Orex Minerals Inc.
TSX VENTURE : REX

Orex Minerals Inc.

November 17, 2009 09:01 ET

Orex's Coneto Project Yields High Gold and Silver Values

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2009) – Orex Minerals Inc. (TSX VENTURE:REX) is pleased to present an interim reporting on the geological program at the Coneto silver-gold mining camp in Durango State, Mexico.

In order to better define drilling targets, the southeastern region of the property has undergone extensive surface examination. This testing clearly illustrates strong parallel mineralized structures for gold and silver, as well as for pathfinder elements.

As of the end of October, regional geology mapping at 1:10,000 scale covers 23 km2 and detailed structural geology mapping at 1:500 scale covers 10 km2. Thirty-three line-kilometres of geochemical sampling, both for soil and rock channel/chip/grab, total 842 samples. Some of the highlights of rock channel sampling are presented in the table below.

Promontorio and Impulsora sectors yielded multiple anomalous values for gold and silver. High among these are the Promontorio channel sample #4154, which yielded true width 1.0 m grading gold 5.97 g/t and silver 272.0 g/t for a silver-equivalent of 630.2 g/t and #351 which yielded 1.5 m grading gold 3.01 g/t and silver 289.0 g/t for a silver-equivalent of 469.6 g/t. Impulsora #4586 yielded 1.2 m grading gold 4.12 g/t and silver 278.0 g/t for a silver-equivalent of 525.2 g/t.

Gary Cope, President of Orex, says; "We are very pleased with the surface results to date for gold and silver. Progress is being made in understanding this large mining camp and we look forward to an active drilling program."

Geological mapping and sampling is continuing to the northwest. Due to timing of permits and the general slowdown associated with the Christmas season in Mexico, the Phase-I drilling campaign is now planned to start early in the new year.

Rock sampling highlights

SectorSampleRockSampleTrueAuAgAgEq
 NumberTypeTypeWidth (m)(g/t)(g/t)(g/t)
        
Promontorio351STWKChannel1.53.01289.0469.6
Isla Sur354VEINChannel2.01.8664.0175.6
Isla Sur355BRXXChannel0.80.4383.0108.8
Isla Sur361VEINChannel2.00.8572.0122.8
Isla Sur362VEINChannel2.00.9049.0102.8
Promontorio4154VEINChannel1.05.97272.0630.2
Promontorio4164BRXXChannel1.52.456.0153.0
Promontorio4165VEINChannel1.51.286.082.8
Promontorio4166BRXXChannel1.52.31102.0240.6
Promontorio4195VEINChannel1.41.92106.0221.2
Promontorio4196VNSTChannel2.81.6353.0150.8
Promontorio4197VNSTChannel1.84.8911.0304.4
Impulsora4204STWKChannel1.32.1112.0138.6
Impulsora4213VNBXChannel0.75.0376.0377.8
Promontorio4245STWKChannel2.51.2612.087.6
Promontorio4248STWKChannel2.31.1213.080.2
Impulsora4276ANVTChannel2.01.125.072.2
Promontorio4283BRXXChannel1.70.23101.0115.0
Promontorio4321BRXXChannel1.60.3783.0105.3
Promontorio4329STWKChannel2.03.338.0207.8
Promontorio4331STWKChannel2.02.1015.0141.0
Promontorio4338STWKChannel2.02.651.5160.5
Unnamed4365ANVTChannel0.51.1322.089.8
Unnamed4371VEINChannel1.50.9947.0106.5
Unnamed4406ANVTChips1.51.96180.0297.6
Promontorio4420BRXXChannel1.00.88144.0196.7
Promontorio4422ANVTChannel1.21.52237.0328.2
Impulsora4430VEINChannel1.01.34129.0209.4
Impulsora4433ANVTChannel2.01.3418.098.4
Impulsora4455VEINChannel1.01.22173.0246.2
Impulsora4456ANVTChannel2.02.7196.0258.6
Promontorio4462STWKChips1.01.1327.094.8
Promontorio4463ANVTChips1.01.955.0122.0
Impulsora4530BRXXChannel1.71.0226.087.2
Impulsora4531BRXXChannel1.01.8492.0202.4
Impulsora4532BRXXChannel1.11.2046.0118.0
Colemanito4568VEINChannel1.00.68127.0168.0
Impulsora4576BRXXChannel1.01.84211.0321.4
Impulsora4577ANVTChannel1.01.96168.0285.6
Impulsora4586BRXXChannel1.24.12278.0525.2
Impulsora4588BRXXChannel1.01.6877.0177.8
Impulsora4589ANVTChannel2.01.2555.0130.0
Colemanito4606VEINChannel1.02.1035.0161.0
Descubridora4621ANVTChannel1.30.7697.0142.7
Colemanito4633ANVTChannel0.50.14107.0115.1
Colemanito4635VEINChannel1.20.13134.0141.6
Colemanito4637BRXXChannel1.83.1713.0203.2
Impulsora4644BRXXChannel1.52.16109.0238.6
Calaveras4800ANVTChannel0.60.1799.0109.3
Pobre4826VEINGrabn/a1.16436.0505.6
Pobre4827ANVTChannel1.10.21288.0300.4
Unnamed4832ANVTChips1.81.0543.0106.0

Maps of the geochemical program can be found on the Orex website at the following address: www.orexminerals.com

This interim report covers 118 B-horizon soil, 374 rock channel, 349 rock chip and 1 rock grab totaling 842 samples, ranging from trace to 5.97 g/t for gold and trace to 436 g/t for silver. SGS Mineral Services, a certified commercial laboratory in Durango, Mexico, performed the analytical testing by fire assay with atomic absorption finish, and multi-element inductively coupled plasma analyses. A QA/QC program is in place for sample collection through to laboratory analysis. Host rock is primarily andesite of the Triassic Lower Volcanic Group. Sample rock type abbreviations used in this news release are ANVT andesite with quartz veinlets, BRXX breccia, STWK stockwork, VEIN quartz vein, VNBX vein breccias and VNST vein stockwork.

Located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains, Coneto is centrally positioned in the "Mexican Silver Trend". This silver trend, stretching from Guanajuato in the southeast, through the states of Zacatecas and Durango, hosts some of the World's largest silver deposits, including the Real de Angeles, Zacatecas, Fresnillo, La Preciosa, and La Pitarrilla mining camps.

Over 30 epithermal silver-gold vein structures have been identified at Coneto. The initial Orex program consists of detailed structural geology mapping and geochemical sampling in the areas around Calaveras, Colemanito, Promontorio, Loma Verde, Durazno and Impulsora. This program is designed to guide a diamond drilling program.

Ben Whiting, P.Geo., is the Qualified Person and takes responsibility for the technical disclosure in this news release.

Silver-equivalent for the purposes of this news release is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter returns are assumed to be 100% for the silver-equivalent value. Base metal values are not included in the silver-equivalent value.

About Orex Minerals Inc.

Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope, President

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orex relies upon litigation protection for forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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