identifies two large scale gold anomalies

Goldminex Resources Ltd has identified two significant large scale gold anomalies at the Ogaudi project in Papua New Guinea.

While Goldminex previously reported multiple occurrences of high grade gold and copper mineralisation at the project, initial exploration was reconnaissance in nature and identified the mineralisation as part of the Foasi-Gossan Hill system.

The new exploration is aimed at systematically exploring the corridor to define drill targets.

Goldminex has now identified a 600 metre long, 100 metre wide, coherent trending gold soil geochemical anomaly at the Gossan Hill prospect. It covers a significantly larger area than the previously trench sampled mineralisation at Gossan Hill and is open along strike in both directions.

The company has also found a 900 metre long, 100 metre to 200 metre wide coherent gold and copper anomaly at the Ibaubi Creek prospect in the Foasi area.

Further gold and gold-copper exploration in the September quarter will focus on closing off the strike extensions of the soil geochemical anomalies at Gossan Hill and Ibaubi Creek and infilling them with more detailed sampling as appropriate in preparation for drill testing. Infill sampling programmes are underway.

STOCK DASHBOARD: July 16, 2008

Goldminex Resources

Closing Price: $1.50

Price change from previous trading day: 7.1%

Relative Strength (6 months percentile rank): 91.3

Market capitalisation: $59 million

Turnover volume: 16,000.0

Volume Index (1 is average): 0.1

Turnover value: $23,970

Turnover period: 1 year 9 months

Value of $1,000 since listing on October 23, 2007 : $2,000

http://www.businessspectator.com.au/bs.nsf/Article/Goldminex-identifies-two-large-scale-gold-anomalie-GLGSP