MMX Discloses Preliminary Technical Report of AVG's Mineral Resources

RIO DE JANEIRO, BRAZIL -- (MARKET WIRE) -- 02/27/08 -- MMX Mineracao e Metalicos S.A. (BOVESPA: MMXM3) (TSX: XMM) ("MMX" or the "Company") hereby informs its shareholders and investors that the preliminary Technical Report of AVG Mineracao S.A.'s ("AVG") mineral resources has been concluded, in accordance to the rules of the Toronto Stock Exchange and of the Canadian exchange commissions.

The resource estimate presented in the Report was based on the preliminary data collected on the drilling campaign that initiated in 2007, as part of the due diligence process for AVG's acquisition.

MMX will continue its drilling campaign in 2008 in conformity to SRK Consulting's recommendation, as presented below:

Grid pattern number of area number of (m) holes (m) samples --------- --------- --------- --------- 2007 (AVG) irregular 11 440.45 78 --------- --------- --------- --------- 2007 (MMX) 200 x 200 26 1,665.55 233 --------- --------- --------- --------- Total 37 2,106.00 311

--------- --------- --------- --------- 2008 (planned) 100 x 100 70 5,000.00 1,000 --------- --------- --------- ---------

MMX plans on releasing an updated and more detailed Report by the end of 2008.

The audit of the resources and reserves was carried out according to the standards set by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Standards) and by the National Instrument 43-101 of the Canadian Securities Administrators (NI 43-101).

SRK Consulting, a company specialized in geology, mining and mineral resources determination, was responsible for the audit. The Qualified Person who has reviewed this Press Release is Leah Mach CPG, MSc.

The Report is available on the Company's Investor Relations website at www.mmx.com.br/ir

Rio de Janeiro, February 27, 2008

MMX Mineracao e Metalicos S.A.

Luiz Rodolfo Landim Machado Executive President and Investor Relations Officer

MMX - Investor Relations Elizabeth Cruz / Gina Pinto Tel. 55 21 2555-5634 / 2555-5558 ri@mmx.com.br www.mmx.com.br/ri

2008-02-27 18:16:02 0300129 MARKETWIRE