SAMEX Reports Encouraging Preliminary Results at El Gringo and Further Expands Drill Program

SAMEX Mining Corp. (TSX VENTURE:SXG)(OTCQB:SMXMF) is pleased to announce strong
copper and gold assay results from its preliminary El Gringo drilling campaign
located at the Los Zorros project in Chile. Hole No10 intersected 22 meters of
.49% copper-equivalent mineralization (.24% copper plus .4 grams per tonne gold)
beginning at surface within a strong leaching zone, while hole No5 intersected 7
meters of hydrothermal breccia with .92% copper mineralization at a depth of 117
meters. Both holes also show strongly anomalous copper and gold values
disseminated throughout multiple other intervals. In light of these encouraging
results, the Company has decided to further expand this phase of its El Gringo
drill campaign by another 800 meters to 2000 total meters. A detailed drill map
and images of these highlighted intercepts have been posted online in the
Coreshack section of www.samex.com. 


The copper and gold encountered thus far belongs to an extensive hydrothermal
cluster system characterized by feldspar porphyry, andesitic intrusives, and
hydrothermal breccias with a strong potassic halo alteration. This
mineralization has shown to be characterized by strong stockwork, veinlets, and
disseminated mineralization beyond two structural block fault-controlled zones.
Drill-core inspection reveals a strong leached zone emplacement at a depth of
roughly 80 meters beneath the paleosurface with copper oxide and disseminated
gold content. It is believed that the mineralized intercepts highlighted above
are cutting branches or limbs of a greater system. Drilling to depths of up to
300 meters will be now required to discover the possible mineralizing source of
this hydrothermal system. 


Pyrite, chalcopyrite, bornite, chalcocite, covellite, chrysocolla, and malachite
are among the principal forms of copper mineralization found at El Gringo. The
alteration is also typical of porphyry-type deposits considering the propylitic
and kaolinitic-argillic-biotitic alteration associated with quartz-pyrite.
Mineralized skarns and breccias have also been noted in this complex
hydrothermal system that is subject to extreme structural dislocations. 


"Taking our cue from these assay results, we have decided to focus the bulk of
our drilling in this next phase on the southwest section of El Gringo. It is
still too early to quantify the potential grade or tonnage of our target source,
however we are very excited to follow up these early findings," notes SAMEX
Chief Geologist Juan Carlos Toro Taylor. 


Assays from multiple holes are still pending and will be announced in due course
once received and properly analyzed. 




El Gringo Drill Hole Table                                                  
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DDH Drill    Depth (m)    Status                                            
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EG-13-001    100          Complete - Anomalous Copper and Gold throughout   
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EG-13-002    202.80       Complete - Anomalous Copper and Gold throughout   
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EG-13-003    111.20       Complete                                          
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EG-13-004    70.80        Complete                                          
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EG-13-005    135.20       Complete - Refer to This Press Release            
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EG-13-006    83.50        Complete                                          
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EG-13-007    TBD          Planned - Secondary Priority                      
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EG-13-008    TBD          Planned - Secondary Priority                      
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EG-13-009    TBD          In Progress                                       
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EG-13-010    120.20       Complete - Refer to This Press Release            
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EG-13-011    TBD          Planned                                           
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EG-13-012    TBD          Planned                                           
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EG-13-013    TBD          Planned                                           
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Juan Carlos Toro Taylor, M.Sc. Economic Geology, Chief Geologist of SAMEX Mining
Corp., is acting as Qualified Person in compliance with National Instrument
43-101 with respect to this release. He has reviewed the contents for accuracy.


All assay information used in conjunction with this news release was provided by
ALS Minerals, an independent, internationally recognized and ISO certified
laboratory complying with the international standards ISO 9001:2000 and ISO
17025:1999.


This News Release includes certain "forward looking statements". Without
limitation, statements regarding potential mineralization and resources,
exploration results, future prospects of the Company, 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
and grade of ore mined; risks associated with development, construction and
mining operations; the uncertainty of future profitability and uncertainty of
access to additional capital. Except as may be required by law, SAMEX undertakes
no obligation to revise or update any forward-looking information as a result of
new information, future events, or otherwise after the date hereof.


FOR FURTHER INFORMATION PLEASE CONTACT: 
SAMEX Mining Corp.
Sasan Sadeghpour
Director, Chairman & Interim Chief Executive Officer
(713) 956-5200, extension 102
2samex@samex .com
www.samex.com
Samex Mining Corp. (TSXV:SXG)
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