EXMIN Resources Inc.

EXMIN Resources Inc.

April 24, 2007 09:32 ET

EXMIN-Yale JV Continues to Encounter Mineralization at the Urique Project, Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 24, 2007) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) and its joint venture partner, Yale Resources (Yale) (TSX VENTURE:YLL) are pleased to provide an update on the exploration program at the Urique Project. The joint venture has been actively exploring known mineralized areas within the 29,107 hectare project area. Seven separate areas of mineralization and alteration had previously been recognized, and the current program has continued to identify new areas of mineralization.

Craig Gibson, Vice President of Exploration of EXMIN, stated, "During the last several months we have been completing the exploration work necessary to define drill targets on the large property position that we control in the Urique project. Work at the Cerro Colorado target has confirmed our interpretation of a large scale structure with gold and silver mineralization. Ongoing exploration is focused on evaluating additional mineralized areas to develop more drill targets."


Two exploration crews are currently exploring the project. The first is working in the northern half of the land package near the Cerro Colorado target. This area lies along the regional trend of mineralization about 25 km from the Monterde deposit being explored by Kimber Resources. The Cerro Colorado target has been trench sampled over approximately 2.5 kilometres of strike length. Multiple areas of mineralization with more than 1 gram per metric ton (g/t) gold and more than 32 g/t silver have been identified (please see Yale Press Release of February 15, 2007 for trenching results from Cerro Colorado). The Cerro Colorado target is now ready for a drill program planned for the fourth quarter, 2007, and permitting of new roads and drill sites is in progress.

Exploration work in the northern part of the property has now moved to the San Pedro target area. Past work by EXMIN identified several small mines and prospects developed on quartz veins with assays ranging from 6.6 to 35 g/t gold and 61 to 401 g/t silver over 0.3 to 1.1 metre vein widths (see Press Release of May 17, 2006 for San Pedro sample data). Geologic mapping and trench sampling have identified several vein structures and areas of alteration; assays are pending.

The second crew is exploring the southern half of the project in the Urique canyon on concessions that are immediately north of Goldcorp's El Sauzal land package. Exploration work has consisted of first pass reconnaissance visits to areas of known mineralization and alteration on the large land position, including the mines within the Urique district, and the El Frijolar and Platano zones. In general, a few rock chip samples are taken in each area (see table below), commonly at old mines and prospect pits, in order to evaluate and prioritize them. Several new areas of mineralization were identified during these visits, including El Sauz, El Toston, and Mina Hueso.

In the Urique district, the Santa Patricia and Mariscal veins yielded interesting values of 23 g/t gold and 79 g/t silver and 2.35 g/t gold and 667 g/t silver, respectively. The El Frijolar area consists of strongly altered rocks with locally abundant quartz veining that yielded as much as 0.56 g/t gold and 101 g/t silver. A sample from the Mina Hueso reported 32 g/t gold and 39 g/t silver. At El Sauz, at the southern boundary of the concession block, a mineralized structure yielded 0.57 g/t Au and 532 g/t silver.

Assays for selected samples, southern Urique Project
Area/ Width Au Ag Cu Pb Zn
Sample (m) (g/t) (g/t) % % %
El Frijolar
802 2.5 0.22 19.3 0.3 - -
803 1.5 0.56 101.0 0.2 0.4 -
806 1.8 0.10 52.2 0.3 0.1 0.2
807 1.0 0.05 18.3 0.4 0.1 0.1
El Platano
2482 0.4 0.22 92.9 0.1 0.3 -
El Sauz
2483 1.5 0.57 532.0 0.2 1.7 0.1
2485 2.0 0.22 14.4 - - -
2486 dump 1.49 130.0 0.3 1.1 2.1
2487 0.7 0.22 9.4 - 0.1 -
2489 1.4 0.43 54.6 0.1 0.1 0.2
2490 1.5 0.85 339.0 0.8 0.9 0.3
Mina Hueso
813 dump 2.47 30.6 0.3 0.4 -
814 0.2 32.00 39.8 0.2 0.1 -
Santa Patricia
821 0.5 23.00 73.9 - 2.9 3.0
822 0.15 2.15 6.7 - 0.1 0.4
829 0.4 2.35 667.0 0.8 30.3 4.8
830 0.25 0.35 145.0 0.6 5.3 2.4
831 1.0 0.25 80.6 0.1 4.0 0.5


Samples were prepared and analyzed by ALS Chemex at their labs in Mexico and Vancouver and 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 (overlimit) are analyzed using gravimetric methods. Silver and other elements were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver and/or more than 1 % copper, lead or zinc (overlimit) are analyzed by AA.

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