Canamex Resources Update on Status of Projects
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/08/13 -- Canamex Resources Corp. ("Canamex" or the "Company") (TSX VENTURE: CSQ)(OTCQX: CNMXF)(FRANKFURT: CX6) updates the status of the Bruner Gold Project, Nye County, Nevada, and the Aranka North Gold Project, Guyana, South America.
Bruner Gold Project, Nye County, Nevada
In the fourth quarter of 2012, a total of eleven reverse circulation drill holes (B-1209 thru B-1219) and one diamond drill hole (B-1208C) were completed at the Penelas East discovery area for a total of 2,920 meters (9,578 feet) of drilling. Drilling was completed mid-December, and the Company expects to be in a position to announce all drill results by the end of January. A follow-up drill program is currently being planned, and drilling is expected to re-commence in March, depending upon winter weather and spring thaw conditions.
Aranka North Gold Project, Guyana, South America
Soil sampling via hand auger holes one meter deep on 100-meter spacing across eight square kilometers of the Ridge Anomaly has identified two prominent gold-in-soil anomalies: Ridge North Anomaly and Ridge South Anomaly. The Ridge South Anomaly has overall dimensions of 1 kilometer wide by 1.8 kilometers long, and trends in a NNW direction towards the Ridge North Anomaly, which is 0.8 kilometers wide by 1.2 kilometers long. These two anomalies are separated by a distance of approximately one kilometer. The South Ridge Anomaly has ATV trail access to it and has been the focus of follow-up power auger drilling on 100-meter spacing to sample below the one meter depth of the hand auger soil sampling program. A total of 35 power auger holes out of a 120-hole program were completed before the holiday break, and a total of 90 soil samples have been delivered to the prep lab in Georgetown, Guyana for ultimate assaying at Acme Analytical Laboratories in Vancouver, Canada. The field program will re- commence in mid-January. The balance of the power auger drill holes are expected to be completed by the end of February, with all results anticipated to be in by the end of March.
Cash Position
The Company had in excess of $4.1 million cash on hand on December 31, 2012, and believes it is sufficiently financed to carry out its exploration work plan at both projects into early 2014.
CEO Robert Kramer Comments
"2012 was a pivotal year in Canamex's development. We wish to thank our shareholders for their support, and look forward to building on the results of last year during 2013," stated Company Chairman and CEO Robert Kramer.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
Robert Kramer, CEO and Director
Forward-Looking Statements:
This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward- looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward- looking statements for any reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Canamex Resources Corp.
Robert Kramer
CEO and Director
(604) 336-8621
www.canamex.us
Renmark Financial Communications Inc.
Erica Lomonaco
(514) 939-3989 or (416) 644-2020
elomonaco@renmarkfinancial.com
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
www.renmarkfinancial.com