Oremex Resources Inc.

Oremex Resources Inc.

April 29, 2009 08:30 ET

Oremex Regains Access to Tejamen

TORONTO, ONTARIO--(Marketwire - April 29, 2009) - Oremex Resources (TSX VENTURE:ORM) is extremely pleased to announce that the Company has received formal invitation from the Community of Tejamen, with the support of the Municipality of Nuevo Ideal, to restart its working relationship with the Community.

As a starting point for broader development work at Tejamen, the Company is commencing a strategic community works program within the local village. The program will fund and create employment opportunities for local residents to carry out refurbishment, beautification, and infrastructure repairs within the community. Following an initial review, as a good faith effort toward assisting the Community of Tejamen, these projects will be prioritized and initiated as soon as practicably possible.

Oremex Executive Chairman John Carlesso commented: "Since the introduction of the new team and strategy in January, our efforts at having direct interaction with both the community at-large and its leaders have established improved levels of dialogue, understanding, and trust between the Company and the community. These principles are fundamental to the long-term success of a project of this nature and we are committed to continuously supporting the development and growth of this most important relationship."

"Regaining access to the community is a very significant achievement within a relatively short period of time and reflects the focus and dedication brought by our entire team to resolving this critical, longstanding issue. We can now begin the long-overdue development process at Tejamen that we expect will bring meaningful economic and social benefits to the local area" Carlesso added.

Chief Executive Officer Michael Smith stated: "The community is eager for Oremex to commence work and this is an excellent starting point to initiate a broader scope of programs. While we continue to strengthen and improve the relationship with the people of Tejamen we anticipate outlining more specific details of a mining development program at the Tejamen silver project very shortly."

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