EXMIN Restarts Metallurgical Testing on High-Grade Gold Bearing Rock From the Reyna De Oro Mine, Chihuahua, Mexico

EXMIN Resources Inc. (EXMIN) (TSX VENTURE: EXM) is pleased to announce the restart of metallurgical test work on gold-rich mineralized rock from the historic Reyna de Oro mine as part of the ongoing evaluation of the Reyna de Oro project. EXMIN has also been approached by private investors potentially interested in producing from small, at or near surface, high grade gold occurrences, via earn-in joint venture or outright purchase.

Two bulk samples were taken from the tabular mineralized body that was previously identified by two drilling campaigns conducted by EXMIN and have been delivered to the metallurgical testing facility. Sample RDO-MET 1 consisted of 216.45 kilograms and assayed 2.25 grams per metric ton (g/t) gold and sample RDO-MET 2 consisted of 222.91 kg and assayed 7.15 g/t gold (please see table below for complete assay data).

The cyanide leach characteristics of the bulk samples will be determined by bottle roll and column leach tests to determine the viability of producing gold from the mineralization exposed at and near the surface. EXMIN had preliminary tests completed in 2006, at the facilities of the Servicio Geologico Mexicano (the Mexican Geological Survey), in Chihuahua. The tests consisted of bottle rolls of two composites from reverse circulation drill cuttings obtained from EXMIN's previous drill programs. These two samples responded well to cyanide leaching, yielding recoveries of 87.81% and 90.06% over 72 and 48 hours, respectively (see Table 1 below).

Karl Boltz, Co-founding President, CEO and Director for EXMIN, stated, "The Reyna de Oro project was one of our first projects as a private company and later as a newly public company. Drill programs we conducted in 2004 and 2005 were successful in identifying mineralization on the property. EXMIN drilled the mineralization that is exposed in the historic mine area and that is contained within a 20 hectare concession block. We developed a high confidence level in the deposit, where the mineralization was drilled, although we have not yet completed the work required to qualify an NI 43-101 compliant resource at the former mine."

Since 2004, EXMIN's ongoing regional exploration has identified large-scale targets on the surrounding 14,800 hectare project land package, including a potentially significant eastern extension of the mine mineralization. The metallurgical testing of bulk samples being taken will help EXMIN qualify an NI 43-101 compliant resource for the Reyna de Oro project. Initial metallurgical testing in the form of bottle rolls on pulverized drill cuttings indicates that the material tested is amenable to cyanide leaching."

Reyna De Oro Project

The Reyna de Oro project, located in the prolific Sierra Madre Precious Metal Belt in southwestern Chihuahua State, was one of the first acquired by EXMIN. The project land package consists of 7 concessions, covering 14,800 hectares, in a well mineralized region adjacent to the land packages of several producing mines or development and exploration projects, including the El Sauzal mine (Goldcorp), the Bolivar property (Dia Bras), Bahuerachi (Jinchuan, formerly Tyler Resources), and Urique (EXMIN-Yale joint venture).

EXMIN was recently awarded an additional 140 hectares contiguous to the existing concessions in a lottery that was originally scheduled for January, 2006, but was delayed due to legal challenges. These concessions cover a portion of a large structural zone with epithermal gold-silver mineralization extending from east of the Reyna de Oro mine to La Currita; grab samples taken by EXMIN in the area assayed as much as 5 g/t gold and 1,080 g/t silver.

The Reyna de Oro project covers multiple mineralized areas and hosts high quality exploration targets of several types, including bulk tonnage gold targets such as at the Reyna de Oro mine and the Reyna east extension, intrusion-related copper and polymetallic mineralization in veins surrounding a granodiorite stock east of the Reyna de Oro mine, as well as structural zones that host epithermal gold-silver mineralization at Balojaque, south of the Reyna de Oro mine and La Currita, to the north.

EXMIN's regional exploration work has determined that the large granodiorite intrusion east of the Reyna de Oro deposit is the likely source of the mineralization in the area, and the large area of alteration and mineralization in the rock surrounding the intrusion suggests that a large porphyry related mineralized system, similar to that explored by Tyler Resources at Bahuerachi (recently purchased by the Chinese company Jinchuan Group), located 10 km to the southwest, may be present. Please see EXMIN News Release of November 9, 2005, for more information.

Reyna De Oro Mine

Many small mine workings and several old rustic mills attest to the mining history at Reyna de Oro. Gold-bearing mineralization, consisting of moderate to strong quartz veins and stockworks as well as silicification, exhibits both stratigraphic and structural controls and is largely hosted by a relatively flat-lying sequence of clastic and volcaniclastic rocks. Multiple sampling programs over a 15 year period defined a gold mineralized zone measuring approximately 300 metres along strike and about 75-100 metres down-dip. Most exploration and mining activity to date has concentrated on a 250 metre long portion of the mineralized zone because of existing access. Two phases of reverse circulation drilling were successfully carried out by EXMIN, in 2004 and 2005, confirming the previous exploration results in this part of the deposit: most holes intersected 20-30 metre intervals with 1.5-3 g/t gold, and several significant 5-18 metre intercepts yielded as much as 4-7 g/t gold (see table of drill results below).