Pediment Exploration Ltd.
TSX VENTURE : PEZ
FRANKFURT : P5E
OTC Bulletin Board : PEZFF

Pediment Exploration Ltd.

June 19, 2008 09:32 ET

Pediment Exploration Ltd.: Los Planes Returns 13.7 m of 16.3 g/t Gold, and 22.9 m of 8.5 g/t Gold in New Drill Holes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2008) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(OTCBB:PEZFF)(FRANKFURT:P5E) is pleased to report in-fill testing has expanded one of the Los Planes deposit's higher grade areas of mineralization in the core portion of the deposit. Testing on the southern and south-eastern flanks of the deposit has also generated good results for both shallow oxide and deeper sulphide based mineralization.

In the central core of the deposit, testing around drill hole PLRC-20 (33.5 m of 3.3 g/t and 85.3 m of 1.4 g/t gold, see release dated October 3rd, 2007) has returned additional higher grade intersections. Drill hole PLRC-103, collared about 50 metres west of PLRC-20 has returned 47.2 m of 4.86 g/t gold, including 22.9 m of 8.54 g/t gold in mixed material, and PLRC-105 collared approximately 20 metres south of PLRC-20 has returned 76.2 m of 3.58 g/t, including 13.7 m of 16.28 g/t gold in sulphide material.

New results from the southern end of the deposit indicate thick sections of good grade material, with up to 96 metres of 1.61 g/t gold in mixed material from RC-98. Broad sections of good grade have also been intercepted further south, with 35 metres of 0.67 g/t in oxide material followed by 19.8 of 1.24 g/t gold in mixed material in PLRC-94, indicating Los Planes deposit remains open to extension in this direction.



Los Planes Deposit, Central Core Area
----------------------------------------------------------------------------
Hole Northing Easting Oriented From To Length Grade Notes
PLRC metres metres metres g/t Au
----------------------------------------------------------------------------
Oxide
(i)20 2,639,791.40 598,650.04 vertical 20.4 54.0 33.5 3.29 zone
----------------------------------------------------------------------------
Oxide
includes 32.6 38.7 6.1 15.14 zone
----------------------------------------------------------------------------
Oxide
and 61.6 79.9 18.3 1.119 zone
----------------------------------------------------------------------------
and 87.5 172.8 85.3 1.371 Mixed
----------------------------------------------------------------------------

----------------------------------------------------------------------------
103 2,639,790.47 598,598.04 vertical 28.4 31.4 3.1 0.71 Oxide
----------------------------------------------------------------------------
and 37.5 46.2 9.1 0.83 Oxide
----------------------------------------------------------------------------
and 54.3 63.4 9.1 0.52 Oxide
----------------------------------------------------------------------------
and 71.0 118.3 47.2 4.86 Mixed
----------------------------------------------------------------------------
includes 74.1 96.9 22.9 8.54
----------------------------------------------------------------------------
and 122.8 150.3 27.4 0.66 Sulphide
----------------------------------------------------------------------------
and 156.4 196.0 39.6 2.20 Sulphide
----------------------------------------------------------------------------
includes 164.0 165.5 1.5 8.75
----------------------------------------------------------------------------
includes 176.2 177.7 1.5 7.09
----------------------------------------------------------------------------

----------------------------------------------------------------------------
104 2,639,845.63 598,694.81 vertical 33.8 47.6 13.7 0.89 Oxide
----------------------------------------------------------------------------
5 oxide zones aggregate 35 metres of 0.7 g/t gold from 33.8 to 99.4 m
----------------------------------------------------------------------------
and 113.1 129.8 16.8 3.46 Sulphide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
105 2,639,772.00 598,650.83 vertical 12.8 28.0 15.2 0.87 Oxide
----------------------------------------------------------------------------
and 37.2 46.3 9.1 0.70 Oxide
----------------------------------------------------------------------------
and 61.6 81.4 19.8 0.81 Oxide
----------------------------------------------------------------------------
and 95.1 171.3 76.2 3.58 Sulphide
----------------------------------------------------------------------------
includes 153.0 166.7 13.7 16.28
----------------------------------------------------------------------------

----------------------------------------------------------------------------
106 2,639,772.65 598,676.14 vertical 18.9 34.1 15.2 1.07 Oxide
----------------------------------------------------------------------------
and 44.8 64.6 19.8 0.68 Oxide
----------------------------------------------------------------------------
and 75.3 127.1 51.8 1.25 Mixed
----------------------------------------------------------------------------
includes 119.5 124.1 4.6 4.57 Sulphide
----------------------------------------------------------------------------
(i)previously reported RC-20 is included for reference.
"From", "To" and "Length" figures may not reduce to 0 due to rounding.



Los Planes, Southern Deposit Area, highlights
----------------------------------------------------------------------------
Hole # Northing Easting Oriented From To Length Grade Notes
PLRC metres metres metres g/t Au
----------------------------------------------------------------------------
-60
degrees
94 2,639,400.34 598,651.10 East 19.9 54.0 35.1 0.67 Oxide
----------------------------------------------------------------------------
and 61.6 81.4 19.8 1.24 Mixed
----------------------------------------------------------------------------
includes 73.7 75.3 1.5 5.37 Sulphide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
-78
degrees
97 2,639,617.92 598,673.67 East 26.7 110.5 83.8 1.25 Mixed
----------------------------------------------------------------------------
includes 40.4 41.9 1.5 4.36 Oxide
----------------------------------------------------------------------------
Includes 58.7 60.2 1.5 5.26 Mixed
----------------------------------------------------------------------------

----------------------------------------------------------------------------
98 2,639,617.85 598,671.71 vertical 36.9 132.9 96.0 1.61 Mixed
----------------------------------------------------------------------------
includes 36.9 38.4 1.5 3.58 Oxide
----------------------------------------------------------------------------
includes 87.2 111.6 24.4 3.05 Sulphide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
"From", "To" and "Length" figures may not reduce to 0 due to rounding.


In addition to the above noted, results have been received for PLRC- 93, 95, 96 and 99 from the southern area. All of these drill holes contain at least one intersection of 10 to 18 metres averaging between 0.63 and 0.94 g/t gold in oxidized mineralization that will be included in future resource calculations. More detailed results for these holes will be posted to the Company's web site, http://www.pedimentexploration.com/s/Home.asp.

Mel Herdrick, VP Exploration and a Director of the Company, is a Qualified Person as defined by NI 43-101 and has reviewed and approved this release.

Pediment Exploration is a precious metals exploration and development company working in western Mexico on two key projects, La Colorada in Sonora and The San Antonio Gold Project in Baja California Sur, as well reconnaissance programs. The Company is well capitalized with more than $20 Million in the bank and no debt.

On behalf of the board

Gary Freeman, President & CEO

We Seek Safe Harbour.

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 27E of the U.S. Securities Exchange Act of 1934, as amended regarding the results of in-fill testing at Los Planes. Such statements include, without limitation, statements regarding the timing of future exploration activities by the Company, future anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans, potential mining scenarios, the success of mineral processing procedures, business trends and future operating costs and revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, and the U.S. Securities and Exchange Commission's Electronic Data Gathering and Retrieval (EDGAR) System at www.sec.gov, for a more complete discussion of such risk factors and their potential effects.

This press release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises that the U.S. Securities and Exchange Commission's mining guidelines prohibit information of this type in reports filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such adjacent or similar properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

All of the Company's public disclosure filings may be accessed via www.sedar.com and www.sec.gov, and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities.

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

Contact Information

  • Pediment Exploration Ltd.
    Gary Freeman
    President & CEO
    (604) 682-4418
    or
    Pediment Exploration Ltd.
    Michael Rapsch
    (604) 682-4418
    (604) 669-0384 (FAX)
    Website: www.pedimentexploration.com