TORONTO, ONTARIO--(CCNMatthews - Aug. 1, 2007) - Amerix Precious Metals Corporation (TSX VENTURE:APM)(FRANKFURT:NJG) today announced the finalization of the transfer of the mineral rights in respect of its Limao property located in north-central Brazil.
Pursuant to an agreement for the assignment and transfer of mineral rights among Amerix, Matapi Exploracao Mineral Ltda. ("Matapi") and Mineracao Vila Porto Rico Ltda. ("VPR"), a subsidiary of Amerix, Matapi formally assigned the minerals rights in respect of the Limao property to VPR in consideration for an aggregate of 400,000 common shares of Amerix to be issued over three years and approximately $290,000 payable over three years. In addition, Matapi retained a two per cent net smelter return royalty in respect of the Limao property and may receive an additional 383,250 common shares of Amerix if a technical report in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators evidencing the existence of at least 1,000,000 ounces of gold is delivered in respect of the Limao property.
The assignment and transfer of the mineral rights is subject to the receipt of all necessary regulatory approvals.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario company exploring for precious metals in Brazil. Vila Porto Rico is the Corporation's main project, covering over 50,000 hectares. Vila Porto Rico has multi-million ounce gold potential, as it contains historic and active gold mines that anecdotal evidence suggests have produced over 2 million ounces from placer and bedrock mining operations. 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 Corporation has been active for more than 10 years. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM" and on the Frankfurt Stock Exchange under the symbol "NJG".
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We seek safe harbour.
FOR FURTHER INFORMATION PLEASE CONTACT:
Amerix Precious Metals Corporation
Lawrence W. Snee
CHF Investor Relations
Broker Relations Specialist
(416) 868-1079, Ext. 225
Marlies E. Studer
+41 44 215 28 03