Oremex Resources Inc.

Oremex Resources Inc.

October 15, 2010 16:30 ET

Oremex Provides Clarification Regarding Projects Surrounding El Sol

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2010) - Oremex Resources Inc. (TSX VENTURE:ORM) Oremex Resources wishes to clarify its press release dated October 14, 2010 relating to its wholly-owned El Sol silver project. The Cerro Las Minitas project adjacent to El Sol remains owned by Silver Dragon Resources. Silver Dragon has not entered into any agreement to sell its interest in the project.

El Sol is also in very close proximity and near-adjacent to the Cerro Las Minitas project for which Southern Silver Exploration Corp. has entered into an agreement to acquire. Information relating to Southern Silver's agreement to acquire the Cerro Las Minitas project can be found at http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007638.

Oremex regrets any confusion that may have been caused inadvertently.

About Oremex:

Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's Tejamen project has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden Mining Industry Consultants completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation.

National Instrument 43-101 requires the following statement: that the preliminary assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.

Forward-Looking Statements: The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

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.

Contact Information

  • Oremex Resources Inc.
    Michael Smith
    President & CEO
    (416) 309-4320