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CPQ Canplats Resources Corp Com Npv

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Share Name Share Symbol Market Type
Canplats Resources Corp Com Npv TSXV:CPQ TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Canplats Resources Corporation: New Target Areas Identified and Ground Acquired At Camino Rojo

28/05/2009 7:26pm

Marketwired Canada


Canplats Resources Corporation (TSX VENTURE:CPQ) is pleased to provide an update
on recent activities at its 100% owned Camino Rojo project located in the State
of Zacatecas, Mexico.


Reconnaissance Exploration Program

On-going reconnaissance geological and geochemical exploration at the Camino
Rojo project has successfully identified several new prospective areas (please
see the location map at www.canplats.com). At the "Cerro Verde" target area,
extensive replacement and structurally controlled jasperoid zones have been
identified in an area measuring 7 kilometers by 13 kilometers. Initial rock and
stream sediment sampling has returned highly-elevated values of antimony,
molybdenum, silver, lead and zinc that are associated with anomalous gold
values. Numerous old antimony prospects and workings are present in the central
Cerro Verde area, which are flanked by base-metal showings in peripheral
regions. Initial mapping has indicated that rocks of the Caracol Formation, the
host rocks to mineralization at the Represa Zone, are present in the Cerro Verde
area.


At the "Calabazal" target area, large exposures of hematitic and limonitic silty
limestone have been identified adjacent to an extensive area of pediment cover.
Initial stream sediment and rock sampling has generated anomalous gold, lead,
antimony and zinc values. Other newly-located prospective areas include
"Jandel's Quarry", where highly-altered Caracol Formation rocks have returned
anomalous zinc and lead levels and "Gomez Ranch" where old workings are
associated with elevated antimony and molybdenum values in limestone adjacent to
Caracol Formation rocks. Further work at the "Camino Rojo Dos" target area has
returned anomalous to highly elevated barium, molybdenum and antimony values
that are associated with structural and bedding replacement zones in silty
limestone over a 150 meter by 50 meter area. Initial soil sampling at Camino
Rojo Dos has returned elevated zinc values associated with anomalous
chargeability values on the margins of a previous Tensor IP geophysical grid.


The 19,000 hectare "Cardito" target area has been recently acquired by staking
to cover the margins of a prominent magnetic feature that is likely associated
with buried intrusive rocks. With this staking, the Camino Rojo property has
been expanded to 359,000 hectares (1,390 square miles), much of which is
overburden covered and only a portion of which has been investigated through
systematic reconnaissance exploration activities. The Camino Rojo project area
is considered to be highly-prospective for new discoveries, similar to the
Canplats' Represa Zone or Goldcorp's Penasquito deposit, which is situated 50 km
to the northwest and occurs in a similar geological setting. Additional
reconnaissance work will include further geological mapping, stream sediment
sampling, prospecting, and geophysical surveys.


Engineering Studies

In March 2009, Canplats engaged Mine and Quarry Engineering Services Inc.
("MQes") of San Mateo, California to conduct an in-house technical assessment of
the Represa Zone. This scoping level study is examining basic issues such as
metallurgy, mining, project design, as well as construction and operating cost
estimates for large-scale heap-leach treatment of oxide and transitional
mineralization. This study will provide the groundwork and specific
recommendations for subsequent prefeasibility and feasibility studies.


The Camino Rojo project hosts measured and indicated resources estimated at 3.44
million ounces of gold and 60.7 million ounces of silver at the Represa Zone,
with additional inferred resources of 0.56 million ounces of gold and 7.6
million ounces of silver (see news release dated November 24, 2008).
Mineralization remains open for further expansion in both strike directions and
to depth.


The Represa Zone is situated in flat terrain within an area of excellent
infrastructure, less than 5 kilometers from a paved highway and high voltage
power lines. Canplats is actively pursuing the acquisition of surface rights in
the Represa area.


Dr. Peter A. Christopher, P. Eng., is the qualified person responsible for the
reviewing the contents of this news release. For further information, please
contact:


To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director,
Investor Relations, at info@canplats.com or (866) 338-0047. Some of the
statements contained in the company's news releases may be forward-looking
statements such as the company's future plans, objectives and goals. The
statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties which could cause actual
results to vary considerably from these statements. The risks and uncertainties
include general and economic conditions as well as those described in Canplats'
SEC Form 20F. Cautionary note to U.S. investors concerning disclosure of
estimates of mineral resources and contained ounces of gold and silver: The
terms "measured resource", "indicated resource" and "inferred resource" used in
this news release are Canadian geological and mining terms as defined in
accordance with National Instrument 43-101, Standards of Disclosure for Mineral
Projects under the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council as may be amended from time to time by the
CIM. We advise U.S. investors that while such terms are recognized and permitted
under Canadian regulations, the SEC does not recognize them. U.S. investors are
cautioned not to assume that any part or all of the mineral deposits in the
measured and indicated categories will ever be converted into reserves.
"Inferred resources" have a great amount of uncertainty as to their existence,
and great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian rules estimates of inferred
mineral resources may not form the basis of feasibility or other economic
studies. U.S. investors are cautioned not to assume that any part or all of an
inferred resource exists, or is economically or legally mineable. Disclosure of
gold and silver resources expressed in ounces in the mineral resource categories
in this news release are in compliance with National Instrument 43-101, but does
not meet the requirements of Industry Guide 7, Description of Property by
Issuers Engaged or to be Engaged in Significant Mining Operations, of the SEC,
which will accept only the disclosure of tonnage and grade estimates for
non-reserve mineralization.


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