VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX) (“Goldex” or the “Company”) today announced results from the phase one drill program on its Mexican property, El Arco. El Arco represents a newly discovered gold-silver system that has seen no previous exploration activity. The property is located in the Central Plateau gold and silver belt, near the historic silver-lead-zinc district of Tejamen in the state of Durango, Mexico. El Arco demonstrates low sulphidation epithermal-style banded quartz veinlets similar to those found at the surface in the La Cienga district also located in Durango. The project consists of two mineral exploration licenses that cover 3,381 hectares. Surface samples have confirmed the presence of both high-grade gold and silver values.
A 4000m reverse circulation drill program over 13 holes was conducted in January of 2012 to NI 43-101 standards presided over by Steve Friberg, a qualified person as defined by National Instrument 43-101. Drill holes ranged from 100m to 300m in depth over an area of around 1 square kilometre. A number of steep quartz veins are visible at surface and the phase one program was designed to test a model concept of an underlying andesite being a better host rock for mineralization. Andesite was intersected in almost every hole and quartz veins where intersected in all holes. The quartz veins intersected appeared to pinch and swell bothalong strike and down dip. Twelve of the holes were angled to better intersect the quartz vein zones.
Anomalous gold and silver values were intersected in the sampled quartz veins. Each sample measured 5 foot in length. 35 samples contained from 0.10 to 0.63 g/t Au and 2 samples contained in excess of 1 g/t. 54 samples ranged from 1 g/T Ag up to 4 g/T and 3 samples had 5.8 g/T Ag up to maximum of 7.0 g/T Ag. Remaining samples contained no appreciable results. All drill holes encountered abundant groundwater flow which can have an effect on sample quality. Samples were assayed for gold and silver by Inspectorate labs located in Reno, Nevada after being transported from theirsample preparation lab in Durango, Mexico.
A phase two program is now being planned with the aim of testing the system at depth. It has been recommended by the attending QP that a fluid inclusion study be undertaken to determine the level of boiling for the veins to give an idea of whether the target is deeper than currently tested. Exploration of the area immediately to the north of the phase one program is also planned. A preponderance of scattered gold values up to almost 21 g/T have been documented by the surface sampling within the +1,000m long by 500m wide set of NNW-trending quartz veins in the phase one area.
This news release has been reviewed by Steve Friberg, P. Geo., a qualified person consistent with NI 43-101.
Charles Ross, Director and President,
GOLDEX RESOURCES CORPORATION
About Goldex Resources Corp
Goldex is a junior resources company exploring for gold in the Americas. A twelve hole drill program has recently been completed on the El Arco property. Goldex is in application for an Exploitation Licence at El Pato. Goldex also has rights to the La Chorrera property, also in Guatemala. Goldex is listed on the Toronto Venture Exchange (TSX VENTURE: GDX).
For more information please visit: www.goldex.ca
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The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to