Explorator Resources Inc.

Explorator Resources Inc.

September 20, 2007 09:00 ET

Explorator Resources Retains Micon for Initial El Espino-Venus Resource Estimate

TORONTO, ONTARIO--(Marketwire - Sept. 20, 2007) - Explorator Resources Inc. (TSX VENTURE:EXO) is pleased to announce that it has contracted the services of Micon International Limited, a leading provider of consulting services to the international mining industry, to complete the mineral resource estimate at its El Espino-Venus project in Chile.

Explorator is presently mid-way through its 25,000 meter Phase Two drilling program at the El Espino-Venus project that commenced in June 2007. Presently there are six drill rigs operating onsite and the drilling program is scheduled to be completed in Q4 of this calendar year. Micon's work on the resource estimate will focus on the Ravanales and Rachel zones (see Figure 1).

"We have made exceptional progress with our resource definition drill program at El Espino-Venus and are eager to advance our development by contracting Micon to perform a first resource estimate on the zones drilled at closer spacing," said David O'Connor, President and CEO of Explorator Resources. "Our objective is to complete a NI 43-101 Compliant Mineral Resource Estimate on the shallower part of the mineralized system, containing mostly oxide mineralization, by the first quarter of calendar 2008. We also intend to demonstrate additional potential by drilling targets outside of the main zone in several of the other project defined zones (see Figure 1). With this announcement we remain on track to meet these important corporate milestones."

Positive results from the Phase One and Two drilling programs on El Espino-Venus have indicated continuity of the manto mineralization as previously documented in historic drilling performed by North Ltd. and Teck-Cominco. The Company has been receiving very encouraging drill results on El Espino-Venus as it continues to intersect significant high grade copper-gold mineralization (see Press Release, September 12, 2007).


Explorator Resources is a Canadian-based mining exploration company focused on building a strong position of copper-gold projects in South America. Explorator is initially concentrating its efforts in the mineral rich Cordillera de la Costa province in Chile. The Company's El Espino-Venus Project lies within this prolific copper-gold mineral area and is central to an important cluster of "Candelaria-style" copper-gold deposits. El Espino-Venus is located in the Illapel district, approximately 3.5 hours drive north of Santiago. The El Espino-Venus block covers 11 square kilometers and is host to major gold and copper mineralized structures on which nine small operating mines have been developed.


Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information are identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and included, without limitation, statements regarding the company's plan of business operations, production levels and costs, potential contractual arrangements and the delivery of equipment, receipt of working capital, anticipated revenues, mineral reserve and mineral resource estimates, and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral reserve and resource estimates, equipment and supply risks, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

To view a map of Figure 1, please visit the link below: http://www.ccnmatthews.com/docs/exo920.pdf

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