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Drill Results for the 2004 Drill Program at Pinaya

January 19, 2005
Acero-Martin Exploration Inc. ("the Company") is now in receipt of assay results for 8 NQ diamond drill holes totalling 1,420 m. completed during November and December, 2004 at its wholly owned Pinaya Gold Project, Peru. In addition, the company conducted additional Magnetic and Induced Polarization (IP) geophysical surveys, and soil geochemistry at the property.

The primary target of this phase of drilling was a coincident induced polarization geophysical and geochemical anomalies associated with the main gold zone. The holes were spaced at approximately 50 metre intervals. As previously reported (December 2, 2004) PDH-1 intersected 121.95 m of 1.21 g/t gold and 0.25% copper. This interval also contains 1.06 g/t silver. Hole PDH-2, which was located 50 m northeast of PDH-01, intersected 149.20 m of 0.31 g/t gold and 12.41 g/t silver, including 42.50 m of 0.80 g/t gold, 7.18 g/t silver and 0.21% copper. PDH-07, about 100 m southeast of PDH-01, contained 85.50 m with 1.37 g/t gold and 2.00 g/t silver. Hole 8 was located about 50 m northeast of PDH-07. All holes were drilled to the southwest at -50. Other results are summarized in the following table.

Hole From (meters)  To (meters)  Width (meters)  Gold (g/t)   Silver (g/t) Copper (%)
PDH-01 30.80 152.75 121.95 1.21 1.06 0.25
Incl. 30.80 108.35 77.55 1.83 1.01 0.16
Or 49.50 80.50 31.00 4.14 0.92 0.26
Incl. 108.35 152.75 44.40 0.11 1.15 0.40
PDH-02 10.30 159.50 149.20 0.31 12.41* 0.09
Incl. 10.30 48.60 38.30 0.14 29.23* 0.03
Incl. 127.50 159.50 42.50 0.80 7.18* 0.21
Or 146.00 159.50 13.50 2.00  0.71  0.08
And 172.90 204.80 31.90 0.09 2.72 0.24
PDH-03 0.00 79.25 79.25 0.85 0.58 0.09
Incl. 37.75 70.50 32.75 1.43 0.71 0.14
And 118.25 146.00 27.75 0.07 0.79 0.31
PDH-04 38.70 68.70 30.00 0.50 1.46 0.08
Incl. 58.20 67.20 9.00 1.01 1.33 0.10
PDH-05 0.00 89.30 89.30 1.00 14.16* 0.09
Incl. 0.00 38.10 38.10 0.63 26.07* 0.04
Incl. 53.20 89.30 36.10 1.75 7.12 0.16
And 102.80 139.10 36.30 0.16 2.12 0.19
PDH-06 25.65 41.55 15.90 0.55 0.96  0.13
And 150.00 156.00 6.00 0.07 53.11* 0.02
PDH-07 0 85.50 85.50 1.37 2.00 0.13
Incl. 38.25 76.50 38.25 2.57 1.52 0.20
PDH-08 0 4.50 4.50 1.38 0.70 0.12
And 99.50 123.50 24.00 0.71 0.90 0.15

* Interval contains incomplete analytical results. One or more samples exceeded the detection limit of 100 g/t Ag. Interval contains incomplete analytical results. One or more samples exceeded the detection limit of 1 % Cu.

To date the mineralization within the vicinity of the open-pit has been tested along a strike length of approximately 250 m and to a maximum depth of 150 m. The trend was previously defined along a strike length of more than 1,400 m by a coincident IP geophysical anomaly and a gold-in-soils anomaly. Recent geophysical surveys have extended this IP geophysical anomaly to about 2,200 m length. Near its north end, it consists of an approximately 400 m diameter chargeability anomaly coincident with a resistivity anomaly that exceeds 400 m by 1000m.

A similar anomaly has been located a short distance to the east. This anomaly has a general north-northwest trend, is up to 400 m wide, and exceeds 4,000 m length. Both anomalies converge to the east-southeast of the open cut, where they are roughly semi-circular in shape with an approximately diameter of 1,500 m.

Based on the styles of mineralization and alteration observed to date, the Company believes the IP geophysical anomaly located to the east-southeast of the open cut may represent a gold-copper porphyry system.

Further details on the recently completed soil geochemistry program and on the IP geophysical survey will be released when available. In addition, the company anticipates that the second phase of drilling at the Pinaya Gold Project will commence within the next 4 to 6 weeks.

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 analyses were completed by SGS Lima (ISO 9001:2000 certified laboratory). Samples were assayed for Gold (FA30) and ICP (total digestion), those anomalous in copper were re-analyzed with Atomic Absorption (three acid digestion). A quality control program of standards, blanks and duplicates has been maintained. All checks are satisfactory, although a small percentage of the sample duplicates reveal differences of more than 5 per cent for gold assays ("nugget effect").

About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc. is an exploration company, which is focused in locating and defining economic precious metals deposits. Currently the Company has two gold projects: Red Mountain in the Yukon Territories and the Pinaya Project in southern Peru.

This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

 
     
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