SXG Samex Mining Corp.

SAMEX (TSX VENTURE:SXG)(OTCBB:SMXMF) is steadily advancing the exploration
program at its Los Zorros property in Chile. Drilling since late March includes
over 2,500 meters in 7 holes (two holes are currently in progress) and has
variably encountered disseminated to massive sulphide mineralization including;
pathfinder minerals, favourable sedimentary intervals and structurally
controlled mineralization. Program highlights include:




--  Nora Project, Target Zones A/B - Four deep holes have been drilled, N-
    11-03, -04, N-12-05A and N-12-06A/B. Logging, sampling and assaying have
    been completed on three of the holes and results are discussed below.
    Processing of drill hole N-12-06A/B is still in progress and will be
    reported when completed. Please also see PDF graphics plate at
    www.samex.com for map and section views.

--  Milagro Project - Three deep holes have been drilled, MW-12-01, -02 and
    -03. Logging, sampling and assaying are in progress and will be reported
    when completed. 

--  Colorina Project - A second short drill hole has been completed, MC-12-
    02 and a third drill hole, MC-12-01B is in progress. This hole was
    designed to drill through a low angle thrust-fault and on to test an IP
    anomaly located on the eastern end of Titan 24 line 3. Similar type IP
    anomalies also occur near the eastern end of Titan 24 lines 1 (Virgen de
    Carmen), 2 (east of Nora Zones C/D) and 4 (east Milagro) and may
    represent an important exploration target going forward. 

--  Virgen de Carmen Project - The second core drill rig is currently
    drilling east of the old copper/silver mine workings in the area to test
    for the source and or extension of the near surface mineralization.



Nora Project, Target Zones A/B - At the Nora Project Area, two drill holes
(DDH-N-11-03 and -04) were completed to test for possible
stratigraphically-controlled gold mineralization and also investigate an IP
chargeability anomaly. Based on the mineralization features encountered, two
more drill holes (DDH-N-12-05A and -06A/B) were then positioned further south as
a follow-up test of a prospective package of sedimentary rocks peripheral to a
prominent thick anhydrite layer encountered in both the first two drill holes. A
fourth drill hole (-06A/B) was just recently completed and is currently being
logged and sampled. 


The Nora area includes four zones (A - D) of mineralized barite veins with
strong gold and copper values (less than 0.005 to 17.8g/t Au, 14 to 25,500ppm
Cu). Bulldozer trenching across these zones disclosed near-surface wide
dispersal of anomalous gold values (less than 0.005 to 20.7g/t Au). The geologic
concept being drill tested was that the veins zones could have provided feeder
systems to possible favorable stratigraphic intervals hosting gold and/or
copper-gold sulfide mineralization over a laterally extensive area. Hence, the
IP (high) and near-coincident/slightly deeper resistivity (low) anomalies might
reflect the presence of this style of mineralization.


DDH-N-11-03 was sited within Zone "B" in part to test the concept and IP anomaly
in an area of veining. DDH-N-11-04, though, was located between Zones "B" and
"A" and was thus positioned within an area largely devoid of veins. Interesting
concentrations of pyrite with accessory chalcopyrite were noted with veining
above and in the vicinity of a thick anhydrite layer in DDH-N-11-03. These
features were absent in DDH-N-11-04. This led to DDH-N-12-05A being sited 800
meters to the south within Zone "A" as a stratigraphic test especially of the
anhydrite interval. The latter drill hole intersected thick intervals of strong
albite-quartz, quartz-sericite and calc-silicate alteration - all strongly
pyritized, and cut several well-mineralized (copper-gold sulfide) vein
structures. Importantly in DDH-N-12-05A, three prominent layers of massive
pyrite + chalcopyrite comprising a five meter thickness were intersected
immediately beneath the footwall of the anhydrite layer between 512 to 517
meters (drilling depths). Significant assay results are shown in Table 1.




                                 Approx.                        
                                    True                        
            From      To   Width   Width      Au      Ag      Cu
Hole #        (m)     (m)     (m)     (m)   (g/t)   (g/t)     (%)
----------------------------------------------------------------
N-11-03    384.8   386.7     1.9     1.2   0.279     4.8    1.63
           564.1   567.9     3.8     2.5    0.38    2.97   0.165
N-11-04    545.5   546.5       1     0.7    1.16       3    2.21
N-12-05A  386.75  395.75       9     3.0    1.03    3.52    1.05
             459     462       3     1.5   0.807     3.3    1.96
           514.5     519     4.5     4.2   0.677    1.68   0.375
incl.     516.55   517.2    0.65     0.6   1.985     6.5   2.398



The IP/resistivity anomalies across the central part of the Nora Project area
are caused by strong concentrations of disseminated pyrite comprising the
quartz-sericite pyrite halos to the sulfide veins and calc-silicate-replaced
stratigraphic intervals within Zones "B", "C" and "D". DDH-N-11-04 was located
between Zones "B" and "A" and did not intersect strong alteration or appreciable
disseminated pyrite and only a few sparse sulfide veinlets. The furthest south
drill hole, DDH-N-12-05A found, within Zone "A", much more intense alteration
and pyritization, stronger pyrite-chalcopyrite veining, and appearance of
massive pyrite-chalcopyrite layers in the footwall to the anhydrite layer. These
features combine to point to intensity of alteration and mineralization
improving in a southward direction. 


Further drilling (three holes) to test the prospective anhydrite interval has
been recently carried out in an area located west of the Milagro mine; and core
processing is in progress.


The orientations of the Nora drill holes was optimum for testing the
stratigraphic target idea and geophysical anomalies, however a different
orientation would be required to make complete intersections across
(perpendicular to) the strike of the vein zones (i.e. Zone "A"). Once all the
results are available for DDH-N-12-06A/B, consideration will be given to
attempting drilling down across the entire vein swarm.


Over the past several months there have been considerable delays in receiving
assay results from the lab due in large part to high sample volumes from the
large number of exploration programs in the region. The lab has assured us they
have taken steps to expand their capacity to meet the high volumes and we
anticipate the turnaround time should continue to improve over the coming
months. 


Current drilling at the Los Zorros Property is exploring for gold and silver at
multiple project areas within the Company's extensive land holdings that now
cover more than 100 square kilometers. This round of drilling is following up
exploration results from earlier drilling and is also testing anomalies
identified by the Titan-24 geophysical survey which was completed last year.


The Los Zorros land holdings now cover a 15 kilometer-strike of the prospective
range front/anticline along which mineralization is exposed in old-time
piquenero underground workings, open cuts, trenches and pits situated in the
Colorina, Nora, Virgen del Carmen, Cresta de Gallo, and Trueno project areas
that are yet to be systematically explored by SAMEX.


SAMEX is making steady progress in exploring this large and complex district and
continues to develop a clearer understanding of the controls and influences that
gave rise to mineralization on the property. SAMEX is well funded to advance the
exploration of its high-priority precious metal projects at Los Zorros, while
bringing forward numerous additional targets in the district. The Company holds
a portion of its working capital in the form of gold and silver bullion. 


The geologic technical information in this News Release was prepared by Robert
Kell, Vice-President Exploration for SAMEX MINING CORP. and Philip Southam,
Geologist. Mr. Kell and Mr. Southam are "qualified persons" pursuant to Canadian
Securities National Instrument 43-101 concerning Standards Of Disclosure For
Mineral Projects. 


Robert E. Kell, Vice President - Exploration

This News Release includes certain "forward looking statements". Without
limitation, statements regarding potential mineralization and resources,
exploration results, and future plans and objectives of the Company are
forward-looking statements that involve various risks. Actual results could
differ materially from those projected as a result of the following factors,
among others: risks inherent in mineral exploration; risks associated with
development, construction and mining operations; the uncertainty of future
profitability and uncertainty of access to additional capital.

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