News Release No. 1-07, February 20th, 2007

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All potential target sizes and grades are based on models developed by the Company using available geological and geophysical information which, although thought by the Company to be a reasonable explanation for the occurrence of identified mineralization in the INCA area, has yet to be proven by drilling and other exploration activities. The potential quantity and grade of the targets is based on geological models which are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in the targets being delineated as mineral resources.

Except where otherwise expressly noted, the assays and exploration results referred to in the technical information are based upon historic data which, although thought to be accurate, have not been independently verified by SAMEX and will need to be confirmed by further exploration.

The technical information presented here has been prepared/reviewed by Robert 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.