RIO DE JANEIRO, BRAZIL--(Marketwire - April 4, 2008) - MMX Mineração e Metálicos S.A.
(BOVESPA: MMXM3) (
TSX:
XMM) ("MMX" or "Company") hereby informs its
shareholders and investors that a new Technical Report of MMX Corumbá
Mineração Ltda.("MMX Corumbá") mineral resources and reserves has been
concluded.
The report was audited by SRK Consulting, an independent company
specialized in geology and mining, and was carried out in accordance with
the standards set by the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM Standards) and by the National Instrument 43-101 of the
Canadian Securities Administrators (NI 43-101).
This report presents the resources of the Urucum NE area, which reached 70
million tonnes of estimated mineral resources, in addition to the resources
previously disclosed for Mine 63.
The resource estimate provided in this report was based on exploration data
surveyed up to September 2007, and presents the results for the two areas
-- Mine 63, currently in operation, and the Urucum NE exploration target.
The resources and reserves of Mine 63 were not revaluated; they were
adjusted to reflect the exclusion of the quantities mined from January to
September 2007.
The current total resources and reserves of MMX Corumbá are presented on
the tables below.
MMX Corumba System Mineral Resources (*)
Area Classification Tonnage Fe
(Mt) (%)
----------------------------------------------------------
Measured 5,2 60,9
Indicated 40,4 51,9
Mine 63 Stockpile 0,1 60,4
Total Indicated 40,5 51,9
Measured and Indicated 45,6 53,1
Inferred 14,0 53,3
Measured 3,2 55,2
Urucum NE Indicated 34,0 53,0
Measured and Indicated 37,2 53,2
Inferred 32,8 51,0
Measured 8,4 58,8
Total Indicated 74,5 52,4
Measured and Indicated 82,9 53,1
Inferred 46,8 51,6
(*) Tonnes reported on a wet basis.
The cut-off grade for Mine 63 is 30% Fe and for Urucum NE is 20% Fe.
The tonnage reported for resources of Mina 63 includes reserves tonnage.
Mine 63 Reserves (*)
Classification Tonnage Fe
(Mt) (%)
-----------------------------------------------
Proven 4,3 61,03
Probable 25,0 54,74
Stockpile 0,1 60,40
Total Probable 25,1 54,76
Total Proven and Probable 29,4 55,68
(*) Tonnes reported on a wet basis.
The cut-off grade for eluvium is 48.0% Fe and for colluvium is 56.1% Fe.
MMX will continue its geological survey in 2008 aimed at estimating
additional resources and reserves.
SRK Consulting, a company specialized in geology, mining and mineral
resources determination, was responsible for the audit. The Technical
Report was endorsed by the Qualified Persons: Leah Mach CPG, MSc, Dr. Neal
Rigby CEng, and S E E Johansson.
The complete Technical Report is available on the Company's Investor
Relations website
www.mmx.com.br/ri.
MMX Mineração e Metálicos S.A.
Luiz Rodolfo Landim Machado
Executive President and Investor Relations Officer