News! 43-101+300%Animas Announces Three-Fold Increase in Gold ResourceEstimates for the Santa Gertudis Project from thePrior NI 43-101 Report
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2010) - AnimasResources Ltd. (TSX VENTURE:ANI) is pleased to report that Mr. Alan Noble,P.E., Principal Engineer for Ore Reserves Engineering ("O.R.E."), completeda review and updated several of the historic gold resource estimates atSanta Gertrudis to NI 43-101 compliant resource estimates. The updated NI43-101 compliant resource estimates for seven gold deposits at SantaGertrudis, plus the previous estimate for the Cristina deposit, containinferred resources of 557,000 ounces of gold. The updated resourceestimates represent an increase of over 300% from the NI 43-101-compliantresource estimate filed on July 2, 2009 and are all in the inferredresource category, as summarized in Table 1, and are consistent withhistorical resources estimates for these deposits. A revised NI 43-101Technical Report to be filed on www.sedar.com within 45 days./T/Table 1Inferred Resource Estimates for the Santa Gertrudis Project----------------------------------------------------------------------------Cutoff Tonnes Grade ContainedDeposit (ppm Au) (1,000's) (ppm Au) Ounces Gold----------------------------------------------------------------------------Trinidad 0.30 1,100 1.69 59,900Escondida 0.30 1,389 1.16 52,000Greta 0.30 800 2.41 62,000La Gloria 0.30 500 2.68 43,100Tigre 0.30 350 1.94 21,900Tracy 0.30 500 2.42 38,900Dora 0.30 1,200 2.53 97,600Mirador 0.30 520 1.80 30,100----------------------------------------------------------------------------Total O.R.E. Oct 2010 Estimates(1,2,3,4,5,6) 0.30 6,359 1.98 405,500----------------------------------------------------------------------------Cristina (MDA 2009) (1,5,7,8,9) 0.30 7,139 0.66 151,500----------------------------------------------------------------------------Project Total 0.30 13,498 1.28 557,000----------------------------------------------------------------------------1. CIM definition standards were followed for the resource categoryestimates.2. The 2010 resource models by O.R.E. use inverse-distance-power (IDP)grade estimation within three-dimensional block models with mineralizedenvelopes defined by wire-framed solids. Grade zones were defined usingnearest-neighbor assignment. A block size of 2x2x2-meters was used forthe block models.3. A total of 48,815.47 meters of drilling in 574 drill holes were used inthe 2010 resource estimates by O.R.E. The majority of the drilling isreverse circulation (RC) drilling.4. Dilution is included for a minimum mining width of 2.0 m in the 2010estimates O.R.E. Estimates for reserves will require additional dilutiondepending on the mining method and selectivity.5. Mineral Resources that are not mineral reserves do not have economicviability6. Resources may contain sulfide material that may be significantly lesseconomically viable than oxide material.7. The 2009 resource model for Cristina, by MDA, used IDP grade estimationwithin mineral zone outlines interpreted on N60 degrees E looking cross-sections. A block size of 6x6m horizontally and 3m vertically was usedfor the block model.8. A total 7,159 meters of drilling in 13 core holes and 58 RC holes wereused for the Cristina estimate.9. MDA resource parameters/methodology are detailed in the previouslyreleased Animas NI 43-101 report on Santa Gertrudis.10. Additional drilling and geologic modeling will be necessary to upgradethese resources to indicated or measured status./T/Cutoff Grade & MetallurgyThe resource size is sensitive to an assumed cut-off grade, which is, inturn, very sensitive to metallurgical operating costs. Cuff-off grades usedin this study are reasonable given historic operating data and currentmarket conditions.Mineral Resources are not ReservesMineral resources that are not mineral reserves do not have demonstratedeconomic viability. Mineral resource estimates do not account forminability, selectivity, mining loss and dilution. These mineral resourceestimates are inferred mineral resources that are normally considered toospeculative geologically to have economic considerations applied to themthat would enable them to be categorized as mineral reserves. There is alsono certainty that these inferred mineral resources will be converted tomeasured and indicated mineral resource categories through furtherdrilling, or into mineral reserves once economic considerations are applied.Quality AssuranceThe mineral resource estimate was completed by Mr. Alan C. Noble, P.E.,principal engineer of Ore Reserves Engineering, and is based on geologicalinterpretations supplied by the Company to ORE and subsequently modified byORE. Mr. Noble is an independent qualified person for the purposes ofNational Instrument 43-101 standards of disclosure for mineral projects ofthe Canadian Securities Administrators and has verified the data disclosedin this release.Gregory E. McKelvey, President of Animas Resources Ltd. commented: "We arepleased that the gold resources in these deposits are remarkably close tothe historic resources. We focused on the largest of the known depositswith an eye to identifying which deposits might be potentially consideredfor gold production."About Animas Resources Ltd.Animas Resources Ltd., a North American mineral resource company focused onacquisition and discovery, consolidated the Santa Teresa District's SantaGertrudis precious metal and related deposits and prospects within a 562square kilometer land holding. Our mission is to grow Animas Resourcesthrough discovery and acquisition of high-quality mineral deposits and tobuild upon the historic gold resource base at Santa Gertrudis, Mexico, andmaintain a pipeline of only the highest quality projects. Golden Arrow andKinsley Mountain are the most recent additions to the Animas explorationproperty portfolio.This news release was prepared by Company management, who take fullresponsibility for its content. The technical disclosure in this pressrelease has been reviewed by Dr. Roger Steininger, a Qualified Person asdefined by National Instrument 43-101 of the Canadian SecuritiesAdministrators.You may register to receive future news releases at www.animasresources.com.Gregory E. McKelvey, President & DirectorThis press release contains "forward-looking information" which mayinclude, but is not limited to, statements with respect to drilling plans,timing of our planned NI 43-101 resource report, timing of assays, resourceestimates, projections, our planned exploration and drilling programs, theavailability of future financing for exploration and other plans,projections, estimates and expectations. Such forward-looking statementsreflect our current views with respect to future events and are subject tocertain risks, uncertainties and assumptions, including, the risks anduncertainties outlined in our most recent financial statements and reportsand registration statement filed with the Canadian securitiesadministrators (available at www.sedar.com). Should one or more of theserisks or uncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those anticipated,believed, estimated or expected-30-FOR FURTHER INFORMATION PLEASE CONTACT:Animas Resources Ltd.Gregory E. McKelveyPresident & Director604-687-6197604-688-3392 (FAX)www.animasresources.comNeither TSX Venture Exchange nor its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.