🕐19.04.10 - 15:11 Uhr

Extorre Increases Gold-Silver Resources at Cerro Moro



You can view online version http://extorregoldmineslimited.cmail2.com/t/y/e/okdel/uudljlhrj/ or unsubscribe http://extorregoldmineslimited.cmail2.com/t/y/u/okdel/uudljlhrj/ from our list. Extorre Increases Gold-Silver Resources at Cerro Moro Indicated - 357,000 Oz.

Gold + 15.3 Million Oz.

Silver (612,000 Oz.

Gold Equivalent**) Inferred - 190,000 Oz.

Gold + 12.0 Million Oz.

Silver (390,000 Oz .

Gold Equivalent**) Vancouver, B.C., April 19, 2010 – Extorre Gold Mines Limited (TSX :XG, Frankfurt: E1R, OTC: EXGMF – "Extorre" or the "Company") is pleased to provide an updated National Instrument 43-101 compliant mineral resource estimate for its Cerro Moro Project, Santa Cruz Province, Argentina.

The new estimates comprise: Indicated Category: 612,000 ounces gold equivalent** (590,000 t at 18.9 g/t gold and 805 g/t silver, for a gold equivalent grade of 32.3 g/t*), plus Inferred Category: 390,000 ounces gold equivalent** (190,000 t at 3.0 g/t gold and 190 g/t silver, for a gold equivalent grade of 6.1 g/t* gold). The indicated resource is based on infill drilling completed on the high grade Escondida vein between April, 2009 and February, 2010.

The 612,000 ounce gold equivalent** indicated resource has a grade of 32.3 g/t gold equivalent*, a grade considered exceptional by industry standards.

The silver contribution is high, accounting for over 40% of the value. Additional inferred resources of 390,000 ounces gold equivalent** are reported from the Escondida, Loma Escondida, Gabriela, Esperanza, and Deborah veins.

The inferred resource totals 1.97 million metric tons (Mt) at a grade of 3.0 g/t gold and 190 g/t silver, for a gold equivalent grade of 6.1 g/t*.

This equates to 190,000 ounces of gold and 12.0 million ounces of silver, to total 390,000 gold equivalent ounces**.

This inferred resource contains new material not previously estimated. Indicated Mineral Resource for Escondida utilising a 1.0 g/t gold equivalent cut-off View online version for tables Extorres President and CEO, Eric Roth, stated, "We are now able to raise our resource objective for Cerro Moro to 2 million ounces gold equivalent.

We have two rigs on site extending the known mineralization and testing identified targets on the extensive vein system, which compares favourably with the multi -million ounce gold systems elsewhere in the province. "With our focus in 2009-2010 on drilling the high grade Escondida vein, the effective doubling of both the number of drill holes and metres drilled has increased the drilling density sufficiently to convert 86% of the contained gold equivalent ounces to the indicated resource category. "The corresponding increase in inferred resources at the other prospects, notably Gabriela and Esperanza, resulted from improved three-dimensional geological modelling combined with geostatistical estimation techniques.

The Deborah vein is a newly reported inferred resource. "The updated resource models for Escondida have been delivered to NCL Ingenieria y Construccion for evaluation of an optimal mine model.

The results will be used in the Preliminary Economic Assessment (PEA) scheduled for Q3, 2010.

The PEA will provide estimated mine operating and capital costs for a potential 100 ,000 ounce gold equivalent per annum mining operation.

I believe that the current size of the indicated resource together with the PEA will provide our board with sufficient information to proceed rapidly with a mine development decision. "Infrastructure studies and flow sheet development for a plant continue.

This work will allow for detailed cost estimating which is now commencing.

One rig is currently drilling for water and engineering studies, and long term pump testing is being conducted to ensure sufficient water exists for project requirements." Click Here for the plans
* Gold equivalent grade is calculated by dividing the silver assay result by 60, adding it to the gold value and assuming 100 % metallurgical recovery. ** Gold equivalent ounces are calculated by dividing the silver ounces by 60, then adding those ounces to the gold-only ounces. Resource Estimate Authorship and Methodology The April 2010 resource estimate of the Cerro Moro Project is the first undertaken by Cube Consulting ("Cube") and follows a previous estimate undertaken by Snowden Mining Industry Consultants announced on July 8, 2009.

The mineral resource estimates were prepared by Mr Ted Coupland, MAusIMM, CPGeo, Director and Principal Geostatistician of Cube.

The mineral resource estimates have been classified and reported in accordance with the CIM guidelines (CIM 2005) and National Instrument NI 43-101, Standards of Disclosure for Mineral Projects.

Mr Ted Coupland is independent and a qualified person as defined by NI 43-101. Updated mineral resource estimates were undertaken for the Escondida, Loma Escondida, Esperanza, Gabriela and Deborah prospects.

All drilling data available as of March 25,, 2010 was used for the resources estimates.

A summary of drilling data for each prospect is as follows: Escondida 523 drill holes for 65,407m (Exeter 65,302m, Mincorp 105m) Loma Escondida 27 drill holes for 2,032m (Exeter 1,908m, Mincorp 124m) Gabriela 42 drill holes for 5,005m (Exeter 5 ,005m) Esperanza 46 drill holes for 4,114m (Exeter 3,925m, Mincorp 188m) Deborah 21 drill holes for 1,266m (Exeter 1,163m , Mincorp 102m) The Escondida resource estimate was primarily based on Exeter diamond drilling and a small number of selected reverse circulation drill holes.

The Loma Escondida estimate was based on Exeter diamond drilling and selected surface trench sampling. The Gabriela, Esperanza and Deborah estimates were based on a mixture of Exeter diamond drilling and reverse circulation drill holes.

A small number of Mincorp diamond holes were used within Inferred areas of the resource estimate. Exeter and Cube worked collaboratively on producing a set of 3D geological wireframe models defining the key mineralized components of each prospect.

In most cases, a clear distinction between a main epithermal quartz vein structure and surrounding stockwork mineralization could be determined based on detailed geological logging and core photography.

The resulting 3D mineralization model reflects an in-situ geological model whereby no cut-off grade or minimum mining width criteria has been applied. The epithermal vein structures at Cerro Moro are relatively narrow with horizontal widths typically ranging between 0.1m and 5m (Escondida 1.4m, Loma Escondida 1.0m, Gabriela 2.0m, Esperanza 1.7m and Deborah 4.6m).

It is likely that the full width of the epithermal vein structure will be mined by either open pit or underground methods with little or no selectivity across the structure. Cube has adopted a 2D metal accumulation approach to the estimation for the all epithermal vein structures at Cerro Moro. Samples within the epithermal vein zones are assigned a unique code that is used to generate a single composite across the vein structure.

The geological composites are projected onto a vertical 2D plane approximately parallel with the vein structure . The mid-point of each geological composite is assigned the horizontal width of the vein structure and used to compute a metal accumulation variable.

The accumulation a(x) is defined as the product of thickness t(x) and grade z(x): a(x) = t(x) .

z (x) Exploratory data analysis was undertaken on raw samples, geological composites and accumulation variables to determine appropriate capping of grade outliers.

Variography was used to characterise the spatial continuity of the horizontal width and accumulation variables within the plane of the vein structure and to determine appropriate estimation inputs to the interpolation process. Gabriela, Esperanza and Deborah demonstrated relatively moderate grade variability within the plane of the main epithermal vein structure.

Block grade estimates of gold and silver for these veins were achieved using Ordinary Kriging ("OK") of the accumulation and horizontal width variables into X=20m, Y=2m and Z=20m blocks (local grid).

An estimation of this type is based on the interpolation of two variables, the accumulation a(x) and the thickness t(x).

Final block grade is calculated by dividing the estimated accumulation by the estimated thickness.

Escondida and Loma Escondida are characterised by distinct shoot like bonanza zones within the plane of the main epithermal vein structure effectively creating two mineralisation styles: Main Zone ("MZ") – continuous material characterised by classic epithermal vein textures including crustiform/colloform chalky white quartz-adularia sulphide banded and brecciated veining typically grading 0.5 to 10 g/t gold; Bonanza Zone ("BZ") – semi -continuous identifiable zones within the MZ.

Characterised by brecciated quartz-adularia sulphide banded vein ginguro material typically grading 10 to 200g/t gold.

Associated with this bonanza zone are gold grades averaging around ten times higher than the surrounding MZ. The bonanza zones appear to have sharp boundaries requiring separate domaining to avoid the over-smoothing properties of OK. Cube adopted an Indicator Simulation (Sequential Indicator Simulation) approach to objectively define the BZ and MZ domains .

Exploratory data analysis showed that a gold grade indicator of 10 g/t gold resulted in excellent definition of the BZ shoots. The MZ domain was further split into a low grade and moderate grade domain using a gold grade indicator of 2 g/t gold. All 2D models were subsequently re-located into 3D block models. Stockwork domains were estimated for Escondida, Gabriela and Esperanza.

The stockwork mineralization surrounding the main epithermal vein zones was estimated using traditional 3D OK of 1 to 1.5m downhole composites depending on the zone. All estimates were visually and statistically validated and compared to a variety of alternative estimation methods resulting in acceptable comparisons. Densities have been directly assigned to each model on a geological basis.

Significant density testwork has been carried out for the various rock types and prospects. Cube has classified a substantial proportion of the Escondida mineral resources as "Indicated" where drill spacing is 20m x 20m or closer.

Cube believes that this level of drill hole spacing is sufficient to demonstrate acceptable confidence in the geometry, continuity and grade of the Escondida deposit. Surrounding areas of Escondida have been classified as Inferred where drill spacing is wider or where unresolved geological complexity exists.

Inferred resources at Escondida have an appropriate level of drilling information to support classification into the Inferred category. Cube is currently finalising a NI 43-101 compliant technical report, which will be available on SEDAR at www.sedar.com shortly. Competent Persons Statement Information in this report relating to Mineral Resources has been estimated and complied by Mr Ted Coupland, Director and Principal Geostatistician of Cube Consulting Pty Ltd of Perth, Western Australia.

Ted Coupland is a member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Qualified Person" as defined in "National Instrument 43-101" of the Canadian Securities Administrators. Matthew Williams, Extorres Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release. About Extorre Extorre Gold Mines Limited is a Canadian public company listed on the Toronto Stock Exchange under the symbol "XG".

It is a spin -out entity from Exeter Resource Corporation ("Exeter") pursuant to a March 11, 2010 shareholder vote to split Exeter into two independently focussed companies. Extorres assets comprise approximately $24 million in cash plus the Cerro Morro and Don Sixto projects, and all other Exeter exploration properties in Argentina.

Exeter retained all assets relating to the Caspiche gold-copper discovery in Chile, together with approximately $45 million in working capital. The Cerro Moro Project in Santa Cruz Province, Argentina is 100% owned by Extorre.

The Santa Cruz Government mining company, Fomicruz S.E.

is entitled to a 5% participating interest on completion of mine permitting.

Three drills are operating on the project, performing exploration to develop additional resources, and to a lesser extent to perform engineering related testwork. You are invited to visit the Extorre web site at www.extorre.com
EXTORRE GOLD MINES LIMITED Eric Roth President and CEO [mailto:] For further information, please contact: Rob Grey, VP Corporate Communications Tel: 604.681.

9512 Fax: 604.688.9532 Toll-free: 888.681.9512 Suite 1260, 999 West Hastings St. Vancouver, BC Canada V6C 2W2 Safe Harbour Statement – This news release contains "forward -looking information" and "forward-looking statements" (together, the "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including in relation to the Companys belief as to the extent and timing of its drilling programs, various studies including engineering, environmental, infrastructure and other studies, and exploration results, budgets for its exploration programs, the potential tonnage, grades and content of deposits, timing, establishment and extent of resources estimates, potential for financing its activities, potential production from and viability of its properties, permitting submission and timing and expected cash reserves.

These forward-looking statements are made as of the date of this news release.

Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.

While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.

Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold and silver, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information.

In addition, there are known and unknown risk factors which could cause the Companys actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.

Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the Companys common share price and volume; tax consequences to U.S.

investors; and other risks and uncertainties, including those described in Exeters Information Circular dated February 26, 2010 filed with the Canadian Securities Administrators and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

There can be no assurance that forward -looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward-looking statements.

The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. Cautionary Note to United States Investors - The information contained herein and incorporated by reference herein has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws.

In particular, the term "resource" does not equate to the term "reserve".

The Securities Exchange Commissions (the "SEC") disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S., unless such information is required to be disclosed by the law of the Companys jurisdiction of incorporation or of a jurisdiction in which its securities are traded.

U.S.

investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE www.extorre.com Forward this email to a friend http://extorregoldmineslimited.forwardtomyfriend.com/y/uudljlhrj/6EF24B04/okdel/l



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