Amerix Options Concessions Adjacent to Limao Gold Property, Brazil
TORONTO, ONTARIO, May 14, 2012 (Menafn - MARKETWIRE via COMTEX) --Amerix Precious Metals Corporation, (frankfurt:NJGN) ("Amerix" or the "Company"), is pleased to report that it hasentered into an agreement ("the Agreement"), whereby Amerix hasoptioned adjacent exploration properties (2 property groups)immediately to the west of the Company's 100% owned Limao GoldProperty ("Limao Property"), located in the Tapajos Gold Province,Para State, Brazil. The Company's geologists believe there isfavorable gold exploration potential at these properties, consistingof almost 7000 hectares and located along the Tocantinzinho goldtrend of Brazil.
The terms of the Agreement allow for staged payments to the localvendors consisting of cash (Brazilian Reals ("R") R1,000,000) andAmerix common shares (650,000 shares) over 4 years followed bysuccess payments of R500,000 for positive Feasibility Studies ateither of the properties. In the event of a production decision ateither of the properties, a payment of R1,000,000 will be payableupon reaching commercial production. In addition a 1.0% Net GoldSales Royalty will be payable to the vendors.
The Agreement is subject to the approval of the TSX Venture Exchange,the approval of the Company's Board of Directors and is subject todue diligence by Amerix over a 6 month period.
Amerix plans to investigate the projection of structural featuresthat may extend across these new properties. These structures arebelieved to control gold mineralization at the adjoining LimaoProperty. The Company's exploration team will also be focused uponold surface workings indicated from historical reports on the region.The Company's work will initially consist of reconnaissance mappingand grab sampling followed by localized geochemical grid sampling inareas of interest.
Amerix has recently contracted Energold Perfuracoes Ltda, of Brazilto complete a drill program at the Limao Property. Drilling isexpected to begin over the next few weeks. Amerix's explorationprograms at the Limao Property have delineated multiple, anomalousgold geochemical zones with three zones outlined in an earlier pressrelease (News Release-2012-05 dated April 18, 2012) to be tested inthis initial drill campaign.
Mr. Ryan Grywul, P. Geo., Vice President, Corporate Development forAmerix, and a qualified person as defined in National Policy 43-101is responsible for all technical information contained in this newsrelease.
Amerix is excited by the potential of the Limao Gold Property andthese adjacent concessions located in the historically gold richTapajos district of Brazil.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario company, managed byan experienced team, exploring for precious metals in Brazil.Amerix's objective is to create value for shareholders through thedelineation and expansion of bedrock gold resources, and realizationof value from placer and tailings gold resources at the Company'sproperties. Brazil has significant gold potential and is a provenmining-friendly country. Amerix will continue to seek explorationproperties of merit via staking, acquisition or merger. The Company'sshares trade on the TSX Venture Exchange under the symbol "APM" andat the Frankfurt Stock Exchange under the symbol "NJGN".
Disclosure Regarding Forward-Looking Statements: This press releasecontains certain "Forward-Looking Statements" within the meaning ofapplicable securities legislation. All statements, other thanstatements of historical fact, included herein are forward-lookingstatements that involve various risks and uncertainties. There can beno assurance that such statements will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company's expectationsare disclosed in the Company's documents filed from time to time withthe TSX Venture Exchange and, among others, the Ontario SecuritiesCommission as well as under the heading "Risk Factors" in theManagement Discussion and Analysis.
Neither the TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Amerix Precious Metals Corporation
President and Chief Executive Officer
Amerix Precious Metals Corporation
Chief Financial Officer
SOURCE: Amerix Precious Metals Corporation
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