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Gold/Mining/Energy : Samex Mining | OTC:BB - SMXMF | Canada - V.SXG -- Ignore unavailable to you. Want to Upgrade?

To: Travbfree who wrote (400)	1/28/2000 7:35:00 PM
From: Travbfree	Read Replies (1) \| Respond to of 539

SAMEX Mining Corp. ("SAMEX" SXG-V) and International Chalice Resources Inc. ("Chalice" IRI-V) have jointly commenced an exploration program on the El Desierto Trend properties situated along the Bolivian/Chilean border. The properties cover a 25-kilometer trend of eroded stratovolcanoes and range-front fault structures. The range-front faults host broad zones of pervasive clay-alunite-alteration and appear to have been altered by acidic/sulfurous hydrothermal fluids. This is evidenced by the historic small-scale mining of native sulfur from some of these zones. Consequently, exploration will focus on delineating targets for bulk-tonnage, low-sulphide/adularia-sericite-type epithermal gold and acid-sulfate-type gold (copper) deposits. Higher in the system, a large volume of hematite (an oxidation product of pyrite and chalcocite [copper]) has eroded from the bowl of a stratovolcano and as a result the trend of stratovolcanoes will also be explored for porphyry copper deposits. The properties are situated in a very favourable geologic and structural setting, approximately 20 kilometers northeast of the world-class Collahuasi and Quebrada Blanca porphyry copper mines in Chile. SAMEX recently granted Chalice an option to earn up to a 35% joint venture interest by expending a total of US $500,000 on the property over a period of 30 months (see SAMEX news release No. 16-99 dated November 10, 1999 for details). Chalice has advanced US $141,500 towards the first option payment to initiate the first phase of exploration on the property. The exploration program will be conducted by SAMEX under the guidance of a joint SAMEX/Chalice management committee. The initial program will include road construction, geologic mapping, trenching, sampling and geochemical analysis with the objective of defining drill targets for the next phase of exploration. Jeffrey P. Dahl Vice Chairman