CORRECTION FROM SOURCE: Plexmar Acquires Gold Property.

QUEBEC CITY, Quebec -- Correction to press release sent November 16, at 11:34 am. In the second paragraph, it should have read 20,6 g/t and not 2,06 g/t. The complete and corrected version follows.

Plexmar Resources Inc. (TSX-V:PLE), announces that it has acquired a new gold property covering an area of at least 50 km2 in the Department of Piura, Northern Peru.

Bolsa Del Diablo 

Plexmar geologists recognized a large alteration system covering a minimum of 4 km x 1 km. Within this pervasively altered area, all the rock samples taken are anomalous in gold with values ranging from 14 ppb to 20,600 ppb (20,6 g/t) Au. All the volcanic rocks in the area of interest show pervasive argillic alteration. Areas of intense silicic alteration are common on the crest of numerous hills found within the area. The rocks have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock.

Artisanal workers are currently extracting ore containing over 15 g/t Au in highly silicified stockworked volcanic rocks.

Plexmar has under control a 4,000 hectare position within the area and has signed a letter of intent to acquire a further 800 hectares. The land position encircles a small 400 hectare block, which is currently under negotiation. This block contains most of the artisanal workings and the highest known gold values.

Only 10% of the property has rock exposure and within Plexmar's land package, the highest gold value obtained is 2,04 g/t Au from only 7 widely spaced chip samples. The rocks observed on Plexmar's ground are similar in alteration, mineralization and stockwork as the rocks that contained the highest values of gold found on the 400 Hectare block.

Potential

An alteration system of significant size has been identified within the property and has the potential to become a new mining camp. All samples collected carry anomalous gold values. Preliminary observations suggest the presence of a large scale epithermal system with characteristics typical of a high sulphidation system (Yanacocha, Pierina).

Further exploration work on the property is awaiting a comprehensive socio-economic and cultural evaluation of the area being currently carried out by a team of consulting sociologists, in order to ensure good communication and relations with the local communities and to secure the future exploration and development potential of this extremely under explored region of Northern Peru.

Plexmar will undertake, as soon as possible, a systematic sampling program on a 100 meter square grid. This program will be carried out using a manual auger system. The top layer of soil is generally less than 0,5 meter thick and the auger has been tested successfully and has proved to be the method of choice. Once started, the sampling program should take approximately 2 months to be carried out and will be followed by drilling.

Cascajal

After a thorough review of the drilling and exploration results obtained on the Cascajal project, Plexmar has returned the property to its original owner and will incur no further apyments. Plexmar, however, retains 1,500 hectares of land in the area. The Owners of the Oro del Norte Uno and Oro del Norte Dos have agreed to postpone the property payments due on November 30th.

Plexmar is currently negotiating to lease the Malin mill to a local Company that plans a 100 tons per day operation and is still evaluating the possibility of rehabilitating the mill and starting a custom milling operation.

The TSX has neither approved nor disapproved the contents of this press release.

Plexmar Resources Inc. (TSX VENTURE:PLE)