I see that MAG recently reported interesting drill data from the Batopilas Project: http://www.magsilver.com/node/162

"MAG Silver Corp. (TSX: MAG; AMEX: MVG) announces that its 2008 exploration program on it’s 100% owned Batopilas Native Silver District has encountered a broad zone of silver/lead and zinc mineralization in Hole BA08-21 located in the Animas area. The zone starts immediately beneath the casing at 9.02 metres down hole and extends to 70.87 metres for a total core length of [b]61.2 metres grading 20.5 g/t silver, 0.66% lead and 0.84% zinc[/b]. " - ENDQUOTE

I think this is good news for EXM, because this appears to be the first wide interval of skarn bulk tonnage mineralization from this project. EXM controls the Huimayva Property, which completely surrounds MAGs Batopilas holdings, and EXM also did a JV deal with Canarc (CCM) for another small part of their holdings in the Batopilas district. So whatever may come to pass from the ongoing exploration work, it is going to generate more interest on what may extend onto the EXM holdings.

Batopilas is best known for extemely high grade native silver deposits that ran to the hundreds of ounces per ton silver, concentrated into narrow veinlets and ore shoots. It stands to reason that widespread disseminated ore would also be found in this area and it appears that MAG is now on to one such discovery with more news to come.

I know this will not do much to encourage some of the shareholders that are pissed off with the slow pace of exploration but just keep in mind that any deposits within the area controlled by EXM are not going to disappear if it takes a while to drill them off. This bull market will probably go for a long time yet and I think the stock will recover once the sector heats up again and EXM starts a few drill programs.

cheers!

mike

Voluntary disclosure: I own shares of EXM and the company is a paid advertiser on my website. I also own shares of MAG btw...