EXMIN Resources Inc.
TSX VENTURE : EXM

EXMIN Resources Inc.

August 13, 2008 09:37 ET

EXMIN-Yale Begin Third Year of JV And Sample 441 g/t Silver Over 2.35 Metres at the Rosario Area, Urique Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2008) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) and its joint venture partner, Yale Resources (Yale) (TSX VENTURE:YLL) are pleased to announce that Yale has confirmed that it will continue with the third year of the joint venture, and, as part of the joint venture agreement, will forward 200,000 shares of Yale stock to EXMIN.

The joint venture is also pleased to announce that continued exploration has successfully expanded the silver-gold mineralization at the El Rosario Target, an important past producer in the Urique district. The Rosario tunnel, the largest of three important workings known in the area, was dewatered and has been mapped and sampled through the mineralized areas.

Results from the initial work completed in the Rosario area, published in a Yale Resources News Release dated Feb. 6, 2008, highlighted the presence of high grade mineralization in channel samples with as much as 10.6 grams per metric tonne (g/t) gold and 8,290 g/t silver from 10-40 centimetre wide veins. Subsequent work has focused on evaluating the potential for wider veins and mineralization in the altered wall rocks to the vein systems; assays of as much as 1,640 g/t silver over 1.05 metres, 441 g/t silver over 2.35 metres and 8.8 g/t gold over 0.85 metres have been reported (see table of assay results below). Also, samples of altered and mineralized wall rocks have yielded as much as 257 g/t silver and 0.78 g/t gold over 5.0 metres (sample 9106, mineralized intrusive, see table below).

The first phase sampling program at El Rosario concentrated on mineralization on surface. With the discovery of the very high grade nature of the veins and the bulk tonnage potential of the area, it was critical that the exploration teams gain access to the underground workings. This second phase of exploration has now been successful in continuing to grow the potential of the target.

The presence of multiple vein sets hosting high grade silver-gold mineralization, as well as felsic intrusives related to widespread alteration and mineralization of the andesitic rocks, suggest that the El Rosario target area has the potential to expand further.

Craig Gibson, Executive Vice President of Exploration for the company, stated, "Work at the Rosario area has focused on identifying wider mineralized structures and building a three dimensional framework of the vein system. We know that the narrow veins yield very high grade assays, in one case approaching 1% silver. Additional sampling has yielded high grade assays over more typical underground mining widths, and also shows the potential for development of a bulk tonnage resource."

Ongoing exploration:

Ongoing exploration will continue at the El Rosario Target as a fourth important working, Feliciano, has now been located near the northern end of the vein system. This tunnel has now been re-opened; mapping and sampling is planned. With continued success at the El Rosario target area, a drill program for this important target is being planned during the third year of the agreement.



Selected assay results from veins in the Rosario area, Urique district:
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Vein/level/sample Width (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
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Vein 1
------
Rosario level
-------------
9050 0.65 0.28 61.8 0.4 0.1 0.2
9053 NA 0.36 269.0 0.8 0.2 0.1
Vein 2
------
Tezcalama level
---------------
6842(i) 0.17 2.87 1155.0 1.1 2.7 0.2
El Salto mine
-------------
6858(i) 0.22 4.93 804.0 0.2 0.4 0.1
Vein 3
------
Surface workings
----------------
7483-84 0.80 0.28 405.3 0.2 0.9 0.9
including 7483(i) 0.10 2.14 3220.0 1.2 7.4 6.9
9010-14 4.37 0.25 174.7 0.1 1.9 0.4
including 9012-13 1.27 0.32 290.0 0.1 0.3 0.1
including 9013 0.27 1.30 1320.0 0.6 1.1 0.2
9014 0.60 1.46 457.0 0.7 0.9 0.4
Rosario level
-------------
9129 0.95 0.79 54.8 - 0.2 0.1
9135 1.60 0.13 55.6 0.2 0.2 0.3
Vein 4
------
Surface
-------
9028 0.25 3.59 842.0 0.2 3.8 4.9
9030 0.80 0.41 48.5 - 0.2 0.1
Surface workings
----------------
9044 1.15 0.27 82.9 - 2.2 0.3
9045-47 2.65 0.12 157.0 0.1 0.4 0.2
including 9047 1.45 0.15 229.0 0.1 0.4 0.2
Tezcalama mine
--------------
6838(i) 0.10 0.35 1550.0 0.5 0.4 0.2
6840(i) 0.10 2.24 524.0 0.2 1.3 0.2
Rosario level
-------------
9116 2.20 0.09 88.1 0.1 0.1 0.2
9121 0.36 0.36 98.0 0.1 0.5 1.2
Vein 5
------
Surface workings
----------------
9031 0.80 0.83 581.0 0.2 5.3 0.5
9039-43 2.75 0.78 149.7 - 0.6 0.1
including 9041-43 1.55 1.22 251.3 - 0.9 0.1
including 9042 0.25 5.77 1450.0 0.2 4.2 0.2
7485-86(i) 1.05 0.52 1640.8 0.3 1.1 0.3
including 7485(i) 0.20 1.73 8290.0 1.6 5.0 0.6
7487-89(i) 2.35 0.52 440.9 0.1 1.4 0.2
including 7487(i) 0.20 2.78 3640.0 1.0 11.7 0.3
7490(i) 0.12 8.88 1030.0 0.3 8.6 1.8
Rosario Level
-------------
9103 1.55 0.27 37.1 - 0.1 0.0
9106 wall rock 5.00 0.78 257.0 0.1 0.8 0.1
9108 1.15 0.13 38.7 - 0.1 0.2
9113 1.20 0.71 109.0 - 0.1 0.1
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(i) Sample data previously released, included here for completeness.


About the Urique Project:

The Urique project is located in the prolific Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, and includes sixteen concessions covering 29,100 hectares (please visit www.exmin.com to view project maps). The project includes the town of Urique, an historic silver producing area similar to nearby Batopilas. The project land package abuts the properties surrounding several active exploration and mining projects, including the El Sauzal mine (Goldcorp), and exploration properties of Dia Bras, Paramount Gold and Silver, and Kimber Resources. Paramount's Andrea project and Kimber's Monterde project land packages were staked up to the Urique project land boundaries.

The Urique project is the subject of an earn-in joint venture between EXMIN Resources and Yale Resources, whereby Yale can earn up to a 75% interest. Yale may earn an initial 60% interest in the project by making expenditures of US $2.8 million in exploration and issuing 1 million shares to EXMIN over four years, and can earn an additional 15% interest by investing US $1.7 million in exploration and issuing 500,000 shares to EXMIN in the fifth year. EXMIN is the project operator.

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 10g/t gold were analyzed by fire assay and 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. Samples with more than 1,500 g/t silver were analyzed by gravimetric methods.

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. Ian Foreman, P.Geo. is the Qualified Person for Yale Resources Ltd. and has reviewed this news release.

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.

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