NEWS RELEASE
UPDATE ON EXPLORATION AREAS III & IV, LOS ZORROS, CHILE
SAMEX commenced trenching and sampling in early October within Exploration Area III at Los Zorros, focusing first on the area overlying the NORA high-grade gold target which was previously described in news releases No. 8-05 & 9-05 dated September 9 & 14, 2005.
The purpose of this exploration work is to expose and sample parts of zone A along the western side and zones C, D & E in the northeastern part of Exploration Area III (see accompanying Figure A in News Release No.11-05 at www.samex.com , new trenches in yellow). These prospective zones have been historically prospected with numerous small mine workings and consist of multiple narrow veins and mantos intervals containing interesting gold and copper mineralization that may represent leakage up off a well-mineralized system at depth. The eastern-most anomalous gold zone, and the other zones, may prove to comprise an important guide to deeper seated high-grade gold mineralization. Hence, the trench results will be important in planning Phase II exploration core drilling in the Nora target area. Approximately 1,700 meters of trenches will be excavated and channel sampled.
Concurrent with the above exploration, detailed geologic mapping is under way in Exploration Area IV following the recent property acquisition there (see news release No. 6-05, June 30, 2005). The mapping will be followed up by trenching and sampling once the bulldozer is finished in Exploration Area III/NORA target.
Results of the current program will be incorporated
into the existing project database and will assist in the selection of drill
locations for Phase II drilling. Exploration at Los Zorros is under
the supervision of SAMEXs Vice President of Exploration, Rob Kell, who is a
qualified person pursuant to Canadian Securities National Instrument 43-101
concerning Standards Of Disclosure For Mineral Projects.
Jeffrey P. Dahl,
President
This News Release includes certain "forward looking statements". 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.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.