Silvermex Resources Ltd.

Silvermex Resources Ltd.

September 13, 2007 09:00 ET

Silvermex Resources Ltd.: Cerro de Plata Project, Sonora, Mexico

Encouraging Results From 2007 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2007) - Silvermex Resources Ltd. (TSX VENTURE:SMR) -

A first phase exploration program was completed at the Company's Cerro de Plata project in northern Sonora between May and August 2007. The program consisted of drilling 1,528 metres of core in nine holes, a 10 kilometre Controlled Response Induced Polarization geophysical survey, a 600 kilometre airborne magnetic and radiometric survey, 2.5 kilometres of road construction and trenching and detailed surface and underground mapping and sampling.

Highlights from the drill program include 11.65 metres grading 190.9 g/t silver, 0.37% copper and 0.11% lead from 5.50 metres to 16.8 metres in hole CP-02, 4.5 metres grading 139 g/t silver in hole CP-03, 13.65 metres grading 78 g/t silver in hole CP-04 and 4.50 metres grading 125.8 g/t silver and 0.28% copper in hole CP-07. Anomalous grades of molybdenum were also found in various intervals, with a 2.0 metre intersection grading 0.14% molybdenum in hole CP-06. Sufficient information is not available to determine whether significant drill hole intersections represent true widths. Complete results for the drill program and the results from the airborne survey can be found in the long form of this press release posted on the Company's website at

The information garnered from the program supports a copper-molybdenum porphyry geological model with associated epithermal silver vein type mineralization. The region has been subjected to both high and low angle faulting that produced conduits for the flow of both meteoric and hydrothermal fluids. These favorable paths allowed for the "leakage" of copper, silver and other base and precious metals to the surface. The percolation of the fluids resulted in oxidation and weak supergene enrichment of copper and molybdenum minerals to depths exceeding 100 metres. The information also suggests the region has a volcanic cover that locally has been pierced by the porphyry and/or epithermal systems. As the volcanic cover masks a significant portion of the porphyry system, the surface values are often inconsistent and erratic. The high aluminum content in both the quartz porphyry and the highly altered granodiorite suggests mineralization was formed in a volcanic to sub-volcanic environment similar to those hosting many of the major copper-molybdenum porphyry deposits of northwest Sonora and southern Arizona.

Technical staff believe that an extensive program of detailed geological mapping, geophysics and geochemistry followed by a second stage 5,000 metre diamond drill program is required to progress the project and prioritize targets. A detailed interpretation of the aeromagnetic data is currently being completed by Zonge Engineering and Research of Tucson, Arizona.

The drill has been demobilized from the property and is now en route to the Company's Penasco Quemado property to drill three additional targets with a geophysical signature similar to the Penasco Quemado zone.


Based on the geological mapping and geochemical and rock sampling, a 1,528 metre diamond drill program was designed to test the continuity of the silver mineralization in the northern portion of the trend in which several zones of alteration and silver and copper mineralization are evident. While several significant drill hole intersections were returned from the program holes CP02, CP-04 and CP-07 returned the most encouraging results.

Drill Hole CP-02

Drill hole CP-02 was drilled adjacent to the main workings of the Cerro de Plata Mine to a depth of 173.15 metres. Significant intervals include:

Cu Pb Zn
From To Width Ag ppm ppm ppm As Mo
(m) (m) (m) g/t (%) (%) (%) ppm ppm
5.15 16.80 11.65 190.9 3725 1050 40 55 19.8
(0.37%) (0.11%)
102.65 113.15 10.50 9.5 268 1873 245 740 231.4
120.65 130.15 9.50 2.7 365 1013 1090 287 225.6
(0.10%) (0.11%)

Drill Hole CP-04

Hole CP-04 returned a 13.65 metre interval grading 78 g/t silver, including a 4.55 metre interval grading 170 g/t silver but does not appear to have intersected the principal zone of silver mineralization. The hole did however return a 56.4 metre wide intersection grading from 0.05% to 0.61% copper. Results from hole CP-04 include:

Cu Pb
From To Width Ag ppm ppm Zn As Mo
(m) (m) (m) (g/t) (%) (%) ppm ppm ppm
14.55 28.20 13.65 78.0 2820 839 55 0 39.2
Includes 4.55 170.0 6110 1629 76 0 104.0
(0.61%) (0.16%)

Drill Hole CP-07

Drill hole CP-07 returned the following significant results, most notable of which is a 4.50 metre intersection grading 125.8 g/t silver and 0.28% copper:

Cu Pb As
From To Width Ag ppm ppm Zn ppm Mo
(m) (m) (m) (g/t) (%) (%) ppm (%) ppm
64.50 85.50 21.00 50.4 1771 22122 246 5178 365
(0.18%) (2.21%) (0.52%)
Includes 4.50 125.8 2839 54441 152 9133 262
(0.28%) (5.44%) (0.91%)


Induced Polarization Survey

A 5-line, 10 km, dipole-dipole Controlled Response Induced Polarization-Resistivity survey was completed over a 40 hectare area centered on the Cerro de Plata Mine workings. The survey was initially completed with 50 metre dipole spacing to maximize the resolution of any identified anomaly. Spacings were increased to 100 metres in certain sections to increase the depth of penetration. The results identified two distinct trends, each with coincident chargeability and resistivity highs suggesting the anomalies are associated with a highly conductive material.

Airborne Magnetics and Radiometric Survey

A 600 line km air magnetic and radiometric survey was completed by the Servicio Geologico Mexicano (SGM) in May 2007. Zonge Engineering and Research of Tucson, Arizona who completed the IP survey was contracted to apply a new filtering technique to the original data to generate a total magnetic field intensity map.

On a local scale the most important feature is a significant gradient change associated with a magnetic low extending for more than 4 kilometres along strike and coincident with the Induced Polarization and resistivity anomalies. The geometry and extent of the magnetic low trend suggests the 2007 drill program concentrated only on the extreme southern portion of this trend. Based on this information technical staff are recommending a geological reconnaissance and geochemical sampling program be initiated on the north extension of this trend.

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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