Explorator Resources Inc.
TSX VENTURE : EXO

Explorator Resources Inc.

November 13, 2007 09:18 ET

Explorator's Definition Drilling at El Espino-Venus Continues to Intercept High Grade Copper Oxides

Results include 56m @ 1.14%Cu and 46m @ 0.98%Cu, 0.63g/tAu.

TORONTO, ONTARIO--(Marketwire - Nov. 13, 2007) - Explorator Resources Inc. (TSX VENTURE:EXO) continues to intersect significant copper-gold mineralisation in its 25,000m Phase Two drilling program at the El Espino-Venus Project in Chile. To date the company has completed over 20,000 meters of this program.



New shallow intercepts in the Ravanales copper oxide zone include:
- Hole MXE - 93 108m @ 0.70%Cu
incl 56m @ 1.14%Cu and 38m at 1.50%Cu

- Hole MXE - 97 88m @ 0.53%Cu
incl 20m @ 1.21%Cu and 8m at 1.04%Cu

- Hole MXE - 111 46m @ 0.98% Cu and 0.63 g/t Au
incl 20m @ 1.52% Cu with 10m of 0.76% Cu, 2.78 g/t Au
(See Table 1 below for complete results. Note: All intervals are oxides.)


"We continue to obtain significant "ore grade" oxide copper intercepts in our shallow drilling at Ravanales, an area that will make a significant contribution to our initial 43-101 Resource Estimate. Interestingly, many intercepts begin at surface and demonstrate the potential for a low stripping ratio of open pittable, low-cost resources. Oxide ore is generally cheaper to treat, both in terms of capital and operating cost. This has the potential to allow lower grade ore to become economic through low-cost treatment methods" noted David O'Connor, President and CEO of Explorator.

O'Connor continued: "MICON International Ltd. has been engaged to complete an initial 43-101 compliant Resource calculation (see Press Release September 20, 2007). We are rapidly completing close-spaced shallow drilling in this area (generally 50x50 meters) to provide MICON with the maximum amount of data possible to be included in the oxide portion of Resource Estimate. It is our expectation that an oxide open pit (SXEW) operation would commence at El Espino before mining the deeper sulphides. We have tasked MICON with the objective of delivering the initial 43-101 Resource Estimate in early 2008."

Explorator has experienced some delays in receiving analytical results from the ALS assay laboratory in La Serena, Chile due to equipment issues at the lab. The lab is fully operational again, however and has placed a priority on the backlog of the more than 2,000 drill samples belonging to Explorator. The company expects to receive the majority of these backlogged assays in the coming weeks and will work quickly to compile and announce drill results as soon as possible.

About Explorator Resources Inc.

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 "Candelariastyle" 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.



TABLE 1
Drill Results From Ravanales Oxide Zone


HOLE From Width Cu% Au g/t
-------------------------------------------
MXE-81 28 - 66 38 0.38 0.12
-------------------------------------------
Incl. 14 0.72 0.24
-------------------------------------------
MXE-82 0 - 70 70 0.40 -
-------------------------------------------
Incl. 24 0.59 -
-------------------------------------------
MXE-83 18 - 46 28 0.40 -
-------------------------------------------
Incl. 8 0.78 -
-------------------------------------------
MXE-84 18 - 74 54 0.32 -
-------------------------------------------
Incl. 16 0.49 -
-------------------------------------------
MXE-85 0 - 18 18 0.69 0.23
-------------------------------------------
MXE-86 20 - 22 2 0.98 2.30
-------------------------------------------
MXE-87 0 - 20 20 0.59 0.17
-------------------------------------------
24 - 44 20 0.22 0.45
-------------------------------------------
Incl. 4 0.33 2.05
-------------------------------------------
MXE-88 12 - 22 10 0.21 -
-------------------------------------------
MXE-89 0 - 48 48 0.28 -
-------------------------------------------
Incl. 8 0.54 0.10
-------------------------------------------
MXE-90 0 - 18 18 0.24 -
-------------------------------------------
22 - 44 22 0.31 -
-------------------------------------------
Incl. 8 0.52
-------------------------------------------
MXE-91 16 - 76 60 0.55 -
-------------------------------------------
Incl. 8 1.03 0.11
-------------------------------------------
Incl. 10 1.30 -
-------------------------------------------
MXE-92 0 - 10 10 0.25 -
-------------------------------------------
14 - 40 26 0.20 -
-------------------------------------------
Incl. 8 0.54 0.10
-------------------------------------------
MXE-93 0 - 108 108 0.70
-------------------------------------------
Incl. 56 1.14
-------------------------------------------
Incl. 38 1.50
-------------------------------------------
MXE 94 42 - 90 46 0.31
-------------------------------------------
MXE 95 22 - 38 16 0.37
-------------------------------------------
MXE 96 0 - 36 36 0.35
-------------------------------------------
MXE 97 0 - 88 88 0.53
-------------------------------------------
Incl. 20 1.21
-------------------------------------------
Incl. 8 1.04
-------------------------------------------
MXE 98 0 - 42 42 0.34
-------------------------------------------
MXE 99 0 - 46 46 0.92
-------------------------------------------
Incl. 32 1.17
-------------------------------------------
MXE 110 0 - 44 44 0.37
-------------------------------------------
MXE 111 0 - 46 46 0.98
-------------------------------------------
Incl. 20 1.52
-------------------------------------------
Incl. 10 0.76 2.78
-------------------------------------------
MXE 112 0 - 28 28 0.64 0.49
-------------------------------------------
Incl. 12 0.61 1.03
-------------------------------------------
MXE 120 82 - 92 10 0.41 0.14
-------------------------------------------
Incl. 8 0.23 0.08
-------------------------------------------
Incl. 6 0.47 0.18
-------------------------------------------
Incl. 4 0.16 0.01
-------------------------------------------


To view "FIGURE 1 - EL ESPINO-VENUS PROSPECT AREAS", please visit the link below:

http://www.ccnmatthews.com/docs/exploratorfig1.pdf

To view "FIGURE 2 - RAVANALES OXIDE ZONE", please visit the link below:

http://www.ccnmatthews.com/docs/exploratorfig2.pdf

REGULATORY FOOTNOTE

Mr. Michael Schuler, Explorator Resources' Vice President, Exploration is the "Qualified Person" as defined under the National Instrument 43-101 and is responsible for the scientific and technical work on Explorator's exploration program and is responsible for reviewing the technical disclosure in this news release. All analytical work has been completed by ALS Chemex of La Serena in Chile; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO17025:1999. They employ a variety of international standards for quality control purposes. Samples are transported from the project to the ALS Chemex laboratory in La Serena sample by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (1) ALS Analytical Code Au-ICP22 (Au 50g fire assay with ICP-AES finish), (2) ALS analytical code Au-GRA22 (Au 50g fire assay with a gravity finish), (3) ALS analytical code ME-ICP61 (33 element analysis using a four acid digestion and ICP-AES analysis), (4) ALS analytical code Cu-AA62 (ore grade copper analysis using a four acid digestion and an AAS finish. All diamond drill core is geologically logged, cut in half using a diamond saw and sampled by Company geologists in one (1) to three (3) meter sample intervals depending on visual grade estimates; the archive portion of the sample is securely stored at the company's core shed adjacent to the office in the town of Illapel.

The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.

FORWARD-LOOKING STATEMENTS

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.

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