional information regarding the Company's news release dated October 19, 2005.

EXMIN Resources Inc. is pleased to announce that it has negotiated a definitive diamond drilling contract with B.D.W. International Drilling of Mexico, S.A. de C.V. and will restart the Phase II drill program at the Reyna de Oro project on November 1, 2005. EXMIN plans to complete the Phase II program before year-end, which includes roughly 3,000 metres of diamond drilling. In late July, EXMIN completed the reverse circulation portion, (1,517.9 metres) of the overall total 5,000-metre Phase II program. See press release of August 30, 2005.

Drilling to date has focused on the immediate Reyna de Oro mine area in order to expand the area of known mineralization and to complete a NI 43-101 compliant resource estimate at the end of Phase II. EXMIN has received permits for road construction and has completed 500 metres of new roads to the north and east of the mine. The roads will provide access to drill test the eastern extension of mineralization in the same stratigraphic horizon that hosts the Reyna de Oro deposit. Mapping and sampling have extended the mineralized horizon for over a kilometre along strike, as indicated in the press release of August 30, 2005.

EXMIN has also continued its regional exploration of the 30,000 acre, 100% owned Luz de Oro concession that surrounds the Reyna de Oro property. Early results from this work have identified numerous mineralized occurrences and several old base- and precious-metal mines and prospects in the immediate vicinity of the Reyna de Oro mine. The table below shows the assay results for some of these surface rock chip samples. The presence of high grade polymetallic mineralization as well as indications of widespread lower grade mineralization is typical of that in a large intrusion related mineralized system similar to those being explored by our neighbors, Tyler Resources and Dia Bras.

The "vein samples" and the "silicified rock" samples listed below were rock chip samples between 0.5 and 1.0 metre wide and varied in size from one to two kilograms. The assay methods used were gold fire assay with atomic absorption finish of a 30 gram sample and a multi-element package analysis (ICP 41).


All surface sample analyses were conducted by ALS Chemex at their lab in Vancouver. EXMIN has instituted a quality control program whereby standard pulps and RC blanks are inserted into the sample stream and duplicate and second-lab check samples are completed. Dr. Craig Gibson, PhD., Executive Vice President of Exploration, is the authorized professional geologist for the Company and the direct manager of all technical programs and information.

Table of assay results, Luz de Oro reconnaissance samples

g/t g/t % % %
Vein samples
CG-22 3.15 179 0.36 - 3.24
CG-30 0.21 165 0.31 5.29 2.68
CG-33 0.06 114 0.12 6.33 0.69
CG-74 0.05 6 1.51 - -
CG-75 1.98 182 0.30 0.11 5.01
CG-76 0.43 279 1.22 1.82 4.75
CG-77 1.11 401 1.85 2.79 7.39
CG-78 0.03 58 0.37 4.01 12.55
CG-80 1.53 3 1.39 0.26 -
GENO-4 0.42 4.7 1.44 - -
GENO-5 6.25 16.3 3.97 - -
GENO-8 1.66 20.5 5.80 - -
GENO-9 0.94 23.4 - 5.55 0.27
GENO-10 0.96 15.9 - 2.13 0.27
GENO-11 14.15 1.9 0.47 - -

Slicified rock (limestone and andesite)
CG-23 0.02 5 0.29 0.84 0.18
CG-24 0.14 3 0.44 0.14 0.18
CG-25 0.26 4 0.29 0.22 -
CG-71 0.06 9 0.63 - -
CG-72 0.01 1 0.31 - -
CG-73 0.09 6 0.16 - -


EXMIN Resources Inc. is currently focused on the exploration and development of precious metal properties of merit in the Sierra Madre gold belt of Northwestern Mexico.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, 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. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    EXMIN Resources Inc.
    Laney Stolle
    Investor Relations