La Colorada Gold Project Acquisition Revised and Accelerated

Pediment Exploration Ltd. ("Pediment" or "the Company") is pleased to announce it has reached an agreement to adjust its original option to purchase certain holdings in the La Colorada gold-silver project, in order to both reduce the cash cost to the Company and to accelerate the acquisition.

La Colorada gold-silver project is a past producing mine site with historic output from both underground vein and open-pit to heap leach operations. The project is located on main highway and electrical grid infrastructure some 40 km southeast of Hermosillo, the capital and main supply point of Sonora State in north western Mexico. The subject holdings were originally included in an option to purchase agreement in late 2007 (see release dated October 22, 2007), and they encompass the past producing open pit and underground workings of the Gran Central, La Colorada and Intermediate zone deposits, portions of the workings of the El Creston deposits, along-trend exploration ground, and surface holdings that contain plant and office complexes built during open pit mining at the site from 1993-2002.

Under the original agreement Pediment was to pay a total of US$2.75 million over a three year period in order to earn a 100% interest, of which US$1.1 million has been paid. Under the revised agreement Pediment will make one further payment of US$825,000 cash, assign certain production royalties, and allow the vendor the right to bid on a competitive basis for contracts to conduct open pit mining at La Colorada should the Company choose to re-develop the project on that basis. The royalties are Net Smelter Return (NSR) on material from the subject holdings, of 3% if open pit mined or of 2% if underground mined. The 2% NSR on underground production can be purchased by Pediment at any time for US$300,000. The vendors are working on securing an adjacent concession which the Company has agreed to purchase for 300,000 shares.

Pediment owns or controls 100% of all areas of historic open pit mining and all known areas of historic underground production from the La Colorada gold-silver camp, plus owns or holds options to acquire adjacent areas of exploration potential. By completing this revised agreement the Company gains, in addition to a lower cash outlay, a greater flexibility in dealing with the various scenarios that might allow the redevelopment of the project.

In addition to La Colorada, Pediment owns the San Antonio gold project in Baja California Sur for which an initial inferred resource estimate announced in June (see release dated June 16, 2008) for Los Planes and Las Colinas zones respectively indicated 1.45 million troy ounces (combined) of gold within 30.58 million tonnes averaging 1.32 g/t gold and 5.62 million tonnes averaging 0.83 g/t gold (0.4 g/t cut-off grade). These mineral resource estimates are compliant with the requirements of National Instrument policy 43-101. The Company is awaiting results of initial column leach tests on material from San Antonio. Pediment's VP Exploration Mel Herdrick is a qualified person as defined by NI-43-101 and has approved this release.

Pediment also owns: the separate El Triunfo concessions near San Antonio containing areas of historic silver production plus areas being targeted as a possible extension of the regional system hosting gold at San Antonio; a series of early phase gold exploration projects within the Mojave-Sonora Megashear trend of western Sonora State; and the Valenzuela silver project in eastern Sonora State.

Pediment's CEO Gary Freeman comments: "we are very pleased that both sides of this agreement have recognized the changed conditions since it was originally signed, and been able to make adjustments that benefit both parties and that further the potential to move La Colorada to redevelopment status. Upon closing of the revised agreement Pediment will own both of its main gold assets in western Mexico, and be able to continue work on each of them in the most efficient way for its shareholders."

Pediment is a Vancouver based exploration company, listed on the TSX Venture Exchange under ticker symbol "PEZ", that is focused on advancing gold projects in north western Mexico through exploration and resource definition. Pediment is well funded with $16.5 million of working capital and no debt.

For additional information please contact Gary Freeman or Michael Rapsch 604-682-4418.

On behalf of the board

Gary Freeman
President & CEO

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