SAMEX Mining Corp.
OTC Bulletin Board : SMXMF

SAMEX Mining Corp.

January 16, 2006 13:42 ET

SAMEX Mining Corp.: Private Placement

ABBOTSFORD, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2006) - SAMEX (TSX VENTURE:SXG)(OTCBB:SMXMF) has arranged a private placement of 3,610,000 units comprised of one common share and one-half of a share purchase warrant at a price of $0.70 per unit. One full warrant will entitle the holder to purchase an additional common share at a price of $0.78 per share if exercised at any time during the three year term of the warrant. The share/warrant units will be subject to a four-month hold period. The proceeds of the private placement will be used for expenditures on the Company's mineral properties and for general working capital. Directors/Officers of the Company are placees for an aggregate of 230,000 units. Finders fees or other compensation may be payable with respect to a portion of the placement. The private placement is subject to regulatory acceptance.

Jeffrey Dahl, President

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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