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Acero-Martin pleased with La Mamita geochemical results

September 19, 2005
Acero-Martin Exploration Inc. has released encouraging geochemical results on its wholly owned La Mamita gold project located in Ancash mining department in Northern Peru.

The La Mamita gold project covers an area of 1,000 hectares and is underlain by sedimentary rocks belonging to the Cretaceous-age Chimu and Chicama formations. Previous rock chips from the property returned values ranging from 0.23 gram per tonne to 6.37 g/t gold, averaging 1.43 g/t Au.

A recently completed soil grid covering an area of approximately 125 by 125 metres was established to cover the area of anomalous rock chips. Due to the lack of rock exposure, the geochemical survey was undertaken to determine the orientation and extent of the gold mineralization. In total, 36 soil samples were collected at 25-metre intervals, with results ranging from 17 to 2,438 parts per billion gold (2.44 g/t Au), and which averaged 236 parts per billion Au or 0.236 g/t Au. Fifteen samples taken within this zone outlined a northwest-striking zone of gold mineralization, which is approximately 75 metres wide and open along strike. Within this zone, the soil samples average 475 parts per billion Au or 0.475 g/t Au. As previously mentioned, prior rock chips taken from this zone averaged 1.43 g/t Au. The company is extremely encouraged by these results and plans to expand the geochemical survey, to be followed by geological mapping and hand trenching.

The company also wishes to report that it is in receipt of all surface rock, soil and trench samples collected from its Pinaya gold project. The data are currently being compiled and will be reported on shortly.

The company is also pleased to announce that it is arranging, subject to regulatory approval, a private placement of up to one million units at a price of 60 cents per unit. Each unit will comprise one common share and one-half of a share purchase warrant, with each whole warrant exercisable to purchase one additional common share at a price of 75 cents for a six-month period from the date of issuance. Proceeds of the private placement will be used to continue the exploration on the Pinaya copper and gold project in Southern Peru and for general working capital of the company. The financing remains subject to TSX Venture Exchange acceptance. A finder's fee may be paid in connection with certain subscribers to this placement.
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