May 14, 2008 07:00 ET

Karmin Exploration: Drill Results From Aripuana Project, Brazil

Includes 11.8 Metres Grading 21.9% Zinc and 4.1 Metres Grading 6.9% Copper New Lens Discovered Below Ambrex Deposit

TORONTO, ONTARIO--(Marketwire - May 14, 2008) - Karmin Exploration Incorporated ("Karmin" or the "Company") (TSX VENTURE:KAR) is pleased to announce it has received further drilling results from their project partner, Votorantim Metais ("Votorantim") from their 30% owned Aripuana zinc/copper/lead/gold/silver massive sulphide district in Mato Grosso, Brazil. Votorantim reported on assay results from 5 drill holes which were drilled in late 2007 into the Ambrex and Arex deposits as summarized in Table 1 below. A Feasibility Study, due for completion in early 2009, is being conducted by the engineering firm, MinProc of Australia.

Arex - Highlights included hole FPAR 146 which returned 11.8 metres grading 21.9% zinc, 8.5% lead and 177g/t silver and FPAR 139 with 4.1 metres grading 6.9% copper, 1.7 g/t gold and 51 g/t silver. The drill locations can be found at http://karmin.com/content/ArexAmbrexBabacu-GeologicalMaps.html. "These results include high grade copper intersections from the planned open pit portion of the Arex deposit", commented Bill Fisher, Karmin's CEO. "We anticipate a regular flow of drilling news leading to updating of the National Instrument ("NI") 43-101 compliant resources, as the feasibility study develops."

Ambrex - Drilling revealed a new discovery at depth. The Company has received further information on drill hole FPAR 157, reported on April 30th 2008. The drill hole was drilled for geo-statistical information and to collect metal bearing rock for metallurgical testing. The first six intersections between 215 metres and 363 metres were from the known Ambrex mineralization, which has NI 43-101 compliant indicated and inferred resources. Drilling continued to depth following the sediment/volcanic boundary, which has been identified as the mineralized horizon throughout the complete district. A new mineralization was discovered in three intersections between 538 metres and 601 metres, where the lowest two intersections returned 9.9 metres grading 28.8% zinc, 10.7% lead and 319 g/t silver, and 4 metres grading 1.1% zinc, 8.7% lead and 301 g/t silver. "This new, high grade mineralization, found 170 meters below the Ambrex Deposit, is not part of any published resource", concluded Bill Fisher. "This success adds to the potential of the Aripuana district for identifying new ore bodies, and we congratulate the Votorantim geological team for their first class exploration skills leading to another mineralized discovery."


The Arex, Ambrex, Babacu, Massaranduba, Baroca and Mocoto massive sulphide bodies were discovered by Karmin and its partners in the emerging Aripuana massive sulphide district which is considered to lie entirely within Karmin's joint venture area. Three drill rigs are being deployed to complete the planned 20,000 metre drill program for 2008.

Table 1. Drill Results from the April Monthly report

Intersection Grades
From To Length Silver Gold Copper Lead Zinc
Deposit Hole m. m. m. g/t g/t % % %
Ambrex FPAR162 279.0 286.6 7.6 7 0.1 0.3 3.9

Arex FPAR139 139.7 143.7 4.05 51 1.65 6.9 0.0 0.1

Arex FPAR141 83.3 86.8 3.5 40 4.2 0.1 0.2

91.7 94.8 3.1 27 2.6 0.1 0.1

104.7 110.4 5.75 18 0.1 0.9 6.0

164.1 167.3 3.2 17 0.2 0.9 3.6

Arex FPAR146 126.4 138.2 11.75 177 0.3 8.5 21.9

164.3 167.4 3.1 56 1.8 1.0 3.7

Arex FPAR148 119.7 123.0 3.3 52 2.1 1.7 8.7

Scientific and Technical Information

Sample preparation for Votorantim was undertaken at ALS Chemex laboratory - Belo Horizonte, Brazil and the pulps analyzed at ALS Chemex laboratory - Lima, Peru using full digestion ICP assay. Full QA/QC procedures were implemented, including the insertion of one out of three standards every 40th sample and blank samples inserted every 40th sample (i.e. every 20th sample was either a standard or blank). Pulp and coarse reject duplicate samples were also inserted every 20th sample. Field duplicate (replicate) were also inserted every 20th sample during some period and now are inserted every 100th sample. Randomly selected check samples are routinely sent to another international laboratory for analysis by ICP on a yearly basis. This procedure is followed systematically by Votorantim, and was their stated procedure for all previously reported results by Karmin for 2007.

About Karmin

Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin through its subsidiary Mineracao Rio Aripuana Ltda. holds 30% of the Aripuana project. Karmin is free carried to the completion of a fully independent bankable feasibility study. The remaining 70% is owned by Anglo American Corporation who is optioning their interest to Votorantim Metais (a division of the privately-held Votorantim Group), the project operator, and Votorantim have already earned 70% of Anglo's interest. Votorantim, the world's 6th largest zinc producer, have two zinc smelters, and are currently purchasing over 50% of their concentrate needs. Their stated objective is to find more zinc resources from their own mines to feed concentrates to their smelters, rather than rely on external mining companies.

Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 38,453,591 shares outstanding and 40,053,591 fully diluted. William Fisher, P.Geo. President of Karmin is the designated Qualified Person under NI 43-101. He has reviewed this release for accuracy.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin and Votorantim are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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