Plexmar Resources Inc.

Plexmar Resources Inc.

April 10, 2007 09:39 ET

Plexmar Resources Inc.: Update on Escondida Project

SAINTE-FOY, QUEBEC--(CCNMatthews - April 10, 2007) - Plexmar Resources (TSX VENTURE:PLE) wishes to inform its shareholders of recent developments on its Escondida project.

In March, follow-up work has been conducted on the Escondida IV concession where a volcanic environment was recently recognized. The Escondida IV concession is located near Yantzaza, SE Ecuador, and is part of the Central Block of Concessions of the Escondida Project. Four stream sediment sampling crews have taken a total of 173 stream sediment samples, with the aim of covering the concession with a sampling nominal density of 1.5 sample per square kilometer. Prospection was also done along the access paths used to reach the stream sediment sample points. 72 rock samples were taken, consisting mostly of grab and chip samples. All these samples have been sent to the ALS Chemex facilities in Quito; gold and other metal assay results are expected in the near future. In April, the work program is expected to include the continuation of the stream sediment survey/prospection on other concessions of Escondida's Central Block of concessions.

The Escondida project represents one of the largest land positions in the Cordillera del Condor near Aurelian Resources' Fruta del Norte gold discovery. The project covers 84,110 hectares (841.1 km2) and borders Aurelian's large land package on the western flank and north of Corriente Resources claims. Namely, the northern block covers 28.5 Km of the contact between the Zamora batholith and the Misahualli volcanic formation. (See attached map) Fruta del Norte is believed to be the most significant gold discovery made by a junior miner in over a decade.

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.

126 M shares outstanding

A map of the Regional perspective, North Block, Escondida Project is available on the CCNMatthews website at the following address:

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    Paradox Public Relations