An evaluation of drilling results of DDH-EK-99-02 and DDH-EK-01-11 clearly has provided a "Rosetta Stone" for understanding the precious-metal mineralization system at Cerro Eskapa and generated a solid geologic model to guide further exploration drilling.  Within the expansive area of the eroded-out core zone of the Cerro Eskapa stratovolcano, gold-bearing, high-grade, copper-silver-antimony-bismuth sulfide/sulfosalt mineralization has been discovered to be preserved intact (uneroded) within vuggy silica rock starting at a vertical depth loosely constrained below 140 and above 400 meters.  In the deep intersection made by DDH-EK-01-11, this mineralization occurs as veins and veinleted rock and is surrounded by distinct argillic and advanced-argillic alteration envelopes, and outlying haloes containing highly anomalous mercury and high levels of base and pathfinder metals.  Individual sulfosalt/sulfide veins are of massive character and contain up to 1.18 grams/metric ton gold, 6.1% copper, 1,890 grams/metric ton silver, 2.9% bismuth, and 4.2% antimony for a recovered 0.30-meter intersection width (+/-$650.00 (U.S.)/metric ton, gross value).  A second type of veinlet (silica-barite) was found to contain 1.28 grams/metric ton gold, but with relatively lower silver and copper values.  The gold values may prove to substantially increase and attain high grades elsewhere along the zones. 

Though the recovered widths of the veins are narrow, they give the first important glimpse of the nature and tenor of massive sulfosalt/sulfide veins at depth.  Ten different prospective zones (I-X) with clear potential to host this style of gold-bearing, high-grade, copper-silver-antimony-bismuth-rich mineralization at depth, have been identified.  Geologic mapping has demonstrated a surface strike-length extent of the zones in excess of 11.50 cumulative kilometers providing a substantial volume of highly prospective rock that may host bonanza grade ore.  These prospective zones are all characterized at the surface, and in shallow mine workings, by similar alteration features, strongly anomalous levels of pathfinder metals (i.e. mercury), and locally high concentrations of silver-lead-antimony sulfosalt mineralization (with very low gold and weakly anomalous copper content) hosted in a central core of pyritiferous vuggy silica-barite rock.  Other than DDH-EK-01-11, located toward the far east end of Zone III, the prospective zones have yet to be drill tested to similarly deeper depths (>200 meters).  A recommended 4,500 meter, 12 hole core drilling program will test at depths of up to 400 meters along prospective Zones I-II, III, IV, V, IX, and X at a cost of approximately US $1,000,000.  The drilling program will comprise a multi-hole attempt to discover thick zones and veins of much enhanced gold content (+10 grams/mt) carried with very high-grade copper-silver-antimony-bismuth mineralization. 

The long strike lengths, great depth continuity, and possibility for greater widths, especially where hosted by hydrothermal breccia, suggest that large cumulative tonnages (>25 million metric tons) of gold-bearing, high-grade, copper-silver-antimony-bismuth ore could be discovered along the zones.  The style of mineralization, alteration features, and geochemical zoning patterns demonstrate key features of a precious-metal- and copper-mineralized zone typical of a high-sulfidation/acid-sulfate system.  A group of important, gold and gold-silver-copper deposits scattered along the Cordillera Occidental of South America from Peru down into Chile and Argentina belongs to this type of mineralized system.  Of these, El Indio-Tambo (Chile) and Choquelimpie (Chile), both appear to bear many geologic similarities observed at Cerro Eskapa.  Cerro Eskapa is the first documented example of a large high-sulfidation/acid-sulfate, precious-metal-bearing, mineralized system occurring in the Cordillera Occidental of Bolivia.  SAMEX looks forward to securing the funding to advance exploration on this precious metal prospect.

This Abstract has been prepared by Robert E. Kell, Vice President - Exploration for SAMEX Mining Corp.  Mr. Kell is a “qualified person” pursuant to Canadian Securities National Instrument 43-101 concerning Standards Of Disclosure For Mineral Projects.

This Abstract includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: risks inherent in mineral exploration; risks associated with development, construction and mining operations; the uncertainty of future profitability and uncertainty of access to additional capital.