Plexmar Resources Inc.: 2011 Year End Financial Statements

QUEBEC CITY, QUEBEC -- (Marketwire) -- 05/03/12 -- Plexmar Resources Inc. (TSX VENTURE: PLE) announces that it is late in filing the 2011 year end Audited Financial Statements and related Management Discussion & Analysis and the CEO and Corporate Controller certification of filings (collectively, the "2011 Filings").

The delay is caused by the time and efforts put into the recently announced plan of Arrangement and the negotiation of a credit facility of up to US$1,000,000 allowing the Company to finalize the audit process. (See April 23th release). The delay is not a result of any "Reportable Events", as defined under National Instrument 51-102 Continuous Disclosure Obligations.

It is expected that the audit will be completed within two weeks and the 2011 Filings will be filed on or about May 14, 2012.

Plexmar intends to satisfy the provisions of the alternative information guidelines so long as it remains in default of its filing obligations described above.


FORWARD-LOOKING STATEMENTS

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.


PROFILE
Plexmar is a junior company focused on precious metals in Peru

PROPERTIES
Gold: Peru: Oro Del Norte, Marilia, Bolsa Del Diablo,

CORPORATE INFO
228 M shares outstanding, Symbol: PLE (TSX-V)



Contacts:

Plexmar Resources Inc.
Guy Bedard, president
418 658-6776