EXMIN Resources Inc.

EXMIN Resources Inc.

December 05, 2006 12:30 ET

EXMIN-Penoles Completes Drill Program at the Maguarichic Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 5, 2006) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to announce that the drill program at its 38,800 hectare Maguarichic project, previously announced on November 1, 2006, has been completed by the EXMIN/Industrias Penoles (Penoles) joint venture. A total of 5,007 meters was drilled in 18 reverse circulation holes. The total includes one hole that was abandoned at 40 meters due to drilling problems. Penoles was required to drill a minimum of 2,000 meters in the first year of the earn-in joint venture agreement project, signed on February 13, 2006.

The drill program was designed to test areas of high-level alteration developed along structural zones as identified by field work conducted by Penoles. In general, the holes cut hydrothermally altered andesite and rhyolitic dikes. Alteration types intersected include silicification, quartz-alunite alteration and argillic alteration. Local zones of quartz veinlets were also reported.

Dr. Craig Gibson, Executive Vice President of Exploration for EXMIN stated, "This drill program is the first ever to explore the strike extension of the structural zone exposed at the bonanza grade Patria mine. It was designed to test the strongly altered rocks in several places. Although the drilling was done at relatively high structural levels in the mineralized system where we don't expect to encounter high-grade mineralization, it will provide important information on the geometry and geochemistry of the altered area for subsequent drill programs that will test the structural zone at a greater depth."

All drill samples were sent to BSI Inspectorate for analysis. Due to elevated exploration activity in the region, EXMIN anticipates receiving results after the New Year.

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.


EXMIN Resources Inc. is currently focused on the exploration and development of precious metal properties of significant 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.
    Investor Relations
    Email: info@exmin.com
    Website: www.exmin.com