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Acero-Martin alters board; awaits Pinaya permit

October 4, 2005
Acero-Martin Exploration Inc. (the "Company") is pleased to provide the following update on the exploration program at its Pinaya Copper-Gold Porphyry Project in Southern Peru. Since acquiring the project in May 2004, the Company to date has completed a total of 20 diamond drill holes for a total of 4079 meters. In total 2991 samples have been taken from drill core and 2689 samples have been taken from trenches and surface outcrops. The Company also completed an extensive geophysical program consisting of induced polarization and magnetic surveys. Currently all data is being complied and the company has contracted an independent Geologist to prepare a technical summary on the project following the guidelines outlined in National Instrument 43-101. The report will summarize all work done to date and provide recommendations for the next phase of exploration. The report is expected by the end of October.

The Company has recently completed a socio-economic and environmental study of the area affected by the project as part of the requirements for obtaining the next stage exploration permit from the Peruvian government. This study was carried out by Vector Engineering's Lima office and the report was submitted to the Ministry of Mines in Lima as well as to regional ministry offices in Arequipa and Puno during July. Included in the Vector report were results from surface and underground water samples taken by hydrogeology contractor Ground Water International, also based in Lima. In early September, the company received formal comments and questions from the Ministry of Mines related to its permit application. The Company has now complied with and addressed all questions and comments and has re-submitted the permit. The permit includes an application for over 150 new drill holes. Approval of the permit is expected shortly and the Company anticipates the drilling program to commence before month end.

The Company remains committed to maintaining good relations with the members of the Pinaya community located approximately ten kilometers east of the project area. As part of this commitment the Company hired Lima based Social Capital Group to carry out a stakeholder mapping study of the area. This process included carrying out several interviews with local and regional interest groups, both governmental and non governmental, to obtain feedback on the project and mining activity in general. The Company is pleased with the high level of participation and interest showed by the residents of Pinaya and is looking forward to developing further its social commitment program. Interviews carried out by Social Capital Group revealed that community residents generally favor the development of the project and the Company is committed to increasing its social involvement in the community.

Jeff Reeder, P.Geo, and James McCrea, P.Geo, are the qualified persons under National Instrument 43-101 for the Pinaya project, and are supervising the quality-control and quality-assurance program.


Directors

The Company is pleased to announce that Greg Hall has been appointed to the Board of Directors and Kent Pearson has resigned as a Director. Mr. Hall is a seasoned financial market professional with 24 years experience as a broker, senior executive officer and founder of a number of successful brokerage firms. Mr. Hall has also had extensive experience as a board member and executive director for a number of Canadian and US public and private companies.

Warrant Exercise

All of the warrants exercisable at $0.60 (935,500 warrants) have now been exercised.

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 exploration projects: Red Mountain in the Yukon Territories and Pinaya in southern Peru.

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

On Behalf of the Board:

"Jeffrey Reeder"
Jeffrey Reeder, President and Director
 
     
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