SOURCE: MMX Mineragco e Metalicos S.A.

February 27, 2008 18:15 ET

MMX Discloses Preliminary Technical Report of AVG's Mineral Resources

RIO DE JANEIRO, BRAZIL--(Marketwire - February 27, 2008) - MMX Mineração e Metálicos S.A. (BOVESPA: MMXM3) (TSX: XMM) ("MMX" or the "Company") hereby informs its shareholders and investors that the preliminary Technical Report of AVG Mineração S.A.'s ("AVG") mineral resources has been concluded, in accordance to the rules of the Toronto Stock Exchange and of the Canadian exchange commissions.

The resource estimate presented in the Report was based on the preliminary data collected on the drilling campaign that initiated in 2007, as part of the due diligence process for AVG's acquisition.

MMX will continue its drilling campaign in 2008 in conformity to SRK Consulting's recommendation, as presented below:

                               pattern   number of   area    number of
                                 (m)       holes     (m)     samples
                               --------- --------- --------- ---------
     2007 (AVG)                irregular        11    440.45        78
                               --------- --------- --------- ---------
     2007 (MMX)                200 x 200        26  1,665.55       233
                               --------- --------- --------- ---------
        Total                                   37  2,106.00       311

                               --------- --------- --------- ---------
     2008 (planned)            100 x 100        70  5,000.00     1,000
                               --------- --------- --------- ---------

MMX plans on releasing an updated and more detailed Report by the end of 2008.

The audit of the resources and reserves was carried out according to the standards set by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Standards) and by the National Instrument 43-101 of the Canadian Securities Administrators (NI 43-101).

SRK Consulting, a company specialized in geology, mining and mineral resources determination, was responsible for the audit. The Qualified Person who has reviewed this Press Release is Leah Mach CPG, MSc.

The Report is available on the Company's Investor Relations website at

     Rio de Janeiro, February 27, 2008

     MMX Mineração e Metálicos S.A.

     Luiz Rodolfo Landim Machado
     Executive President and Investor Relations Officer

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