TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2005) - Amerix Precious Metals Corporation (TSX VENTURE:APM) announced today that it has discovered gold mineralization at a new target, Carumbe, on the Vila Porto Rico Property in Para State, Brazil.
The Carumbe target, located 1.1 km west of Nova Brasilia, is formed by sulfides and carbonates associated with quartz veins (pyrite, chalcopyrite and bornite). Carumbe is similar to the Nova Brasilia target, as the mineralized zone is also associated with acid schistosed rocks, striking NS to N10W and dipping sub-vertically (see October 25, 2005 Press Release). Grab samples from Carumbe returned assays of 57.47, 20.72, 1.86 and 5.34 grams per tonne (gpt) gold. Garimpeiro workings close to the Carumbe target enhance the potential of the area as all of the material (vein and encasing rock) is processed for the recovery of gold.
Grab sampling in the area of Nova Brasilia and the Aracati garimpeiro pit continued. Four additional samples taken by Amerix geologists were rich in sulfides and carbonates associated with quartz veins and returned assays of 29.68, 4.31, 27.74, and 5.64 gpt. The mineralized zone has been consistently traced over an additional 500 meters and has now been identified for 1 km along strike. Amerix estimates the total length of the mineralized zone could be greater than 2 km.
The Carumbe and Nova Brasilia prospects are north of the Pacu River in the southwestern part of Para State. Amerix intends to drill the new prospects together with other geochemical targets which are being developed in the same area.
"The continuing sampling program north of the Pacu River provides further support that our 40,000-hectare Vila Porto Rico property, which encompasses the Novo Brasilia, Carumbe and Ouro Roxo prospects, should be a key exploration focus for Amerix," Mr. Andrews said.
The chemical analyses on the samples were performed by Lakefield/Geosol of Belo Horizonte, Brazil, an ISO/IEC 17025 and ISO 9002 certified assayer.
The technical and scientific information contained in this press release has been reviewed by John Andrews, P.Eng. (Ontario), a Qualified Person within the meaning of National Instrument 43-101. Mr. Andrews is President and Chief Executive Officer of Amerix.
Amerix also announces that it incurred a loss of $0.02 per share in the financial year ended July 31, 2005 and that the annual audited Financial Statements and Management Discussion & Analysis have been completed and are available for review at www.sedar.com.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario corporation that explores for precious metals in Brazil and Mexico. Santo Domingo, the Mexican property, is a silver-gold project about 90 km north of Guadalajara. Vila Porto Rico and Limao, the Brazilian properties, are gold projects in the Tapajos Gold Province in Brazil. The Company's shares trade on the TSX Venture Exchange under the symbol "APM".
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