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2006 Exploration Program Initiated and Gold-Copper Mineralization Expanded at Pinaya

January 20, 2006
Acero-Martin Exploration Inc. has secured Geodrill SA, based in Arequipa, to continue drilling on the Pinaya copper-gold project in Southern Peru. One rig will commence drilling by the end of the month and a second rig is scheduled for mid-February. Initial drilling will continue to expand upon the copper and gold mineralization at the Western Porphyry area. Subsequent drilling will expand upon the gold-copper skarn mineralization located in the open-pit area. Further mapping and sampling will continue on the gold zone located in the Montana de Cobre zone in advance of drilling.

The company is releasing assay results from the four core holes drilled in late 2005. Drilling focused on the Western Porphyry target area, with a total of 1,061 metres drilled. Hole PDH-021 returned 41 metres of 0.84 g/t Au. Hole PDH-22 returned 52.60 metres of 0.62 per cent Cu (including 22.8 metres of 1.09 per cent Cu). It should be noted that the copper mineralization is in the form of copper oxides and copper sulphides as chalcocite. The results are summarized in the table below.

Drill Hole From (m)  To (m)  Interval (m)  Au (g/t)   Cu (%)
PDH-021* 54.00 76.00 22.00 0.34 0.03
" 76.00 117.00 41.00 0.84 0.08
PDH-022 137.00 189.60 52.60 0.07 0.62
includes 144.80 167.60 22.80 0.13 1.09
PDH-023 25.00 62.35 37.35 0.21 0.16
" 196.80 232.00 35.20 0.07 0.47
" 244.00 253.00 9.0 0.93 0.09
" 280.00 290.00 10.00 0.01 0.36
PDH-024** 169.84 174.00 4.16 0.04 1.42
" 175.06 192.46 17.40 No Sample No Sample
" 192.49 204.00 11.51 0.01 0.29

* Hole 21 was lost in a fault and had to be abandoned before target depth.

**Hole 24: major fault from 175.06 to 192.46 meters, no samples were taken.

In addition, assays have been received for 124 rock samples collected from the recent mapping program. The samples have expanded upon the gold mineralization at the Montana de Cobre zone, located about 2.5 kilometres north of the open-pit area. The mineralization has now been traced over an area measuring approximately 500 by 1,600 metres (1,640 by 5,250 feet).

Of the 124 rock samples taken, 34 samples returned gold values greater than 300 parts per billion Au (including 21 samples greater than 1,000 parts per billion and 11 samples greater than 5,000 parts per billion Au). Fire assay results of the 11 anomalous samples returned 6.04 grams per tonnen Au to as high as 18.56 g/t Au. The gold anomalism is coincident with silver up to 4,281 Ag g/t, copper to 3.85 per cent, lead to great than 1.0 per cent and zinc to 1.49 per cent.

All results from the 2004 and 2005 exploration programs are currently being compiled and will be included in a 43-101 report. The company plans to resume the drilling before the end of the month.

The Pinaya copper-gold project lies at the southeastern end of a newly emerging porphyry Cu-Mo-Au belt in Southern Peru, just seven kilometres off of the BHP-owned Tintaya Mine haul road. The property lies within a typical porphyry environment, similar to those in southeastern Peru and northern Chile and comprises at least two porphyry-copper-gold centres, a gold-copper skarn zone in addition to a new gold zone. Collectively these zones, as defined by geological mapping, soil sampling and drilling cover an area measuring 4.0 kilometres by 2.0 kilometres. These mineralized centres host copper mineralization in supergene and hypogene chalcocite and/or oxide gold zones to depths of 200 metres or more. Ground magnetics and deep induced polarization surveys have defined a series of untested induced polarization/resistivity anomalies that warrant further work.

A drill plan map and other relevant information will be uploaded to the company's website.

Jeff Reeder, 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. Rock and core samples are transported to SGS Labs (a laboratory certified by International Standards Organization 9002) in Lima, Peru. Gold values are determined by 30-gram fire assay fusion with an atomic absorption spectroscopy finish. All samples are also analyzed for 35 elements by ICP, total digestion and those samples anomalous in copper are reanalyzed by atomic absorption (four-acid digestion). A quality control program of standards, blanks and duplicates is maintained.

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:

(Signed) Jeffrey Reeder
Jeffrey Reeder, President and Director
For further information contact: Jeffrey Reeder, President & CEO (780) 720-
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