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Acero-Martin Releases Assay Results - 77.55m of 1.83g/t Gold

December 2, 2004
Acero-Martin Exploration Inc. has released assays from its wholly owned Pinaya gold project in southern Peru. The company is now in receipt of gold assays for diamond drill hole PDH-01, which was drilled to a depth of 222 metres at an azimuth of 230 and 248, and an angle of negative 50 and 248, below the main open pit. Copper assays are pending.

Hole PDH-01 tested the depth extension of mineralization located below the open pit where prior sampling returned an average grade of 1.34 grams per tonne (see news release in Stockwatch from Sept. 21, 2004). The highlighted results for hole PDH-01 are as follows.


Hole From To Width Gold
(m) (m) (m) (g/t)

PDH-01 30.80 108.35 77.55 1.83
Incl. 49.50 80.50 31.00 4.14


In addition, diamond drill hole PDH-02, located 50 metres northeast of PDH-01, has been completed. This hole has the same orientation as PDH-01, and was completed to a depth of 241 metres. Hole PDH-03, located approximately 50 metres northwest of PDH-01, has been completed to a depth of 150 metres. Given the results obtained to date, the company has mobilized a second drill to the property to complete the program by the end of the year.

As previously reported in Stockwatch on Sept. 2, 2004, the open pit is within the east-central part of an induced polarization geophysical anomaly that is approximately 200 metres wide and exceeds 1,400 metres in length. The IP anomaly is coincident with a gold soil anomaly with assay values between 100 parts per billion and 3,080 parts per billion gold. Other coincident geophysical and geochemical anomalies occur throughout the surveyed area.

Based on the foregoing, the company has initiated additional ground geophysical and sampling surveys north of the current surveyed area, in order that it may outline the full extent of the geophysical and geochemical anomalies.

The 2004 exploration program at Pinaya is being conducted and managed by Dahrouge Geological Consulting Ltd. under the direction of Jeff Reeder, PGeo, a qualified person under National Instrument 43-101. The company has implemented a quality control program under the direction of James McCrea, PGeo. All samples from the drilling program are being analyzed at SGS Laboratories in Lima, Peru.
 
     
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