Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

January 20, 2011 09:31 ET

Plexmar Resources Inc.: Malin Plant Update

QUEBEC CITY, QUEBEC--(Marketwire - Jan. 20, 2011) - Plexmar Resources Inc. (TSX VENTURE:PLE) is pleased to announce that the Joint Venture Company operating the Malin plant has officially began the milling operations on January 10th,2011. Initially the plant is processing 3,500 metric tonnes of silver (6,9 ozs/ton Ag) and antimony (5,8% Sb) ores at a rate of 60 to 70 tonnes per day (tpd).

Supply agreements are in place to provide up to 250 tpd of polymetallic ores. Due to the high local demand to process polymetallic ores, expansion work has started to increase the overall plant capacity. A 5' x 8' ball mill is currently being installed along with 8 additional flotation cells and will be operational in approximately 30 days. Following the expansion, the gold and silver leaching circuit capacity will operate at 70 tpd and the polymetallic flotation circuit at 120 - 150 tpd. This additional ball mill will allow the gold and polymetallic circuits to operate independently.

Gold ores are currently being stockpiled. The gold circuit will begin its continuous operation once the additional ball mill is operational in mid-February.

The Malin plant is being operated through a 50-50 joint venture with J&M Business SAC.

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

213 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
    or
    Paradox Public Relations
    866-460-0408
    514-341-0408