RIO DE JANEIRO, BRAZIL--(Marketwire - June 17, 2009) - MMX Mineração e Metálicos S.A.
(Bovespa: MMXM3) hereby informs its shareholders and the market in general
that the Technical Report of Serra Azul's mineral resources, which includes
AVG and Minerminas assets, has been updated according to the National
Instrument NI-43.101 of the Canadian Securities Administrators (CSA). The
norm NI-43.101 presents specific technical procedures to assess mineral
reserves and resources, according to the best practices and techniques
related to mineral research, internationally recognized.
The Technical Report was prepared by SRK Consulting, a certifying company
specialized in geology and mining, in accordance to the standards
established by the Canadian Institute of Mining, Metallurgy and Petroleum
(CIM Standards).
The report has been updated with the main purpose of including data related
to 2,803 meters of reverse circulation drilling, which has been concluded
in April 2009 and added material information to the geologic block model.
The amount of measured, indicated and inferred resources released in March
2009, which had totaled 515 million tons, has been revised to 754 million
tons, adding 239 million tons to Serra Azul's total resources, an increase
of 46.4% when compared to the resources previously reported.
The evolution of total resources and reserves of Serra Azul is presented on
the table below:
Classification Resources (Million tons) Resources (Million tons)
March 2009 June 2009
--------------------------------------------------------------------------
Measured 108 332
Indicated 273 400
Measured and Indicated 381 732
Inferred 134 22
(*) Tons reported on a wet basis.
Additionally, potential resources were estimated in the range of 140 up to
840 million tons, in line with the previously reported potential.
The Report is available at the Company's Investor Relations website at
www.mmx.com.br/ir.
Contact Information: Contact:
MMX Mineração e Metálicos S.A.
Chequer Hanna Bou Habib
Investor Relations Officer
Priscylla Setimi
Investor Relations
Tel.: (55 21) 2555-5558