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| | |   Recent Press Releases: Mon Feb 23, 2009: Argentina Exploration Update AuEx is working under an exploration agreement in Santa Cruz Province Argentina. Geologically this is the Deseado Massif that is a world class "Large Igneous Province" with outstanding epithermal precious metal mineralization. It is still very early days in the exploration of this world class province and we expect to see continued development and mining infrastructure in coming years. AuEx now controls 11 cateos and 4 MD's and has a considerable land package that includes altered and mineralized rocks in the Jurassic volcanic hosted rocks of the epithermal environment. Agnico Eagle is sharing generative costs on a 70/30 basis. When a project is defined and acquired Agnico has the option to take it to joint venture whereby they will spend the next 1 million dollars to vest a 60% interest. There are currently two projects in this category including Gertrudis and Meridiano. Meridiano is an MD and is a large ridge of silicification with anomalous gold. Geologic mapping has revealed this to be within a Caldera. Proprietary satellite work that can often distinguish hypogene mineralization from supergene alteration located a zone within the caldera that was 200 m long. This was sampled in detail and was a zone of continuously anomalous gold including multigram values. Further work has now defined a square mile of highly anomalous gold samples in breccias. This is an important target and work is on going to define drill targets to be 100% funded by Agnico Eagle. Gertrudis is a 1km long vein that disappears under the pediment and the possibility of parallel vein zones in the hangingwall of the vein. The vein is anomalous in gold throughout but has higher temperature chemistry going north just before it disappears under the pediment. This is a straight forward drill target. A drilling program has been defined and is undergoing permitting for drilling in 2009. Work is ongoing on other cateos to further define additional projects.
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