Silvermex Resources Ltd.
TSX VENTURE : SMR

Silvermex Resources Ltd.

March 25, 2008 09:18 ET

Silvermex Resources Ltd. Acquires the La Frazada Mine, Nayarit, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) - Silvermex Resources Ltd. (TSX VENTURE:SMR) announces it has staked a 360 hectare concession along the South West margin of the Sierra Madre Occidental, in the historic mining district of Real del Zopilote, in the state of Nayarit. The past producing La Frazada Silver Mine is located approximately 300 km North West of Guadalajara and less than 100 km south of the Company's San Marcial project.

Preliminary reconnaissance sampling by Silvermex geologists of the La Frazada structure returned an average grade of 222.7 g/t silver. These results include channel samples across 1.5 meter sections of the vein grading up to 482.9 g/t silver and grab samples from dump material grading up to 655.7 g/t silver. Base metal grades of up to 0.77% copper, 8.2% zinc and 1.55% lead from 1.5 meter channel samples of vein material, and 0.70% copper, 5.3% zinc and 1.87% lead from grab samples of dump material have also been returned.

Specific results from samples collected during the reconnaissance sampling program include:



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Sample# Sample type Sample Source Ag g/t Ag Oz/t Pb % Zn % Cu %
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FZ-1 Grab Dumps 208.7 7.0 1.79 5.30 0.71
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FZ-2 Grab Dumps 456.9 15.2 1.87 3.22 0.31
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FZ-3 Grab Dumps 655.7 21.9 0.82 0.21 0.03
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FZ-4 Channel 1.5 m Vein Underground. 482.9 16.1 0.31 1.00 0.08
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FZ-8 Grab Dumps 228.0 7.6 0.35 0.57 0.03
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FZ-10 Channel 1.5 m Vein Underground. 253.0 8.4 1.51 7.36 0.77
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FZ-11 Channel 1.5 m Vein Underground. 227.0 7.6 1.55 4.07 0.32
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FZ-15 Channel 1.5 m Vein Underground. 102.0 3.4 1.47 8.20 0.10
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FZ-19 Channel 1.5 m Hang/Foot wall 56.0 1.9 0.16 0.87 0.02
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FZ-20 Channel 1.5 m Vein Underground. 42.2 1.4 0.48 0.92 0.03
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FZ-21 Channel 1.5 m Vein Underground. 74.0 2.5 1.36 0.60 0.16
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FZ-26 Channel 1.5 m Vein Underground. 27.2 0.9 0.29 1.46 0.05
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FZ-27 Channel 1.5 m Vein Underground. 82.0 2.7 1.54 5.75 0.12
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The principal mineralized zones which lie between 10 and 15 meters apart, are the La Jabalina and La Frazada Veins. These two parallel structures vary in width from 3 to 15 meters, strike to the North West (general azimuth of 250 degrees) and are moderately to steeply dipping (60 degrees to 70 degrees) to the South West. Both mineralized zones either outcrop or are exposed in trenches and underground workings along strike for more than 3 kilometers within the claim boundaries. A brief survey of the underground workings indicate the structures are exposed over a vertical distance of at least 300 meters and are open down dip. The tunnels are of relatively easy access but will require some re-conditioning.

Historical records indicate a foreign company operated the mines and a small smelter between 1890 and 1910. Operations apparently ceased at the time of the Mexican Revolution. Unverified sources indicate that bonanza grade silver (i.e. up to 1.5 kg/t) and an undisclosed quantity of gold were recovered from these operations. In 1985 Compania Minera Nival completed construction of a 280 tpd mill and development of an extensive series of underground workings including a 1,300 meter tunnel that allowed access to the La Jabalina vein at 6 different levels. These workings were used to access a 900 meter long, 350 meter high ore shoot that appears to be only partial mined. Prior to its abandonment, it appears Nival had been preparing for a more extensive mining program as 5 meter wide ramps had been completed which would have allowed for significantly higher production rates from La Jabalina. Previous owners have reported that exploration results from the Jabalina tunnel include a one meter channel sample of vein material that assayed 19.3 oz/t silver and 0.19 oz/t gold. The mine closed in 1997 due to low metal prices. The mill was later relocated.

The property lies along the contact between the Upper and Lower Volcanic Series, an unconformity that hosts many of the significant precious metal deposits in the Sierra Madre Occidental. Specifically the geology consists of Tertiary age, Lower Volcanic andesites overlain by Upper Volcanic rhyolites, tuffs, breccias and ignimbrites. All the volcanic rocks have been affected by the intrusions of granodiorite, diorite and andesitic porphyry.

Silver and poly-metallic mineralization with lower gold values has been identified within the area staked. Mineralization is associated with a northwest trending regional structure that hosts several quartz veins and breccias zones. This principal trend has been displaced locally by minor post-depositional faulting that does not appear to have significantly impacted the continuity of the mineralized structures. Porphyritic andesite, with pervasive prophylitic alteration (limonite secondary to pyrite) and minor dissemination of galena and pyrite is the principal host in the mineralized zone.

Silvermex is currently completing a systematic sampling and mapping program along the 3 kilometer surface outcrops and the underground workings in which the La Jabalina and La Frazada vein and breccias systems are exposed. Management believes the El Zopilote District is a large mineral system that may be part of a volcanic caldera complex. In addition to being a favorable environment for hosting epithermal deposits the geology of the region suggests it may also be favorable for hosting volcanogenic massive sulfides targets. A detailed mapping and sampling program is currently underway on the property with a drill program scheduled for the third quarter of this year.

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.

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