Plexmar Resources Inc.

Plexmar Resources Inc.

June 14, 2007 09:52 ET

Plexmar Resources/Escondida III and IV: Over 10 g/t Gold and 100 g/t Silver

SAINTE-FOY, QUEBEC--(Marketwire - June 14, 2007) - Plexmar Resources (TSX VENTURE:PLE) wishes to inform its shareholders of recent results from its work program on its Escondida project, Ecuador.

In April and beginning of May, follow-up work was conducted on the Escondida III and IV concessions where a volcanic environment was recently recognized. These concessions are located near Yantzaza, SE Ecuador, and are part of the Central Block of Concessions of the Escondida Project. They are adjacent to the Aurelian Resources concessions and approximately 20 kilometres west of their Fruta del Norte gold deposit.

Four stream sediment sampling crews have taken a total of 212 stream sediment samples, with the aim of covering the concessions with a sampling nominal density of 1.5 sample per square kilometre. Prospecting was also done along the access paths used to reach the stream sediment sample points. 42 rock samples were taken, consisting mostly of grab and chip samples. All these samples have been sent to the ALS Chemex facilities in Quito; gold and other metal assay results are expected in the near future.

Results from the December and March field campaigns have been compiled and cover large parts of Escondida III and IV. Anomalous stream sediments assays show 10 samples above 0.1g/t Au. The average mean value of samples above the anomalous threshold of 0.1g/t is 0.35g/t, with a maximum value of 1.195 g/t Au. However, 8 of these samples are located in an anomalous area measuring 3 x 4 km located on the Escondida IV concession. Stream sediments compilation also identified an anomalous Silver cluster (all 4 values over 1g/t are located in the area), with low but anomalous values of Arsenic and bismuth bordering the area.

Preliminary prospecting along stream sediments traverses has revealed anomalous grab samples in three different locations, all located in the anomalous area. So far, all available assays from samples taken from these three locations are detailed in the following table:

Au Ag
Loca- Sample Descrip- ppm ppm As Bi Cu Pb Zn
tion number Type tion (g/t) (g/t) ppm ppm ppm ppm ppm
1 340068 grab Quartz greater 1.8 7 6 266 543 165
vein than 10
1 340067 grab Host 0.033 0.3 5 less 5 less 119
rock than 2 than 2
2 340408 grab Quartz greater greater 58 19 1190 greater 161
vein than 10 than than 1%
w/ iron 100
2 340135 grab Quartz 0.55 greater 52 208 greater 1300 845
vein than than 1%
w/ iron 100
3 340123 grab Quartz 0.51 greater 74 146 greater 1710 120
vein than than 1%

Final values for samples grading over 10 g/t Au and 100 g/t Ag will be known shortly.

Additionally, unusual geological features have been found in the anomalous area:

- Fine disseminated pyrite (5 to 10%) in various volcanic exposures,

- A carbonate body (travertine?) very likely not to be sedimentary in nature, near one of the above mentioned location site.

In June, the work program is expected to include more sampling and mapping on the 3 x 4km anomalous zone and the continuation of the stream sediment survey/prospecting on other concessions of Escondida's Central Block of concessions.

The Escondida project represents one of the largest land positions in the Cordillera del Condor near Aurelian Resources' Fruta del Norte gold discovery. The project covers 84,110 hectares (841.1 km2) and borders Aurelian's large land package on the western flank and north of Corriente Resources claims. Namely, the northern block covers 28.5 Km of the contact between the Zamora batholith and the Misahualli volcanic formation. (See map on Fruta del Norte is believed to be the most significant gold discovery made by a junior miner in over a decade.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. M. Stephane Amireault, P. Eng., is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

128 M shares outstanding

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    Paradox Public Relations