KARMIN EXPLORATION INC.
TSX VENTURE : KAR

KARMIN EXPLORATION INC.

June 17, 2008 07:00 ET

Karmin Exploration: Drill Results From Aripuana Project, Brazil

Includes 28.4 Metres Grading 9.1% Zinc, 4.2% Lead

TORONTO, ONTARIO--(Marketwire - June 17, 2008) - Karmin Exploration Incorporated ("Karmin" or the "Company") (TSX VENTURE:KAR) is pleased to announce it has received further drilling results in the May 2008 monthly report 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 base metal assay results from 7 drill holes which were drilled into the Ambrex and Arex deposits summarized in Table 1 below. Gold and silver were not reported. The engineering firm, MinProc of Australia, is conducting a US$ 15 million feasibility study on the project, due for completion in early 2009, fully funded by Votorantim.

Highlights included hole FPAR 147 from the proposed open pit at Arex which returned 28.4 metres grading 9.1% zinc and 4.2% lead and from Ambrex FPAR 200 with 7.8 metres grading 10.3% zinc and 3.7% lead. The drill locations can be found at http://www.karmin.com/content/2008.06.17-drillLocations.html. The feasibility study is progressing well, and an updated National Instrument 43-101 compliant resource estimation is expected later this year incorporating the new drilling results.

Votorantim also reported that they completed 817.3 metres in 3 drill holes in May, and took 468 soil samples in the ongoing regional exploration programs.

View Geological Maps at http://www.karmin.com/content/ArexAmbrexBabacu-GeologicalMaps.html.

Background

The Arex, Ambrex, Ambrex Deep, 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. The combined exploration, development and metallurgical drilling program for 2008 is planned to be over 25,000 metres, of which 7,887 metres were completed by the end of May, 13% ahead of schedule. The first National Instrument 43-101 compliant indicated resource at Aripuana was reported on 20th October 2007 as 27.7 million tonnes grading 3.53% zinc, 1.34% lead and 35.25 g/t silver.



Table 1. Drill Results from the May Monthly report

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Target Hole ID From To Drill Silver Copper Lead Zinc
length gms/ % % %
tonne
Arex FPAR147 38.2 66.6 28.40 NR 0.10 4.15 9.14
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Ambrex FPAR162 279.0 286.6 7.6 7.0 0.1 0.3 3.9
FPAR162 313.9 333.0 19.1 40.0 0.0 1.4 3.5
FPAR162 338.0 343.0 5.0 50.0 0.1 2.4 10.1
FPAR162 348.5 354.6 6.1 17.0 0.0 1.2 4.1
FPAR162 364.6 374.0 9.4 41.0 0.1 1.5 3.4
FPAR162 389.0 401.1 12.1 21.0 0.0 1.0 2.9
FPAR162 482.4 491.7 9.3 17.0 0.0 0.9 3.9
FPAR162 506.2 512.8 6.6 21.0 0.0 1.2 3.7
FPAR162 532.9 536.4 3.5 41.0 0.0 2.0 11.5

Ambrex FPAR164 277.4 290.4 13.1 NR 0.1 0.8 2.9
FPAR164 300.0 304.4 4.4 NR 0.0 1.0 3.0
FPAR164 318.0 326.1 8.1 NR 0.9 0.3 4.7

Ambrex FPAR166 279.0 287.0 8.0 82.0 0.0 3.1 4.4
FPAR166 323.0 327.8 4.8 44.0 0.1 1.4 4.0
FPAR166 337.6 342.3 4.6 27.0 0.0 0.9 2.8

Ambrex FPAR167 333.1 345.9 12.8 15.0 0.0 0.8 2.5
FPAR167 347.7 358.5 10.8 19.0 0.0 1.3 3.0
FPAR167 377.2 383.1 6.0 NR 0.0 0.5 4.6

Ambrex FPAR168 395.6 420.0 24.4 23.0 0.0 1.3 5.4

Ambrex FPAR200 543.3 546.3 3.0 NR 0.0 1.1 4.0
FPAR200 547.5 555.3 7.8 0.0 3.7 10.3
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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 41,453,591 fully diluted. William Fisher, P.Geo. President of Karmin is the designated Qualified Person under National Instrument 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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