Pediment Exploration Ltd.

Pediment Exploration Ltd.

October 10, 2006 16:30 ET

Pediment Exploration Ltd.: Target Expansion at Daniel Gold Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 10, 2006) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FWB:P5E) is pleased to report progress on the Daniel gold project in Sonora State, Mexico, from which results of an initial 318 soil-sample program have been received.

A soil sample grid with 50-metre spaced samples taken along east-west lines of 100 to 200 metres separation was completed over an area of more than 2 square km centered on the Coronela showings. The main anomaly, defined by results of +40 ppb gold, indicates a northwest oriented area of 1000 by 300 metres. Narrow, structurally related "arms" extend for an additional 500 metres to the northeast from the main anomaly. Near old prospect pits at Coronela, a value of 259 ppb gold was obtained near where rock sampling previously returned values of up to 9.69 g/t gold and 31.2 g/t silver over 3 metres in one pit. Located an additional 300 metres NW of those pits, anomalous results including a 914 ppb gold soil value were obtained adding to the strike length of the Coronela gold anomaly. A low-level arsenic anomaly ranging from 20 ppm to 110 ppm is coincident with the above described gold anomaly.

A thrust fault forms the contact between granitic intrusive and Jurassic dacitic volcanics in the prospect area. This contact contains areas of brecciation and silicification with related gold mineralization. The gold-in-soils anomaly is also partly coincident with areas of quartz veinlets within the granite intrusive near its contact with dacite volcanics. A trenching program to explore bedrock in the gold anomalous areas at Daniel will commence as soon as a pending group of soil-sample analyses are received from the laboratory. Samples were taken from 5 to15 centimeters of depth in soil, located by hand held GPS and transported to the ALS Chemex preparation facilities in Hermosillo. Multi-element analysis was performed on a screened fraction of the samples using ICP mass spectrometer by ALS Chemex in its North Vancouver laboratory.

To view the soil sample map please click in the link below:

The Daniel project is located within the regional Mojave-Sonora Megashear trend hosting gold mines and deposits that include the La Herradura Mine and the Noche Buena deposit located to the northwest of the Daniel project 45 and 22 km respectively. Northwestern Mexico is seeing numerous mineral deposits advancing to production with as many as six having started in the past year.

Gary Freeman, the company President, states: "We are pleased with the progress to date at Daniel and are very excited with the high-quality gold anomalies close to other gold deposits. We are also expecting the first of the assays from the drilling program at the Lista Blanca zone of the Caborca copper-gold project. With moderating temperatures, the main work season in Sonora has begun, and we expect to see greater levels of exploration work in the region."

Pediment's work programs have resulted in more than 4000 soil samples taken in the past 6 months with the bulk of the sampling being completed over a 5 km extension of the trend that hosts the company's Las Colinas gold deposit in Baja California Sur. In addition, Pediment has an ongoing drill program at the Caborca project. Analytical results are pending from many of the samples.

Pediment's exploration programs are conducted under the direction of geologist Melvin Herdrick, MSc (Registered Professional, Washington State), who is a qualified person within the definition of National Instrument 43-101 and who reviewed the contents of this release.

Pediment Exploration is a well financed, aggressive exploration company with approximately $4.5 million of working capital, and a main focus on precious metals exploration in western Mexico. It currently has 10 fully owned projects.

Gary Freeman, President and CEO

Contact Information

  • Pediment Exploration Ltd.
    Gary Freeman
    (604) 682-4418
    (604) 683-6557 (FAX)
    Skyline Investor Relations
    (604) 733-3356 or 1-866-433-3356