Amerix Precious Metals Corp (fka APM)

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AMERIX PROVIDES EXPLORATION UPDATE
AT LIMAO GOLD PROPERTY, BRAZIL


October 18, 2011 News Release 2011 - 10

Amerix Precious Metals Corporation (TSX Venture: APM) is pleased to announce that the Company has been actively exploring at its Tapajós area, Brazil gold project – the “Limão property” – during 2011. Fugro Geophysics has recently completed approximately 1800 line kilometres of airborne surveying over the entire Limão property providing Amerix with magnetic and radiometric data.

Previously, the Amerix exploration work at Limão had consisted primarily of geochemical surveying on grid lines over old pits and workings that had been developed by artisanal workers, “garimpeiros”, in the near surface, weathered, saprolitic material. From the earlier geochemical survey work, Amerix geologists have outlined three areas of anomalous gold at the property:

• Limão Pit Area
• North Grid
• South Grid

These grids cover only a small central portion of the large > 10,000 hectare property. The airborne data will be used to identify the geophysical character of the previously determined gold mineralization and to identify similar characteristics, where they may occur on the rest of the Limão property.

Amerix is preparing its next work program, which will consist of following up new targets determined from the airborne geophysical surveying as well as extending the geochemical surveys at the North and South grids. The new targets will be covered with gridded geochemical sampling that has proved to be effective at Limão. Samples are taken at regular intervals along the grid lines. These samples are carefully extracted using a hand auger that probes one (1) metre into the saprolitic or weathered surface rock. All samples are collected and then sent out for gold analysis under the QA/QC supervision of the Company’s geologists. Geochemical gold anomalies are followed up with closer-spaced sampling, and then followed with deeper mechanical augering that can reach depths up to 10 metres. This additional sampling is designed to better determine the orientation and location of bedrock gold mineralization underlying the weathered saprolite. This technique helps define eventual targets for diamond drill testing.

Amerix is planning an aggressive campaign of follow up geochemical sampling of all the potential gold targets on the Limão property over the upcoming months. Targets will be prioritized and the Company anticipates drill testing the priority targets early in the New Year. The Company is presently working to secure appropriate permits necessary for this drilling. Amerix has sufficient funds on hand to complete this first round of drill testing, including the “Limão Pit” target.