Guatemala

[Tackler]

Goldex finds high-grade gold samples at El Pato

2006-05-31 16:46 ET - News Release

Mr. Richard Bybee reports

GOLDEX ANNOUNCES HIGH GRADE SURFACE RESULTS AND SITES NEW DRILL TARGETS

Goldex Resources Corp. has released more results from its El Pato project, Guatemala.

The most recent results from 193 rock outcrop and float samples collected in three of the new vein sectors continue to show encouraging results. The three sectors of interest are El Sauce, El Jabillo and El Poxte.

In the El Sauce sector, the results for 102 samples have been received and a second mineralized vein structure has been identified. Of the 102 samples:

-14 were greater than 40 grams per tonne gold over sample lengths of one to six metres;
-22 contained five grams per tonne to 30 grams per tonne gold over sample lengths of 0.4 to four metres; and
-26 returned values of 0.5 gram per tonne to five grams per tonne gold over sample lengths of 0.4 to five metres.

In the El Sauce sector two drill targets are now being developed by continued detailed mapping and sampling of hand-cut trenches.

In the El Jabillo sector, two mineralized vein structures are now identified by the latest assay results. Of the 61 samples received:

-two contained greater than 40 grams per tonne gold;
-10 contained values of five to 30 grams per tonne gold; and
-29 returned values of 0.5 to five grams per tonne gold.

Sample lengths are from 0.5 to six metres.

In the El Poxte sector, two mineralized vein structures are now identified with grades above two grams per tonne gold. Of the 30 samples:

-four samples contained 15 grams per tonne to greater than 40 grams per tonne gold; and
-nine returned values of 0.5 to five grams per tonne gold.

Sample lengths are generally 0.5 metre.

Drill targets will now be developed in the El Jabillo and El Poxte sectors by continued detailed geologic mapping as well as sampling of hand-cut trenches. The mineralized vein structures previously identified by sampling in the Bella Vista sector will also be mapped and trench sampled to develop drill targets.

Analytical work for the current exploration program is being done by BSI Inspectorate of Reno, Nev., an ISO-certified lab, and all samples are delivered to the BSI sample preparation lab in Guatemala City by Goldex geologists.

The qualified person for Goldex is Richard Bybee, PGeo, who is responsible for the verification and quality assurance of the data set forth in this release.