Feasibility Study

The engineering firm, MinProc of Australia, is conducting a US$ 15 million feasibility study on the project, due for completion in early 2009. Both the feasibility study and the 2007, US $10 million exploration program were fully funded by Votorantim and Karmin will not be required to contribute any development funds until after the feasibility study is complete and a production decision is made. Votorantim reported that during June, 4 diamond drill holes were completed totalling 764 metres. In 2008, 8,650 metres of resource drilling have been completed, 5% ahead of the planned schedule. In addition, diamond drilling and percussive drilling units have been deployed for detailed geotechnical evaluation of the Arex open pit which is slated to be the first deposit to be mined.

The recent Votorantim exploration program has been considered extremely successful. The program has discovered two new massive sulphide bodies: at Babacu at depth, with highlights including 3 metres grading 11.7% zinc, 3.8% lead and 147.4 g/t silver and 22.1 metres grading 5.0% zinc, 1.6% lead and 46.3g/t silver (see press release of July 12th 2007) and at Ambrex Deep with highlights including 11.8 metres grading 21.9% zinc, 8.5% lead and 177g/t silver (see release of May 14th 2008). No resources from these new discoveries are included in the project's NI 43-101 published indicated resources of 27.7 million tonnes grading 3.53% zinc, 1.34% lead and 35.25 g/t silver.

Exploration

The regional exploration program is ongoing to continue to seek new mineralization to add to the 7 bodies already discovered. As part of this program, in June 1,316 soil and rock samples were sent to the laboratories for analysis, as a compliment to the ongoing mapping program.

About Karmin and Aripuana

The Arex, Ambrex, Ambrex Deep, Babacu, Massaranduba, Baroca and Mocoto massive sulphide bodies were discovered by Karmin and its partners in the emerging Aripuana massive sulphide district which is considered to lie entirely within Karmin's joint venture area. The first National Instrument 43-101 compliant indicated resource at Aripuana was reported on October 20th, 2007.

Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin through its subsidiary Mineracao Rio Aripuana Ltda. holds 30% of the Aripuana project. Karmin is free carried to the completion of a fully independent bankable feasibility study. The remaining 70% is owned by Anglo American Corporation who is optioning their interest to Votorantim Metais (a division of the privately-held Votorantim Group), the project operator, and Votorantim have already earned 70% of Anglo's interest. Votorantim, the world's 6th largest zinc producer, have two zinc smelters, and are currently purchasing over 50% of their concentrate needs. Their stated objective is to find more zinc resources from their own mines to feed concentrates to their smelters, rather than rely on external mining companies.

Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 38,453,591 shares outstanding and 41, 053,591 fully diluted. William Fisher, P.Geo. President of Karmin is the designated Qualified Person under National Instrument 43-101. He has reviewed this release for accuracy.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin and Votorantim are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
Karmin Exploration
William (Bill) Fisher P.Geo
President & CEO
(416) 367-0369
(416) 868-6467 (FAX)
Email: wfisher@karmin.com
Website: www.karmin.com

Bay Street Connect
Michael D'Amico
(647) 500-6023
Email: michael@baystreetconnect.com

SOURCE: Karmin Exploration Inc.

mailto:wfisher@karmin.com
http://www.karmin.com
mailto:michael@baystreetconnect.com

Votorantim also reported that they completed 817.3 metres in 3 drill holes in May, and took 468 soil samples in the ongoing regional exploration programs.

View Geological Maps at http://www.karmin.com/content/ArexAmbrexBabacu-GeologicalMaps.html.

Background

The Arex, Ambrex, Ambrex Deep, Babacu, Massaranduba, Baroca and Mocoto massive sulphide bodies were discovered by Karmin and its partners in the emerging Aripuana massive sulphide district which is considered to lie entirely within Karmin's joint venture area. The combined exploration, development and metallurgical drilling program for 2008 is planned to be over 25,000 metres, of which 7,887 metres were completed by the end of May, 13% ahead of schedule. The first National Instrument 43-101 compliant indicated resource at Aripuana was reported on 20th October 2007 as 27.7 million tonnes grading 3.53% zinc, 1.34% lead and 35.25 g/t silver.

Table 1. Drill Results from the May Monthly report
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Target     Hole ID     From      To   Drill  Silver  Copper    Lead    Zinc
                                     length     gms/      %       %       %
                                              tonne
Arex       FPAR147     38.2    66.6   28.40      NR    0.10    4.15    9.14
----------------------------------------------------------------------------
Ambrex     FPAR162    279.0   286.6     7.6     7.0     0.1     0.3     3.9
           FPAR162    313.9   333.0    19.1    40.0     0.0     1.4     3.5
           FPAR162    338.0   343.0     5.0    50.0     0.1     2.4    10.1
           FPAR162    348.5   354.6     6.1    17.0     0.0     1.2     4.1
           FPAR162    364.6   374.0     9.4    41.0     0.1     1.5     3.4
           FPAR162    389.0   401.1    12.1    21.0     0.0     1.0     2.9
           FPAR162    482.4   491.7     9.3    17.0     0.0     0.9     3.9
           FPAR162    506.2   512.8     6.6    21.0     0.0     1.2     3.7
           FPAR162    532.9   536.4     3.5    41.0     0.0     2.0    11.5
Ambrex     FPAR164    277.4   290.4    13.1      NR     0.1     0.8     2.9
           FPAR164    300.0   304.4     4.4      NR     0.0     1.0     3.0
           FPAR164    318.0   326.1     8.1      NR     0.9     0.3     4.7
Ambrex     FPAR166    279.0   287.0     8.0    82.0     0.0     3.1     4.4
           FPAR166    323.0   327.8     4.8    44.0     0.1     1.4     4.0
           FPAR166    337.6   342.3     4.6    27.0     0.0     0.9     2.8
Ambrex     FPAR167    333.1   345.9    12.8    15.0     0.0     0.8     2.5
           FPAR167    347.7   358.5    10.8    19.0     0.0     1.3     3.0
           FPAR167    377.2   383.1     6.0      NR     0.0     0.5     4.6
Ambrex     FPAR168    395.6   420.0    24.4    23.0     0.0     1.3     5.4
Ambrex     FPAR200    543.3   546.3     3.0      NR     0.0     1.1     4.0
           FPAR200    547.5   555.3     7.8             0.0     3.7    10.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Scientific and Technical Information

Sample preparation for Votorantim was undertaken at ALS Chemex laboratory - Belo Horizonte, Brazil and the pulps analyzed at ALS Chemex laboratory - Lima, Peru using full digestion ICP assay. Full QA/QC procedures were implemented, including the insertion of one out of three standards every 40th sample and blank samples inserted every 40th sample (i.e. every 20th sample was either a standard or blank). Pulp and coarse reject duplicate samples were also inserted every 20th sample. Field duplicate (replicate) were also inserted every 20th sample during some period and now are inserted every 100th sample. Randomly selected check samples are routinely sent to another international laboratory for analysis by ICP on a yearly basis. This procedure is followed systematically by Votorantim, and was their stated procedure for all previously reported results by Karmin for 2007.

About Karmin

Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin through its subsidiary Mineracao Rio Aripuana Ltda. holds 30% of the Aripuana project. Karmin is free carried to the completion of a fully independent bankable feasibility study. The remaining 70% is owned by Anglo American Corporation who is optioning their interest to Votorantim Metais (a division of the privately-held Votorantim Group), the project operator, and Votorantim have already earned 70% of Anglo's interest. Votorantim, the world's 6th largest zinc producer, have two zinc smelters, and are currently purchasing over 50% of their concentrate needs. Their stated objective is to find more zinc resources from their own mines to feed concentrates to their smelters, rather than rely on external mining companies. Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 38,453,591 shares outstanding and 41,453,591 fully diluted. William Fisher, P.Geo. President of Karmin is the designated Qualified Person under National Instrument 43-101. He has reviewed this release for accuracy.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin and Votorantim are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
Karmin Exploration Inc.
William (Bill) Fisher P.Geo
President & CEO
(416) 367-0369
(416) 868-6467 (FAX)
Email: wfisher@karmin.com
Website: www.karmin.com

Bay Street Connect
Michael D'Amico
(647) 500-6023
Email: michael@baystreetconnect.com

SOURCE: Karmin Exploration Inc.

mailto:wfisher@karmin.com
http://www.karmin.com
mailto:michael@baystreetconnect.com

Feasibility Study

The engineering firm, MinProc of Australia, is conducting a US$ 15 million feasibility study on the project, due for completion in early 2009. Both the feasibility study and the 2007, US $10 million exploration program were fully funded by Votorantim and Karmin will not be required to contribute any development funds until after the feasibility study is complete and a production decision is made. Votorantim reported that during June, 4 diamond drill holes were completed totalling 764 metres. In 2008, 8,650 metres of resource drilling have been completed, 5% ahead of the planned schedule. In addition, diamond drilling and percussive drilling units have been deployed for detailed geotechnical evaluation of the Arex open pit which is slated to be the first deposit to be mined.

The recent Votorantim exploration program has been considered extremely successful. The program has discovered two new massive sulphide bodies: at Babacu at depth, with highlights including 3 metres grading 11.7% zinc, 3.8% lead and 147.4 g/t silver and 22.1 metres grading 5.0% zinc, 1.6% lead and 46.3g/t silver (see press release of July 12th 2007) and at Ambrex Deep with highlights including 11.8 metres grading 21.9% zinc, 8.5% lead and 177g/t silver (see release of May 14th 2008). No resources from these new discoveries are included in the project's NI 43-101 published indicated resources of 27.7 million tonnes grading 3.53% zinc, 1.34% lead and 35.25 g/t silver.

Exploration

The regional exploration program is ongoing to continue to seek new mineralization to add to the 7 bodies already discovered. As part of this program, in June 1,316 soil and rock samples were sent to the laboratories for analysis, as a compliment to the ongoing mapping program.

About Karmin and Aripuana

The Arex, Ambrex, Ambrex Deep, Babacu, Massaranduba, Baroca and Mocoto massive sulphide bodies were discovered by Karmin and its partners in the emerging Aripuana massive sulphide district which is considered to lie entirely within Karmin's joint venture area. The first National Instrument 43-101 compliant indicated resource at Aripuana was reported on October 20th, 2007.

Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin through its subsidiary Mineracao Rio Aripuana Ltda. holds 30% of the Aripuana project. Karmin is free carried to the completion of a fully independent bankable feasibility study. The remaining 70% is owned by Anglo American Corporation who is optioning their interest to Votorantim Metais (a division of the privately-held Votorantim Group), the project operator, and Votorantim have already earned 70% of Anglo's interest. Votorantim, the world's 6th largest zinc producer, have two zinc smelters, and are currently purchasing over 50% of their concentrate needs. Their stated objective is to find more zinc resources from their own mines to feed concentrates to their smelters, rather than rely on external mining companies.

Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 38,453,591 shares outstanding and 41, 053,591 fully diluted. William Fisher, P.Geo. President of Karmin is the designated Qualified Person under National Instrument 43-101. He has reviewed this release for accuracy.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin and Votorantim are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

SOURCE: Karmin Exploration Inc.

Karmin Exploration
William (Bill) Fisher P.Geo
President & CEO
(416) 367-0369
(416) 868-6467 (FAX)
Email: wfisher@karmin.com
Website: www.karmin.com
Bay Street Connect
Michael D'Amico
(647) 500-6023
Email: michael@baystreetconnect.com