EXMIN Resources Inc.

EXMIN Resources Inc.

April 21, 2008 09:45 ET

EXMIN/AmMex Commence Drilling at Cerro Gordo Project, Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to report that the EXMIN/AmMex joint venture has commenced drilling on the magnetic anomaly identified during the ground geophysical program at the Cerro Gordo project, on the 7,767 hectare Concha concession in the Melchor Ocampo district (see EXMIN news releases of April 3 and 9, 2008). The project land package was acquired for the joint venture through staking by EXMIN and is situated in the Concepcion del Oro region of Zacatecas State. This region has a geologic environment similar to the world class Penasquito deposit of Goldcorp, which is located approximately 25 kilometres to the southeast of the Cerro Gordo project.

From the Cerro Gordo project site, via satellite phone, Dr. Craig Gibson, Co-Founding Executive Vice President of Exploration for EXMIN, stated, "We are conducting another drill program on an outstanding target in a historically productive district. We are currently drilling the first holes at the Cerro Gordo target, on an identified magnetic anomaly, a feature characteristic of the intrusions that are generally associated with mineralization in this region. Also, we have several other targets that have not yet been thoroughly explored."

The Drill Program

Layne de Mexico is contracted to conduct the 2,000 metre total, reverse circulation drill program which is planned to test a maximum depth of approximately 250 metres. This first pass drill program at the Cerro Gordo project is being funded by AmMex and is managed by EXMIN, the project operator, in concert with AmMex's technical team.

The Survey

The ground magnetic survey consisted of 38.5 line kilometres over a 3.5 km by 8 km area where a regional magnetic anomaly had previously been identified during an airborne survey carried out by the Mexican geological survey (Servicio Geologico Mexicano). The magnetic anomaly is interpreted to overlie the northern limb of a buried anticline along strike and down dip from small mineral prospects with weak fracture and stratigraphically controlled replacement and breccia bodies, and may represent the presence of an intrusion into the favorable host rocks at the core of the anticline. The region was previously explored by an international mining company, and stream sediment and soil samples taken by them show anomalous precious and base metal values.

The Target

Mineralization in the Concepcion del Oro region is characterized by carbonate replacement deposits related to intermediate intrusions and includes several mines and historical producers at Concepcion del Oro, Terminal de Providencia, Salaverna, Santa Rosa, Noche Buena, Melchor Ocampo, and Penasquito. Several companies have explored in the Melchor Ocampo district over the last 15 years, but most left during the period of low metals prices at the end of the 1990's.

The Concha concession staked by EXMIN covers a 7 km by 2 km airborne magnetic anomaly in a valley near outcropping mineralization with several small mines and prospects that were exploited in the past. The majority of the mines in the region appear to be located in areas near similar magnetic anomalies. The geologic environment is known to be similar to that of the Melchor Ocampo and Concepcion del Oro districts, as well as the nearby Penasquito deposit, and provides an excellent and easily accessible exploration target.

Quality Assurance

Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration is the authorized professional geologist for the Company and the direct manager of all technical programs and information.

About AmMex

AmMex Gold Mining Corp. is a growth-oriented exploration company listed on the over the counter bulletin board (OTCBB:AMXG). AmMex is currently focused on exploration for precious metal targets in the U.S. and Mexico.


EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico as well as in other highly mineralized areas of 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
    Co-Founding President & CEO
    1-866-493-9646 or 1-866-49-EXMIN
    Email: info@exmin.com
    Website: www.exmin.com