Plexmar Resources Inc.: Peru Update

QUEBEC CITY, QUEBEC -- (Marketwire) -- 03/21/12 -- Plexmar Resources Inc. (TSX VENTURE: PLE)

The Company wishes to inform its shareholders of recent changes to the Peruvian mining law. Starting on March 16th 2012, illegal mining is now defined as an offence punishable by imprisonment as per legislative decree no.1100. This illegal activity, which until last Friday was only an administrative offence in the country also includes the extraction, exploitation, transportation and processing. In addition to setting penalties of up to 10 years in prison, the decree establishes mechanisms of formalization for all informal miners.

The informal miners and local community officials have contacted the Company's local representatives to plan how the miner's formalization process and surface rights agreement can be executed in a timely manner. The Company and the community will now have to work hand in hand to formalize all the illegal miners on Plexmar concessions. Meetings between stakeholders will be held in the coming days to discuss details of the formalization process and the surface rights agreement to allow exploration. The Company is eager to start the formalization process with the informal miners on the Bolsa del Diablo project and start the implementation of the infrastructure and social programs proposed to the Pampa Larga community.

"The Company wishes to work with local miners and residents to improve their basic needs and offer a safe and stable work environment. The new decree will benefit all the stakeholders," comments Guy Bedard, president.

Plexmar will keep updating the information as it advances its negotiations with the community.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

PROFILE
Plexmar is a junior company focused on precious metals in Peru

PROPERTIES
Gold: Peru: Oro Del Norte, Marilia, Bolsa Del Diablo,

CORPORATE INFO
228 M shares outstanding, Symbol: PLE (TSX-V)



Contacts:

Plexmar Resources Inc.
Guy Bedard, President
418 658-6776