Cigma Metals Corporation Announces Maiden Resources of 4,879,630 Ounces of Gold Equivalent at Beskauga Gold-Copper-Molybdenum Deposit, Kazakhstan

• Press Release
• Source: Cigma Metals Corporation
• On 7:04 pm EDT, Monday March 9, 2009

ALMATY, KAZAKHSTAN--(MARKET WIRE)--Mar 9, 2009 -- Cigma Metals Corporation (the "Company," "Cigma") (Other OTC:CGMX.PK - News) (Frankfurt:C9KA.F - News) is pleased to announce a maiden Inferred Resource for the Beskauga gold-copper-molybdenum prospect in Kazakhstan.

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HIGHLIGHTS

 
-- Beskauga Deposit is a large-scale
   gold-copper-porphyry
   mineralization system
-- Beskauga Deposit resources of
   217.01Mt grading at 0.7g/t gold
   equivalent based on current prices
   for 4,879,630 ounces of gold

or
   -- 0.34g/t for 2,380,644 oz of
      contained gold
   -- 0.17% for 368,485 tonnes of
      contained copper
   -- 1.482g/t for 10,342,519 oz
      of contained silver
   -- 0.0141% for 30,599 tonnes of
      contained molybdenum
-- Deposit remains open along strike
   and at depth - aggressive
   exploration campaign continues

During 2008 the Company completed 16 diamond drill holes (DDH) for a total of 4,715 meters with an average drill hole depth of 295 meters. The drilling program targeted large geochemical anomalies of gold, copper and molybdenum obtained by previous exploration. The drilling led to a discovery of two large mineralization zones within an aureole of hydrothermal alteration over an area of 7 km2. The drilling confirmed over 2,000 meters of interrupted continuity for each mineralization zone along strike with an average width of approximately 200 meters for the eastern zone and 60 meters for the western zone. The gold-copper mineralization remains open on both ends of the zones. The mineralization is characterized by the steep dipping. It has been traced down to a depth of 400 meters and remains open. Both zones maintain a consistent width from the top to the bottom and vary from 70 to 440 meters in the eastern zone and 25m to 100m in the western zone (Figure 2).

The Australasian Joint Ore Reserves Committee (the "JORC") code compliant resources have been based on a 0.13 g/t natural lower gold cut-off grade and were estimated by Micromine Pty Ltd. The estimate is based on the results of Cigma's drilling and sampling campaign which extended the previously defined mineralized zones, discovered new mineralized zones and validated historical sampling data from Soviet exploration programs. 27 drill holes, both recent and historic were included for the resource estimation. A summary of the resource estimate is presented in Table 1 and more detailed notes are provided at the end of this announcement.

 
Table 1: Summary of the Resources for the Beskauga Deposit

Au
Cut
Off    Tones   Au    Ag     Cu     Mo    Au Metal  Ag Metal    Cu     Mo
From   '000 t  g/t   g/t    %      %        Oz        Oz      Tons   Tons
----  ------- ----- ----- ------ ------ --------- ---------- ------- ------
0.00  217,010 0.341 1.482 0.1698 0.0141 2,380,644 10,342,519 368,484 30,598
0.10  214,308 0.345 1.485 0.1705 0.0142 2,374,909 10,235,092 365,310 30,453
0.20  200,381 0.356 1.504 0.1738 0.0139 2,292,085  9,691,980 348,183 27,833
0.30  155,950 0.385 1.441  0.184 0.0103 1,930,012  7,222,565 286,995 16,031
0.40   46,391 0.487 1.732 0.2278 0.0181   726,210  2,582,895 105,698  8,387
0.50   11,526 0.610 2.223  0.336 0.0580   226,057    823,861  38,729  6,680
0.60    3,881 0.751 2.574 0.4712 0.0369    93,767    321,150  18,288  1,432

Beskauga Deposit - Primary Geology and Infrastructure

Beskauga is a large gold-copper-porphyry system with an area of over 7km2. The deposit area is composed of strongly hydrothermally altered volcanic and intrusive rocks with numerous geochemical gold-copper anomalies. The gold-copper mineralization is associated with pyrite and chalcopyrite within wide-spread zones of chlorite-epidotic alteration. Molybdenum, average grade of 0.014%, is quite frequently associated with gold and copper. Molybdenum is a common by-product of world copper-porphyry deposits and seriously enhances the value of the ores. The Beskauga deposit belongs to a gold-copper-porphyry type of mineralization, which controls over 70% of world copper resources. This type of mineralization is characterized by large dimensions and relatively low grades. Since 1980th several gold-copper mines world-wide have been producing copper-gold concentrates from ores grading 0.3g/t to 1.0g/t of gold equivalent. The ore resources of such deposits usually extend hundred of million tones.

The Dostyk project of 14,000 km2 (Figure 1) is located in the North Eastern region of Kazakhstan near to the Russian and Chinese border. Infrastructure is just perfect with roads and railways crossing the license area. The region has been mined for gold, base metals, nickel, coal and others. Power lines with voltage up to 1,150 kW cross the project area.

Resource Modeling Methodology

1. Database Compilation

The supplied data consisted of:

-- 11 historic drill holes

-- 16 recent drill holes

2. Classical Statistical Analysis

The classical statistical analysis was performed for gold values, since gold is the major element and has the primary interest of the exploration program. The analysis demonstrated no mixing grade populations and distinct population at 0.13 cut off.

3. Interpretation

Grade composites were created for the selected cut off grade to assist with the interpretation. The composite intervals were displayed along the drill hole traces and used for the interpretation. The minimum composite length was selected as 1 m, and the maximum consecutive interval of waste material was selected as 5 m.

Interpretation was carried out interactively for about 11 cross sections consisting of 9 major sections and 2 intermediate sections.

4. Wireframing

The interpreted strings were used to generate three-dimensional solid wireframes for the mineralized envelopes. A representative 3D view of the completed wireframe is shown below.

5. Analytical data selection and compositing

Drill hole data selection is a standard procedure which ensures that the correct samples are used in the classical statistical and geostatistical analyses and grade interpolation processes. For this purpose, the solid wireframes for each mineralized envelope were subsequently used to select the drill hole samples. Samples were selected for individual mineralized envelopes and flagged accordingly.

Classical statistical analysis was then repeated for those gold grades within the mineralized envelopes. The analysis did not demonstrate any gold grade mixing.

6. Block Modeling

Block modeling included several stages. Firstly, the empty block models were created within the closed wireframe models for the mineralized envelopes for the cut off grade. The resultant models were subsequently coded and added together into a single model file. The block model was then restricted with the topography (DTM) and overburden surfaces, i.e. all the model cells above these surfaces were deleted from the model file.

7. Grade Interpolation

All element grades were interpolated into the empty block model using the Inverse Distance Weighting method.

Cigma Metals Corporation is a mineral exploration company focusing on the exploration and development of its mineral exploration property located in the Pavlodar province of Kazakhstan and its two exploration properties in the Tomsk province of Russia. All the project areas were selected due to their proximity to a well-developed infrastructure, known mineral occurrences and from historical records of gold and base metals production. The Company's stock is quoted for trading in the United States of America on the OTC Pink Sheets under the symbol "CGMX.PK," and under the symbol "C9KA.F" on the Frankfurt Exchange, in Germany.

 
For further information please contact Agustin Gomez de Segura:

Address:   18, 80 Furmanova Str, Almaty, Republic of Kazakhstan
Telephone: Almaty Office +7 327 2611 026
Website:   http://www.cigmametals.com

ON BEHALF OF THE BOARD

"Agustin Gomez de Segura"
Agustin Gomez de Segura
President, CEO and Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. These cautionary statements qualify all of the forward-looking statements made in this press release. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov/.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

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     For further information please contact Agustin Gomez de Segura:
      
     Address:  18, 80 Furmanova Str, Almaty, Republic of Kazakhstan
     Telephone:     Almaty Office +7 327 2611 026
     Website:  http://www.cigmametals.com