CHICAGO, IL -- (MARKET WIRE) -- 01/28/09 -- Tara Minerals Corp. (OTCBB: TARM), a subsidiary of Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N), is pleased to announce that it has entered into an agreement to acquire 100% interest in eight concessions known as the Centenario property located 20 km ESE of Choix, Sinaloa State, Mexico. The concessions total 5,400 hectares and are being purchased for option payments totaling $2,000,000, including $300,000 in value added taxes, due between now and November 2012.
The Centenario prospect is in close proximity to Tara Minerals' existing Don Ramon and Lourdes mineral claims currently being put into production. A preliminary rock-chip sampling program has indicated the potential for five separate mineral systems at Centenario.
Two gold/copper systems returned initial chip sample assay results of up to 17 grams/t gold, 7% copper and 350/t grams silver. Two lead/zinc/silver systems returned values up to 8% lead, 9% zinc and 400 grams/t silver. There are also indications of an iron ore system which returned values of up to 67% iron ore, 6 grams/t gold and 4% copper. A systematic mapping and sampling program is planned.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated, "With the plant at Don Ramon now making steady progress towards completion, the goodwill and strong relations we have built in the region has resulted in the addition of Centenario, which we believe will immensely complement the potential of Don Ramon. Tara Gold now controls over 7,000 hectares in what appears to be a highly prospective region."
About Tara Minerals Corp.
The principal business of Tara Minerals is the acquisition, exploration and development of high-quality non-precious metals and mineral projects with potential for economic commercial value. Tara Minerals is currently focused on acquiring and developing properties in the natural resource belt of the Sierra Madre Occidental and other prolific areas in the states of Chihuahua, Sonora, and Sinaloa, Mexico. Tara Minerals has a strong pipeline of prospective properties and is assessing additional acquisitions. Tara Minerals is currently focused on bringing its 100% owned Don Ramon and Lourdes property, a high grade, Zinc, Lead and Silver project, into production.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Contact:
Website: www.TaraMinerals.com
Francis Biscan Jr.
Phone: (630) 462-2079
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