Oremex Resources Inc.

Oremex Resources Inc.

August 19, 2009 08:30 ET

Oremex Provides Update on Tejamen Infrastructure Program

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2009) - Oremex Resources (TSX VENTURE:ORM) is pleased to provide an update on the infrastructure and community works program initiated within the Community of Tejamen. The program has been successfully implemented with several projects completed. The community has responded positively to both the employment opportunities and the resulting improvements that have been carried out. The program is funding and creating employment for local residents to carry out refurbishment, beautification, and infrastructure repairs within the community.

To date over sixty individuals have been employed on a rotating basis completing work being funded by Oremex. During any given week, fourteen to seventeen people are employed with work administered by the Tejamen Municipality President. Materials are provided and purchased by the company. The work to date has consisted of cleaning and removing trash from the immediate area of dwellings, schools, roads, and Tejamen Creek. Trash has been removed and deposited in a local landfill.

Additionally, fence repair work has been completed at the boundary between the Ejido and a private ranch. Road and bridge repairs are about to commence with materials supplied by the Municipality of Nuevo Ideal.

Chief Executive Officer Michael R. Smith stated: "The targeted infrastructure program within the community is being carried out as planned, with more extensive projects due to commence. In addition to the economic benefits, the program is generating goodwill and strengthening the company's relationship with the community. Through this positive working relationship that has been expanding, we continue to move closer toward the objective of furthering development on the Tejamen silver deposit."

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 principal properties are the Tejamen and San Lucas properties located in the State of Durango and the Cuyoaco Property in the State of Puebla. The Company's most advanced project Tejamen 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. The Company undertakes no obligation to update forward-looking statements should conditions or opinions change.

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

Contact Information

  • Oremex Resources
    John Carlesso
    Executive Chairman