Orex Minerals Inc.
TSX VENTURE : REX

Orex Minerals Inc.

January 15, 2014 08:00 ET

Orex Commences 2014 Field Operations in Sinaloa State, Mexico; Previously Unanalyzed Drill Core at Los Crestones Returns New Mineralized Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 15, 2014) - Orex Minerals Inc. - (TSX VENTURE:REX) ("Orex"), is pleased to announce that it has compiled all available historical data from the Los Crestones Project 100km north of the Sinaloa state capital, Culiacán, Mexico. Work included analysis of previously sampled but not assayed intervals from diamond drilling by the previous owner. Work has now begun on the 2014 exploration programme which is planned to include surface mapping, sampling and trenching and air/ground geophysics in preparation for a campaign of diamond drilling. Community negotiations are continuing and expected to run in parallel with the exploration work.

Los Crestones Project

The Project was acquired in 2013 by merger with junior explorer Astral Mining Corporation. Astral optioned the property in early 2011 and had completed a 12 month exploration programme culminating in an 18 hole, 2,618m diamond drilling program late in that year. Reported results from the first pass drilling, returned a best intercept of 5m averaging 39.1 g/t Au, 93.3 g/t Ag and 2.13% Cu from 55m depth in HQ drillhole 11LD011. True width of this interval from the Bohemia structure is approximately 3.53m. The project has been maintained but not worked since Astral's drilling programme. During 2013 Orex was active in the area, reinforcing positive relations with local communities and is confident of strong community support in the resumption of work.

The Los Crestones project totals 4,168 hectares and is prospective for economic gold, silver and copper mineralization. The present interpretation of mineralization is that of north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill. Three main structural zones were targeted in the first phases of work. Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or "crestons". In addition several other sub-parallel structures are known on the property and will be further investigated in the coming months. Maximum length on the individual structures to date is 900m. Current geological maps are available at Orex's website here.

Los Crestones is located within the highly prospective Gold-Silver Trend of the Sierra Madre Occidental, Western Mexico. Orex recognizes the favourable structural setting of known showings. During 2014 Orex plans to significantly enhance geological and structural understanding before drilling commences.

2014 Exploration Programme

The updated project database includes previously unreported drilling results. During 2013, Orex commissioned the analysis of drill core samples previously submitted to ALS Chemex but cancelled due to lack of available funds.

Results from this work reveal new significant intercepts from Astral's drilling with a best result of 0.45m grading 45.8 g/t Au, 87 g/t Ag and 2.41% Cu from 32.8m depth in hole 11LD014 (estimated true width 0.35m). This interval upgrades the significance of the hole which was previously reported with a best value of 1m grading 2.65 g/t Au, 1.7g/t Ag and 0.05% Cu from 60m (estimated true width 0.77m). In addition, 1.5m grading 5.79 g/t Au, 3 g/t Ag and 0.01% Cu from 36m depth in the hole 11LD011 was also returned (estimated true width 1.06m), further enhancing the best hole of the original drilling programme. A full breakdown of updated assay results from the 2011 diamond drilling program is supplied on Orex's website here.

According to Orex's President, Gary Cope, "Los Crestones is a prime example of an underexplored, early-stage project located on a highly prospective and proven mineral trend. The project had seen no modern exploration before Astral, and Orex is very excited to have the chance to make a significant discovery here."

Full details of previous sampling and a drilling location map have been prepared for the Orex website, www.orexminerals.com.

Dale Brittliffe, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release. Mr. Brittliffe oversaw the QA/QC protocols on behalf of Astral Mining during the diamond drilling program in 2011 which included the systematic insertion of analytical standards, blanks and duplicates. Analyses were performed by ALS Chemex. The updated drill data are in agreement with the general tenor of mineralization originally sampled from surface on the main mineralized structures outcropping at Los Crestones.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: its flagship property, the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Persistence Gold-Copper Project and Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo PLC.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope, President

FORWARD-LOOKING INFORATION

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.

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.

HOLEID Target From (m) To (m) Core Length (m) True Width (m) Au (g/t) Ag (g/t) Cu (%) Au Eq (g/t) Ag Eq (g/t)
11LD001 Corona 64.25 65.1 0.85 0.77 0.26 1 0.01 0.28 17
and Corona 71.1 72.1 1 0.91 1.31 1 0.01 1.32 79
11LD002 Corona no significant intercepts
11LD003 Indio 9.15 24.16 15.01 13.6 0.35 8 0.44 0.48 29
Incl 12.3 17.7 5.4 4.89 0.6 2 0.13 0.64 38
Incl 23.11 24.16 1.05 0.95 0.15 34 2.43 0.72 43
And Indio 26.16 27.16 1 0.91 0.63 3 0.04 0.68 41
And Bohemia 109.6 110.58 0.98 0.89 0.39 59 0.1 1.37 82
And Bohemia 115.25 116 0.75 0.68 0.53 7 0.06 0.64 39
11LD004 Indio 6.1 15.25 9.15 7.01 0.11 8 0.45 0.24 14
Incl 6.1 6.85 0.75 0.57 0.55 49 0.61 1.37 82
And Indio 18 24.4 6.4 4.9 0.53 16 0.77 0.8 48
Incl 18 22.12 4.12 3.16 0.82 16 0.81 1.09 66
Incl 21.35 24.4 3.05 2.34 0.13 28 1.16 0.59 36
Incl 21.35 22.27 0.92 0.7 0.39 64 2.65 1.45 87
And Indio 25.8 26.06 0.26 0.2 0.07 120 3.19 2.07 124
11LD005 Indio 9.15 14.4 5.25 4.72 1.06 2 0.14 1.1 66
Incl 13.15 14.4 1.25 1.12 2.7 3 0.22 2.75 165
11LD006 Indio 138.15 141.24 3.09 1.3 0.14 479 3.5 8.12 487
incl 138.15 139.24 1.09 0.46 0.24 1230 8.91 20.74 1244
11LD007 Indio 126.65 127.05 0.4 0.17 0.03 50 0.09 0.87 52
11LD007 Indio 134.07 135.67 1.6 0.68 0.03 59 0.89 1.01 61
11LD008** Indio 54.48 56.48 2 1.82 1.22 1 0.01 1.24 75
11LD008 Indio 57.42 58 0.58 0.53 0.53 94 2.75 2.1 126
11LD008 Indio 62 63 1 0.91 1.71 1 0.06 1.73 104
11LD008 Indio 64 65 1 0.91 2.93 2 0.08 2.96 178
11LD008 Indio 71.06 71.41 0.35 0.32 0.03 51 1.67 0.87 52
11LD008 Indio 73.05 75.54 2.49 2.26 20.4 22 0.82 20.77 1,246
incl 73.05 74.05 1 0.91 49.9 33 1.35 50.45 3,027
11LD009** Bohemia 1.25 3.05 1.8 1.64 0.76 5 0.28 0.85 51
11LD009 Bohemia 20.2 20.9 0.7 0.63 0.56 12 0.43 0.76 45
11LD010 Bohemia 50 54 4 3.43 9.13 42 0.55 9.83 590
incl 50 51 1 0.86 30 150 1.06 32.5 1,950
11LD010 Bohemia 56 61 5 4.29 1.32 4 0.22 1.39 83
11LD011** Bohemia 36 37.5 1.5 1.06 5.79 3 0.01 5.84 350
11LD011* Bohemia 39 43 4.00* 2.83* 30 259 3.06 34.32 2,059
Incl* 39.85 40.25 0.40* 0.28* 22.8 347 5.28 28.58 1,715
Incl* 41 42 1.00* 0.71* 93.4 657 6.33 104.35 6,261
11LD011 Bohemia 46.3 47 0.7 0.49 41.6 256 5.24 45.87 2,752
11LD011 Bohemia 55 60 5 3.53 39.1 93 2.13 40.66 2,439
incl 55 56 1 0.71 13.2 88 2.77 14.67 880
incl 58 59 1 0.71 13.85 61 3.06 14.87 892
incl 59 60 1 0.71 162.5 270 3.02 167 10,020
11LD012 Bohemia 57 60.6 3.6 2.06 2.41 30 0.02 2.91 175
incl 57 58 1 0.57 4.47 34 0.19 5.03 302
11LD013 Bohemia rods stuck - hole abandoned at 32m
11LD014** Bohemia 32.8 33.25 0.45 0.35 45.8 87 2.41 47.25 2,835
11LD014 Bohemia 60 61 1 0.77 2.65 2 0.05 2.68 161
11LD015 Bohemia 72.58 73.51 0.93 0.53 1.26 37 2.01 1.87 112
incl 72.58 73.1 0.52 0.3 0.32 64 3.57 1.39 83
incl 73.1 73.51 0.41 0.24 2.46 2 0.03 2.49 149
11LD016 Indio 19.65 21.6 1.95 1.49 0.07 104 0.75 1.8 108
Incl 19.65 20.6 0.95 0.73 0.06 170 0.88 2.89 174
Incl 20.6 21.6 1 0.77 0.08 32 0.57 0.62 37
11LD017 Indio 22.7 23.55 0.85 0.65 0.76 34 1.15 1.33 80
11LD018 Indio 30 30.6 0.6 0.46 0.27 22 0.7 0.64 38
* interval strongly fractured, up to 0.65m of core lost between the 39m and 43m downhole
** Previously unreported results from analysis of un-assayed 2011 diamond drilling sampling

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