Orex Exploration Inc.

Orex Exploration Inc.

September 08, 2005 13:51 ET

Orex Finances the Goldboro Project

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Sept. 8, 2005) - OREX EXPLORATION INC. (TSX VENTURE:OX)("Orex") is pleased to announce that two private investors have agreed to invest $US 26,944,066 in consideration of 67,360,165 common shares of Orex at a price of $US 0.40 per share, subject to a 60 day due diligence period. The proceeds will be used by Orex for it's working capital and for exploration leading to, and eventually including, a feasibility study on the Goldboro Property, in Nova Scotia. Furthermore, the private investors have agreed to take the necessary steps in order to finance any future mining development on the Goldboro Property.

This private placement is conditional to the obtention by Orex of the regulatory authorities approvals.

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

Contact Information

  • Orex Exploration Inc.
    Jacques Levesque
    (819) 797-4354
    (819)797-4354 (FAX)