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Acero-Martin Announces Closing of First Tranche of Non-Brokered Private Placement

April 2, 2008

Acero-Martin Exploration Inc. (TSX-V: ASD; Frankfurt: AMX) (“Acero-Martin” or the “Company”) announces that, further to its news release dated February 29, 2008, it has closed the first tranche of its non-brokered private placement, issuing a total of 3,554,000 Units at a price of $0.25 per Unit for a gross proceeds of $888,500.

Each Unit consists of one common share of the Company (“Share”) and one share purchase warrant (“Warrant”).  Each warrant entitles the holder to purchase one Share of the Company for a period of 24 months after the closing date at a price of $0.35 per Share for the first 12 months and at a price of $0.50 per Share for the next 12 months thereafter.

In connection with the closing of the first tranche, the Company has paid cash finders’ fees in the amount of $71,400.  All of the securities issued pursuant to the private placement, including any shares issued on the exercise of warrants, are subject to a four-month hold period expiring August 3rd, 2008. 

The Company has stated its intention to raise a total of $1,500,000 through the private placement of 6,000,000 Units.  The closing of a subsequent tranche is anticipated to follow.

The proceeds of the private placement will be used for the continued exploration and development of the Pinaya gold-copper project in southern Peru and for general working capital purposes.

The Company also announces that it has received acceptance by the TSX Venture Exchange to re-price a total of 3,349,091 warrants, which expire on December 1st, 2008, from $0.50 to $0.35. The Warrants were issued on November 30th, 2007 as part of a private placement.

About Acero-Martin Exploration Inc.

Acero Martin’s 100%-owned Pinaya project hosts one of Peru’s newest and richest copper-gold porphyry/skarn deposits. The project is located 110 km northeast of Arequipa and approximately 60 kilometers south of Xstrata’s Tintaya copper-gold mine, and is favoured with excellent nearby mining infrastructure. 

In September of 2006, based on the first 70 holes drilled, an initial independently calculated NI 43-101 resource estimated that Pinaya hosts an Indicated Resource of 29.13 million tonnes grading 0.53 g/t gold and 0.42% copper and an Inferred Resource of 12.72 million tonnes grading 0.41 g/t gold and 0.41% copper.  This equates to approximately 498,000 troy ounces of gold and 269,000,000 pounds of copper in the Indicated category, and 168,000 troy ounces of gold and 115,000,000 pounds of copper in the Inferred.

As of March 2008, the Company has completed an additional 79 holes bringing the project total to 40,900 meters and 149 holes.  Drilling since the release of the initial resource continues to work to expand the size of the deposit and test new zones of mineralization. Alongside the drilling the company is currently completing a preliminary economic assessment (“scoping study”) to determine the potential for, and economic parameters of, developing a starter open pit mining operation.  Acero-Martin trades on the TSX-Venture exchange under the symbol ASD and the Frankfurt stock exchange under the symbol AMX.

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

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the Company by Cary Pothorin, P.Geo, Acero-Martin’s Vice President of Exploration, a qualified person.

ON BEHALF OF THE BOARD OF DIRECTORS

Donald Gee” 
Donald Gee
Director

 
     
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