Silvermex Resources Ltd.
TSX VENTURE : SMR

Silvermex Resources Ltd.

April 17, 2008 06:30 ET

Silvermex Extends Strike Length at San Marcial to 3,500 Meters

Trenching Returns 300 g/t Silver Across 22.1 Meters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2008) - Silvermex Resources Ltd. ("Silvermex") (TSX VENTURE:SMR) announces results of its surface and underground exploration programs on its optioned San Marcial Property in southern Sinaloa. Highlights include grades as high as 300 g/t silver across 22.1 meters and a higher grade section of 994 g/t silver over 2 meters. The surface and underground exploration program at San Marcial included geological mapping, surface channel sampling, drill core re-logging and road construction.

Geological mapping (1:1,000) was completed over a 360 hectare area exposing 3.5 kms of strike length along the San Marcial vein system. This is an increase of 3 kms over the 500 meter area which contains the existing inferred resource of 14.26 million ounces of silver. Channel sampling of the surface exposures of the vein system and re-logging of 3,127 meters of core from previous drilling campaigns by prior operators were also completed. This program provided valuable information regarding the geologic history, nature of the mineralization and deposit model used to support the next phase of exploration. The next phase program will include a 5,000 meter diamond drill program with a principal objective of expanding the current resource.

The San Marcial vein system outcrops intermittently for over 3.5 kilometers and varies in width from 2 meters to 35 meters. The system strikes NW-SW and dips between 55 degrees to 65 degrees NE. The host rocks consist of a volcanic sequence of andesitic composition. The hanging wall is composed of tuffs, ash flows and conglomerates with the footwall composed of tuffs, lava flows and a volcano-sedimentary sequence in the extreme southern portion of the claim block exposed by the historical workings. The volcano-sedimentary sequence in a very important marker as it is generally affected by a strong propilitization with 5% to 10%, disseminated pyrite associated with high grade silver, lead and zinc values.

A total of 143 channel samples were collected from the various trenches and outcrops. The samples were forwarded for both assay and multi-element analysis by four-acid digestion method. The results confirm the high grade tenure of the surface mineralization and the continuity of the ore-shoot that hosts an inferred mineral resource of 14.6 million ounces of silver (2,310,000 tonnes grading 191.79 g/t Ag, 0.32% Lead and 0.66% Zinc). Five trenches are located along 400 meters of strike within the area hosting the majority of historical workings. The mineralization ranged from 300 g/t Ag across 22.1 meters to 994 g/t Ag across 2.0 meters. The mineralization remains open to the southeast. To the northwest the surface exposures of the San Marcial vein system are not as continuous but can be traced or inferred by an alteration zone that extends for more than 2.5 kilometers. These outcrops vary in width from 2 to 35 meters. While these surface expressions generally returned lower silver grades, the presence of indicator minerals (i.e. arsenic, antimony, manganese, lead, zinc and barium) allow us to infer the continuity of the vein system and the probability of higher silver grades at depth.



Table 1. Reports the assay results of Silvermex's recently completed
channel sampling program.

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Channel Sample Width Au Ag Cu Pb Zn As
No. No. (m) LITHOLOGY ppb g/t ppm ppm ppm ppm
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3369 1.00 Andesite at the 10 - 55 78 510 68
hangingwall
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Channel 3370 1.00 Qz veinlets and 10 733.1 342 259 1856 46
1 patches of oxides
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3371 0.80 Qz veinlets and 23 563.9 62 4340 3658 93
patches of oxides
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3372 1.00 Qz veinlets and 77 419.5 57 6060 12762 120
patches of oxides
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3373 1.20 Qz veinlets and 56 692.4 103 54806 18951 88
patches of oxides
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3374 1.20 Qz veinlets and 37 845.9 106 7017 12231 131
patches of oxides
----------------------------------------------------------------
3375 1.20 Qz veinlets and 52 688.6 115 13070 11994 230
patches of oxides
----------------------------------------------------------------
3376 1.20 Qz veinlets and 45 219.8 109 7574 5356 67
patches of oxides
----------------------------------------------------------------
3377 1.50 Qz veinlets and 26 - 102 6461 4727 98
patches of oxides
----------------------------------------------------------------
3378 2.00 Qz veinlets and 10 - 68 2851 2528 73
patches of oxides
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3379 3.00 Qz stockwork footwall 99 - 240 6306 4900 198
----------------------------------------------------------------
3380 2.00 Qz stockwork footwall 80 994.4 88 1536 1826 153
----------------------------------------------------------------
3381 1.80 Qz stockwork footwall 51 696.4 65 3360 2188 149
----------------------------------------------------------------
3382 2.00 Qz stockwork footwall 65 610 43 2163 1739 169
----------------------------------------------------------------
3383 2.20 Qz stockwork footwall 58 163.2 24 553 646 119
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Channel 3384 2.00 Qz veinlets and 8 - 12 36 129 15
2 patches of oxides
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3385 2.00 Qz veinlets and 12 - 30 89 466 36
patches of oxides
----------------------------------------------------------------
3386 1.80 Qz veinlets and 10 - 22 53 50 6
patches of oxides
----------------------------------------------------------------
3387 1.20 Qz veinlets and 8 - 11 41 101 12
patches of oxides
----------------------------------------------------------------
3388 1.00 Qz veinlets and 8 - 20 90 194 20
patches of oxides
----------------------------------------------------------------
3389 2.20 Qz veinlets and 11 877.3 122 4961 3989 112
patches of oxides
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3390 1.50 Qz veinlets and 7 - 83 1653 4845 96
patches of oxides
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Channel 3391 1.30 Breccia at the 18 377.4 61 1730 1736 30
3 hangingwall
----------------------------------------------------------------
3392 1.20 Qz veinlets and 11 591.3 60 1923 2641 25
patches of oxides
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3393 1.50 Qz veinlets and 6 164.6 20 1178 2099 24
patches of oxides
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Channel 3394 1.20 Andesite altered-Qz 33 - 36 1750 3697 49
4 veinlets
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3395 1.30 Andesite altered-Qz 32 238 26 1425 1936 60
veinlets
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3396 1.80 Andesite altered-Qz 47 213.1 33 1207 2364 61
veinlets
----------------------------------------------------------------
3397 1.80 Andesite altered-Qz 13 - 31 1369 2763 65
veinlets
----------------------------------------------------------------
3398 1.60 Andesite altered-Qz 10 541.1 18 2837 3398 66
veinlets
----------------------------------------------------------------
3399 1.20 Andesite altered-Qz 24 554.1 35 1279 2844 54
veinlets
----------------------------------------------------------------
3400 1.00 Andesite altered-Qz 9 149.8 31 6587 2946 148
veinlets
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Channel 9226 0.80 Andesite altered-Qz 15 - 96 5013 8278 70
5 veinlets
----------------------------------------------------------------
9227 1.30 Andesite altered-Qz 65 278.4 55 1595 7130 68
veinlets
----------------------------------------------------------------
9228 2.00 Andesite altered-Qz 12 343.1 60 332 1573 113
veinlets
--------------------------------------------------------------------------
9229 2.00 Andesite altered-Qz 5 - 46 854 2621 81
veinlets
--------------------------------------------------------------------------
9230 2.00 Andesite altered-Qz 5 - 26 221 1580 127
veinlets
--------------------------------------------------------------------------
9231 1.30 Andesite altered-Qz 10 - 15 1558 4736 71
veinlets
--------------------------------------------------------------------------
Channel 9232 1.50 Andesite altered-Qz less - 6 35 101 51
6 veinlets than 2
----------------------------------------------------------------
9233 2.00 Andesite altered-Qz 5 - 7 less 36 52
veinlets than 2
----------------------------------------------------------------
9234 2.50 Andesite altered-Qz less - 4 10 37 64
veinlets than 2
--------------------------------------------------------------------------

Table 1. Assay results from trenching sampling on the San Marcial vein
system


Quality Control

All samples have been submitted to IPL in Richmond, B.C. for four acid digestion followed by ICP analysis. Duplicates, standards and blanks have been randomly inserted to the sampling stream at a ratio of 1 check assay for every 25 samples. Check assays are being completed at ALS Chemex in North Vancouver, B.C.

Qualified Person

Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A., Executive Vice-President and CFO of Silvermex Resources Ltd. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Silvermex Resources Ltd. employees and contractors.

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.

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

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