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Acero-Martin Announces Initial Resource Estimate At Pinaya

September 20, 2006

Acero-Martin Exploration Inc. (the “Company”) announces its first independent resource estimate for the Pinaya Gold and Copper Project, as prepared by J. D. Blanchflower, P.Geo.

Highlights include:

  • Mineral resource estimates, using a Gross Metal Value cut-off (>$5.50 US/tonne, based on $1.25 US /pound for copper and $450 US/troy oz for gold) for the Western Porphyry (“WPZ”) and Gold Oxide Skarn Zone (“GOSZ”), show these zones to contain an indicated resource of approximately 498,000 troy ounces of gold and 269,000,000 pounds of copper, and an inferred resource of 168,000 troy ounces of gold and 115,000,000 pounds of copper.
  • Both the WPZ and GOSZ zones are open for expansion along strike and down dip
  • Further infill and step out drilling is expected to significantly increase the resource at these targets. Drilling has resumed at the WPZ.

The resource estimate is based upon 70 diamond-drill holes totaling 15,632 metres completed through to the end of July, 2006. Only two of the five gold-copper zones, known to exist on the property, are included in the estimate.

Gross Metal Value Cut-Off ( > US $5.50)
    Indicated       Inferred  

 

Tonnes

Copper

Gold

 

Tonnes

Copper

Gold

 

mm

%

gpt

 

mm

%

gpt

 

 

 

 

 

 

 

 

GOSZ Zone

13.87

0.29

0.42

 

7.18

0.27

0.31

 

 

 

 

 

 

 

 

WPZ Zone

15.26

0.54

0.63

 

5.54

0.59

0.55

 

 

 

 

 

 

 

 

Totals

29.13

0.42

0.53

 

12.72

0.41

0.41

Note:

  1. Copper-gold mineralization was modelled using a Gross Metal Value (‘GMV’) cut-off of US $5.50 (i.e. 0.20 percent copper equivalent) based upon 1.5-metre drill hole composites of validated copper and gold assays. The GMV cut-off was calculated at US$1.25 per pound copper and US $450.00 per troy ounce gold.
  2. Copper and gold values were capped at 5.0 percent and 7 grams per tonne respectively.
  3. A specific gravity of 2.60 was used for converting volumes to tonnage. This specific gravity was determined after a detailed statistical study of cut and uncut specific gravity measurements within the GOSZ- and WPZ-modelled mineralization.
  4. Mineral resources were determined using an ‘Inverse Distance Squared’ method. Estimated resources within a search distance 48 metres were classified as ‘Indicated’ and those within a search distance of 48 to 127 metres were separately classified as ‘Inferred’. Volumetric reports were then individually prepared at a cut-off grade of greater than US $ 5.50 GMV for each resource classification.
  5. These mineral resources, which are not mineral reserves, do not have demonstrated economic viability.

The 100% owned Pinaya Project consists of 17 contiguous mineral concessions located 110 kilometers northeast of the city of Arequipa. Acero-Martin acquired the 79 sq. km (19,520 acre) property in 2004 and has been drilling the property almost continuously since late 2004.

Future drilling will be directed at expanding the mineral resource along the geological trend and in-fill drilling to advance much of the inferred resources to indicated status.

Donald Gee, President and CEO said: “With initial indicated and inferred resource estimates now provided, continued development will add significantly to this resource base. Further, we have identified three additional highly prospective targets that remain to be drill tested. What is most promising is that the WPZ and GOSZ zones remain open along strike and both up and down dip.”

A technical report on the recent drilling program and mineral resource estimation is now being prepared by J.D. Blanchflower, P.Geo. of Minorex Consulting Ltd., an independent qualified person as defined by National Instrument 43-101.

Note: These mineral resources, which are not mineral reserves, do not have demonstrated economic viability.

The Company is compliant under National Instrument 43-101 for the Pinaya Project. Jeffrey Reeder, P.Geo, and James McCrea P.Geo are the qualified persons responsible for the exploration program at Pinaya and are supervising the quality control and quality assurance program. 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: Pinaya in southern Peru and Red Mountain in the Yukon Territories. For additional information please go to http://www.acero-martin.com or http://www.goldmau.com/asd.htm.

“Donald Gee”
Donald Gee, President and Director

For further information contact: Donald Gee, President at (604) 618-3433 or Investor Relations: +1 (800) 884-5269 email: or by email at

This news release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbor.

 
     
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