NAMEX EXPLORATIONS INC.
TSX VENTURE : NME

NAMEX EXPLORATIONS INC.

November 15, 2006 08:30 ET

Namex Options New Gold Property in the Swayze Gold Belt of Ontario

MONTREAL, QUEBEC--(CCNMatthews - Nov. 15, 2006) - Namex Explorations Inc. (TSX VENTURE:NME) -

Namex's recently optioned property in the Swayze Gold Belt is comprised of 4 unpatented mining claims totally 1,560 acres (624 hectares) in Huffman and Potier Townships.

Grab samples from three recent trenches, each 50 metres apart, returned some very significant assays (see table 1). The zone has a confirmed strike length of 150 metres and is open along strike in both directions. The zone appears to be a shear or fault zone with quartz veining. Several mineralized bands were observed in each trench, each up to approximately 1 foot (30cm) in width.



Table 1 Grab sample assays (partial results)

Cu Pb Zn Sb
Au Ag (ICA50/ (ICA50/ (ICA50/ (ICA50/
SAMPLE (FA/313) (AA/S40E) ICP12B) ICP12B) ICP12B) ICP12B)
UNITS g/t(i)/ppb G/T %/ppm %/ppm %/ppm %/ppm
751 26.8g 520(ii) 2.19% 4.44% 8440ppm 1.43%
752 242 ppb 9.8 400ppm 3060ppm 156ppm 52ppm
753 23.1g 510(ii) 2.71% 727ppm 5200ppm 1.85%
754 36.4g 1000(ii) 7.33% 3.1% 2.3% 4.31%
755 31.2g 880(ii) 5.98% 683ppm 1.13% 3.83%
756 28.9g 168 6070ppm 417ppm 697ppm 2890ppm
757 3710 ppb 79.7 5280ppm 392ppm 496ppm 3010ppm
758 25.7g 650(ii) 6860ppm 12.6% 1.12% 3390ppm
759 54.2g 1620(ii) 8.63% 272ppm 1.49% 5.94%
760 5460 ppb 162 8330ppm 841ppm 1370ppm 5390ppm
761 9260 ppb 81.6 3110ppm 498ppm 522ppm 2160ppm
762 423 ppb 8.8 417ppm 401ppm 317ppm 166ppm
763 726 ppb 15.4 954ppm 1060ppm 192ppm 401ppm
764 1880 ppb 133 0.97% 1030ppm 1860ppm 5740ppm
765 344 ppb 4.7 89ppm 395ppm 73ppm 51ppm
766 76 ppb 1.3 86ppm 34ppm 24ppm 25ppm
767 263 ppb 1.8 235ppm 35ppm 43ppm 10ppm

(i) assays confirmed as g/t using FAG 303
(ii) assays greater than 300 g/t using AAA50


The mineralization is an admixture of several types of sulphides, including pyrite, galena, sphalerite, chalcopyrite, argentite, tetrahedrite, molybdenite and possibly pyrargyrite. In addition considerable malachite and azurite staining was noted. The mineralization occurs in association with a felsic porphyry.

Sampling in the field was under the supervision of Oliver T. Maki, P. Geo., who also is the qualified person responsible for the technical content of this news release. Grab samples were chosen to represent the various types of mineralization observed. Samples were sealed in plastic bags and shipped directly to SGS Laboratories in Toronto, an ISO registered laboratory. Sample analyses techniques codes are stated in table 1, for details please go to www.sgs.ca/geochemistry.

Namex crews have also just completed a reconnaissance Mobil Metal Ions ("MMI") geochemical survey on the property. Survey results are expected by year end.

Namex is a Canadian junior that actively explores for platinum group metals, nickel, copper, gold, silver, zinc and lead exclusively in North America. For further information, see Namex's due diligence site: www.namex-explorations.com

This release was prepared by the Company's management who take full responsibility for its contents. Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. The company disclaims any obligation to update forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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