June 24, 2008
Mexoro Minerals Commences Drilling at the Guazapares Project in Chihuahua, Mexico
CHIHUAHUA, Mexico, June 24 /PRNewswire-FirstCall/ -- Mexoro Minerals Ltd. (BULLETIN BOARD: MXOM) is pleased to announce that a 6,000 meter diamond drilling program is underway at the Guazapares project, located in Chihuahua, Mexico. The drill program will test alteration and mineralization targets, as well as additional areas identified during a drill campaign completed in December 2007.
There are three main target areas that include San Antonio (SA), San Francisco (SF), and El Cantilito (EC). Drilling will initially test alteration and mineralization centers located along these structural trends. The high priority target is where SA, SF and EC mineralized structures intersect each other in the central part of the project area (drill holes GU-20, GU-22 and GU-23 are located within that target). Continuation along strike and at depth of the SA, SF and EC mineralized structures will be tested with this second stage diamond drilling program. Drilling will consist of 150-200 meter drill holes, with deeper drilling reserved for areas that show the best results.
In addition, targets Montana de Oro (MO) and Blanquita (BT) -- which were identified during recent detailed mapping and geochemical sampling program at 1:1 scale -- will be also tested during this drill program.
Barry Quiroz, VP Exploration for Mexoro, commented, "The last round of drilling completed in December 2007 at Guazapares, reported very attractive gold and silver mineralization. We are very excited about the extension and intersection of these three mineralized structures in the central part of the project that may represent a large mineralized system. The geology and mining history in the district, combined with our exploration work and results indicate that there is a significant potential for a new discovery."
Mexoro Minerals Ltd. is a precious metals mining exploration company focused on the development of advanced stage projects in the Sierra Madre Gold/Silver belt in Chihuahua, Mexico. Mining operations are through a 100%-owned Mexican subsidiary, Sunburst de Mexico, S.A. de C.V. ("Sunburst Mexico"). Sunburst Mexico owns or has options on three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. Mexoro recently signed an LOI announcing a Strategic Alliance with Paramount Gold and Silver Corp (AMEX/TSX: PZG).
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. Forward-looking statements in this press release include our belief the extension and intersection of these three mineralized structures in the central part of the project that may represent a large mineralized system. Furthermore, we believe that the geology and mining history in the district, combined with our exploration work and results indicate that there is a significant potential for a new discovery. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Contacts: Mexoro Minerals Ltd. Mario Ayub, President Investor Relations (613) 288-4288
Mexoro Minerals Ltd.
CONTACT: Mario Ayub, President, or Investor Relations, both of MexoroMinerals Ltd., +1-613-288-4288