Orex Exploration Inc.
TSX VENTURE : OX

Orex Exploration Inc.

March 10, 2008 16:00 ET

Orex: Final Closing of $907,500 Equity Private Placement

MONTREAL, CANADA--(Marketwire - March 10, 2008) - OREX EXPLORATION INC. (TSX VENTURE:OX) is pleased to announce that the Company has closed today a second tranche of non-flow-through financing for an amount of C$ 517,500.

With the first tranche closed on February 11, 2008, the total gross proceeds of the financing amounts to C$ 907,500, representing 9,070,500 units at a price of $0.10 per unit. Each unit consists of one common share plus one-half common share purchase warrant, with each whole warrant being exercisable at C$ 0.15 for 12 months from each closing. All of the securities to be issued pursuant to this private placement will have a hold period of four (4) months following each closing.

Approximately 43 % of the private placement was subscribed by insiders, representing a total of $ 390,000. Proceeds from this financing will be used for working capital purposes. Finder's fees of 10 % cash will be paid to some intermediaries on a portion of this financing.

The private placement is subject to the final approval of the TSX Venture Exchange.

About Orex Exploration Inc

Orex Exploration Inc. is a Canadian based junior resource and exploration company trading under the symbol OX on the TSX Venture Exchange. The Company holds a 100% interest in the Goldboro Gold Project in Nova Scotia. Goldboro hosts a National Instrument 43-101 compliant Mineral Resources of 13.09 million tonnes @ 1.15 g/t gold in the Measured and Indicated categories, and additional Inferred Resources of 15.6 million tonnes @ 0.63 g/t gold (refer to the technical report dated September 28, 2006, posted on SEDAR at www.sedar.com).

A comparative analysis of metallurgical test results done in 2006 and historical assay results demonstrated that historical resources estimates at Goldboro using conventional drill assays would significantly underestimate the recoverable gold content and therefore understate Mineral Resources. This grade loss was demonstrated by comparing the more realistic gold grade determine by 2006 Metallurgical Model when compared to the 187 historic drill hole in the Assay Model, and is attributable to the nugget effect brought on by conventional assaying of smaller size individual drill core samples in the Assay Model. The 2006 Metallurgical Model grade showed an increase of approximately twice that of the Assay Model grade. The Company has developed a sampling and assaying protocol to counter the nugget effect, giving more realistic gold grades of the mineralization. The objective of the Phase 2 exploration program would focus on defining higher quality Mineral Resources.

The Orex team is confident in achieving the goals to define the maximum and highest quality Mineral Resources within the next two years. The information contained in this news release has been reviewed and approved by Mr. Jean Lafleur, M. Sc., Geol., Chairman and Technical Advisor at Orex, a Qualified Person under National Instrument 43-101 regulations.

You are invited to browse the Company's website at www.orexexploration.ca.

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

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