Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

November 29, 2007 10:52 ET

Plexmar Resources Inc.: Update on Bolsa del Diablo, Peru

QUEBEC CITY, QUEBEC--(Marketwire - Nov. 29, 2007) - Plexmar Resources Inc. (TSX VENTURE:PLE) is pleased to present the following update to shareholders on the Bolsa del Diablo project.

Since last February 2007 then Company has made significant progress to obtain social licenses from the two communities where ground geophysical and drilling is planned. In those months, the Company has pursued its social program focusing on helping the artisan miners, teaching and providing technical help, consulting with the locals to better understand their needs and helping the communities to organize themselves socially and legally. Some mapping and sampling was still being done during that period.

The Company needs a social license in order to obtain necessary permits from the Ministry of Mines to initiate the first drilling program.

The Minister of Mines and the president of Peru have made public declarations backing the growth of the mining industry in the country especially in northern Peru where a couple of large mining projects have been advanced near the construction phase. They also said that artisanal mining needs to be controlled in order to avoid damaging the environment and to protect owners of the mining rights.

It is getting more difficult for local miners to produce gold as their workings are now deeper, therefore talks have begun to find out how the Company can help the miners find more gold and maintain production and grade

Last week our social team took a group of 20 influential people from the main community to visit an advanced exploration project owned by another junior company known to have a very successful social management program. The trip was a success and allowed these people to verify and see for themselves the benefits of working with an exploration company. Specifically they saw how an exploration company may fit to help solve education, health, and other important community issues.

We are confident that the Company will obtain a social license from one of the communities in the first quarter of 2008. Shareholders will be promptly informed of all new developments leading to that award.

SAMPLING RESULTS

The exploration program is still being pursued on the northern community where recent mapping and sampling has revealed high grade gold results (up to 52.8 g/t Au) from rock sampling.

Sampling of artisanal workings (veins and rock selvages) has been implemented since last spring in coordination and in agreement with local artisanal miners.

Recent exploration activities performed last summer on the property included rock sampling on the Angolos concession. One sample was also taken from the Artesanal 1 concession. Out of the 26 samples taken from these two concessions during that period, 10 samples returned gold grades above 1 g/t. They are displayed in the tables below according to their geographic location (maps showing for samples location in the case of Angolos Norte and Sur will be uploaded on www.plexmar.com shortly).

The first group of samples is located in the Angolos Norte Zone and consists of a cluster of gold enriched vein and rock samples. This group is located mostly in the northern part of the Angolos concession. At this moment this zone is defined by samples scattered over an area of 1000m by 500m. However, it is suspected from this sampling that the anomalous area may increase in size.



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Angolos Norte Zone
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Au (g/t) Ag (g/t) Sample type
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1 PBD-1078-VN 11,3 7,0 Transversal channel 20cm
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2 PBD-1078-CJ 1,5 3,4 Chip sample 0.6m x 1.5m
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3 PBD-1078A-CJ 3,6 3,1 Transversal channel 30cm
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4 PBD-1087-VN 52,8 11,1 Transversal channel 10cm
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5 PBD-1088-VN 45,8 10,5 Transversal channel 20cm
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6 TNZ-030-VN 3,6 12,3 Transversal channel 15cm
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More specifically, samples 1 to 3 were taken from a NE trending vein in the eastern part of the Angolos Norte Zone. Sample 1 was taken from a small vein whereas samples 2 and 3 were taken from incipient stockworks near the vein. Samples 4 and 5 were taken from a new artisanal small shaft development, at depth of 2m and 4m, respectively, in a previously known cluster of anomalous samples. Sample 6 was taken from a group of parallel veinlets found at the end of a tunnel dug by artisanal miners. Continuous horizontal channel sampling (usually 2m sample length) from this 30m long tunnel returned 0.26g/t Au and 1.27 g/t Ag over the last 22 meters (including sample 6). Values along the 22m long interval were systematically above 0.1 g/t Au.

A second group of samples coming from the southern part of the Angolos concession is displayed in the table below:



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Southern part of Angolos concession
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Au (g/t) Ag (g/t) Sample type
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7 PBD-1075-VN 2,4 5,5 Transversal channel 15cm
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8 PBD-1076-VN 4,4 12,5 Transversal channel 10cm
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9 PBD-1076-CJ 15,5 23,5 Composite sample from
vein extraction.
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Sample 7 comes from a newly discovered vein. Samples 8 and 9 mark the southern extension of a vein presently mined by artisanal miners. They were taken at a depth of 13m.



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Artesanal 1 concession
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Au (g/t) Ag (g/t) Sample type
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10 PBD-1082-VN 4.4 33.5 Composite sample from
vein extraction.
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Sample 10 comes from a poorly defined zone along what appears to be an E-W trending vein.

The Company will issue shortly sampling and interpretation results from its mapping program in progress on the northern part of the Angolos and Artesanal concessions

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. M. Stephane Amireault, P. Eng., is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.

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.

135 M shares outstanding

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