Joint Venture Finalized On

Joint Venture Finalized On Rio Grande Property

VANCOUVER, BC – Pachamama Resources Ltd. reported that a joint venture agreement has been signed with its partner, Antares Minerals Inc., on the 50/50 owned Rio Grande property located in northwestern Argentina. The joint venture agreement between the Company, Antares, and their respective Argentinean subsidiaries is in the form of a UTE (Union Transitoria de Empresas) that will be registered under the laws of Argentina. The UTE agreement defines the terms which will govern the development of the Rio Grande Cu-Au deposit going forward. Under the agreement, Antares will remain the project operator.

To date, the parties have drilled +33,000 metres in 78 diamond drill holes at Rio Grande. Pachamama’s management looks forward to announcing exploration plans with Antares on this very prospective project in the New Year.

The company’s address is Suite 922, 510 West Hastings Street, Vancouver, BC V6B 1L8, 604-681-4462, fax: 604-681-0180.