Explorator Intercepts Significant Copper-Gold Mineralization in the La Viuda Zone

TORONTO, ONTARIO, Jul 23 (MARKET WIRE) --
Explorator Resources Inc. (Explorator or the Company) (TSX VENTURE: EXO)
is pleased to announce continued success in intersecting additional
significant copper-gold mineralization as part of its 30,000 meter Phase
III drilling program at the El Espino-Venus Project (the Project ) in
Chile. These results focus on drilling performed on the La Viuda area of
the Project (see attached map of the El Espino-Venus property).

We are intersecting substantial oxide copper-gold mineralization in the
La Viuda area, which will add to the overall estimated oxide resource of
the El Espino-Venus Project. stated David O Connor, President and CEO of
Explorator Resources. Oxide intercepts include Hole MXE 160 (54 meters at
0.65% Cu), Hole MXE 179 (32 meters at 0.77% Cu), Hole MXE 210 (16 meters
at 0.54% Cu from surface), Hole MXE 211 (62 meters at 0.63% Cu from
surface) and Hole MXE 212 (36 meters at 0.82% Cu from surface). We are
extremely encouraged by the results and in particular, the amount of
mineralization that extends from surface. We expect that these results
will factor positively in both the update of the current estimated
resource and in the results of the scoping study addressing the oxide
potential, added Mr. O Connor.

In addition, the copper-gold mineralization intersected in the La Viuda
area has a substantially higher proportion of gold than other parts of
the El Espino system and there is relatively more vein hosted
mineralization. A number of sulfide intersections highlight the potential
for gold rich sulfide copper resources at La Viuda. These include Hole
MXE 188 (26 meters at 0.61% Cu), MXE-209 (6 meters at 0.60% Cu, 0.19 g/t
Au), MXE 237 (10 meters at 0.54% Cu, 0.46 g/t Au, 18 meters at 0.42% Cu,
0.29 g/t Au and 3 meters at 0.27% Cu and 0.84 g/t Au) and MXE 239 (14
meters at 0.46% Cu, 0.17 g/t Au).

The area includes the old La Viuda gold mine. Hole MXE 209 intercepted
four meters at 3.73 g/t Au and 1.56% Cu as well as two meters at 1.34 g/t
Au and 0.04% Cu. These high gold values will be included in a study of
the potential higher grade gold resource (the Chon Chon gold Project),
which will be additional to the copper-gold resources.

The initial National Instrument 43-101 ( NI 43-101 ) mineral resource
estimates on the El Espino part of the deposit, audited by Micon
International (see press release dated February 27, 2008) describe: (1)
oxide mineralization containing 11.1 million tonnes grading 0.63% Cu and
0.17 g/t Au in an indicated category and 11.5 million tonnes grading
0.46% Cu and 0.27 g/t Au in an inferred category; and (2) sulphide
mineralization containing 0.6 million tonnes grading 0.91% Cu and 0.39
g/t Au in an indicated category and 77.2 million tonnes grading 0.63% Cu
and 0.18 g/t Au in an inferred category.

About Explorator Resources

Explorator Resources is a Canadian-based mining exploration company
focused on advancing its El Espino-Venus Copper-Gold Project in Chile.
The Company is currently completing a Phase III 30,000 meter drill
program, the results of which will update the current NI 43-101 mineral
resource estimate and is completing a scoping study on the Project s
oxide mineralization. The Project lies within the prolific copper-gold
mineral area of the Cordillera de la Costa and is central to an important
cluster of "Candelaria-style" copper-gold deposits. It is located 3.5
hours drive north of Santiago. The El Espino-Venus block covers 75 square
kilometres and is host to major gold and copper mineralized structures on
which nine small operating mines have been developed.

LA VIUDA ZONE RECENT DRILL INTERCEPTS

----------------------------------------------------------------------------
HOLE FROM TO INTERCEPT Cu Au
----------------------------------------------------------------------------
NO (m) (m) (m) (%) (g/t) Type
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 100 106 108 2 0.59 0.02 sulfide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 134 4 24 20 0.44 0.41 oxide
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48 60 12 0.29 0.07 oxide
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Incl. 48 52 4 0.64 0.15 oxide
----------------------------------------------------------------------------

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MXE 135 0 4 4 0.36 0.53 oxide
----------------------------------------------------------------------------
8 16 8 0.34 0.08 oxide
----------------------------------------------------------------------------

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MXE 136 130 140 10 0.35 0.07 sulfide
----------------------------------------------------------------------------

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MXE 137 66 72 6 0.19 0.12 Oxide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 138 80 92 12 0.22 0.03 Oxide
----------------------------------------------------------------------------
136 144 8 0.40 0.10 Mixed
----------------------------------------------------------------------------

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MXE 139 40 50 10 0.30 0.12 Oxide
----------------------------------------------------------------------------

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MXE 160 44 70 26 0.34 0.05 Oxide
----------------------------------------------------------------------------
80 158 78 0.58 0.25
----------------------------------------------------------------------------
Incl. 80 134 54 0.66 0.32 Oxide
----------------------------------------------------------------------------
Incl. 138 158 20 0.46 0.10 Sulfide
----------------------------------------------------------------------------

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MXE 161 30 40 10 0.45 0.09 Oxide
----------------------------------------------------------------------------

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MXE 162 10 38 28 0.39 0.25 Oxide
----------------------------------------------------------------------------
Incl. 22 34 12 0.63 0.51 Oxide
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50 76 26 0.22 0.52 Oxide
----------------------------------------------------------------------------
Incl. 70 74 4 0.61 1.80 Oxide
----------------------------------------------------------------------------
80 94 14 0.45 1.03 Oxide
----------------------------------------------------------------------------
Incl. 88 94 8 0.70 1.76 Oxide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 163 0 18 18 0.38 0.07 Oxide
----------------------------------------------------------------------------
52 56 4 0.99 1.64 Oxide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 188 200 204 4 0.65 0.06 Sulfide
----------------------------------------------------------------------------
228 244 26 0.61 0.03 Sulfide
----------------------------------------------------------------------------
254 256 2 0.94 0.10 Sulfide
----------------------------------------------------------------------------

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MXE 179 0 32 32 0.77 0.14 Oxide
----------------------------------------------------------------------------
78 104 26 0.38 0.05 Oxide
----------------------------------------------------------------------------
Incl. 82 96 14 0.54 0.06 Oxide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 208 0 16 16 0.32 0.05 Oxide
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64 70 6 0.41 0.14
Oxide---------------------------------------------------------------------------

150 160 10 0.44 0.10 Oxide
----------------------------------------------------------------------------

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MXE 209 134 140 6 0.60 0.19 Sulfide
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158 162 4 1.56 3.73 sulfide
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172 174 2 0.04 1.34 Sulfide
----------------------------------------------------------------------------

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MXE 210 0 16 16 0.54 0.24 Oxide
----------------------------------------------------------------------------
44 48 4 0.57 0.16 Oxide
----------------------------------------------------------------------------

----------------------------------------------------------------------------
MXE 211 0 62 62 0.63 0.11 Oxide
----------------------------------------------------------------------------
Incl. 0 14 14 1.12 0.15 Oxide
----------------------------------------------------------------------------

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MXE 212 0 36 36 0.82 0.13 Oxide
----------------------------------------------------------------------------

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MXE 220 58 64 6 0.34 0.09 Oxide
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70 84 14 0.29 0.05 Oxide
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90 110 20 0.32 0.03 Oxide
----------------------------------------------------------------------------
122 126 4 0.75 0.06 Oxide
----------------------------------------------------------------------------

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MXE 221 42 52 10 0.48 0.11 Oxide
----------------------------------------------------------------------------

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MXE 237 46 50 4 0.64 0.11 Oxide
----------------------------------------------------------------------------
97 103 6 0.44 0.35 Sulfide
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143 153 10 0.54 0.46 Sulfide
----------------------------------------------------------------------------
226 244 18 0.42 0.29 Sulfide
----------------------------------------------------------------------------
267 273 6 0.33 0.39 Sulfide
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302 305 3 0.27 0.85 Sulfide
----------------------------------------------------------------------------

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MXE 239 121 127 6 0.35 0.05 Oxide
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130 144 14 0.46 0.17 Sulfide
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151 153 2 0.47 0.08 Sulfide
----------------------------------------------------------------------------

To view the Figure 1 Ravanales Location Map and Resource Map, please
visit the following link:
http://media3.marketwire.com/docs/exofigure1723.pdf

To view the Figure 2 La Viuda Drill Hole Location Map, please visit the
following link: http://media3.marketwire.com/docs/exofigure2723.pdf

REGULATORY FOOTNOTE

Mr. Michael Schuler, Explorator Resources' Vice President, Exploration is
the "Qualified Person" as defined under the National Instrument 43-101
and is responsible for the scientific and technical work on Explorator's
exploration program and is responsible for reviewing the technical
disclosure in this news release. All analytical work has been completed
by ALS Chemex of La Serena in Chile; ALS Chemex is a respected
international analytical service which is accredited with NATA and
complies with standards of ISO 9001:2000 and ISO17025:1999. They employ a
variety of international standards for quality control purposes. Samples
are transported from the project to the ALS Chemex laboratory in La
Serena sample by Company personnel or a reputable commercial carrier. All
analytical testing is performed utilizing a variety of industry standard
analytical techniques, including: (1) ALS Analytical Code Au-ICP22 (Au
50g fire assay with ICP-AES finish), (2) ALS analytical code Au-GRA22 (Au
50g fire assay with a gravity finish), (3) ALS analytical code ME-ICP61
(33 element analysis using a four acid digestion and ICP-AES analysis),
(4) ALS analytical code Cu-AA62 (ore grade copper analysis using a four
acid digestion and an AAS finish. All diamond drill core is geologically
logged, cut in half using a diamond saw and sampled by Company geologists
in one (1) to three (3) meter sample intervals depending on visual grade
estimates; the archive portion of the sample is securely stored at the
company's core shed adjacent to the office in the town of Illapel.

The Company has initiated a QA/QC program consisting of utilizing
standards, duplicate and blank samples and laboratory cross-checks and
routinely repeats sample analysis.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release may contain
forward-looking information within the meaning of Canadian securities
laws. Such forward-looking information are identified by words such as
"estimates", "intends", "expects", "believes", "may", "will" and
included, without limitation, statements regarding the company's plan of
business operations, production levels and costs, potential contractual
arrangements and the delivery of equipment, receipt of working capital,
anticipated revenues, mineral reserve and mineral resource estimates, and
projected expenditures. There can be no assurance that such statements
will prove to be accurate; actual results and future events could differ
materially from such statements. Factors that could cause actual results
to differ materially include, among others, metal prices, risks inherent
in the mining industry, financing risks, labour risks, uncertainty of
mineral reserve and resource estimates, equipment and supply risks,
regulatory risks and environmental concerns. Most of these factors are
outside the control of the company. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the company
expressly disclaims any intent or obligation to update publicly
forward-looking information, whether as a result of new information,
future events or otherwise.

Contacts:
Explorator Resources Inc.
Tony Wonnacott
Director & Corporate Secretary
(416) 775-7540
Email: inquiry@explorator.ca
Website: www.explorator.ca

Copyright 2008, Market Wire, All rights reserved.

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