Plexmar Resources Inc V.PLE

What happen to this?

[anon3]

Another broken promise? As you read please note the following; date and the number of outstanding shares compared with todays number Press Release March 29th 2005 PROFILE Plexmar is a junior company focused on precious metals: diamonds and gold PROPERTIES Gold : Oro Del Norte, Marilia, Bolsa Del Diablo in Peru Diamonds Otish Mountains CORPORATE INFORMATION - 46 M shares outstanding - Symbol: PLE (TSX-V) For more information, please contact: Guy Bédard, president 418 658-6776 Tel [phone] Fax e-mail : [e-mail] website : www.plexmar.com UNDER CONSTRUCTION PLEXMAR TO INSTALL PROCESSING PLANT IN NORTHERN PERU SAINTE-FOY, QUEBEC- Plexmar Resources Inc. (TSX-V:PLE), is pleased to announce that it has decided to install a gold processing plant near its exploration properties located in Northern Peru. Plexmar is currently looking at different potential sites to install and operate the plant. According to a survey, there are at least 700 miners working in the districts of Suyo, Sapallica, Paimas and Ayabaca and there are at least 70 ‘quimbaletes’ (big circular stone used like a grindstone to crush the ore to a fine powder) in operation in those areas. We estimate that, within a 15 kilometer radius of our projects, approximately 100 tons per day is being mined with grades varying from 2 grams to 15 grams of gold per 30 kg pail, equivalent to 67 to 500 g/ton Au or 2,15 to 4,82 ozs/ton, US$914 to $2,048 per ton. This number is expected to grow significantly as more local people are becoming miners and more gold rich veins are being found. The artisan miners sell their gold rich ore between US$300 to US$350 per ton to buyers who in return ship it to processing mills located as far as Ica, Arequipa and Nazca, some 1,500 Km away. It is Plexmar intentions to consolidate this market. A number of sites are currently being considered to host the plant. Budget quotes have been asked from engineering firms in Lima to design, move and build the new plant. Ore material is currently being taken from different workings and will be shipped to a metallurgical lab for preliminary leaching tests. Once a site is selected, the permitting process will be initiated. Plexmar already owns a 100 ton per day plant located near the town of Trujillo. The plant was designed to process sulphide ore using flotation cells. Plexmar will dismantle and use as much equipment as possible from this plant and move it to the new site. For the local communities and the artisan miners, there are numerous benefits on having a plant nearby. First the plant will train, employ local people and create local economic windfalls. Second, the miners will be able to mine lower grade ores, as of now, the material grading under 1 ounce per ton is not touched and considered waste. Third, the plant will eliminate the need for the miners to use mercury which is a health and environmental hazard. Fourth, the Company will train the miners in health, safety and help them improve their productivity. Plexmar holds approximately 40 km2 of land that form the Bolsa del Diablo property in Northern Peru. An alteration system of significant size, a minimum of 4 km2, has been identified within the property. All samples collected so far are anomalous in gold with values ranging from 14 ppb to 119,5 g/t Au. Preliminary observations suggest the presence of a large scale epithermal system. 2 All the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places throughout the property. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release -30- FOR FURTHER INFORMATION PLEASE CONTACT: Paradox Public Relations 1-866-460-0408 1-514-341-0408