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El Alacran Gold Mine Corp. Releases Initial Technical Data for the Alacran-Scorpio Mine

Posted on: Monday, 27 November 2006, 12:00 CST

El Alacran Gold Mine Corp. (PINKSHEETS: EAGM), a precious metal mining company, confirms initial results from the Alacran-Scorpio Mine.

Although the Company has been concentrating recently on the Los Mates Mine in relation to extraction and production of materials, it has also been involved in the initial stages of the Alacran-Scorpio project. Mr. Mario Monroy, the Company's Geology and Geophysics Consultant, released initial technical data pertaining to the Alacran-Scorpio Mine property.

The following statements are directly from the Preliminary Technical Report:

"The Alacran-Scorpio Mine is located in a zone within a tectonic system called The Romeral Fault. Photo geological regional mapping plus field exploration in this area suggests that it is part of an extremely wide basin-form structure with volcano-based mineralization.

"The area has been initially explored by means of pits, trenches, and drilling throughout the various sequences of rocks, finding ores of quartz which confirmed sulfides with 50% pyrite, chalcopyrite, and galena. Gold values reached 2.5 grams per ton at surface/ground level. All testing confirms that this deposit is part of a large volcanogenic sulfide area. It contains gold, silver, and copper in extremely large quantities, along with other precious metals that are yet to be determined.

"El Alacran Gold Mine Corp. has been reviewing, confirming and comparing many of the third-party findings that were performed throughout the neighboring properties and they fall within the same tectonic system and yield the same results. There are many tunnels that were already excavated during the original invasion of artisan miners, which will allow for easy access and initial extraction of materials.

"Gold and copper are the most prominent of the precious metals on the property, accompanied by silver, zinc, lead and chromium."

This mining zone is located in the Municipality of Puerto Libertador, in the northwestern Province of Cordoba, where it is geographically located on the northern-most end of Colombia's Central Cordillera, in a low range of subdued hills known as the Serrania de Ayapel. The region is filled with a dense network of streams and rivers, the principle of which is the north to northeast flowing San Pedro River, which is what confirms this area as a prime location for mining precious metals.

"The Company initially pursued the Alacran-Scorpio property based on third-party exploration results, but, has furthered such studies through additional trenching and pitting," said Rafael Delgado, C.E.O. of El Alacran Gold Mine Corp. "This exploration data from the Alacran and Scorpio areas continue to indicate the presence of significant near-surface gold and massive copper resources. Through more extensive studies, all numbers, calculations and projections will increment by large amounts. In the meantime, we concentrate our production efforts on our newest joint venture with Los Mates Mine."

The Company continues negotiations with various other mines and properties, which will only add to a rich portfolio of projects.

About El Alacran Mining Corp (PINKSHEETS: EAGM)

EAGM is a precious metal mining company engaged in the acquisition, development, and production of properties throughout South America. The Company currently engages in gold, silver and copper mining and related activities, including exploration, extraction, processing, and refining throughout Colombia. El Alacran's staff consists of senior geologists, civil and mining engineers; all of them with extensive experience resulting in the best knowledge to explore and develop the interests of the company.

Forward-Looking Statements

Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for gold; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although El Alacran Gold Mining Corp. believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 Contact:  email - Contact via http://www.marketwire.com/mw/emailprcntct?id=A0F3936819B224F8 Phone - 1800 880 9286 Fax - 416 499 8806  

SOURCE: El Alacran Gold Mine Corp.

Source: MARKET WIRE

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