Samex Mining Corp. has been steadily advancing exploration at its Los Zorros property in Chile. Nine deep core holes drilled in the Nora, Milagro, Milagro Pampa, Colorina and West Florida project areas have provided further insight into a strong hydrothermal copper-gold mineralizing system centered beneath Milagro Pampa: The hydrothermal mineralizing system is centered on an intrusive plug that is likely related to a deeper-seated porphyry copper intrusion.

A prospective, stratigraphic (mantos) exploration target interval related to the Milagro Pampa porphyry intrusion was found to be comprised of limestone sedimentary units positioned just above and below a prominent sedimentary anhydrite bed. Drilling has outlined the spatial extent of mantos mineralization as an area with a diameter of approximately 1,500 meters. A portion of the mantos target measuring approximately 800 meters by 300 meters is yet untested for possible copper-gold sulfide mineralization.

Thicknesses of the mantos layers intersected typically are 5 to 6 meters, and range from less than a meter to 20 meters. Interesting gold/copper sulfide vein intersections were made in many of the drill holes - the vein grades and widths. Anomalous amounts of copper and gold were intersected in drill hole MP- 12-02 over a 583-meter interval (312 to 895 meters depth) averaging 0.157 g/t gold and 571 ppm copper.

This intersection demonstrates the widespread distribution of copper and gold common to the quartz- sericite-pyrite alteration halo at Milagro Pampa. Nine deep core drill holes were drilled in the Nora, Milagro, Milagro Pampa, Colorina and West Florida project areas of the Los Zorros Property. Complete geochemical analytical results are still awaited for several of these drill holes and core from the most recent hole (MP-12-03) at Milagro Pampa is still being logged and sampled.

As a result, this release represents a comprehensive update - further reporting will be forthcoming when additional analytical results are available. Most of the drill holes encountered minor amounts of gold-copper sulfide mineralization hosted both in stratigraphic manto layers and steep veins. From a geologic standpoint, when combined with previously reported drill results for these areas, a coherent picture has emerged of a hydrothermal copper-gold mineralizing system centered beneath Milagro Pampa.

A strong hydrothermal mineralizing system was found by drilling to be centered on an intrusive diorite porphyry plug at Milagro Pampa and likely is related to a deeper (?) seated porphyry copper intrusion (Plate 1). Both mantos-style copper-gold-sulfide and magnetite-specular hematite, and gold-copper sulfide veins were generated by the hydrothermal mineralizing system. The hydrothermal systems also produced well-developed, extensive alteration halos of pervasive quartz-sericite-chlorite-pyrite, albite-quartz-pyrite, and skarn (epidote, diopside-garnet) and concentric zones of anhydrite and quartz-pyrite+/-chalcopyrite stockwork veining.

Drill hole MP-12-03 found that the quartz-sericite-pyrite alteration and quartz-pyrite+/-chalcopyrite veining affecting the diorite porphyry plug at Milagro Pampa extends to great depth (+900 meters). Anomalous metal zoning is also well defined with distal anomalous zinc-silver and proximal copper-gold. The drilling results also hint at the possibility that two other similarly mineralized centers could be positioned to the east of the Colorina project area, and to the west beneath La Florida.

A prospective, stratigraphic (mantos) exploration target interval was found to be comprised of very fine-grained limey sediment (limestone) units positioned just above and below a prominent sedimentary anhydrite bed. Locally, the limey units inter-finger with the anhydrite. These limey units proved to be the most favorable stratigraphic interval for mantos replacement by invading copper-gold sulfide mineralizing solutions.

Drilling results outline the spatial extent of mantos mineralization as a sizeable area with a diameter of approximately 1500 meters. From north to south, four project areas at Los Zorros are positioned with this prospective area and include: Nora, Milagro Pampa, Milagro Mine and Milagro Southwest.