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Acero-Martin applies to extend warrants and reduce exercise price

October 12, 2005

Acero-Martin Exploration Inc. (the "Company") announces that it has made an application to the TSX Venture Exchange to extend the term of 606,870 warrants that are set to expire on October 27, 2005 to April 30, 2006 and to change the exercise price from $1.30 per share to $0.75 per share. These warrants were originally issued on January 27, 2005 as part of a private placement.

The company will be entitled to accelerate the expiry date of the warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the common shares of the Company close at a price greater than $1.00 for 10 consecutive trading days at any time before the new expiry date.

The number of warrants held by insiders of the Company will be pro rated amongst this group in order that the total numbers of warrants held by insiders that are subject to the amended terms will not exceed 10% of the total number of warrants issued under the private placement.

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

On Behalf of the Board:
"Donald Gee"

Donald Gee, C.A., Director

For further information, please contact Don Gee, Director of the Company at (604) 618-3433.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

 
     
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