EXMIN Resources Inc.
TSX VENTURE : EXM

EXMIN Resources Inc.

October 23, 2007 13:31 ET

EXMIN Announces First Pour at the Moris Mine, Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2007) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is proud to announce that the EXMIN/Hochschild joint venture at the Moris mine has produced its first dore' of gold and silver. The mine is operated by Minas Santa Maria de Moris S.A. de C.V., which is owned jointly by wholly owned Mexican subsidiaries of EXMIN (30%) and the Hochschild Mining Group (70%) (Hochschild) (LSX:HOC).

The First Dore'

The first pour occurred on October 9, 2007. The 18.43 kilogram dore' contained 9.135 kg gold and 9.042 kg silver and marks the beginning of full-scale commercial production at the mine for the partners. See pictures of the "baby bar" on EXMIN's website www.exmin.com.

"This is a milestone event for EXMIN," said Karl Boltz, President and CEO. "EXMIN is a publicly trading exploration junior just two and a half years young and now has 30% ownership of a producing mine. EXMIN is proud to have such a competent and experienced operator for a joint venture partner to operate the mine. The positive cash flow from this operation will help finance development of EXMIN's 100% owned exploration portfolio of district-scale projects throughout northern Mexico."

Moris Mine

The Moris mine, located approximately 15 km due west of Ocampo and 55 km south of Mulatos, is a 3,000 ton per day heap leach operation that employs approximately 200 people on a continuing basis, many of which are from the local community. Metals production is anticipated to ramp up as the operation matures and leaching recoveries increase. The mine is projected to produce 25,000 ounces of gold and 60,000 ounces of silver in 2008. Please see EXMIN's NI 43-101 report on the Moris mine project as posted on SEDAR.

Quality Assurance

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

About Hochschild

Minera Hochschild Mexico (MHM) is a subsidiary of Hochschild Mining plc (HOC.L for Reuters / HOC LN for Bloomberg), a publicly held company listed on the London Stock Exchange. Hochschild is a leading precious metals company with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild currently operates five underground epithermal vein mines, four located in southern Peru and one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has one early stage development project in Mexico and over 15 long-term prospects throughout Latin America. Hochschild has over forty years experience in the mining of precious metal epithermal vein deposits. For further information please visit www.hochschildmining.com.

Neither EXMIN's joint venture partner, Minera Hochschild Mexico, nor Hochschild Mining plc or any of its subsidiaries, accept any responsibility for the use of project data or the adequacy or accuracy of this release.

About EXMIN

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
    President & CEO
    1-888-244-0304
    or
    EXMIN Resources Inc.
    Investor Relations
    1-888-244-0304
    Email: info@exmin.com
    Website: www.exmin.com