ARIPUANA / AREX

Karmin Exploration Incorporated has received a report from their project partner, Votorantim Metais from their 30% owned Aripuanã zinc/copper/lead/gold/silver massive sulphide district in Mato Grosso, Brazil. Votorantim report that the engineering firm, MinProc of Australia, has been substantially completed the Votorantim funded pre-feasibility study on the project. Votorantim are reviewing the MinProc report before releasing it to Karmin, who expect to receive the MinProc report and Votorantim’s review later in the summer. The study was originally expected early in 2009. Votorantim, as project operator, decided to delay the work due to late receipt of drilling results and unfavorable market conditions.

Karmin Exploration reported further drilling results at Aripuanã zinc/copper/lead/gold/silver massive sulphide project in Mato Grosso, Brazil. Highlights include hole FPAR 163 which intersected 4.45 meters of 66.69 g/t silver, 2.17 g/t gold, 2.33% zinc, 1.60% copper, 1.46% lead.

Drilling in Jul/08 was reported to have returned a new intersection in hole FPAR 161, 70 metres deeper than previous results, which returned 7 metres grading 15.3% zinc, and 3.6 g/t gold. Interpretation is ongoing, but this intersection may be part of the Ambrex Deep mineralization, where the discovery hole FPAR 157 has been recalculated, as 8.8 metres grading 30.6 % zinc, 11.4 % lead, 342 g/t silver and 1.5 g/t gold. Also hole FPAR 161, the shallowest intersection has been recalculated including gold returning 12.7 metres grading 5.5% copper and 5.5 g/t gold.