EXMIN/Yale Drilling Encounters Gold and Silver at the Urique Project, Chihuahua, Mexico

Market Wire, June, 2008

EXMIN Resources Inc. (EXMIN) (TSX VENTURE: EXM) is pleased to announce that assay results have been received for the first two holes of the diamond drill program at the Urique project. Hole UCC-08-1 cut 6 metres with 0.23 grams per metric ton (g/t) gold and 82.6 g/t silver, and hole UCC-08-2 cut 7.2 metres with 0.18 g/t gold and 95.8 g/t silver. Both holes had smaller intervals with more than 100 g/t silver (see table of assays below).

The drill program was completed in early May for a total of 1706.2 metres of core in eleven holes (see Yale News Release of May 9, 2008). Nine of the holes tested the Cerro Colorado target area for a total of 1363 metres, and two holes totalling 343 metres were drilled at the San Pedro target. EXMIN was the operator of the program, and utilized the core rig that was acquired by Globexplore Drilling and Exploration of Hermosillo, under an agreement for drilling services announced in a News Release of December 7, 2006.

Dr. Craig Gibson, Co-Founding Executive Vice President of Exploration for EXMIN, stated, "We are very excited by these drill results. They are similar to the assay results that we have from surface and trench sampling and suggest that the Cerro Colorado structure in the vicinity of the El Vergel mine may host a bulk tonnage silver deposit."

Cerro Colorado Target

The Cerro Colorado target, at the northern end of the Urique project, consists of a 2.5 kilometre long mineralized structural zone. Four areas of mineralization with past mining activity have been identified at El Vergel, Mina Guadalupe, La Minitas (Ampliacion Guadalupe) and Las Taunas. Assays of as much as 9.1 metres of 5.46 g/t gold and 4 meters of 337 g/t silver have been encountered in surface samples and trenches (see Yale News Release of February 15, 2007).

The drill program tested the structure at three areas over an approximate 2 kilometre strike length at vertical depths ranging from 10 to approximately 150 metres. The first two holes reported here were drilled in the northern part of the target area near the El Vergel mine. Samples from several trenches in this area have yielded wide zones of silver-gold mineralization (see Yale News Release of February 15, 2007) similar to the assays from the drill holes.

Assay data for two core holes from the El Vergel area, Cerro Colorado Target

-----------------------------------------------------------
             From     To  Width(1)    Au     Ag  Ag equiv(2)
Core Hole      (m)    (m)      (m)  (g/t)  (g/t)       (g/t)
-----------------------------------------------------------
-----------------------------------------------------------
UCC-08-01   50.00  56.00     6.00   0.23   82.6        94.1
 including  52.00  54.00     2.00   0.15  122.5       130.0

UCC-08-02   50.80  58.00     7.20   0.18   95.8       105.0
 including  50.80  54.00     3.20   0.36  118.0       136.0
-----------------------------------------------------------
1-Widths are measured along the core axis; the holes were
  designed to be approximately perpendicular to the structure,
  but true widths have not been calculated.
2-Silver equivalent has been calculated using a 50:1 ratio
  in the gold:silver price without taking into account
  variable recoveries and NSR, which are assumed to be 100%.

About the Urique Project

The Urique project is located in the prolific Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, next to the Barranca de Cobre (Copper Canyon) and includes sixteen concessions covering 29,100 hectares (please visit www.exmin.com to view project maps). The project includes the town of Urique, an historic, small scale, silver producing area, similar to Batopilas, and is within a region with several active exploration and mining projects including the El Sauzal mine (Goldcorp), and exploration properties of Dia Bras, Paramount Gold and Silver, and Kimber Resources. Paramount's Andrea project and Kimber's Monterde project land package were staked up to the Urique project land boundaries.

The Urique project is the subject of an earn-in joint venture between EXMIN Resources and Yale Resources, whereby Yale can earn up to a 75% interest. Yale may earn an initial 60% interest in the project by making expenditures of US $2.8 million in exploration and issuing 1 million shares to EXMIN over four years, and can earn an additional 15% interest by investing US $1.7 million in exploration and issuing 500,000 shares to EXMIN in the fifth year. EXMIN is the project operator.

Quality Assurance

Samples were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 2-7 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver was analyzed as part of a multi-element ICP package using an aqua regia digestion. Silver in drill samples with anomalous initial silver values were reanalyzed using a 4 acid "total" digestion and AA.

Core samples are split lengthwise into two approximately equal portions; one half is sampled and sent to the analytical lab, and the second half is retained and stored on site at the joint venture's field office near the project. The joint venture has conducted an internal quality control/quality assurance program consisting of insertion of standard and blank samples in the drill core sample stream.