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Acero-Martin Announces Positive Preliminary Metallurgical Testwork for Pinaya

May 11, 2007

Acero-Martin Exploration Inc. (“the Company”) is pleased to report that Process Research Associates, under the supervision of Minefill Services Inc. have completed their first pass metallurgical test program on Pinaya drill core samples. 

The program was aimed at assessing the recovery of gold by cyanide leaching to aid in the development of an initial starter pit at the high-grade Gold Oxide Skarn Zone (“GOSZ”).  The work, done in preparation for a scoping study later in 2007 was very successful with the results suggesting that leaching for recovery of gold, either in a heap leach environment, or in a CIP/CIL circuit, is a viable option for extraction of the gold resource at Pinaya.

“We are very pleased with the results from our preliminary metallurgical test work program,” stated Donald Gee Acero-Martin’s President and CEO.  “The objectives of this initial phase of testing have been achieved in that we have demonstrated the potential to obtain excellent recoveries and have several options available for processing.”

The test program consisted of 22 samples weighing about 6 kg/sample from a range of drill holes and sample depths.  Samples were taken from both the Gold Oxide Skarn Zone and Western Porphyry geological targets.  The samples comprised coarse rejects from assaying. 

The samples were subject to 48 hrs leaching in a bottle roll test, at an initial NaCN concentration of 2.0 g/t, at a pH of 10.5.  Recoveries of gold and copper were measured at intervals up to 48 hrs.   The results are summarized below.

Batch 1

  • Head grades varied from 0.05 g/t Au with 1.7% Cu to 1.00 g/t Au with 0.3% Cu.
  • Au recoveries varied from 20% to 97% after 48 hrs
  • Cn consumption varied from 4.3 kg/t to 12.8 kg/t - with 0.10 to 1.37 kg/t Lime
  • Cu recoveries varied from 4% to 93%

Batch 2

  • Head grades varied from 0.09 g/t Au with 1.4% Cu to 2.92 g/t Au with 1.2% Cu.
  • Au recoveries varied from 37% to 97% after 48 hrs
  • Cn consumption varied from 3.15 kg/t to 13 kg/t - with 0.20 to 1.21 kg/t Lime
  • Cu recoveries varied from 5% to 87%

The average gold recovery in the 22 samples was 70%. Gold recoveries were as high as 97% after 48 hours. While reagent consumptions were noted to be high, this is likely the result of the high copper head grades from samples from the WPZ.

Additional testing is planned to specifically target samples from the high-grade portion of the GOSZ.  The additional tests include column leach tests, as well as gravity recovery for coarse gold.  Furthermore, the Company is planning on conducting thin section work to investigate the size of the gold grains and the associated mineralogical occurrences.

The metallurgical testing was undertaken by Process Research Associates (PRA) of Richmond, B.C.  The Qualified Person responsible for oversight of the metallurgical testing is Dr. David Stone, P.Eng. of MineFill Services, Inc., an independent engineering consultant to Acero-Martin.

On September 20th, 2006 Acero-Martin released an independent Mineral Resource estimate for the Pinaya project by Minorex Consulting Ltd.  The report was based on the first 70 holes drilled.  Using a gross metal value cut-off of US$5.50/tonne (based on $1.25 US /pound for copper and $450 US/troy oz for gold) the report estimated that the Gold Oxide Skarn Zone contains an Indicated Resource of 13.87 MT @ 0.29% Cu and 0.42 g/t Au and an Inferred Resource of 7.18 MT @ 0.27% and 0.31 g/t Au.  Using the same parameters, the Western Porphyry Zone was estimated to contain an Indicated Resource of 15.26 MT @ 0.54% Cu and 0.63 g/t Au and an Inferred Resource of 5.54 MT @ 0.60% Cu and 0.55 g/t Au.  Both zones are open for expansion along strike and down dip.

Acero-Martin’s development strategy for the Pinaya project is to fast-track production from the high-grade Gold Oxide Skarn Zone, while continuing to drill and expand the larger copper-rich Western Porphyry Zone, and conducting exploratory drilling on the trend followed by the Montana de Cobre, Minas Jorge, and Don Pedro targets.  Drilling and development work is continuing with two rigs on site and a third scheduled to arrive in June.

About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc is a mineral exploration and development company with projects in North and South America.  The Company is currently focused on developing its flagship gold-copper project, Pinaya, in southern Peru.  Acero-Martin offers investors the opportunity to share ownership in the rapid development of the project to production.  Acero-Martin trades on the TSX-Venture exchange under the symbol ASD and the Frankfurt stock exchange under the symbol AMX.   

ON BEHALF OF THE BOARD

“Donald Gee”
Donald Gee, President and Director

For more information please visit the company website at http://www.acero-martin.com  or contact investor relations at 877-646-0067 or [email protected]

 
     
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