Pediment jumps on gold results from Mexico (July 30, 2007)

Vancouver – A trio of strong drill results from the San Antonio gold project in Mexico bumped shares of Pediment Exploration (PEZ-V) up as much as 46% in July 30 trading.

Pediment is reverse circulation (RC) drilling the Los Planes target north of its main Colinas deposit at San Antonio and the share price boost was in response to the initial four assay results. Three of the four holes hit the Los Planes system. The fourth was stopped short of the target due to difficult ground conditions.

Hole 7, collared in the northwest corner of the explored zone, returned 84.1 metres of 3.79 grams gold per tonne, including 12.2 metres of 19.87 grams gold. The hole was drilled vertically; since the mineralized zone dips 45 degrees west, the true thickness is roughly 60 metres in this section.

Hole 5, spotted 100 metres south along trend from hole 7, intersected 18.3 metres of 2.28 grams gold in an upper zone, and then hit 15.2 metres of 2.0 grams gold followed by 62.5 metres grading 1.36 grams gold. Since it was drilled at a -50 degree angle to the east, intersection lengths are near true thicknesses.

And hole 1, another 100m step out to the south, returned 24.4 metres of 1.2 grams gold starting 18.3 metres downhole, followed by 59.4 metres of 1.58 grams gold in the main zone starting 90 metres below surface.

Results buoyed Pediment by as much as 55 before closing up 37 at $1.57 per share.

The Los Planes zone trends almost due north-south, dipping to the west at 40 to 45 degrees. Pediment geologists think the drilled northerly section is a 100-metre thick shear zone containing higher-grade sections where gold is associated with sulphide mineralization. The zone remains open to the north and south, and the up-dip eastern and down-dip western boundaries are yet to be determined.

Los Planes mineralization has been traced for 600 metres. The historic Las Colinas gold deposit, which hosts a non-NI43-101 compliant estimate of 340,000 oz. contained gold, lies 500 metres to the south within an off-set portion of the same north-south trending structural corridor.

Pediment started drilling at Los Planes in May 2007 and pulled four diamond core holes. Due to problems with drill penetration, the company the switched to RC drilling, and has to date completed seven RC holes.

San Antonio is located on the Baja Peninsula, 40 kilometres southeast of the port city of La Paz. Gravel roads and a high voltage power line traverse the property.

In the late 1990s Echo Bay Minerals, now Kinross Gold (K-T, KGC-N), explored the Colinas deposit with a 31-hole RVC drill program that gave a resource estimate of 10.6 million tonnes grading 1.02 grams gold. Pediment is drilling the Colinas deposit to try and expand the historic resource, as well as bringing it in compliance with 43-101 standards.