Comaplex Minerals Corp. is a junior resource company that explores for precious metals, base metals and diamonds in the Nunavut and Northwest Territories, Ontario and Mexico. The Company's business strategy is to acquire mineral properties both through internal generation of prospects and through the optioning of quality, early stage exploration plays and to then conduct appropriate exploration programs to develop their economic potential. Comaplex has focused its efforts in areas where it can obtain large tracts of land that have numerous exploration targets. In Mexico, they optioned the Caballo Blanco Property from Alamden Minerals.

Comaplex Minerals Corp.       [CMF:TSE]    

Caballo Blanco Property, Veracruz. Comaplex Optioned the Caballo Blanco Copper-Gold Property in eastern Mexico from Alamden Minerals by signing a Letter of Agreement in early 2003. The property is roughly 120 square kilometers in size and is logistically well situated by its location just north of the city of Vera Cruz. The option agreement allows Comaplex to earn an undivided 60% interest in the property by making expenditures of $2.0 million US over 4 years, including cash option payments of $200,000 US. Comaplex is committed to spending $250,000 US in exploration expenditures in the first year. The property hosts a large area (10km by 10km minimum) of hydrothermal alteration in a sequence of alkalic to calc-alkaline intrusives and volcanics. Limited drilling suggests multiple quartz vein events on the property and several phases of intrusive activity, including hydrothermal breccias hosting sheeted quartz-magnetite veins. To date, three distinct areas of alteration and mineralization have been identified on the Caballo Blanco property. The Central Grid area underwent a 17 hole drill program in 1998 and intersected both porphyry style gold-copper mineralization and high grade gold-silver mineralization in veins spatially associated with the intrusives. Shallow drilling of one of the porphyries intersected 107 meters of 0.25 gmt gold and 0.18% copper, while drilling of quartz-barite vein occurrences returned 40 meters of 1.4 gmt gold and 9.0 gmt silver.     The Highway zone hosts a second zone of extensive acid-sulfate alteration, chalcedonic silicification, widespread pyritization, and vuggy silica. Grab samples from outcrop have assayed as high as 8.0 gmt gold, with samples of oxidized and weathered float returning assays in the 1.0 gmt gold range. The Northern zone has undergone only limited surface work, but has returned gold values of up to 8.7 gmt in intensely argillic altered volcanics. Strong silicification and veining, combined with the topographically higher erosion level in the Northern zone suggests potential for high sulphidation type targets. Comaplex will initiate exploration on the property in February (2003) and anticipates surface mapping, geochemistry, and geophysical work in
anticipation of drilling later in the year.

Press Release 29Jul03