Survey Report :: Silvermex Resources

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Company Fact Sheet

Date of Report:		August 26
Company Name:		Silvermex Resources
Stock Symbol:		SMR
Exchange:		TSX Venture
Company Website:		www.silvermexresources.com


Section A. Financial
1. When was the Company incorporated?		2005
2. Nature of current operations:		Exploration
3. Shares outstanding:		29,612,000
4. Shares fully diluted:		35,246,000
5. Options outstanding (grouped in reverse order by date):
	1 (most recent)	2	3	4
Number	100,000	550,000	1,000,000
Price	$0.96	$1.11	$0.30
Expiry	4/2012
6. Warrants outstanding, excluding brokers' warrants (in reverse order by date):
	1 (most recent)	2	3	4
Number	1,453,000	1,098,750	932,250
Price
Expiry
7. Financings in the past 24 months:
	1 (most recent)	2	3	4
Number of shares	2,906,000	2,000,000	2,000,000	6,900,000
Price of shares	$1.00	$1.00	$0.80	$0.30
Number of warrants (excluding brokers' warrants)	1,453,000	1,000,000	1,000,000
Exercise price of warrants	$1.25	$1.25	$1.00
8. Total number of shareholders:		500-999
9. Insider holdings:
Number of shares		10,200,000
Number of options
Number of warrants
10. Is there a share-based incentive plan?		No
11. If yes, detail:
12. Is there a Shareholders' Rights Plan in place?		No
13. Does a larger unrelated mining company hold greater than 5% of common shares, or is a joint venture with a larger company now in place?		Yes
14. Cash and short-term investments on hand ($):		$400,000
15. Book value of ABCP ($):
16. How many geologists (full-time equivalent) are engaged		10+
by the company?

Section B. On the subject of the lead geologist:
1. Name:		Miguel Soto, COO
2. Is this a Qualified person as defined in terms of NI 43-101?		No
3. Years of experience in the field:		20+
4. Has this person played a key role in advancing a project from early exploration to:
a) historic (non-compliant) resource, pre-NI 43-101		Yes
If yes, detail:	Designs and oversees all drill programs for Silvermex Resources at Penasco Quemado, San Marcial, El Rayo.
b) NI 43-101 resource estimate		Yes
If yes, detail, if different from above:	Resource Estimate at Penasco Quemado of 9.63 M ounces silver over approximately 6,000 m drilling. Recently oversaw additional 5,900 meters drilling at Penasco Quemado. Resource update pending.
c) joint venture with or buyout by a larger mining company
If yes, detail, if different from above:
d) an operating mine
If yes, detail, if different from above:

Section C. On the subject of the lead executive responsible for financing:
1. Name:		Bruce Bragagnolo, CEO
2. Years of experience in the field:		20+
3. Total funds ($CAD) raised for this company:		5m-9.9m
4. Total funds ($CAD) raised in the mining sector:		20m-49.9m
5. Names of all Investment Bankers involved in financing this company in the past 24 months:		Canaccord Capital, Versant Partners

Section D. Property #1
1. Name of the property:		San Marcial, Sinaloa
2. Location:		Mexico
3. Key resource targets (up to four):	Silver	Zinc	Lead
4. Is there paved road access to the property?		No
5. Distance to the nearest major city:		10-19.9km.
6. Distance to the nearest adequate power grid:		<5 km.
7. Distance to the nearest adequate water supply:		<5 km.
8. Distance to the nearest adequate labour supply:		5-9.9 km.
9. Distance to the nearest rail suitable for transport:		20-49.9 km.
10. Distance to the nearest port suitable for transport:		50 km.+
11. Distance to the nearest protected wildlife refuge:		50 km.+
12. Distance to the nearest tourist resort:		50 km.+
13. What is the mean elevation (msl) of the property?		500-999m.
14. Has this property been meaningfully mined before?		No
15. If yes, please describe any remaining usable infrastructure:
16. Is this property currently an operating mine?		No
17. If no, distance to the nearest mine for target metals:		50 km.+
18. Name of that mine and operator:		N/A
19. Is there a NI 43-101 compliant resource report for the property?		Yes
20. If yes, please describe the key report estimates:	145.26 Million ounces silver Inferred resource. (2.31 M tonnes @ 191.79 g/t Ag). Also, but not included: 0.66% Zn and 0.32% Pb.
21. If no, distance to nearest property with NI 43-101
compliant resource report.
22. Name of that property and operator:

23. Is the property owned outright by the company?		No
24. If no, has the company secured mineral rights?		Yes
25. If no, has the company secured surface rights?		No
26. Does the company have permitting to explore the property?		Yes
27. Does the company have permitting to mine the property?		No
28. Total metres of drilling now completed:		1-4,999
29. Total metres of drilling planned for next 12 months:		5,000-9,999
30. Number of drilling rigs now on the property:
31. Number of new rigs planned for next 12 months:		2
32. Number of months/yr. this property is open to exploration:		12
33. Number of months/yr. this property is open to mining:		12
34. Exploration budget on this property for next 12 months:		$2,000,000
35. Has metallurgical testing been completed in support of the case		Yes
for successful recovery of target metals for this deposit?

For this property, describe up to the three best drilling results:
Hole number 1
36. Name	SM-04
Start of mineralization in metres from the surface	0.00m
	Mineralized Metres	Metal	Grade	Measure
37. - 40.	53.95m	Silver	235.00	gpt


Hole number 2
41. Name	SM_13
Start of mineralization in metres from the surface	50.00m
	Mineralized Metres	Metal	Grade	Measure
42. - 45.	17.50m	Silver	621.00	gpt


Hole number 3
46. Name	SM-09
Start of mineralization in metres from the surface	30.00m
	Mineralized Metres	Metal	Grade	Measure
47. - 50.	12.68m	Silver	540.00	gpt


51. Website link to detailed drilling results:	http://www.silvermexresources.com/s/SanMarcial.asp

Section E. Property #2
1. Name of the property:		Penasco Quemado, Sonora
2. Location:		Mexico
3. Key resource targets (up to four):	Silver
4. Is there paved road access to the property?		No
5. Distance to the nearest major city:		20-49.9 km.
6. Distance to the nearest adequate power grid:		10-19.9km.
7. Distance to the nearest adequate water supply:		10-19.9km.
8. Distance to the nearest adequate labour supply:		10-19.9km.
9. Distance to the nearest rail suitable for transport:		20-49.9 km.
10. Distance to the nearest port suitable for transport:		50 km.+
11. Distance to the nearest protected wildlife refuge:		50 km.+
12. Distance to the nearest tourist resort:		50 km.+
13. What is the mean elevation (msl) of the property?		500-999m.
14. Has this property been meaningfully mined before?		No
15. If yes, please describe any remaining usable infrastructure:
16. Is this property currently an operating mine?		No
17. If no, distance to the nearest mine for target metals:		50 km.+
18. Name of that mine and operator:		N/A
19. Is there a NI 43-101 compliant resource report for the property?		Yes
20. If yes, please describe the key report estimates:	9.63 Million ounces silver, Measured and Indicated (3.565 M tonnes @ 116.9 g/t)
21. If no, distance to nearest property with NI 43-101
compliant resource report:
22. Name of that property and operator:
23. Is the property owned outright by the company?		Partially
24. If no, has the company secured mineral rights?		Yes
25. If no, has the company secured surface rights?		No
26. Does the company have permitting to explore the property?		Yes
27. Does the company have permitting to mine the property?		No
28. Total metres of drilling now completed:		10,000-19,999
29. Total metres of drilling planned for next 12 months:		1-4,999
30. Number of drilling rigs now on the property:
31. Number of new rigs planned for next 12 months:		1
32. Number of months/yr. this property is open to exploration:		12
33. Number of months/yr. this property is open to mining:		12
34. Exploration budget on this property for next 12 months:		$1,000,000
35. Has metallurgical testing been completed in support of the case		Now in process
for successful recovery of target metals for this deposit?

For this property, describe up to the three best drilling results:
Hole number 1
36. Name	PQ-03
Start of mineralization in metres from the surface	35.05m
37. - 40.	Mineralized Metres	Metal	Grade	Measure
	33.53m	Silver	239.00	gpt


Hole number 2
41. Name	PQRC-21
Start of mineralization in metres from the surface	6.00m
42. - 45.	Mineralized Metres	Metal	Grade	Measure
	52.50m	Silver	122.00	gpt


Hole number 3
46. Name	PQ-01
Start of mineralization in metres from the surface	0.00m
47. - 50.	Mineralized Metres	Metal	Grade	Measure
	36.58m	Silver	182.00	gpt


51. Website link to detailed drilling results:	http://www.silvermexresources.com/s/PenascoQuemado.asp

Additional comments provided by the Company
1. Just under one ounce per share 2. Low market capitalization per ounce valuation offers high degree of leverage 3. 7 projects in northwest Mexico 4. Resources are on/near surface and offer open pit potential. 5. Recent drill programs at San Marcial and Penasco Quemado - pending resource estimate updates. 6. Highly experienced and production oriented management and technical team.