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

Pediment Exploration Ltd.

June 16, 2008 10:46 ET

Pediment Exploration Ltd.: Preliminary San Antonio Resource Estimate Totals 1.45 Million Inferred Gold Ounces

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2008) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(OTCBB:PEZFF)(FRANKFURT:P5E) has received a preliminary mineral resource estimation for its 100% owned San Antonio gold project in Baja California Sur, Mexico. This study was completed by the firm of Derry, Michener, Booth & Wahl Consultants Ltd. (DMBW) under the supervision of Ian Thompson, P.Eng., and the resource estimate conducted under sub-contract to DMBW by David Laudrum, P.Geo. of Ashloo Consulting. This mineral resource estimate is compliant with the requirements of National Instrument policy 43-101. A report dealing with it and other aspects of the project will be filed once it is completed.

This initial estimate is based upon available results from testing completed prior to the end of 2007 and that fall within modeled parameters used in the study. Results from testing done since then, and any pertinent results from earlier testing that are currently outside the modeled parameters, will be incorporated in follow-up studies using an expanded base of results to better qualify the mineral resource. A total of more than 130 reverse circulation (RC) drill holes have been completed by Pediment to date, of which 75 were available for this study. An additional total of 36 core drill holes, including those on reconnaissance targets, have been completed by Pediment, and 17 of these were available for this study.



Los Planes Deposit Mineral Resource Estimate(1)(2)(3)
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Los Planes Deposit - Mineral Resource Estimate
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CUT-OF GRADE ROCK GROUP(4) TONNES GRADE GOLD OUNCES
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g/t Au Millions g/t Au Millions
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0.3 g/t Au Oxidized 11.30 1.12 0.41
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Sulphide 20.97 1.35 0.91
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Total 32.27 1.27 1.32
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0.4 g/t Au Oxidized 10.54 1.18 0.40
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Sulphide 20.04 1.40 0.90
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Total 30.58 1.32 1.30
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0.7 g/t Au Oxidized 7.31 1.45 0.34
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Sulphide 14.86 1.69 0.81
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Total 22.17 1.61 1.15
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1.0 g/t Au Oxidized 4.67 1.80 0.27
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Sulphide 10.33 2.07 0.69
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Total 14.99 1.99 0.96
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(1) It cannot be assumed that all or any part of an Inferred Mineral
Resource will be upgraded to an Indicated or Measured Mineral
Resource as a result of continued exploration.
(2) Mineral resources which are not mineral reserves do not have
demonstrated economic viability.
(3) Numbers may not add up, due to rounding.
(4) 'Oxidized' refers here to rock affected by oxidation including
weak-moderate-strong intensities.


For Los Planes this study incorporates results defining only two sub-parallel zones constituting the main portion of the deposit. A total of five (5) RC drill holes completed by Echo Bay Mines in 1997, three (3) shallow core holes completed by Pediment in 2006, and 64 RC drill holes completed by Pediment in 2007 were used to generate the current resource estimate. Based on methodology described below, DMBW has used a 0.4 g/t cut-off grade to estimate an Inferred Mineral Resource for the Los Planes deposit of 30.58 million tonnes at an average grade of 1.32 g/t Au, for 1.30 million contained gold ounces.



Las Colinas Deposit Mineral Resource Estimate(1)(2)(3)
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Las Colinas Deposit - Mineral Resource Estimate
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CUT-OF GRADE ROCK GROUP(4) TONNES GRADE CONTAINED GOLD
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g/t Au Millions g/t Au Millions of oz
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0.3 g/t Au Oxidized 0.38 0.90 0.011
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Sulphide 5.39 0.81 0.141
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Total 5.77 0.82 0.152
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0.4 g/t Au Oxidized 0.37 0.92 0.011
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Sulphide 5.25 0.83 0.139
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Total 5.62 0.83 0.150
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0.7 g/t Au Oxidized 0.27 1.03 0.009
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Sulphide 3.46 0.96 0.107
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Total 3.73 0.97 0.116
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1.0 g/t Au Oxidized 0.13 1.24 0.005
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Sulphide 1.13 1.18 0.043
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Total 1.26 1.19 0.048
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(1) It cannot be assumed that all or any part of an Inferred Mineral
Resource will be upgraded to an Indicated or Measured Mineral
Resource as a result of continued exploration.
(2) Mineral resources which are not mineral reserves do not have
demonstrated economic viability.
(3) Numbers may not add up, due to rounding.
(4) 'Oxidized' refers here to rock affected by oxidation including
weak-moderate-strong intensities.


For the Colinas resource estimate this study incorporates results from a total of 14 RC drill holes completed by Echo Bay Minerals in 1996-97 and five (5) core holes completed by Pediment in 2007. The estimate does not include results from surface trenches completed by either Echo Bay or Pediment, nor a small portion of the Echo Bay estimate (approximately 15%) contained by a third party concession, nor an extension of the resource to depth incorporated in a historic resource estimate for Colinas made public in 1998. DMBW has used a 0.4 g/t cut-off grade to estimate an Inferred Mineral Resource for the Las Colinas deposit of 5.62 million tonnes at an average grade of 0.83 g/t Au, for 150,000 contained gold ounces.

Pediment recently completed a series of shallow core holes to test the oxidized near surface portion of Colinas to better define the oxide portion of the resource, which currently is poorly constrained.

The mineral resource estimates were generated in Gemcom software by using data from the drill holes to generate "polylines" on east-west oriented cross sections spaced 25 metres apart, and the polylines then linked to generate a series of 3D solids ("wireframes") of the mineralized domains. The boundaries of the zones were modeled using composite assay grades of greater than 0.3 g/t gold and with reference to structural deformation logged in the drill holes, plus the logged base of the overburden. The selected samples were composited to regular 2 metre intervals. Measured average specific gravities of 2.6 for oxidized material and of 2.7 for sulphide material were used. Assays of greater than 30 g/t were capped at 30 g/t gold. The methodology and conclusions of the study will be further outlined in the report being prepared by DMBW.

Pediment is currently awaiting the results for preliminary metallurgical testing from nine (9) composite samples of RC material that have been sent to SGS Mineral Services in Durango Mexico. These results will be followed up by metallurgical sampling using a core drill rig. In addition to completing sufficient testing to better qualify the Los Planes and Las Colinas resources in order to generate a Preliminary Economic Assessment of the project, the company is continuing its program of reconnaissance exploration and targeting along the San Antonio Gold trend that is still largely untested within Pediment's holdings.

Mel Herdrick, the company's VP Exploration, states, "The work to date has been very successful in establishing this preliminary resource estimate within a year of our discovery testing. We look forward to both expansion potential in our current testing, and to further testing along the balance of the trend. Future drilling, in addition to both expanding and refining the known mineralized bodies, will test other target areas identified by the latest IP survey. The company expects to release additional drill results from the project soon."

Mel Herdrick, a Qualified Person as defined NI 43-101, 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 as 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 preliminary resource estimate. 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
    (604) 682-4418
    or
    Pediment Exploration Ltd.
    Michael Rapsch
    (604) 682-4418
    (604) 669-0384 (FAX)
    Website: www.pedimentexploration.com