NAMEX EXPLORATIONS
INC.
PRESS
RELEASE
Montreal, February 19, 2008
TSX Venture Exchange: NME
Property Up
Dates
Namex is pleased to report the results of its 2007 exploration work
programs.
The
Huffman Property:
Namex is most encouraged with the results of the channel sampling
carried out on the Huffman Property.
A 200 m. by 40 m. band of anomalous gold values has been outlined in a
finely mineralized intrusive felsic porphyry. Gold values range from 0.20 g/t to
1.34 g/t. This area has never
been explored and this pathfinder makes the potential of outlining a deposit
amenable to open pit extraction possible.
Grab samples taken in 2006 (see press release of December 14, 2006)
encountered up to 92.6 grams/tonne gold, 1,620 grams silver/tonne, 8.63% copper,
12.6% lead, 2.3% zinc, and 5.9% antimony over a narrow width. This mineralization which is hosted by
a
narrow quartz vein in a felsic porphyry can now be characterized as an
epithermal style of mineralization based on its contained accessory ankerite,
anglesite, azurite, malachite and tetrahedrite mineralization.
The
two shallow drill holes, 92.8 m. and 99.9 m., completed in November 2007, tested
the central portion of the exposed 200 m. strike length of this zone. Drilling encountered anomalous gold
mineralization averaging 200 ppb within a pyritic alteration halo and the down
dip (plunge) extension of the narrow quartz vein zone at a depth from 90.0 to
91.1 m. which gave 1.22 g/t gold, 13.2 g/t silver, 0.11% copper, and 0.10
%
antimony. Namex is very encouraged
by these results. Epithermal
veining of this type and the associated finely disseminated pyrite are often
indicative of favourable mineralizing environments associated with felsic
porphyritic intrusions of this type. The geology and controlling structures
are now known to be a continuation of those which control the mineralization
at
the former Jerome Gold Mine, 10 km. to the west, and are also considered to be
extensions of the richly endowed Cadillac-Larder Lake deformation zone which hosts the famous gold
deposits of the Timmins and Kirkland Lake areas.
The
2007 Mobile Metal Ions ("MMI") soil geochemical survey has also identified a
new
gold anomaly 300 m. east along trend from the 2006 discovery zone. This new zone
250 m. long by 50 m. wide has a response of 180 times "background" within
the same range as those from the 2006 survey. A single high gold response, 144 times
background was also obtained 10 m. from the edge of Huffman Lake, 210 m. west of the original
discovery.
The
association of the anomalous gold with the fine-grained disseminated pyrite will
also allow Namex to utilize induced polarization or "IP" geophysical surveys
to
outline zones of higher pyrite concentrations along the entire structure (
including under the lake) to target future sites for stripping and drilling.
Additional MMI sampling will also
be conducted on extensions of the currently gridded area.
The
Golden Pine Property:
The
2007 exploration program on the Golden Pine East Property has extended to 475
m.
the MMI anomaly originally defined for 200 m. in 2006. This strong anomalous
gold-in-soil anomaly has responses between 100 and 1,100 times background. Namex intends to test this anomaly with
a
program of stripping followed by channel sampling as soon as conditions
permit.
The
Post Creek Property:
On
the Post Creek Property, earlier than expected frozen ground conditions
precluded the planned MMI survey to further explore the extension of the Whistle
Offset, which hosts the FNX Podolsky Mine, plus the zinc-copper area to the
west. This work will be carried
out
in the spring.
The
Woods Creek Property:
On
the Woods Creek Property, Namex cut several one half m. channel samples on the
Raven's Cliff showing. Assay
results of +0.5% copper and +0.5% nickel confirm the presence of nickel-copper
mineralization. Further follow up
sampling is planned for the spring as Namex investigates the relationship of
this mineralization to that on the neighboring Ursa Major orebody. Namex will also conduct local MMI surveys
over areas identified to be underlain by stratigraphy favourable to hosting
Elliot Lake type uranium
occurrences.
Oliver T. Maki is the qualified person overseeing the Namex
exploration programs and has approved this press release.
For further information, contact:
James W. Hess, President
4333 Ste. Catherine St. West,
Suite #610
Montreal, Qu?bec
H3Z 1P9 Canada
Tel: (514) 935-2445 Fax (514) 935-8161
E-mail: info@otmining.com Web
site: http://namex-explorations.com
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy
of
this news release. This release
was
prepared by the Company's management who take full responsibility for its
contents. Some statements contained in this release are forward-looking
and, therefore, involve uncertainties or risks that could cause actual results
to differ materially. The company
disclaims any obligation to update forward-looking
STATEMENTS.
