Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

August 26, 2011 07:00 ET

Trece Barras Reaches Preliminary Agreement With Community Leaders and Representatives of Pampa Larga

QUEBEC CITY, QUEBEC--(Marketwire - Aug. 26, 2011) - Plexmar Resources Inc. (TSX VENTURE:PLE) wishes to announce today that on August 16th, 2011, in Las Lomas, Peru, a meeting was held between leaders and authorities from the Pampa Larga community and representatives of Trece Barras. The purpose of the meeting was to debate and, if deemed appropriate, approve the formation of a social enterprise to form a partnership with the community of Pampa Larga to induce structural projects in the sector of small scale artisanal mining, bio agriculture and handicraft. The formation of a social enterprise in which Trece Barras and the community of Pampa Larga will be shareholders is the corner stone of a new agreement between Trece Barras, Plexmar Resources and the local communities that should lead to the establishment and the adoption of a permanent land access protocol that will allow a full fledge exploration program on Bolsa Del Diablo. According to a vote call and recorded by an attorney-at-law, the incorporation of the social enterprise was unanimously approved by the participants.

Plexmar Resources would like to inform its shareholders that for the past year, and more specifically for the past 6 months, Trece Barras has been very active in the Pampa Larga community working together with all the stakeholders, community interest groups, informal miners and local representatives to create a sustainable and mutually beneficial development model. Community leaders, stakeholders, local representatives and residents are supportive of the Trece Barras proposition which incorporates firm commitments for infrastructure development and social sustainability and benefits to the local community. The short term goal is to obtain community approval granting surface access rights to allow the exploration program.

To complement its proposition, Trece Barras and Plexmar have recently developed a project allowing the integration of the local community interests by proposing the creation of a social enterprise to be co-owned with the Pampa Larga community. On both the social and economic fronts, this project will rally the community towards one common objective: sustainable development, poverty and social inequities reduction by the implementation and operation of a social enterprise in which the majority of the community residents will participate. This partnership approach which targets sustainable development will focus on production of added value products aimed at the export markets. Ultimately, the enterprise will allow the Pampa Larga community access to auto determination while reinforcing its economic and social capabilities by creating employment, the setup of an infrastructure fund and access to micro credit.

The funding of the social enterprise is conditional upon the community approving the surface access and allowing the exploration program to be carried out and the execution of a pilot project. The pilot project will be implemented in the small scale mining sector. The enterprise will employ a number of local miners; provide them with the necessary equipment and technical tools to mine in a safe and efficient way while respecting the environment and mining regulations. The pilot project's objective is to demonstrate the economic viability of the enterprise and create a long term working relationship.

Plexmar signed an agreement in August 2010 granting Minera Trece Barras S.A.C. to provide exploration and exploitation services on the Bolsa del Diablo project. (Refer to August 10, 2010 press release for more details). Part of Trece Barras obligations is to comply with the Mining Law and obtain all necessary permits to allow exploration and exploitation including permissions from the local communities, environmental impact studies and all ministerial authorization. Minera Trece Barras S.A.C. is a prominent Peruvian mining Company with 30 years of experience in processing precious metals and dealing with mining communities.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions
.

PROFILE

Plexmar is a junior company focused on precious metals in Peru

PROPERTIES

Gold :Peru: Oro Del Norte, Marilia, Bolsa Del Diablo

CORPORATE INFO

- 228 M shares outstanding

- Symbol: PLE (TSX-V)

Contact Information

  • Guy Bedard, president
    418 658-6776
    www.plexmar.com

    Paradox Public Relations:
    866 460-0408
    514 341-0408