KARMIN EXPLORATION INC.
TSX VENTURE : KAR

KARMIN EXPLORATION INC.

April 24, 2008 12:56 ET

Karmin Exploration Receives Drilling Results for the Aripuana Zinc/Lead Project, Brazil: Includes 24.1 Metres Grading 8.9% Zinc, 3.7% Lead and 88 g/t Silver

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - Karmin Exploration Incorporated ("Karmin" or the "Company") (TSX VENTURE:KAR) is pleased to announce it has received 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 summarized in Table 1 below. Highlights included hole FPAR 133 which returned 17.3 metres grading 9.0% zinc, 1.9% lead and 29 g/t silver and FPAR 160 which returned 24.1 metres grading 8.9% zinc, 3.7% lead and 88 g/t silver within a wider intersection of 60.9 metres grading 5.20% zinc and 1.75% lead. Locations of 2007/2008 drill locations can be found at http://karmin.com/content/ArexAmbrexBabacu-GeologicalMaps.html



Table 1. Drill Results from the January and February Monthly reports

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Intersection Grades
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Deposit Hole From To Length Silver Gold Copper Lead Zinc
m. m. m. g/t g/t % % %
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Ambrex FPAR131 263.8 269.5 5.6 58 1.3 2.1 0.0 0.1

296.7 299.6 2.9 24 0.1 1.0 3.2

302.6 310.9 8.3 62 0.1 3.3 8.8

323.8 333.4 9.6 38 0.0 1.6 5.6

357.9 364.3 6.4 19 0.1 1.0 4.4

372.0 375.9 3.9 10 0.1 0.3 5.2

392.3 396.9 4.6 8 0.2 0.1 5.2

407.7 411.7 4.0 39 0.2 1.3 4.7

429.5 440.3 10.8 101 0.0 3.4 7.9

446.8 451.7 4.9 148 0.0 4.2 2.3
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Intersection Grades
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Deposit Hole From To Length Silver Gold Copper Lead Zinc
m. m. m. g/t g/t % % %
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Ambrex FPAR133 352.2 369.5 17.3 29 0.1 1.9 9.0
400.4 403.4 3.0 19 1.0 1.0 0.0 0.1
407.1 412.4 5.3 6 0.0 0.3 6.2

Ambrex FPAR160 314.8 338.8 24.1 88 0.0 3.7 8.9
344.0 351.6 7.6 23 0.0 0.6 3.2
354.4 364.9 10.5 13 0.1 0.6 4.3
368.3 370.9 2.6 12 0.2 0.8 3.4
373.0 375.7 2.6 13 0.1 0.6 4.9
382.0 387.0 5.0 36 1.1 2.8 0.0 0.1
402.0 405.1 3.1 30 1.6 1.9 0.0 0.0

Arex FPAR137 38.2 43.0 4.9 36 0.0 1.1 4.3

Arex FPAR140 48.8 52.9 4.1 133 0.8 2.0 3.0 8.6
53.8 69.4 15.6 138 0.1 4.0 6.0
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Five drill rigs are currently deployed on the Arex, Ambrex, Babacu and Massaranduba targets. The program is expected to reach full speed in the oncoming dry season, to complete the planned 20,000 metre drill program for 2008.

Update on Ongoing Feasibility Study

On March 19th 2008, Votorantim reported to Karmin that they have commenced and are fully funding a full feasibility study on Aripuana by engineering firm, MinProc of Australia, scheduled to be completed within 12 months, and plan to have the project permitted before the end of 2009. Karmin owns a 30% interest in the project and is not required to contribute financially until after the completion of a feasibility study. Votorantim also reports that the metallurgical testing is underway to determine the final flow sheet and plant design. On site meteorological data is continuously collected, as part of the Environmental Impact Assessment program, advancing the permitting process for the project.

In 2008 Votorantim have already drilled 5,808 metres in 27 holes in four targets (see table below) adding to the 76 holes totaling 28,812 metres drilled in the US$ 10 million 2007 program. A total of over 117,000 metres have been drilled on the property to date. The 2008 drill program will consist of approximately 20,000 metres of drilling to complete the definition of the ore bodies at a 25 x 50 metre spacing. The work programs in January included in-fill drilling at Arex and Ambrex, and exploration drilling at Babacu and Massaranduba, plus the finalization of the geological model for Babacu. Publication of a National Instrument 43-101 compliant resource at Babacu is expected before the end of 2008.



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Mineralization Holes already drilled in 2008
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Massaranduba 6
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Babacu 3
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Ambrex 10
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Arex 8
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Total 27
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Please note: To view Figure 1. Long Section of the northern sector of the Aripuana Massive Sulphide District, please visit the following link:

http://media3.marketwire.com/docs/karmin0424fig.pdf

2007 program

Votorantim also provided information on the US$ 10 million 2007 work program, summarized in the chart below. The team consisted of 5 full time geologists and 137 support staff. The following work was completed in 2007.



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2007 Work Program
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Task Completed
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Diamond drilling 63 holes 25,577.90 metres
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Metallurgical drilling 13 holes 3,234.05 metres
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Samples taken (diamond drilling) 3,440
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Rock samples 151
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Soil samples 799
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MMI soil samples 389
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Drill site prepared 77
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Line cutting (prospecting, sampling,
geophysics) 199 kilometres
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Bay Street Connect

In other news, Karmin would also like to announce that the investor relations agreement dated March 7, 2008 between Karmin and the investor relations group, Bay Street Connect, has been amended from the agreement announced on March 12, 2008. The amendments increase the number of options issuable under the agreement from 100,000 to 225,000, increase the notice for termination of the agreement from 60 to 120 days and remove the payment of a success bonus in the event of a change of control transaction or other fundamental transaction of Karmin.

Background

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. 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.

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 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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