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Drilling Encounters High Grades at EXMIN's Moris Exploration Project

Posted on: Wednesday, 4 June 2008, 09:01 CDT

EXMIN Resources Inc. (EXMIN) (TSX VENTURE: EXM) is pleased to announce that it has received additional assays from two veins drilled at the El Pilar target area. Two sample assays that were previously released from core holes HMF-3 and HMF-1, returned overlimit values for silver (greater than 1,500 g/t silver). EXMIN requested that the laboratory reassay the two samples which have returned assay results of 9.37 g/t gold and 3,750 g/t silver over 1.5 metres and 8.93 g/t gold and 2,360 g/t silver over 0.65 metres, respectively (see table of drill data below). These results complete preliminary data included in EXMIN's News Release of March 13, 2008. The sample widths indicated are lengths measured along the core and are not true widths. The 1.5 meter sample is believed to be close to the true width and to represent a new vein not previously identified, while the 0.65 meter interval sampled a narrow 1-2 cm wide vein at a low angle to the core axis.

Dr. Craig Gibson, Co-Founding Executive Vice President of Exploration for EXMIN, stated, "We are very pleased with the ongoing positive exploration developments in Moris. EXMIN has received the data generated by our former joint venture partner at the Moris exploration project. We have been compiling the data into our database and in the process asked the analytical laboratory to complete assays on two samples that were recorded as having greater than 1,500 g/t silver. Interpretation of the data is in progress, and we anticipate submitting additional samples of core that were not previously sent to the lab for analysis."

District Exploration

Beginning in early 2006, EXMIN acquired a significant percentage of the mining concessions in the Moris district (please visit www.exmin.com to view project maps) and identified three areas with large scale exploration targets, at El Pilar-Mesa de las Tunas, Tecolote, and Balleza (see EXMIN News Release of February 22, 2006). Each of these areas was the site of past mining activity, although little modern exploration was completed prior to EXMIN's work. The areas are road accessible, and the drill programs described below are believed to be the first at each target.

EXMIN joint ventured the 71,000 hectare project to a subsidiary of Hochschild Mining plc (Hochschild) in mid 2006 (see EXMIN News Release of July 18, 2006). Drilling by the joint venture in 2007 tested portions of each of these targets, and intersected high grade gold and silver in veins as well as wider zones of lower grade mineralization (see EXMIN News Releases of July 11, 2007 and March 13, 2008). Hochschild returned 100% of the project to EXMIN in April, 2008, after spending about US$ 1.5 million (see EXMIN News Release of April 16, 2008).

El Pilar Target

At the El Pilar-Mesa de Las Tunas area a series of narrow but high grade gold-silver veins has been mined at a small scale in the past. Several important veins with past small scale production are known, including Pedregosa, Juana Ines, La Blanca, and El Templar (see table of assays below). Also, at Ampliacion Finlandia, a breccia body with fragments of wall rock and interstitial quartz vein fill yielded high silver values; 19 samples averaged 2.0 metres in width with 0.92 g/t gold and 206 g/t silver with values as high as 7.98 g/t gold and 968 g/t silver, both over 2 metre sample widths (see EXMIN News Releases of July 18, 2006 and July 11, 2007 for sample data). Work by Hochschild has yielded similar results (see table below).

Drilling to date has been on the western side of the area near El Pilar. The main targets have been the breccia body at Ampliacion Finlandia as well as the La Blanca/Todos Santos vein system. Six holes were drilled totalling 1739.85 metres; several veins with interesting precious metal grades were intersected, including the two intercepts mentioned previously, as well as wider zones of lower grade silver mineralization, including 11 metres of 250 g/t silver and 1.4 g/t gold (see EXMIN News Release of March 13, 2008).

Tecolote Target

The eastern part of the Tecolote target area is located approximately 2 kilometres from the producing Moris Mine, owned by EXMIN 30% and Hochschild 70%. The target consists of a large structural zone that hosts a vein system that has been traced for over 800 metres along strike and is exposed over a vertical extent of more than 700 metres. The structural zone is similar to that which hosts the Santa Maria vein now in production at the Moris Mine. Tecolote was not eroded like the Santa Maria vein and has the potential to host several times more mineralized tonnage. Relatively narrow veins occur within a large area of high-level silicification, a feature commonly observed above productive low sulfidation epithermal deposits.

Drilling at Tecolote returned wide intervals with anomalous gold values. Four holes were drilled at this target for a total of 708.65 metres. Mineralized intervals included 40.75 metres with 0.6 g/t gold, and 16.65 metres of 0.89 g/t gold, as well as narrower higher grade vein intercepts within the wider zones, including 0.6 metres of 3.95 g/t gold and 16.7 g/t silver (see EXMIN News Release of July 11, 2007). The drilling to date has only tested mineralization at a very high structural level in the vein system.

Balleza Target

The Balleza target consists of a silicified rhyolite dike that hosts quartz-matrix breccias and local discrete high grade quartz veins. The dike has been explored over mineralized widths of 10 to 25 metres and is exposed over a vertical elevation of more than 100 metres and at least 500 metres along strike, and is open in both directions. Of fifty-seven rock chip samples previously taken by EXMIN, more than half returned gold values of greater than 0.5 g/t Au and ranged up to 6.18 g/t Au and 461 g/t Ag (see table below for average sample assays). One sample from a mine dump assayed 26.6 g/t Au. Rock chip sampling by Hochschild yielded similar results, with most samples assaying more than 0.3 g/t in the silicified and brecciated dike (see table below and EXMIN News Release of July 11, 2007). Local high grade veins assayed as much as 17.5 g/t gold over a width of one metre.

One hole was drilled to test the Balleza target. A 50 metre mineralized interval was intersected along strike from the large surface anomaly mentioned above. Only thirty three samples covering 33.1 metres within this 50 metre long interval were assayed, with several gaps left unsampled. The assayed samples averaged 0.67 g/t gold, and 19 of the 33 samples assayed more than 0.5 g/t gold, and ranged as high as 3.1 g/t gold (see EXMIN News Release of March 13, 2008 for sample data). The entire visibly mineralized interval was not sampled and EXMIN plans to procure and send the non-assayed intervals to the laboratory for analysis.

Quality Assurance

Samples were prepared and analyzed by ALS Chemex and BSI Inspectorate in their facilities in Mexico and Vancouver or Reno, respectively, and by Geoquimica de Mexico at their facility in Chihuahua. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver was analyzed as part of a multi-element ICP package using an aqua regia digestion for Chemex and by AA with aqua regia digestion for Inspectorate. For Chemex, samples with more than 10 g/t gold were analyzed by fire assay with gravimetric finish, samples with more than 100 g/t silver were analyzed by AA, and samples with more than 1,500 g/t silver were analyzed by fire assay and gravimetric methods. For Inspectorate, samples with more than 3 g/t gold were re-analyzed by fire assay with gravimetric methods. For Geoquimica de Mexico, all gold and silver were analyzed by ICP.

Data from Mexican government sources is included only as a guide to the relative tenor of mineralization, and has been partly corroborated by further sampling.

Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration, is the authorized professional geologist for EXMIN Resources Inc. and the direct manager of all technical programs and information on the part of EXMIN.

 Summary of Assay Data for Drill Holes at the Moris Exploration Project ----------------------------------------------------------------------                       From          To    Interval        Au        Ag Hole                    (m)         (m)         (m)     (g/t)     (g/t) ---------------------------------------------------------------------- ---------------------------------------------------------------------- Tecolote Target --------------- HMT-1               126.15      166.90       40.75      0.60       3.4  includes           149.85      166.90       17.05      1.05       2.9  includes           152.60      153.05        0.45      5.35       5.0 HMT-2                99.65      106.05        6.40      0.57       3.9  includes           103.15      103.50        0.35      3.63      18.9                     109.20      113.70        4.50      1.13       2.3  includes           112.30      113.70        1.40      2.21       2.3 HMT-3                82.70       99.35    (i)16.65      0.89       5.7  includes            83.70       84.30        0.60      3.95      16.7 HMT-4               Not assayed - no visible mineralization  Balleza target -------------- HMB-2                18.51       24.30        5.79      0.70       7.0                      57.40       59.47        2.07      0.60       1.9  Mineralized interval with gaps in sampling, 75.06-125.10                      75.06       76.65        1.59      0.74       2.9                      78.75       88.20        9.45      0.84       5.4  includes            84.85       88.20        3.35      1.47      10.4                      88.80       91.65        2.85      1.14       3.6                     101.00      105.20        4.20      0.52       3.6                    105.40      114.90        9.50      0.56       3.3                     115.90      119.10        3.20      0.35       5.1                     122.00      122.85        0.85      0.34       2.7                     123.60      125.10        1.50      0.71       2.5 El Pilar Target --------------- HMF-1                55.60       75.95       20.35      0.05      25.2  includes            58.10       59.15        1.05      0.36     178.0                     114.60      115.25        0.65      8.93     2,360 HMF-2                37.60       40.00        2.40      0.04      42.4                     120.25      120.61        0.36      0.17      62.8                     204.98      205.86        0.88      0.20      69.3 HMF-3                55.49       66.45       10.96      1.40     250.4  includes            55.49       57.32        1.83      0.34     108.0  and                 64.95       66.45        1.50      9.37     3,750                     185.70      186.20        0.50      0.68     101.0                     218.35      219.10        0.75      0.29     101.0                     227.55      233.15        5.60      0.16      40.3  includes           227.55      228.30        0.75      0.13      55.8  and                232.25      233.15        0.90      0.84     191.0 HMF-4                92.80       93.70        0.90      4.65       5.5 HMF-6               190.65      193.30        2.65      0.03     257.9  includes           190.65      191.70        1.05      0.04     524.0 ---------------------------------------------------------------------- (i) A gap of 1.55 meters due to a missing sample was not averaged. The results in this table have been released previously but are  included here for clarity. Averaged data for selected samples from Moris target areas ----------------------------------------------------------------------- Area/Source                             Length   Width      Au       Ag (1)               Location    Samples    (2)(m)     (m)   (g/t)    (g/t) ----------------------------------------------------------------------- ----------------------------------------------------------------------- El Pilar-Mesa de Las Tunas Target Area Ampliacion Finlandia Breccia ---------------------------- EXMIN             surface          19        -     2.0    0.92      206 Hochschild        surface          32        -     1.8    1.09      181 La Blanca vein -------------- Government        Level 1          19       50     0.4    38.2      598 Templar vein ------------ Government        Level 2           7       50     0.4    19.1       69 EXMIN             Level 2           1        -     0.7    7.03       16 Hochschild        Level 2           4       50     0.6    8.01       16 Juana Ines vein --------------- Hochschild        surface          12      150     0.6    4.22      122 Hochschild        1657 level        6       75     0.6    7.17      244 Hochschild        1619 level       18      200     0.6    2.87       70 Hochschild        includes          8      100     0.8    4.81      121 Pedregosa vein -------------- Government        workings         37       50     0.3    29.4      201 EXMIN             dump              1        -       -    29.0      522 Balleza Area EXMIN             surface          50        -     3.0    1.11       19 Hochschild        surface          36        -     2.1    1.25       18 ----------------------------------------------------------------------- (1) The Mexican government sources are state and federal entities that      promote mining. The assays are believed to be reliable but are used     only as a guide to relative grades. (2) The length of samples is measured along the vein, and is generally      not continuous and systematic. 

About The Moris Exploration Project

EXMIN's Moris exploration land package consists of 63 concessions covering about 71,000 hectares in the prolific Sierra Madre gold-silver belt. The land package includes or surrounds six known exploration targets, three of which are nearly completely controlled by EXMIN. The Moris exploration project is separate from the Moris Mine project, and both are separate agreements from the EXMIN-Hochschild strategic alliance which was announced by EXMIN on July 9, 2007.

About EXMIN

EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico as well as in other highly mineralized areas of Mexico.

Hochschild Mining plc has not reviewed this release and is not responsible for the use of project data or the adequacy or accuracy of this release.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

 Contacts: EXMIN Resources Inc. Karl J. Boltz President & CEO 1-866-49-EXMIN (39646)  EXMIN Resources Inc. Investor Relations 1-866-49-EXMIN (39646) Email: info@exmin.com Website: www.exmin.com

SOURCE: EXMIN Resources Inc.

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