Amerix Commences Drilling At Vila Porto Rico In Brazil

Business Wire, Nov 16, 2004

TORONTO -- AMERIX PRECIOUS METALS CORPORATION (TSX VENTURE:APM) is pleased to announce that drilling has commenced at its Vila Porto Rico property in western Para State, Brazil. Mineracao Vila Porto Rico, Amerix's wholly owned Brazilian subsidiary, has commenced a 5,000-meter program at Ouro Roxo North and Ouro Roxo South. The initial diamond drilling will take place at the Ouro Roxo North Deposit where a total of 1,000 meters will be drilled in six holes. These holes will extend the drill grid started by RTZ/CRA in 1995 and 1996 on the 429.5 North, 200 North and 100 North Sections. It is expected that this phase of the program will be completed by the end of January 2005.

The results from the prior drilling on these sections are presented in the attached table and a geological report describing the RTZ/CRA drilling program was filed on SEDAR on December 19, 2003.

The Corporation is also pleased to announce that the first phase of geochemical sampling program at Ouro Roxo South has been completed. The results from the geochemical program will assist in the determination of the drill sites for the second phase of the drilling program that will commence immediately after the completion of the program at Ouro Roxo North.

The technical and scientific information contained in this press release have 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 the Corporation.

Amerix's Santo Domingo project, near Guadalajara, Mexico, is in the final stages of the approval process for a land use agreement. After the permit has been issued, Amerix and its joint venture partner, Stroud Resources, intend to move forward with the construction of a road and their drilling program.

Amerix Precious Metals Corporation is an Ontario corporation that explores for precious metals (gold & silver) in Brazil and Mexico. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM." Amerix was formerly New Bullet Group Inc. and changed its name and domicile on May 31, 2004.

The Corporation's website is http://www.amerixcorp.com/

Disclaimer:

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and the Ontario Securities Commission.

Hole    Section  Hole Bearing    Interval       Thickness  Gold Assay
Number  Line     & Inclination   in meters      (Meters)   (Grams per
                                                           Tonne)

                 45 degrees
FOR-15  429.50N  to west         106.76-107.49       0.73        4.74
                                 135.80-137.90       2.10        4.81
                                 161.33-161.83       0.50        2.32

FOR-17  429.50N  90 degrees      124.88-129.72       4.84        2.22
                                 187.50-188.78       1.28        0.36

                 60 degrees                   Drillhole did not
FOR-26  429.50N  to west                      intersect the ore zone
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                 60 degrees
FOR-07     300N  to west           4.00-8.38         4.38        3.55
                                 22.70-23.70         1.00        1.06
                                 30.00-31.00         1.00        1.90
                                 37.28-45.28         8.00       11.41

                 45 degrees
FOR-11     300N  to west         32.14-33.45         1.31       11.30
                                 91.87-96.57         4.70       28.12

                 60 degrees
FOR-02     300N  to west         51.96-52.96         1.00        4.02
                                 58.00-59.00         1.00        1.33
                                98.03-105.00         6.97        3.05
                               112.00-115.12         3.12       28.74
                 or             98.03-115.12        17.09        6.59

                 65 degrees
FOR-08     300N  to west         69.81-70.82         1.01        1.14
                                 77.35-78.20         0.85       15.58
                               115.65-117.77         2.12        3.64
                               144.08-150.80         6.72        3.14
                               167.00-167.63         0.63       32.20

                 60 degrees
FOR-25     300N  to west       196.03-196.58         0.55        1.18
                               199.33-200.39         1.06        1.10
                               205.16-207.29         2.13        1.43
                               321.80-324.73         2.93        0.98
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                 45 degrees
FOR-13     200N  to west         10.62-11.55         0.93        1.97
                                  49.75-50.8         1.05        1.04
                                   89.7-92.2         2.50        1.85
                               111.25-112.53         1.28        1.54
                               122.73-125.15         2.42       51.60
                 or            111.25-125.15        13.90        9.27

                 60 degrees
FOR-21     200N  to west       152.46-153.33         0.87        8.84
                               240.42-241.19         0.77       12.73
                               272.35-272.59         0.24        3.00
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                 60 degrees
FOR-23     100N  to west         36.45-39.36         2.91        4.43

                 55 degrees
FOR-19     100N  to west         24.25-26.79         2.54        3.00
                                 31.30-33.55         2.25        1.80
                                 70.76-72.70         1.94        3.43
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                 60 degrees
FOR-01      70N  to west         47.85-53.77         5.92        0.47
                               114.00-115.00         1.00        3.71
                               126.00-128.00         2.00        8.88