SOURCE: Tombstone Exploration

Tombstone Exploration

April 20, 2009 09:00 ET

Tombstone Exploration Updates Shareholders on Progress and Current Plans

PHOENIX, AZ--(Marketwire - April 20, 2009) - Tombstone Exploration Corporation (TMBX) (OTCBB: TMBXF) today provided shareholders with a progress report and update on plans currently underway. TMBX has the mineral rights to approximately 11,500 acres of historical mining land, consisting of over 300 contiguous mineral claims. The property includes eight structures that were prolific producers in the past: State of Maine, Bonanza-Solstice, Merrimac, Black Horse, Santa Ana, Mamie, Groundhog and Randolph.

During the last three months, TMBX has made significant strides towards maximizing the further development of its current acreage and announced the following:

--  Feb 18th - Simon Russell joins TMBX as Chief Operating Officer. Mr.
    Russell is a Geological Engineering graduate of the University of Arizona.
    He is also an alumnus of the New Mexico Institute of Mining and Technology,
    and completed several graduate courses at the University of Nevada, Reno's
    Mackay School of Mines.
    
--  Feb 20th - TMBX receives a comprehensive proposal from Layne
    Christensen's Mineral Exploration division for the 2009 Tombstone Drill
    Program. Layne Christensen conducted Tombstone's 2008 Drill Program and is
    one of the largest providers of drilling services for geological assessment
    with over 150 drilling rigs.
    
--  March 17th - Evaluation of several prospective acquisitions with known
    silver and gold mineralization in several mining districts is being
    conducted by the Company. To help expedite these activities, Tombstone
    hires two additional consulting geologists with extensive mining and
    exploration experience.
    
--  April 2nd - TMBX's staff identifies 3 exploration strategic priorities
    for advancing near-term value and long term economic potential on its
    Tombstone, Arizona properties. These targets will be the focus of their
    2009 exploration program.
    
--  Apr 7th - The Company receives a Speculative Buy rating with a price
    target of $0.44 by Beacon Analyst, Victor Sula, Ph.D.
    
--  April 15th - TMBX receives encouraging assay results from rock chip
    samples on its Tombstone properties, with grades up to 6.26 grams per ton
    gold and 190.4 g/ton silver confirming the presence of gold-rich,
    silicified zones of mineralization adjacent to historically mined silver-
    lead orebodies.
    

TMBX began an extensive drill program in 2007 involving geological research, testing, and identification of key target areas and reserve categories. During the Phase 1 Drill Program, the Company identified a very rich mineral zone that potentially represents a significant precious and base metals discovery. Preliminary mineral inventory for the Tombstone project consisted of approximately 2.53 million tons at 141 grams/ton silver; 25,200 ounces of gold; 386,000 pounds of copper; 7.50 million pounds of lead and 1.25 million pounds of zinc. In addition, the Drill Program indicated 205 million pounds of manganese deposits. This inventory is from discoveries made on only 5% of the Company's acreage; 95% remains unexplored. In 2009, the Company plans to extend its exploration and drilling program at Groundhog and Randolph.

Alan Brown, President and CEO of TMBX, remarked, "We have been extremely busy this year enhancing our geological team and strategically evaluating the most productive priorities to achieve the greatest short term and long term results from our current acreage. We are also looking to expand beyond our current acreage and are actively looking at additional opportunities to acquire property."

Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. At the completion of the feasibility study, the Company will then consider joint venture mining or some other scenario that would eventually expedite a mining operation on the Tombstone property. More often in these scenarios, the Company would become subject to take over offers based on a positive economic feasibility study. The Company understands that the discovery to feasibility phase generally offers the best return on investment to shareholders. Tombstone Exploration Corporation has the mineral rights to approximately 11,500 acres of historical mining land in the areas around Tombstone, Arizona and is now the largest landholder in the Tombstone Mining District. Through expansion, the Company will acquire new properties.

For more information on Tombstone Exploration Corporation, please visit www.tombstonemining.com.

FORWARD-LOOKING STATEMENTS

Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation most recent public filings with the U.S. Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Tombstone Exploration Corporation
    Alan M. Brown
    President
    Email Contact
    480-305-4507

    Investor Relations:
    The Eversull Group, Inc.
    Jack Eversull
    972-378-7917
    972-378-7981 (fax)
    Email Contact