Dorex Minerals Inc.
TSX VENTURE : DOX

Dorex Minerals Inc.

June 24, 2008 18:36 ET

Dorex Intersects 92.6 Meters of 5.2% Iron Mineralization and 1.9 Meters of 1.4 % Copper, 0.42 g/t Gold, 3.3 g/t Silver on Its Carmelita IOCG Project, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Dorex Minerals Inc. (TSX VENTURE:DOX) -

The company is pleased to report analytical results from the remaining of the seven widely spaced (11 sq km) diamond drill core holes (DDH) from its 100% owned Carmelita property. The property is located within the Chilean "Iron Belt" at the south end of the Atacama Desert, Chile.

Peter Walton President & CEO states "The Company is encouraged by the intersection of calcite veins with silver in the holes which suggests that the holes could be drilled into the upper part of a large classic Iron Oxide Copper Gold (IOCG) style mineralization."

Highlights are as follows.

CA-02: Hydrothermal and Propylitic altered (epidote) volcanics that are intermittently recrystalized from the surface to the end of the hole to a depth of 182.9 meters. This hole intersected magnetite (Fe2 O4), both disseminated, in bands and quartz veins, from 18.5 meters to 182.6 meters for a total length of 174.1 meters. The interval from 89.7 to 182.3 meters had a weighted average of 5.2% iron. A notable 1.9 meters quartz vein with copper sulphides and magnetite at 167.3 meters had a weighted average of 1.4% copper, 0.42 g/t gold and 3.3 g/t silver.

CA-03: The hole was drilled 2.4 kilometers to the northeast of CA-02 and intersected Propylitic altered (epidote) and silicified (chalcedony) volcanics that are intermittently recrystalized from the surface to the end of the hole to a depth of 93.3 meters. The hole intersected hematite in bands with quartz plus or minus calcite vein, as well as quartz veins with copper oxide (malachite). Below 80 meters the volcanics contain fine disseminated sulphides. The interval from 21.6 to 64.8 meters had a weighted average of 4.5% iron. A notable 2.3 meters quartz vein with oxide copper mineralization at 60.5 meters had a weighted average of 0.4% copper, 0.05 g/t gold and 29.3 g/t silver.

CA-04: Drilled to a depth of 150 meters; The hole was drilled 1.5 km to the northeast of the CA-03 and intersected Propylitic altered volcanics (epidote and chlorite) from 100.9 to 130.6 meters with a weighted average of 5.4% iron. Higher grade copper mineralization was intersected from 104.9 to 111.5 meters for a total of 6.6 meters with weighted average of 0.42% copper.

CA-06: The hole was drilled in the southeastern part of the 11 square kilometer area tested during this drilling. It intersected Hydrothermally and Propylitic altered (epidote) volcanics with local silicification (chalcedony) and recrystalization from the collar to the end of hole totaling 199.9 meters. It has intermittent disseminated magnetite (Fe2 O4) with grades up to 5.5% iron, and copper oxides with anomalous copper values.

CA-07: The hole was drilled 0.5 km to the southeast of CA-06 and intersected Hydrothermally and Propylitic altered (epidote) volcanics with local Potassic metasomatism (adularia) and recrystalization from the collar to the end of hole totaling 140.0 meters. The interval from 100 to 140 meters had a weighted average of 4.0% iron.

A summary of sample preparation, QA/QC and method of analysis is described in the Company's June 16, 2008 news release.

SUMMARY:

The 7 diamond drill holes intersected IOCG style alteration and mineralization with up to 18.9% iron and 0.7% copper over 6.8 meters.

FUTURE PLANS:

Dorex Minerals will be commissioning Guarachi Ingenieros of Santiago, a reputable Chilean consulting Engineering group, to perform bench scale testing on core sample splits for concentration and extraction of magnetite by magnetic-gravity and magnetic-pneumatic floatation to establish an approximate grade for a high grade iron concentrate.

The Company is planning to investigate the economic parameters to determine the preliminary economic assessment of commercial extraction of magnetite. The Company estimates that both studies can be completed in the 3rd Quarter of 2008.

A follow up drilling program will be designed from the conclusion and recommendations of the bench testing and preliminary economic assessment studies.

ABOUT CARMELITA PROPERTY:

The Carmelita Iron Oxide (magnetite) project located in the "Iron Belt" of Chile, a segment of the Atacama Fault System within the Chilean coastal belt.

The Chilean Iron Belt is host to significant copper and iron mines over a 350 kilometers length. The Candelaria and Manto Verde copper mines which produce high grade iron ore concentrate as bi-products by processing the copper concentrate tailings through low cost technology are located in the northern end of the belt. Farther to the south and closer to the Carmelita project there are significant iron producers like El Tofo, El Pelito and El Romeral.

All these deposits are classified as IOCG deposits. More recent IOCG discoveries include Cerro Negro.

Dorex Minerals recently completed diamond drill program (7 holes for 1,050 meters) tested high magnetic anomalies, areas with copper-gold mineralization and areas with abundant iron oxides, mainly magnetite.

The Carmelita project has good infrastructure situated next to the national railway, adjacent to the national electrical grid and with access to water.

The railway connects the property to the port of Coquimbo 85 kilometers to the south where Compania Acereo del Pacifico ship iron ore from their 44,000 tonnes per day El Romeral mine near La Serena. To feed its pelletizing plant in Huachipato, Compania Acereo del Pacifico is buying iron ore from adjacent mines like El Tofo.

The information contained in this news release has been reviewed and approved by Tor Bruland, P. Geo., a qualified person under the definitions established by the National Instrument 43-101.

For further information please visit the company's website www.dorex.ca.

For further updates please send in your email address to info@dorex.com or call 604-633-9992. We will send out regular updates and news releases to everyone who requests them.

About Dorex Minerals Inc:

Dorex Minerals Inc. is a base and precious metals exploration and development company focusing on its 100% interest Carmelita property located within the prolific mining region of Coastal Belt of the Andean Cordillera of Chile.

ON BEHALF OF THE BOARD OF DIRECTORS OF DOREX MINERALS INC.

Peter Walton, President / CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Dorex Minerals Inc.
    Peter Walton
    President / CEO
    (604) 688-1160
    or
    Dorex Minerals Inc.
    David Joseph
    Consultant / Corporate Development
    (604) 633-9992
    Email: info@dorex.ca
    Website: www.dorex.ca