Horizonte Minerals said Wednesday that it has defined a significant gold anomaly following positive results from the first phase of a regional auger drill programme on the Malvinas target at its 100% owned Tangara gold project in Brazil.

The Company is also fast tracking a 1,500 metre diamond drill programme at its 100% owned El Aguila silver,-zinc-lead project, in the Cerro de Pasco region of Central Peru.

Auger drilling to a maximum depth of 6 meters on the Malvinas zone defined a 300 metre by 120 metre gold anomaly in which the mineralisation averaged 0.25 g/t gold in 15 holes. This anomaly encloses a high grade core of > 1.0 g/t gold.

Highlights include; 6 metres grading 2.2 g/t Au (TGA-AG073); 6 metres grading 1.2 g/t Au (TGA-AG044) and 6 metres grading 1.07 g/t Au (TGA-AG045). The best auger intersection within the anomalous zone to date is 1 million at 8.2g/t. (TGA-AG073 @ 4 million)

94 shallow holes with maximum depth of 6 metres were drilled by the Company over the soil anomaly associated with the outcropping sulphide mineralisation. The holes were drilled on a 100 metre by 40 metre grid with the aim of prioritising the sub-parallel mineralised zones indicated by old workings. The drilling defined a single wide zone encompassing both old working trends as defined by a 300 metre by 120 metre gold anomaly in which the holes averaged 0.25 g/t gold in 15 holes.

This anomaly encloses a high grade core with an approximate area of 60 metre by 40 metre with an average of 1.0 g/t gold in 4 holes.

The highlight of the shallow auger holes are 6 metres grading 2.2 g/t Au (TGA-AG073); 6 metres grading 1.2 g/t Au (TGA-AG044) and 6 metres grading 1.07 g/t Au (TGA-AG045). There is a strong correlation between the gold values and the copper, lead and zinc values.

An IP geophysical program is expected to start in late-June to define the vertical extension of this zone.

The auger results have been integrated with the recently acquired aerogeophysical data set covering the project area from Golden Star Resources Ltd (GSR). Re-interpretation of this data has identified the regional structural framework controlling mineralisation as well as a number of untested, discrete, magnetic targets within the Malvinas anomaly zone.

A diamond drill rig has been contracted from Servitec Ltda, Brazil to commence a 1,500 m programme in the third quarter 2006 to test the depth continuity of gold mineralisation at the Malvinas target.

Horizonte has completed a detailed programme of surface and underground mapping, trenching and geochemical sampling at the 100% owned El Aguila silver-zinc-lead project, in the Cerro de Pasco region of Central Peru. Environmental permitting is underway for a 1,500 m diamond drill programme, due to commence on El Aguila in the last quarter of 2006, with the aim of testing the vertical and lateral extend of the untested polymetallic veins.

This month's election result where Alan Garcia was elected president of Peru is viewed as positive for the stability and development of the mining sector.

Horizonte CEO Jeremy Martin said: "The results from the auger programme at Tangara are extremely encouraging and demonstrate the aerial extent and continuity of the gold values. We are also fast tracking the El Aguila project through to the drill stage with a view to defining a resource base of high grade silver-lead-zinc mineralization. As part of our business plan we are looking to expand our exploration portfolio and are currently evaluating a number of opportunities."