Pediment Exploration Ltd.

Pediment Exploration Ltd.

December 19, 2006 11:48 ET

Pediment Exploration Ltd.: Trenching Completed at Daniel Gold Anomalies Continue to Expand

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 19, 2006) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FWB:P5E) is pleased to announce that the program of tractor and backhoe trenching has been completed on the Daniel project. The Daniel concessions are located west of Caborca, Sonora Mexico. Nine trenches were excavated to provide bedrock exposure within the main gold and arsenic in soil anomaly in the centre of the grid area known as the Coronela Mine area. East-west oriented trenches ranging in length from 136 to 485 metres were dug at 100 metre intervals within the anomaly area. Trench locations roughly correspond to existing gridlines, starting at line 209N in the south and ending at line 217N in the north. The map that accompanies this release shows the location of the trenches in relation to the grid and gold/arsenic anomalies. Seven of the trenches have been rock sampled so far and the remaining two should be completed shortly. Roughly 900 rock samples will be taken from the trenches during this program; several groups of samples have been sent to the lab and results will be reported when received.

Anomalies Extended.

As part of the current program, a number of soil lines and line extensions were added to the north and south in order to investigate anomalous values on the edges of the previous grid. Six lines were added at 100 metre intervals at the south end of the grid. Results from the new lines indicate an additional gold anomaly extends through the new lines and continues open to the south. The anomaly is roughly north-northwest oriented and aligned with the main Coronela anomaly where the trenching took place. Several lines were also added on the north and northwest part of the grid. Arsenic results have been received for all the new lines in this area; gold results are still pending for 4 lines. The arsenic results show a new 350 metre long anomaly in this area with the same orientation, but offset to the west.

The zones of anomalous soil geochemistry follow the mapped exposures and projected surface trace of one or more low angle thrust faults which are often the contact between dacitic volcanics and granodiorite porphyry on the Daniel concessions. This geological and structural environment in the Daniel concession is analogous to the La Herradura Mine and Noche Beuna deposit located 45 and 22 kilometers respectively to the northwest within the Mohave-Sonora Megashear.

Pediment's VP Exploration Mel Herdrick comments, "The gold and arsenic in soil anomalies have now been shown to have an overall strike extent of over 3.5 kilometres. This is a very large bulk tonnage target. If trench sample results demonstrate good gold grades in observed shear and vein zones, the Daniel concession will have the potential to contain a significant gold resource. Its gratifying to see how well the data received so far matches our exploration target and we eagerly anticipate the results of ongoing trench sampling."

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 million of working capital, and a main focus on precious metals exploration in northwestern Mexico. It currently has 10 fully owned projects. Pediment has expanded its pool of technical staff and consultants and is accelerating exploration on a number of projects. In addition to the Daniel trenching, assay results are expected from drilling at the Lista Blaca zone on the Caborca project and large scale geochemical surveys at the Colinas-Baja Sur project which will be reported when available. Induced Polarization surveys are ongoing at Baja Sur and work will begin at the new Pediment-Inmet Mining joint venture near Caborca after the New Year.

On Behalf of the board

Gary Freeman, President and CEO


Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation: Except for the statements of historical fact contained herein, the information presented contains "Forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and similar Canadian legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variation of such words and phrases that refer to certain actions, events or results to be taken, and other factors which may cause the actual results, performance or achievements of Pediment Exploration Ltd. To be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of reclamation activities, the estimation or realization of mineral reserves and resources, the timing and amount of estimated future production, costs of production, capital expenditures, future prices of commodities, possible variations in ore grade or recovery rates, efficacy and efficiency of milling process, failure of plant, equipments or processes to operate as anticipated, accidents, labour disputes and other risks in the mining industry. Although Pediment Exploration Ltd. has attempted to identify important factors that could cause actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained herein and in Pediment Exploration Ltd.'s other filing incorporated by reference.

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