October 17, 2007 14:17 ET

eResearch Maintains Target Price in Update Report on EXMIN Resources Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - eResearch analysts, Stephen Mussart, B.A. (Economics), MBA and Bob Weir, B.Sc., B.Comm., CFA, have written an Update Report on EXMIN Resources Inc. (TSX VENTURE:EXM). EXMIN Resources is a Canadian junior mining company engaged in the exploration for gold and silver in the Sierra Madre Occidental region of Mexico.

In the Report, the Analysts state that EXMIN has, "Excellent partners and a mine just brought into production. Why hasn't the stock market reflected this?" The Target Price of $0.90 per share is maintained, as originally determined in the Initiating Report of December 15, 2006.

Highlights of the Update Report are:

- Promising portfolio of district scale projects in Mexico's Sierra Madre region.

- NI 43-101 report on the Santa Maria de Moris mine (the "Moris mine") was released in March 2007 and provides for a measured and indicated resource of 4,080,620 tonnes at 1.328 g/t gold and 4.929 g/t silver.

- Moris mine, with 3,000 ton per day capacity, started production in the summer of 2007.

- Strategic Alliance with Hochschild Mining plc of Lima, Peru will ensure that EXMIN has access to capital and will be able to fund its portion of the Moris mine.

- Bullish outlook for gold over remainder of 2007 and 2008.

This Press Release was prepared by eResearch and was not vetted by EXMIN Resources Inc. Further, the Recommendation and Target Price contained in this report are strictly those of eResearch and, due to securities laws, are not endorsed by EXMIN Resources Inc.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

EXMIN Resources Inc. paid eResearch a fee of C$17,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

Contact Information

  • eResearch
    Bob Weir, CFA - Director of Research
    (416) 643-7643
    Email:, Website:
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    the report)