Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

October 31, 2006 13:45 ET

Plexmar Resources Inc./Bolsa Del Diablo: Airborne Survey and Sampling Results

SAINTE-FOY, QUEBEC--(CCNMatthews - Oct. 31, 2006) - Plexmar Resources Inc. (TSX VENTURE:PLE), is pleased to announce results from the airborne magnetic and radiometric survey and on-going sampling from the Bolsa del Diablo project.

The 2,100 line-km survey was flown to collect magnetic and radiometric data over the 220 km2 Bolsa del Diablo project. The data analysis has provided valuable structural information, has outlined numerous magnetic anomalies that may represent intrusive bodies and potassic soil anomalies. Within the core Bolsa Del Diablo area, on the Angolos concession, a large magnetic and potassic anomaly, measuring approximately 2.5km x 2.8km, is spatially coincident with the

mapped altered intrusive body located within a larger alteration package hosting the vein type gold mineralization being mined by the artisans.

Preliminary alteration mapping using the PIMA technique (Portable Infrared Mineral Analyser) has identified the presence of alunite, which is a potassium rich hydrothermal alteration mineral. The alunite was identified within silicified hydrothermal breccias that surround the known intrusive. Anomalous potassium radiation has also been identified coincident to and surrounding the intrusive body. Since alunite is a potassium rich mineral, it is believed that an alteration facies specifically related with gold has been detected. Plexmar is excited by these results, as it implies that other areas identified with similar results within the 220 km2 property represent new exploration targets. Please refer to www.plexmar.com for maps.

"We are excited by these results as it confirms that the intrusive body has a geophysical signature and that the alteration system is kilometric in size. It really opens the possibility to find similar systems elsewhere on this 220km2 property." Says Guy Bedard, president.

A number of drill targets have already been identified and more will be added when the IP ground survey is completed.

On Bolsa del Diablo, the best results from on-going samples are tabulated below. In total 37 samples were collected from the Angolos concession in vein type rocks. The best samples returned values of 89.2 g/t Au in the veins (channel sample). Channel samples in the pits were collected vertically every metre. The following samples were taken from shallow pits near the north boundary of the Angolos concession, some 2 km from the principal vein, where artisan miners have recently uncovered new vein type structures. Pits 1,2 and 3 are located 30 metres from each other.



Sample No. Grade g/t Type Comments
Au Ag

4 meter deep PIT no.1

PBD-040 VN 14.75 13.8 Channel sample in pit.vein filled with
qtz in white intrusive with
stockwork and heavy argilic
alteration.
PBD-040AVN 15.20 13.1 Channel sample in pit at 0.5m. qtz
filled vein with oxides in
intrusive with stockwork and
advanced argilic alteration



Sample No. Grade g/t Type Comments
Au Ag

PBD-040BVN 34.30 9.20 Channel sample at 1.0m. qtz filled vein
with oxides in intrusive with
stockwork and advanced argilic
alteration, sericite, kaolinite and
alunite
PBD-040CVN 58.2 14.3 Channel sample at 2.0m. qtz filled vein
with oxides in intrusive with
stockwork and advanced argilic
alteration, sericite, kaolinite and
alunite .
PBD-040DVN 54.2 12.5 Channel sample at 3.0m. qtz filled vein
with oxides in intrusive with
stockwork and advanced argilic
alteration, sericite, kaolinite and
alunite
PBD-040EVN 60.6 12.2 Channel sample at 4.0m. qtz filled vein with
oxides in intrusive with stockwork
and advanced argilic alteration,
sericite, kaolinite and alunite

5 meter deep PIT no.2

PBD-041AVN 53.0 13.6 Channel sample at 1.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration.
PBD-041BVN 44.7 1.6 Channel sample at 2.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration
PBD-041CVN 39.1 10.0 Channel sample at 3.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration
PBD-041DVN 40.3 8.9 Channel sample at 4.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration
PBD-041EVN 38.5 5.0 Channel sample at 5.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration
PBD-041FVN 42.9 7.9 Channel sample at 5.0m. qtz filled vein.
with oxides in intrusive with
stockwork and pervasive argilic
alteration

4 meter deep PIT no.3

PBD-045AVN 47.8 6.3 Channel sample at 1.0m. qtz filled vein.
with oxides with microfractures
filled with hematite + silica
PBD-045BVN 47.2 6.6 Channel sample at 1.0m. qtz filled vein.
with oxides with microfractures
filled with hematite + silica
PBD-045CVN 38.9 4.8 Channel sample at 1.0m. qtz filled vein.
with oxides with microfractures
filled with hematite + silica
PBD-045DVN 38.6 5.1 Channel sample at 1.0m. qtz filled vein.
with oxides with microfractures
filled with hematite + silica
PBD-045EVN 47.3 9.8 Channel sample at 1.0m. qtz filled vein.
with oxides with microfractures
filled with hematite + silica

Other Samples

PBD-042VN 89.2 16.5 Channel Qtz vein filled with oxides in
intrusive with stockwork and
advanced argilic alteration,
sericite, kaolinite and alunite
PBD-042AVN 26.10 15.0 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-042BVN 72.2 20.0 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-046AVN 19.8 4.1 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-046BVN 12.35 3.3 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-047AVN 2.73 0.5 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-047BVN 1.27 0.8 Composite Qtz filled vein with oxides in
volcanoclastic propilitic unit
PBD-048AVN 20.90 9.3 Channel Qtz vein with pxydes highly
silicifed with cavities
PBD-048BVN 16.95 12.8 Channel Qtz vein with pxydes highly
silicifed with cavities


All samples are analyzed by ALS Chemex in Lima. Guy B dard, president, acted as the QP for the preparation of this news release.

On Bolsa del Diablo

Plexmar controls over 220 km2 of land in Northern Peru near the border with Ecuador. Over 400 artisan miners are pulling gold on a daily basis from trenches or pits located in an area measuring approximately 6km2 roughly centered within Plexmar's main claim block. The zone is characterized by low to intense silica and clay hydrothermal alteration. All the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places on the property.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President
    418-658-6776
    www.plexmar.com
    or
    Paradox Public Relations
    1-514-341-0408
    1-866-460-0408