Plexmar Resources Inc.

Plexmar Resources Inc.

April 17, 2007 09:16 ET

Plexmar Resources Inc.: Mining in Northern Peru

SAINTE-FOY, QUEBEC--(CCNMatthews - April 17, 2007) - Plexmar Resources (TSX VENTURE:PLE) wishes to inform its shareholders of recent articles that were published in newspapers from Peru.

The President, M. Alan Garcia, the Minister of Mines and its vice-minister were in Piura last week and publicly stated that their government will promote mining in Northern Peru and intends to help formalize all informal mining. They said that private investment is welcomed as long as it contributes to the economic development, gives locals employment, does not interfere with agriculture and respects the environment. The president told reporters that in many countries mining coexists with agriculture and mining is a major economic engine that creates jobs and leave sustainable developments. The vice minister said artisan miners must formalize themselves and follow the mining laws.

The management is pleased that to see that Government is promoting mining investment in the North and will help formalize the informal mining taking place on our concessions. Plexmar wants to help develop the area and maximize the benefits for the local communities.

Plexmar is committed to the area and wants to explore its vast concessions in a socially and environmentally responsible way. Plexmar is already investing in local social programs, supporting local schools and health programs and prioritizes local people when hiring.

The exploration work will resume as soon as the local community gives us the written permission to start a drilling program.

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.

126 M shares outstanding

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

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    Paradox Public Relations