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Acero-Martin Exploration restarts drilling at Pinaya

March 22, 2005
Acero-Martin Exploration Inc. has restarted drilling at its Pinaya project, located in southern Peru. It is anticipated that up to 12 diamond drill holes will be completed over the next three months. Each of the holes will be between 200 and 350 metres in depth for an estimated total of 3,500 metres. Drilling will be completed by GeoDrill S.A of Arequipa.

The drilling will concentrate on two main targets. The first is a copper-gold porphyry system that is believed to underlay the surface mineralization observed at Pinaya. Induced polarization geophysical surveys indicate that a porphyry system may underlay the valley to the southeast and east of the open cut.

The second target is the northwesterly extension of the gold mineralization, where prior drilling had intersected significant gold mineralization, such as in PDH-01, with 31 metres of 4.14 grams per tonne Au, 0.26 per cent Cu, and 0.92 gram per tonne Ag (see news in Stockwatch Feb. 16, 2005). In addition, exploration has revealed coincident geophysical and geochemical anomalies associated with the open cut exceeding one kilometre in strike length. Drilling will step out over a distance of 300 and 400 metres northerly from the eight holes completed in December, 2003.

The company will also continue the geophysical program in order to better define the induced polarization anomalies that are still open along strike. The company will also amplify its program of surface sampling over those anomalies in order to bring them to drill-ready status.

Vern Arseneau, PGeo, and James McCrea, PGeo, are the qualified persons under National Instrument 43-101 for the Pinaya project and are supervising the quality control and quality assurance program.

The company also wishes to announce that it has appointed Jeffrey Reeder, PGeol, as president and chief executive officer of the company. Mr. Reeder graduated with a bachelor of science in geology from the University of Alberta and is a professional geologist with over 17 years of experience in all facets of mineral exploration. Mr. Reeder has worked extensively throughout North and South America.

Donald Gee will assume the role of chief financial officer. Mr. Gee has over 25 years of experience as a chartered accountant in private and public company management and consulting. Mr. Gee's past positions were of chief financial officer for a Toronto Stock Exchange gaming company and financial adviser to a national aerospace company. He is a member of the Chartered Accountants of British Columbia and a member of the Canadian Institute of Mining and Metallurgy.
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