SOURCE: MMX Mineracao e Metalicos S.A.

MMX Mineracao e Metalicos S.A.

June 17, 2009 18:12 ET

MMX Informs Serra Azul's Mineral Resources Technical Report Update: Resources Increased by 46%

RIO DE JANEIRO, BRAZIL--(Marketwire - June 17, 2009) - MMX Mineração e Metálicos S.A. (Bovespa: MMXM3) hereby informs its shareholders and the market in general that the Technical Report of Serra Azul's mineral resources, which includes AVG and Minerminas assets, has been updated according to the National Instrument NI-43.101 of the Canadian Securities Administrators (CSA). The norm NI-43.101 presents specific technical procedures to assess mineral reserves and resources, according to the best practices and techniques related to mineral research, internationally recognized.

The Technical Report was prepared by SRK Consulting, a certifying company specialized in geology and mining, in accordance to the standards established by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Standards).

The report has been updated with the main purpose of including data related to 2,803 meters of reverse circulation drilling, which has been concluded in April 2009 and added material information to the geologic block model.

The amount of measured, indicated and inferred resources released in March 2009, which had totaled 515 million tons, has been revised to 754 million tons, adding 239 million tons to Serra Azul's total resources, an increase of 46.4% when compared to the resources previously reported.

The evolution of total resources and reserves of Serra Azul is presented on the table below:

Classification         Resources (Million tons)   Resources (Million tons)
                             March 2009                  June 2009
--------------------------------------------------------------------------
Measured                        108                         332
Indicated                       273                         400
Measured and Indicated          381                         732
Inferred                        134                          22

(*) Tons reported on a wet basis.

Additionally, potential resources were estimated in the range of 140 up to 840 million tons, in line with the previously reported potential.

The Report is available at the Company's Investor Relations website at www.mmx.com.br/ir.

Contact Information

  • Contact:
    MMX Mineração e Metálicos S.A.

    Chequer Hanna Bou Habib
    Investor Relations Officer

    Priscylla Setimi
    Investor Relations
    Tel.: (55 21) 2555-5558