Mr. Michael Wood reports

SENDERO RESOURCES INTERSECTS 256M OF 0.53 G/T GOLD EQUIVALENT IN MAIDEN DRILL PROGRAM AT THE PENAS NEGRAS PROJECT IN THE VICUNA DISTRICT

Sendero Resources Corp. has released results of the first three diamond drill holes from the continuing maiden drilling program at its 100-per-cent-owned Penas Negras project in the Vicuna district in La Rioja, Argentina.

Highlights:

• PNDH003 (La Ollita) intersected 256 metres of 0.53 gram per tonne gold equivalent (AuEq) from 84 m:
  • Including 70 m of 0.66 g/t AuEq from 84 m;
    • Including 20 m of 0.76 g/t AuEq from 92 m.
  • Including 94 m of 0.58 g/t AuEq from 246 m;
    • Including eight m of 1.09 g/t AuEq from 254 m.
• Continuing drilling at La Ollita (holes PNDH004 to PNDH006) is confirming the presence of a large mineralized advanced argillic epithermal lithocap telescoped on a porphyry gold-copper system.

Sendero executive chairman, Michael Wood, commented:

"We are delighted with the initial results from La Ollita in our maiden drilling program which confirms our thesis that La Ollita is a telescoped high-sulphidation epithermal/porphyry system, like other major deposits in the Vicuna district, such as Filo del Sol, and with comparable grade to the resource grade at Josemaria. Such telescoped systems create large, diverse mineral systems and La Ollita will be the sole focus for the rest of the current drill program as we seek to gain a better understanding of the deposit geometry, grade distribution and mineralogy."

Discovery hole PNDH003

After initial drilling at La Pena and Tamberias, attention was shifted to the La Ollita target where previous drilling in the 1990s by Eldorado Gold had intersected gold-copper mineralization at relatively shallow depths (lesser than or equal to 150 m). PNDH003, a vertical hole drilled to 450 m depth, intersected an advanced argillic lithocap below 84 m of moraine cover to a depth of 159 m. Below this depth the hole intersected several phases of dacite porphyry, an early mineralized phase, and a late-mineralized phase, before ending in a postmineral fault zone.

The upper part of the hole intersected a phreatomagmatic breccia with intense pervasive residual vuggy silica and clays with alunite and returned 70 m of 0.66 g/t AuEq from 84 m. In this advanced argillic style alteration were pyrite-enargite-chalcocite and black sulfide veins with metal values up to Au (1.1 g/t), silver (7.3 g/t), molybdenum (200 ppm) and Cu (0.3 per cent). In addition, late intermediate-sulphidation epithermal-style zinc-lead-silver-copper veins overprint the porphyry Au-Cu mineralization.

Below 159 m the hole intersected high-sulphidation mineralization and advanced argillic alteration overprinting porphyry-style sericite and potassic (K-feldspar-biotite) alteration with A-type quartz veinlets. The early porphyry phase returned 94 m of 0.58 g/t AuEq from 246 m. Note that Au-Cu grades dropped off considerably when entering extensive postmineral faults below 340 m, with the reduction in grade due to displacements by the faults rather than a reduction in Au-Cu grades of the system itself. Despite extension drilling into this postmineral fault zone, the company was unable to pass and stopped the hole on advice of the drill contractor.

The company's initial exploration drilling at La Ollita is focused within a triangle-shaped structural zone formed by the intersection of northeast-northwest-east-west faults, which coincides with magnetic and induced polarization chargeability anomalies. The company's thesis is that this triangular zone represents a zone of weakness and provided a feeder for magmatic-hydrothermal fluids forming the advanced argillic lithocap measuring at least 600 by 600 m. The company believes the advanced argillic lithocap could be far more extensive than this and exploring extensions will be a focus for future drilling.

The results of PNDH003 and the continuing drilling at La Ollita are demonstrating the existence of an extensive, well-preserved telescoped Au-Cu-Ag mineral system concealed beneath the moraine cover. This finding is comparable with other deposits in the Vicuna district like Filo del Sol which show alteration and mineralization telescoping on large systems of both high-sulphidation Cu-Au-Ag and porphyry Cu-Au.

The mineralization in PNDH003 is richer in gold than copper with average grades of 0.294 g/t Au to 0.142 per cent Cu across the 256 m interval, with the highest metal grades of 1.11 g/t Au (110 to 112 m), 1.35 per cent Cu (254 to 256 m), 9.4 g/t Ag (254 to 256 m) and 200 parts per million of Mo (86 to 88 m). Copper could become dominant in some zones of the system but for now the company is reporting in gold equivalent (AuEq) as gold has been observed to be the dominant metal in the system to date. If PNDH003 was being reported in copper equivalent it would be comparable in grade with the resource grade at the nearby Josemaria deposit.

The remainder of the current drill program will be completed at La Ollita with holes PNDH004, PNDH005 and PNDH006 now completed and PNDH007 currently being drilled. Drilling will continue to mid to late April, with approximately 3,100 m drilled so far.

La Pena (PNDH001) and Tamberias (PNDH002)

Drilling started at the two targets, La Pena (PNDH001) and Tamberias (PNDH002), with the most compelling exposed geology, surface soil and rock geochemistry, and magnetic and IP signatures. In both PNDH001 and PNDH002, Au-Cu and intermediate-sulphidation epithermal-style mineralization was encountered associated with quartz-diorite porphyry cut by various breccia facies including both magmatic-hydrothermal and late phreatomagmatic breccias. The early magmatic-hydrothermal breccia is mainly polymictic containing clasts of country rock, including porphyritic and fragmental rhyolite, granite, microdiorite, andesite and volcaniclastic rocks, as well as porphyry Cu clasts with A-style veins.

Assay results confirm low-tenor but consistent Au-Cu-Mo grades and Ag at La Pena. This is reminiscent of the periphery of Maricunga-style gold-rich porphyry systems, and the company is evaluating future drill hole locations to test different parts of these systems.

Additional lithocap targets -- Ritzuko, Punta Negra and Vicunita

Following the positive findings at La Ollita, the company has been conducting initial field investigations on other lithocap targets on the property known to host gold mineralization from historic geochemistry: two at Ritzuko and two on the new joint venture ground at Punta Negra and Vicunita. In all four locations there is a similar structural setting to La Ollita with the intersection of northeast-northwest faults and all four targets show visible advanced argillic alternation (alunite-pyrophyllite-dickite-kaolinite) on Aster images.

About Sendero Resources Corp.

The company is focused on copper-gold exploration at its 100-per-cent-owned Penas Negras project in the Vicuna belt in Argentina. The Penas Negras project has similar geological characteristics to other deposits in the Vicuna belt and a cluster of porphyry and epithermal targets have been identified on the project. The company, through its wholly owned subsidiary, Barton SAS, is the holder of 10 granted mining concessions covering 120 square kilometres in the province of La Rioja, Argentina. The company also has an option agreement to earn an 80-per-cent interest on eight granted mining concessions covering 91.7 square km adjacent to the east of the Penas Negras project. The company has an experienced management and exploration team who will use their expertise and operational knowledge to advance the multiple targets across the project.

Quality assurance/quality control statement

Sendero Resources follows industry-standard diamond core drilling and sample analysis procedures. Drilling is done with PQ- and HQ-size tools. The drill core is cut in half with a diamond rock saw and then half of the core is taken as a sample for analysis and the other as a log. Sampling intervals are two m intervals, producing samples between five and 15 kilograms. Half core samples are transported to Alex Stewart internationally certified laboratory facility in Mendoza, Argentina, where the samples are prepared. Alex Stewart has a quality management system (ISO 17025), and testing is performed in Mendoza, Argentina. Samples are fire tested for Au (Au4-30) and analyzed for Ag and multiple elements using the inductively coupled plasma method code (ICP-MA 39) after digestion with four acids (HF, HClO4, HNO3 and HCl). Overlimits are analyzed using an appropriate method (ICP-ORE). Multielement geochemical standards and blanks or duplicates are inserted systematically every 10 regular samples, having 10 per cent QA/QC control samples per hole, thus monitoring the laboratory performance. The control samples are inserted in a blank, standard and duplicate pattern. The standard is chosen between low, intermediate or high grade (Au-Cu) according to the geology observed in the corresponding interval. In reference to the chain of custody, the samples are transported from Penas Negras by Sendero Resources personnel to Alex Stewart laboratory in Mendoza, Argentina.

Qualified person

David Royle (FAusIMM (CP)) supervised the preparation of and reviewed and approved the scientific and technical information pertaining to the Penas Negras project contained in this news release. Mr. Royle has reviewed the sampling and QA/QC procedures and results as verification of the data disclosed in this news release. Mr. Royle is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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