EXMIN Resources Inc.

EXMIN Resources Inc.

March 13, 2008 11:33 ET

EXMIN Resources Inc.: High Grade Mineralization and Three Mineralized Targets Drilled in 2007 at Moris Exploration Project Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2008) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to announce results from the ongoing exploration program at the Moris exploration project. Drilling began in February, 2007, and 3,696.8 metres were drilled in 16 holes, at three targets. The drill program was designed primarily as a first test of the three large target areas previously identified by EXMIN from 2005 and 2006 surface mapping and sampling programs (see News Releases of Feb. 22, 2006, and July 18, 2006, for more information on the project). The Moris exploration project is the subject of an earn-in joint venture agreement with the Hochschild Mining Group (LSE:HOC) (Hochschild) (see News Release of July 18, 2006).

2007 drilling intersected high grade gold and silver in veins as well as wide zones of lower grade mineralization (see attached table of results). Highlights include vein intercepts with 9.37 grams per metric ton (g/t) gold and greater than 1500 g/t silver over 1.5 metres, and 8.93 g/t gold and greater than 1500 g/t silver over 0.65 metres in the El Pilar area. Wider zones of lower grade silver mineralization were also encountered at El Pilar, including 11 metres of 250 g/t silver and 1.4 g/t gold.

A wide zone of anomalous gold mineralization was cut at Balleza, in an area where EXMIN had previously identified potential for discovery of a bulk tonnage target (see press release of Feb. 22, 2006). This 50 metre interval was only partly sampled; 33 samples cover 33.1 metres with seven gaps that total 16.9 metres. The average grade of the 33.1 metres sampled is 0.67 g/t gold, with 19 samples that assayed more than 0.5 g/t gold, and ranged as high as 3.1 g/t gold, and of the remaining 14 samples, only three samples assayed less than 0.3 g/t gold. More detailed data for this interval is shown in the attached table.

Dr. Craig Gibson, Executive Vice President of Exploration for EXMIN, stated, "Exploration in 2007 drill tested portions of the three major targets or subdistricts that were identified by EXMIN. To our knowledge, these are the first ever drill programs at each area. Assay results suggest that there is potential for the discovery of future resources at each of these target areas. Drill data from the first target at Tecolote, released by EXMIN last summer, showed wide intervals with anomalous gold values and some higher grade veins."

"At the second target drilled last year, El Pilar," said Gibson, "High grade veins were intersected in five out of six holes, and only a small fraction of the target area was tested."

"At Balleza, the third target tested, drilling extended the surface data showing a potential for a large tonnage of mineralized rock," Gibson continued, "and the main part of the target remains to be tested. Many bulk tonnage gold mines use cutoff grades in the range of 0.3 to 0.5 g/t gold."

About The Moris Exploration Project

EXMIN's Moris exploration land package, separate from the Moris Mine land package, consists of 63 concessions covering about 71,000 hectares in the prolific Sierra Madre gold-silver belt. The Moris exploration joint venture currently covers approximately 15,900 hectares of the total exploration land package, and is the subject of an earn-in agreement between EXMIN Resources and the Hochschild Mining Group, whereby Hochschild can earn a 70% interest by making expenditures of US $4.8 million in exploration and making private placements for US $850,000 in shares of EXMIN over five years. The Moris exploration project is separate from the Moris Mine project, and both are separate agreements from the EXMIN-Hochschild strategic alliance announced on July 9, 2007.

Assays and Drill Hole Data from Tecolote Area Drilling (previously released
on July 11, 2007)
Depth Depth (m) Intercept Au Ag
Hole (m) Azimuth Inclination From To m g/t g/t
HMT-1 201.45 270 -55 126.15 166.90 40.75 0.60 3.4
includes 149.85 166.90 17.05 1.05 2.86
includes 152.60 153.05 0.45 5.35 5.0
HMT-2 201.55 270 -55 99.65 106.05 6.40 0.57 3.9
includes 103.15 103.50 0.35 3.63 18.9
109.20 113.70 4.50 1.13 2.3
includes 112.30 113.70 1.40 2.21 2.3
HMT-3 144.60 270 -50 82.70 99.35 16.65(i) 0.89 5.7
includes 83.70 84.30 0.60 3.95 16.7
and 91.30 92.65 1.35 1.73 5.4
and 96.45 97.80 1.35 1.95 6.3
HMT-4 150.00 0 -90 Tested geophysical anomaly - No
significant values

(i) A gap of 1.55 metres due to a missing sample was not averaged.

Summary of Assay Data for Recent Drill Holes at the Moris District
Hole From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
Balleza target
HMB-2 18.51 24.30 5.79 0.70 7.0

57.40 59.47 2.07 0.60 1.9

Mineralized interval with gaps in sampling, 75.06-125.10
75.06 76.65 1.59 0.74 2.9

78.75 88.20 9.45 0.84 5.4
includes 84.85 88.20 3.35 1.47 10.4

88.80 91.65 2.85 1.14 3.6

101.00 105.20 4.20 0.52 3.6

105.40 114.90 9.50 0.56 3.3

115.90 119.10 3.20 0.35 5.1

122.00 122.85 0.85 0.34 2.7

123.60 125.10 1.50 0.71 2.5

El Pilar Area: Finlandia target
HMF-1 55.60 75.95 20.35 0.05 25.2
includes 58.10 59.15 1.05 0.36 178.0

114.60 115.25 0.65 8.93 greater
than 1500.0

HMF-2 37.60 40.00 2.40 0.04 42.4

120.25 120.61 0.36 0.17 62.8

204.98 205.86 0.88 0.20 69.3

HMF-3 55.49 66.45 10.96 1.40 250.4
includes 55.49 57.32 1.83 0.34 108.0
and 64.95 66.45 1.50 9.37 greater
than 1500.0

185.70 186.20 0.50 0.68 101.0

218.35 219.10 0.75 0.29 101.0

227.55 233.15 5.60 0.16 40.3
includes 227.55 228.30 0.75 0.13 55.8
and 232.25 233.15 0.90 0.84 191.0

HMF-4 92.80 93.70 0.90 4.65 5.5

HMF-6 190.65 193.30 2.65 0.03 257.9
includes 190.65 191.70 1.05 0.04 524.0

Quality Assurance

Samples were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Samples with more than 10 g/t gold were analyzed by gravimetric methods. Silver and the base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver or more than 1% base metals were analyzed by AA.

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. 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.


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
    1-866-493-9646 or 1-866-49-EXMIN
    EXMIN Resources Inc.
    Investor Relations
    1-866-493-9646 or 1-866-49-EXMIN
    Email: info@exmin.com
    Website: www.exmin.com