Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

October 26, 2005 10:16 ET

Plexmar Resources Inc.: More Details on Last Press Release

QUEBEC CITY, QUEBEC--(CCNMatthews - Oct. 26, 2005) - Plexmar Resources Inc. (TSX VENTURE:PLE), would like to provide more information and clarifications pertaining to its Oct.11, 2005 press release.

Plexmar has retained the consulting services of M. Cesar Orosco, a petroleum geologist with 30 years experience in the oil & gas sector to evaluate oil & gas projects. He has worked for numerous large oil & gas US corporations as exploration manager and spent most of his career in South America. M. Orosco is a member of the American Association of Petroleum Geologists and is a Qualified Person as per NI 51-101.

Plexmar is pleased to announce that it is presently evaluating many large oil and gas projects located in North and South America.

Plexmar remains dedicated to the development of its gold prospects in Peru and is currently evaluating other investment opportunities in the gold sector. The exploration programs will resume shortly after the closing of the Private placement announced on Aug.26,2005.

In order to increase shareholder value, the creation of an oil & gas subsidiary owned 100% by Plexmar is being contemplated. Plexmar will keep its shareholders informed of the oil and gas projects in-house evaluations shortly.

Bolsa del Diablo project

The company would like to clarify that the technical report of Grond (2005) indicated that the veins that the artisanal miners are working are "more reminiscent of low sulphidation epithermal systems".

The artisanal mining activity previously announced is presently occurring at the Bolsa del Diablo zone, an area approximately 4km2 roughly centered within Plexmar's main claim block. The zone is characterized by low to intense silica and clay hydrothermal alteration. Within the zone there is a 3km extent where numerous gold rich quarts veins occur and several active artisanal workings exist.

The company is pleased to provide more detail of its surface sampling in the Bolsa del Diablo zone. The company conducted surface sampling of the zone in 2004 and January 2005.

Sixty four rock samples were collected over a length of 2km, including chip, channel, grab rock samples from outcrop as well as dump samples from artisanal workings. Three mineralization styles were sampled: 1) quartz veins from artisanal workings, 2) argillically altered dacite with minor quartz veining, and 3) highly silicified unaltered dacite. Gold values ranged from background to 119 g/t gold. The high value was from a selected grab sample of quartz vein material taken at the dump of an artisanal working. Argillically altered dacite returned assay values typically under 2 g/t gold, and represent a low grade high tonnage potential in the area.

Most samples from the highly altered dacite were anomalous (greater than 50 ppb Au).

Samples were shipped to and processed by ALS Chemex laboratory in Lima. Peru.

Phase 1 recommendation of Grond (2005) will start shortly. The Phase I of the exploration program consists geologic mapping, geochemical sampling and trenching. This program will be followed by ground geophysics and drilling.

Helen Grond, P.Geo., is the QP for the Bolsa del Diablo project, and has reviewed this news release

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

Contact Information

  • Plexmar Resources
    Guy Bedard
    President
    (418) 658-6776
    (418) 658-8605 (FAX)
    info@plexmar.com
    website: www.plexmar.com
    or
    Paradox Public Relations
    1-866-460-0408
    (514) 341-0408