EXMIN Resources Inc.
TSX VENTURE : EXM

EXMIN Resources Inc.

March 12, 2008 12:07 ET

Moris Mine Update, EXMIN-Hochschild Joint Venture, Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2008) - EXMIN Resources Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to provide an update of the Moris Mine. The mine was refurbished and put into production by EXMIN's partner, Hochschild Mining Group, Plc. (LSE:HOC)(Hochschild), within ten months of its acquisition, and produced 5,580 ounces of gold and 13,000 ounces of silver in the last three and one half months of 2007. The realized price of sales for gold was in excess of $800 an ounce. The mine is projected to produce a total of about 25,000 ounces of gold and about 60,000 ounces of silver in 2008.

"Hochschild did an excellent job in getting the Moris Mine up and running," said Karl Boltz, President and CEO of EXMIN. "After the usual problems and relatively high costs that are associated with initial startup, Hochschild began a streamlining process to bring production costs to about US$ 13-14 per ton. The mine is fully funded and has been operationally profitable since the beginning of 2008. Current high precious metals prices have been an additional boost for the operation."

Hochschild has informed EXMIN that, by drilling 634 metres of core at the Eureka deposit, it has confirmed the historical resource data. Also, Hochschild drilled 335 metres on the old heap leach pad and believes that a significant potential resource exists and can be added by re-processing the original heap material. Please see www.hochschildmining.com for additional details. Current reserve and resource calculations do not include any potential ounces contained in the old leach pad material. The joint venture continues to drill and explore the potential of the surrounding 9,889 hectares included in the Moris Mine project land package.

About the Moris Mine

The Moris Mine, located approximately 15 km due west of Ocampo and 35 km south of Mulatos, is a 3,000 ton per day heap leach operation that employs approximately 200 people on a continuing basis, many of which are from the local community. The Moris Mine was acquired in December, 2006, and is a joint venture between EXMIN (30%) and Hochschild (70%) (see EXMIN News Release of July 18, 2006). Hochschild is the operator of the mine. Please see EXMIN's NR 43-101 report on the Moris Mine project as posted on SEDAR.



TABLE 1 - 2007 Moris Mine Production Totals
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Year ended 31 December 2007
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Ore production (tonnes) 338,304
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Average head grade silver (g/t) 4.69
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Average head grade gold (g/t) 1.65
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Silver ounces produced 13,000
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Gold ounces produced 5,580
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Net silver ounces sold (i) 6,000(i)
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Net gold ounces sold (i) 3,260(i)
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(i)Total ounces of gold and silver sold include 2,800 Au oz and 4,500 Ag
oz that were produced during the construction phase of the plant and have
been recorded as a reduction to the capitalized cost of the plant.


TABLE 2 - 2007 Moris Mine Exploration
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Stated on an EXMIN attributable basis 31 December 2007
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Resources 1.044 mt @ 5 g/t Ag & 1.33 gt/ Au
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Resource Au/Ag oz 44,641 Au oz / 167,824 Ag oz
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Reserves 0.759 mt @ 5 g/t Ag 1.50 gt/ Au
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Reserve Au/Ag oz 36,603 Au oz / 122,010 Ag oz
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Note: The above Table 2 contains only the percentage of reserves or resources attributable to EXMIN's 30% ownership in the Moris Mine project; resources are inclusive of reserves; reserves and resources are reported by Hochschild Mining Group, Plc., according to the JORC code developed by the Australasian Joint Ore Reserves Committee.

Quality Assurance

Hochschild completes its exploration programs and resource calculations under the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code).

Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration, is the authorized professional geologist for EXMIN Resources Inc. and the direct manager of all technical programs and information on the part of EXMIN.

Neither EXMIN's joint venture partner, Minera Hochschild Mexico, nor Hochschild Mining Group Plc., or any of its subsidiaries, accept any responsibility for the use of project data or the adequacy or accuracy of this release.

About Hochschild

Minera Hochschild Mexico (MHM) is a subsidiary of Hochschild Mining plc (HOC.L for Reuters / HOC LN for Bloomberg), a publicly held company listed on the London Stock Exchange. Hochschild is a leading precious metals company with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild currently operates five underground epithermal vein mines, four located in southern Peru and one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has one early stage development project in Mexico and over 15 long-term prospects throughout Latin America. Hochschild has over forty years experience in the mining of precious metal epithermal vein deposits. For further information please visit www.hochschildmining.com.

About EXMIN

EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico as well as in other highly mineralized areas of Mexico.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

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

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    1-866-49-EXMIN
    or
    EXMIN Resources Inc.
    Investor Relations
    1-866-49-EXMIN
    Email: info@exmin.com
    Website: www.exmin.com