SAMEX Mining Corp.
OTC Bulletin Board : SMXMF

SAMEX Mining Corp.

May 02, 2007 15:09 ET

SAMEX Options Additional Concessions at Inca Project, Chile

ABBOTSFORD, BRITISH COLUMBIA--(CCNMatthews - May 2, 2007) - SAMEX (TSX VENTURE:SXG)(OTCBB:SMXMF) has signed an option agreement to purchase additional mineral concessions situated within the INCA project area in Chile. Under the option, SAMEX can purchase 100% interest in mineral concessions covering 21 hectares by making option payments totaling the Chilean peso equivalent of US$180,000 over two years as follows:

i) US$50,000 upon signing the Option Agreement (which has been paid);

ii) US$50,000 by April 9, 2008; and

iii) US$80,000 by April 9, 2009.

There is no royalty payable on these concessions.

Since recognizing the potential of the INCA project area and surrounding district, SAMEX has been systematically acquiring mineral concessions in the area by staking, purchase at government auction, or option-to-purchase agreements. The Company holds rights to more than 11,500 hectares of mineral concessions at the INCA project.

Over the past several weeks, bulldozer trenching and road-building has been in progress at the INCA project in preparation for the up-coming exploration drill program. SAMEX is conducting exploration at the INCA project with the objective of discovering large porphyry copper-gold-silver-molybdenum deposits.

Jeffrey Dahl, President

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

Contact Information

  • SAMEX Mining Corp.
    Jeffrey Dahl
    (604) 870-9920 or Toll Free: 1-800-828-1488
    (604) 870-9930 (FAX)