Explorator Intercepts Additional Sulfide Mineralization in the Pirata Area at El Espino

Explorator Intercepts Additional Sulfide Mineralization in the Pirata Area at El Espino

Tuesday, August 19th 2008

Explorator Resources Inc. announce that it continues to intersect significant copper-gold mineralization in its 30,000 meter Phase III drilling program at the El Espino Project in Chile. The most recent results received are from the Pirata zone, which is outside the area that contains the Company’s current National Instrument 43-101 (“NI 43-101″) estimated mineral resource.

The Pirata zone is centered on an old copper oxide open-pit working and an old underground gold mine. Drilling completed so far along strike from the workings has encountered higher than normal gold contents over a distance of about 500 meters.

“We are particularly encouraged by the high gold contents of this recent drilling in Pirata, which is a new zone of potential for resource expansion. The gold mineralization is associated with a swarm of late stage calcite veining which occurs in a zone about 100 meters wide and is open along strike.

The Pirata zone is outside the El Espino area of mineral resource estimate calculations completed in February, 2008. Any significant copper-gold mineralization found here will augment the resources being drilled in the main El Espino project area. We will continue to explore aggressively at Pirata as well as on other parts of El Espino and are aiming to complete an updated mineral resource estimate at the beginning of the fourth quarter of this year”, stated David O’Connor, President and CEO of Explorator Resources.

In addition, the Company has granted 1,050,000 options to purchase common shares at an exercise price of $0.59 to a director of the Company, subject to regulatory approval.

The initial NI 43-101 mineral resource estimate on the El Espino part of the deposit, audited by Micon International (see press release dated February 27, 2008) described: (1) oxide mineralization containing 11.1 million tonnes grading 0.63% Cu and 0.17 g/t Au in an indicated category and 11.5 million tonnes grading 0.46% Cu and 0.27 g/t Au in an inferred category; and (2) sulphide mineralization containing 0.6 million tonnes grading 0.91% Cu and 0.39 g/t Au in an indicated category and 77.2 million tonnes grading 0.63% Cu and 0.18 g/t Au in an inferred category.

Explorator Resources is a Canadian-based mining exploration company focused on advancing its El Espino Copper-Gold Project in Chile. The Company is currently completing a Phase III 30,000 meter drill program, the results of which will update the current NI 43-101 mineral resource estimate and is completing a scoping study on the Project’s oxide mineralization. The Project lies within the prolific copper-gold mineral area of the Cordillera de la Costa and is central to an important cluster of “Candelaria-style” copper-gold deposits. It is located 3.5 hours drive north of Santiago. The El Espino project block covers 75 square kilometres and is host to major gold and copper mineralized structures on which nine small operating mines have been developed.

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