El Capitan Announces Upgrade of Resource Quality



    SCOTTSDALE, ARIZ., April 17 /CNW/ - El Capitan Precious Metals, Inc.
(OTCBB: ECPN) announced the release of the geologic resource evaluation
document titled:

    "EL CAPITAN PRECIOUS METALS, INC. REPORT ON EL CAPITAN GOLD-PLATINUM
PROJECT INCLUDING MEASURED RE

SOURCE CALCULATION LINCOLN COUNTY, NEW MEXICO." The document, produced by the Company's Consulting Geologist Clyde L. Smith, Ph.D., P.Eng., places the quality of the existing El Capitan resource into the important "Measured" category, upgrading it from Smith's previous categorization of "Indicated." Dr. Smith utilizes the standards outlined in the Canadian National Instrument 43-101 to identify the resource category. In that standard, "A 'Measured Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity." Ken Pavlich, Company President and Chief Executive Officer, stated, "This change in the quality designation of the Company's resource continues to confirm the confidence that we have in the inherent value of this asset. The Measured Resource designation places the deposit one step closer to the important Proven Reserve status as defined in the United States SEC Industry Guide 7." The Current Measured Resource as reported by Dr. Smith is: Resource Tonnage: Gold Silver Platinum Gold 141,444,000 Equivalent ---------------------------------------------------------------------- Grade (opt) 0.020 0.205 0.011 0.044 ---------------------------------------------------------------------- Contained Oz (000) 2,769,000 28,997,200 1,517,900 6,126,700 ---------------------------------------------------------------------- The entire report will be available on the Company website (www.elcapitanpmi.com) and can be accessed directly by using the following link: www.elcapitanpmi.com/El%20Capitan%20Project%20Resource%20Report%20Apr- 2007.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) About El Capitan Precious Metals, Inc. El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, New Mexico, as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns 100% of the Weaver mine located near Phoenix, Arizona. The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with past results and/or the Company's expectations, discrepancies between different types of testing methods, some or all of which may not be industry standard, the ability to mine precious and other minerals on a cost effective basis, the Company's ability to successfully complete contracts for the sale of its iron ore and other products; fluctuations in world market prices for the Company's products; the Company's ability to obtain or maintain regulatory approvals; the Company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; the Company's ability to enter into and meet all the conditions to close contracts to sell its mining properties that it chooses to list for sale, and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements. In addition, the exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves already discovered and recovered by others in the same region of the planned areas of exploration. Further, the cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in or to acquire interests in other mineral exploration projects that may become available.

For further information:

For further information: El Capitan Precious Metals, Inc. Corporate
Office, 480-607-7093 www.elcapitanpmi.com

Organization Profile

EL CAPITAN PRECIOUS METALS, INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890