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Mexoro Announces First Assay Results Under the New Strategic Alliance With Paramount Gold From the Cieneguita Mine Including 74 Meters of 1.72g/T Gold and 119.77g/T Silver

Posted on: Wednesday, 21 May 2008, 18:00 CDT

CHIHUAHUA, Mexico, May 21 /PRNewswire-FirstCall/ -- Mexoro Minerals Ltd. (BULLETIN BOARD: MXOM) is pleased to announce their first assay results under the newly signed strategic alliance with Paramount Gold and Silver Corp. (Amex/TSX: PZG). These results are from 6 additional drill holes from the Cieneguita project (CI-13 to CI-18) and partial results from three other holes: CI-19, CI-20 and CI-21 (only Au and Ag for the upper part of the drill holes). These assays continue to intersect significant gold and silver mineralization at the Cieneguita project in the Urique District, 375 km to the southwest of Chihuahua City, Mexico. It is in the same mineralized trend and only 20 km away from Goldcorp's El Sauzal mine, Mexico's largest producing gold mine and adjacent to Paramount's Andrea project. Cieneguita was last in production by Glamis Gold Ltd. between 1995 and 1998 prior to its acquisition by Goldcorp Inc. A total of 25 diamond core holes have been drilled (CI-01 to CI-25) totaling 5,323 core meters since drilling began at Cieneguita in early December 2007. Assays from CI-01 - CI-12 were released in March and April of 2008.

Due to the encouraging assay results from the drilling at Cieneguita, the diamond drilling program initially consisting of 4,000 meters has been extended to a minimum of 10,000 meters. The drill program will focus on:

-- Exploring high-grade mineralization areas within known pit limits -- Testing the potential of three new recently identified high-grade zones -- Determining the oxide-sulfide interface and characterizing the gold and silver mineralization contained in the sulfide zone -- Exploring Piedras Blancas, a recently identified mineralized area 500m south of the Cieneguita main ore body. In this area the gold anomalies at surface are greater than the ones at Cieneguita

Drill hole CI-21 identified a new gold zone to the south of Pit 2 and expanded the deposit at depth. Highlights from CI-21 include an intercept of 74 meters of 1.72 g/t Au and 119.77 g/t Ag; which included 10.50 meters of 2.42 g/t Au and 244.36 g/t Ag and 16.50 meters of 2.66 g/t Au and 135.22 g/t Ag.

Drill holes CI-13, CI-14 and CI-17 were collared beyond the known limits of the mineralization intersecting only anomalous gold in most of the intervals.

Holes CI-15 and CI-16 were collared in the Pit 1 area to the northeast of the Cieneguita system. The drill holes were designed to test the near-surface oxide mineralization identified at the Pit 1 area. The results show that gold mineralization is associated to an oxidation zone exhibiting a thickness of up to approximately 25 meters. Gold mineralization is also hosted in this area by a dacitic tuff and hydrothermal breccia bodies.

Holes CI-18 and CI-21 were collared on, and to the south of, Pit 2 in a southeast direction. The drill holes were designed to test anomalous and high grade gold values obtained from surface samples taken during the mapping process carried out in 2007. The results indicate the continuation to the southeast of both the near surface oxide mineralization and the deeper sulfide gold-silver (+Pb-Zn) mineralization. Follow-up drill holes will be programmed to test the extension of the mineralized intervals to the east and at depth. Gold and silver mineralization intersected in drill hole CI-21 may represent a new hydrothermal mineralization center at the southwestern margin of the Cieneguita system that could increase the potential of the Cieneguita project significantly.

Ongoing core drilling of the Cieneguita mineralization system has confirmed that mineralization occurs mainly as disseminations hosted by dacitic tuffs and hydrothermal breccia bodies. Due to the disseminated character of the mineralization, several follow-up holes will be drilled to define lateral and vertical extensions of the three newly identified mineralized areas.

For a complete assay table and maps of Cieneguita, please visit our website at http://www.mexoro.com/.

Hole ID From(m) To(m) Interval(m) Au(g/t) Ag(g/t) Pb(%) Zn(%) CI-13 84.40 92.00 9.10 0.45 111.50 123.25 11.75 0.81 210.50 213.50 3.00 0.50 0.85 282.50 293.00 10.50 0.55 0.94 -------------------------------------------------------------------------- CI-14 114.50 117.50 3.00 1.53 135.00 144.00 9.00 0.95 -------------------------------------------------------------------------- CI-15 0.0 10.50 10.50 2.15 34.62 -------------------------------------------------------------------------- CI-16 0.0 19.30 19.30 1.57 26.50 -------------------------------------------------------------------------- CI-18 0.0 14.50 14.50 1.10 26.95 81.50 93.50 12.00 0.37 100.64 102.50 149.00 46.50 0.47 58.75 165.50 170.00 4.50 0.58 37.90 171.50 186.59 15.00 0.44 27.15 189.50 197.00 7.50 0.29 82.12 0.26 0.56 197.00 207.50 10.50 0.53 42.64 215.00 228.50 13.50 0.93 50.47 248.00 251.00 3.00 0.14 20.30 0.38 0.46 258.50 263.00 4.50 0.11 16.00 0.57 0.81 264.50 276.50 12.00 0.18 21.01 0.64 1.02 Including 264.50 269.00 4.50 0.21 28.33 1.03 1.82 -------------------------------------------------------------------------- CI-19 15.50 32.50 15.00 0.75 106.14 Including 17.50 23.50 6.00 1.33 145.17 -------------------------------------------------------------------------- CI-20 0.0 19.00 19.00 0.89 Including 11.50 14.50 3.00 1.09 -------------------------------------------------------------------------- CI-21 42.50 116.50 74.00 1.72 119.77 Including 42.50 53.00 10.50 2.42 244.36 Including 76.00 92.50 16.50 2.66 135.22 Including 98.50 110.50 12.00 1.66 71.69 Quality Control

Mexoro takes digital photographs of the entire core before sampling. The samples are analyzed by ALS Chemex Labs in Vancouver, Canada. Samples are analyzed by Au (Atomic Absorption) plus an ICP multi-element package. We inserted certified standards, blankets and duplicates into all samples shipment to the laboratory. Half-core samples are retained in our storage for verification, reference and all other purposes

These results have been prepared under the supervision of Barry Quiroz, MSc., Mexoro VP of Exploration. He has the expertise and authority to verify the authenticity and validity of this data.

About Mexoro:

Mexoro Minerals Ltd., is an exploration and production company focused on mining precious metals in the traditionally mineral rich Sierra Madre region of Chihuahua, Mexico which controls three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. The Company also has claims on additional properties, in the Chihuahua area near Paramount's San Miguel projects. Mexoro recently signed a Strategic Alliance with Paramount Gold and Silver Corp. (AMEX/TSX: PZG).

Contact Information: Investor Relations 613.288.4288 info@mexoro.com

Mexoro Minerals Ltd.

CONTACT: Investor Relations of Mexoro Minerals Ltd., +1-613-288-4288,info@mexoro.com

Web site: http://www.mexoro.com/

Source: PRNewswire-FirstCall

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