Pachamama Resources Ltd. ("Pachamama" or the "Company") announces that its joint venture partner, Regulus Resources Inc. ("Regulus", (REG TSX:V), has completed the first independent National Instrument ("NI") 43-101 compliant resource estimate on the Company's 50%-owned Rio Grande copper-gold-silver project located in Salta Province, Argentina. The Rio Grande project is a 50/50 joint venture between Regulus and Pachamama, with Regulus acting as the operator.

Based on drilling prior to 2011, a substantial resource has been outlined containing gold (637,025 oz. indicated plus 1,002,458 oz. inferred), silver (7,787,342 oz. indicated plus 14,449,042 oz. inferred) and copper (416,240,000 lbs. indicated plus 674,405,000 lbs. inferred). This estimate does not include any results from the ongoing 15,000 meter drill program in 2011 which is nearing completion. This program was designed to infill the initial resource area and test new underexplored areas along the ring structure as well as at depth. Results from the first four holes (2,969 m) were reported on November 2, 2011 and additional results will be reported as they become available.

Highlights of the 43-101 Resource are as follows:

TABLE 1: RESOURCE HIGHLIGHTS

*Copper equivalent calculation uses $1,100/Oz Au, $3.00/lb Cu and $20.00/Oz Ag and is not adjusted for metallurgical recoveries as these remain uncertain. The formula to calculate Cu equivalent is Cu Eq = (Cu x 1) + (Au x 0.5437) + (Ag x 0.0097).

This initial 43-101 resource estimate was prepared by Wardrop Engineering Inc. (a Tetra Tech Company based in Toronto, Ontario), an industry leading international engineering firm, utilizing standard industry software (Datamine). The resource was calculated using a 0.4% Cu equivalent cut-off and is based on a total of 78 drill holes (33,015.47 m) and 11,294 metres of surface trenches and includes all drilling on the project through to the end of 2008. For further explanation of the metallurgical characteristics of the Rio Grande project, please see the companion press release of December 6, 2011 at www.pachamamaresources.com.

The following tables outline the resource at variable cut-off grades:


TABLE 2: INDICATED RESOURCE

TABLE 3: INFERRED RESOURCE

*Copper equivalent calculation uses $1,100/Oz Au, $3.00/lb Cu and $20.00/Oz Ag and is not adjusted for metallurgical recoveries as these remain uncertain. The formula to calculate Cu equivalent is: Cu Eq = (Cu x 1) + (Au x 0.5437) + (Ag x 0.0097).

The following tables outline the indicated and inferred resource separated into oxide, transitional and sulphide mineral zones.

TABLE 4: INDICATED RESOURCE - OXIDE

TABLE 5: INFERRED RESOURCE - OXIDE

TABLE 6: INDICATED RESOURCE - TRANSITIONAL

TABLE 7: INFERRED RESOURCE - TRANSITIONAL

TABLE 8: INDICATED RESOURCE - SULPHIDE

TABLE 9: INFERRED RESOURCE - SULPHIDE

An updated NI 43-101 Technical Report on the Rio Grande project will be available within 45 days on SEDAR at www.sedar.com. Mineral resources do not have demonstrated economic viability and future in-fill drilling and scoping, pre-feasibility, and feasibility studies will determine what percentage of the inferred, indicated, and measured resources can be placed into the mineable category. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issues which may materially affect this estimate of mineral resources.

Qualified Persons and QAQC

The mineral resource estimate presented here was completed by or under the direction of Robert Morrison, B.Sc, Ph.D., MAusIMM (CP), P.Geo., Lead Resource Geologist, assisted by Callum Grant, P.Eng., Senior Consultant, for the purposes of site visit and check assaying. Both are Independent Qualified Persons as set forth by NI 43-101. Mr. Morrison has reviewed and approved the contents of this news release as they relate to the mineral resource estimate.

This news release has been reviewed by John M. Leask, P.Eng., President and CEO of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

On behalf of the Board of Directors,

"John M. Leask"

John M. Leask, P.Eng.
President & CEO

For more information please contact us at (604) 681-4462 or see the Company's website at
www.pachamamaresources.com