Samex Mining Corp. announced strong copper and gold assay results from its preliminary El Gringo drilling campaign located at the Los Zorros project in Chile. Hole No10 intersected 22 meters of 0.49% copper-equivalent mineralization (0.24% copper plus 0.4 grams per tonne gold) beginning at surface within a strong leaching zone, while hole No.5 intersected 7 meters of hydrothermal breccia with 0.92% copper mineralization at a depth of 117 meters.

Both holes also show strongly anomalous copper and gold values disseminated throughout multiple other intervals. In light of these encouraging results, the Company has decided to further expand this phase of its El Gringo drill campaign by another 800 meters to 2,000 total meters. The copper and gold encountered thus far belongs to an extensive hydrothermal cluster system characterized by feldspar porphyry, andesitic intrusives, and hydrothermal breccias with a strong potassic halo alteration.

This mineralization has shown to be characterized by strong stockwork, veinlets, and disseminated mineralization beyond two structural block fault-controlled zones. Drill-core inspection reveals a strong leached zone emplacement at a depth of roughly 80 meters beneath the paleosurface with copper oxide and disseminated gold content. It is believed that the mineralized intercepts are cutting branches or limbs of a greater system.

Drilling to depths of up to 300 meters will be now required to discover the possible mineralizing source of this hydrothermal system. Pyrite, chalcopyrite, bornite, chalcocite, covellite, chrysocolla, and malachite are among the principal forms of copper mineralization found at El Gringo. The alteration is also typical of porphyry-type deposits considering the propylitic and kaolinitic-argillic-biotitic alteration associated with quartz-pyrite.

Mineralized skarns and breccias have also been noted in this complex hydrothermal system that is subject to extreme structural dislocations. All assay information used in conjunction with this news release was provided by ALS Minerals, an independent, internationally recognized and ISO certified laboratory complying with the international standards ISO 9001:2000 and ISO 17025:1999.