FOR IMMEDIATE RELEASE
APM January 31, 2008 Unaudited Consolidated Financial Statements and MD&A available on Sedar
March 28, 2008 – Amerix Precious Metals Corporation (TSX Venture: APM, Frankfurt: NJG) announced
today that it incurred a loss of $0.01 per share for the three months and six months ended January 31,
2008. The Company’s unaudited interim consolidated financial statements and Management’s
Discussion and Analysis (“MD&A”) have been completed and are available for review at http://www.sedar.com.
The Company also announced that, as a result of an internal management review of its option
agreements to acquire a 100% interest in its Vila Porto Rico (“VPR”) property in Brazil, it will
restate the Mining Properties note and Commitment and Contingencies note in its previously
reported consolidated financial statements for the year ended July 31, 2007 and interim
unaudited consolidated financial statements for the period ended October 31, 2007 to properly
disclose all significant terms of the option payments relating to the agreements signed with the
original mineral rights holder (“Carneiro”) of the VPR property. The Company anticipates filing
the restatements shortly, along with revised MD&A’s. The Company’s previously reported
financial results, financial position and cash flows will not change as a result of the note
restatements.
Management’s review concluded that the previously issued consolidated financial statements did
not adequately reflect all the terms of the two option agreements entered into between the
Company and Carneiro on July 28, 2004. One agreement relates to the portion of the VPR
property south of the Pacu River and the other agreement relates to the property north of the
Pacu River, an east-west trending river located on exploration licenses 852726/93 and
852678/93. Specifically, for the agreement relating to the property south of the Pacu River, the
Company’s consolidated financial statements did not disclose that, in addition to the previously
disclosed payments required should the reserve, in the probable category or better, be less than
2,000,000 ounces, the Company is required to make additional payments of 50 kilograms of gold
for each additional 1,000,000 ounces of reserves determined in excess of 2,000,000 ounces. In
addition, the Company’s financial statements did not disclose that, for the agreement relating to
the property north of the Pacu River, should the property contain a reserve in the probable
category or better of less than 2,000,000 ounces the Company is nonetheless required to make a
payment of 100 kilograms of gold and should the property contain a reserve in the probable
category or better in excess of 2,000,000 ounces the Company is required to make additional
payments of 50 kilograms of gold for each additional 1,000,000 ounces of reserves determined.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario company exploring for precious metals in
Brazil. Amerix’s objective is to create value for shareholders through expansion of bedrock gold
resources, and development of placer and tailings gold resources. Brazil has enormous gold
potential and is a proven mining-friendly country. Amerix staff has more than 50 years of
combined experience in Brazil, and the Company has been active for more than 10 years. The
Corporation’s shares trade on the TSX Venture Exchange under the symbol “APM” and at the
Frankfurt Stock Exchange under the symbol “NJG.”
Disclosure Regarding Forward-Looking Statements: This press release contains certain
“Forward-Looking Statements” within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could cause actual results to
differ materially from the Corporation’s expectations are disclosed in the Corporation’s
documents filed from time to time with the TSX Venture Exchange and, among others, the
Ontario Securities Commission as well as under the heading “Risk Factors” in the Management
Discussion and Analysis.
For further information, please contact:
Amerix Precious Metals Corporation
Jeffrey Reeder, CEO and President
Phone: 647-302-3290
Dan Hamilton
Chief Financial Officer
Phone: 416 637-4625 Ext. 205
Tom Berner
Berner Information
Phone: 416-324-8322, Ext. 202
The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.