Pediment Exploration Ltd.

Pediment Exploration Ltd.

November 14, 2006 13:13 ET

Pediment Exploration Ltd.: Trenching of Soil Sample Gold Targets Begins at Daniel

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FRANKFURT:P5E) is pleased to report an extensive program of mechanical trenching has begun at the Daniel project in Sonora State, Mexico. Trenching will follow-up the highly successful initial grid soil sampling program (see our October 10, 2006 news release). Soil sampling revealed a large gold in soil anomaly measuring 300 metres by 1,000 metres, oriented in a north-northwest direction with an additional 500 metre "arm" striking to the northeast from the center of the anomaly. The main anomaly is centered on the 100 plus year old Coronela gold mine area where sampling of old test pits returned grades up to 9.69 g/t gold and 31.2 g/t silver over three metres. The most highly anomalous gold values on the main soil grid roughly follow the interpreted thrust contact between intrusive and volcanic rocks as well as crosscutting vertical structures that are thought to be feeders for the gold system.

Soil sampling continued over the past three weeks prior to trenching, adding additional lines to the grid to tighten up targeting and to extend and close off portions of the soil anomaly in the northeast and southern portion of the main grid. Results received to date from new southern lines indicate areas of anomalous gold and arsenic values close to the old "Sierrita" workings where reconnaissance sampling of an old adit on a one meter vein returned 19.55 g/t gold and 31.7 g/t silver.

Additionally, lines have been added to the "North Grid" which is offset to the west from the main grid to follow the thrust contact. The last sample located at the northeastern corner of this grid showed 1770 ppb gold in hematitic soil. Lines have been added as well as extended eastward in this area to determine the size of the anomaly. This area known as the old "Morita Ranch area" has workings which follow high angle veins rather than the shallowly dipping thrust fault veins as seen at Coronela and Sierrita.

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 aligned 45 and 22 km to the northwest of the Daniel project respectively. La Herradura, operated by a Newmont/Penoles joint venture, produces over 250,000 ounces of gold per year and is one of Newmont's lowest cost mines.

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 $4.5million of working capital, and a main focus on precious metals exploration in western Mexico. It currently has 10 fully owned projects. Pediment has recently greatly expanded its pool of technical staff and consultants and is accelerating exploration on a number of projects. Results are expected shortly from drilling at the Caborca project and large scale geochemical surveys at the Colinas project and will be reported on when available.

On Behalf of the board

Gary Freeman, President and CEO

Contact Information

  • Pediment Exploration Ltd.
    Gary Freeman
    President and CEO
    (604) 682-4418
    (604) 683-6557 (FAX)
    Skyline Investor Relations
    (604) 733-3356 or 1.866.433.3356