Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

November 25, 2010 08:00 ET

Plexmar Resources Inc./Malin Plant: EIA Approval, Start of Operations

QUEBEC CITY, QUEBEC--(Marketwire - Nov. 25, 2010) - Plexmar Resources Inc. (TSX VENTURE:PLE) is pleased to announce that the Joint Venture Company operating the Malin plant has received the resolution from the Regional Government of the La Libertad Department confirming the approval of the Environmental Impact Study. This resolution is the base requisite to fully start the operations at the Malin Plant, implying that all social permits have been obtained to operate the Malin Plant.

In December, the Malin plant will start processing ores coming from various sources. Plexmar signed a services contract on July 12, 2010 with Iimpul Peru S.A.C. to provide continuous feed to the Malin plant.

The Malin is being operated through a 50-50 joint venture with J&M Business SAC. The plant has an installed capacity of 100 tonnes per day to process gold ores and 100 tonnes per day to process copper sulphide ores. The full capacity is expected to be reached by Q2-2011. Production reports will be issued in 2011 on a quarterly basis.

Guy Bédard, P.Eng, president of the Company acted as a Qualified Person in the preparation of this release as defined by NI 43-101.

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.

PROFILE

Plexmar is a junior company focused on precious metals in Peru.

PROPERTIES

Gold: Peru: Oro Del Norte, Marilia, Bolsa Del Diablo

CORPORATE INFO

- 196 M shares outstanding

www.plexmar.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President
    418 658-6776 ext.107
    www.plexmar.com
    or
    Paradox Public Relations:
    866 460-0408 or 514 341-0408