Orex Exploration Inc.

Orex Exploration Inc.

July 20, 2005 08:00 ET

Orex Intersects More Significant Gold from Phase 1 Drilling at Goldboro


Highlights - 8.25 G/T Au Over 3 Metres, 4.92 G/T Au Over 6.9 Metres and 6.04 G/T Au Over 4.1 Metres

OREX EXPLORATION INC. (TSX VENTURE:OX) has received a second batch of fire-assay results from the Company's recently completed 23 hole / 2,436 metres Phase 1 diamond drill campaign at its 100% owned Goldboro Property, Nova Scotia. Results are from conventional fire-assay analysis of holes BR05-09, 10 and 11 from section 8700E, and BR05-14, 15 and 16 from section 8725E received from ALS-Chemex Laboratories in Val-d'Or, Quebec in the historical Boston-Richardson mine area (refer to the appended Figures). The most significant drill hole fire-assay intervals from this second batch of results are:

(meters) (meters) (meters) (g/t Au) - Belt Number
BR05-09 20.0 26.0 6.0 1.24 - BR(i)(i) (VG)(i)
63.5 89.0 25.5 1.91 (VG) - NB1,2,3,4
incl. 71.0 74.0 3.0 8.25 - NB2 (VG)
BR05-10 15.0 15.8 0.8 67.95 - NBA (VG)
42.35 69.5 27.15 1.38 - NB1,2,3,4
incl. 44.3 45.5 1.2 8.47 - NB1
incl. 56.0 58.3 2.3 2.48 - NB2
incl. 58.3 66.5 8.2 2.16 - NB3
75.5 79.1 3.6 3.51 - NB5
BR05-11 18.5 52.6 34.1 0.54 - NB1,2,3,4
- 8 assays pending
BR05-14 32.0 35.0 3.0 1.70 - BR
81.5 93.5 12.0 2.75 - NB1,2,3
incl. 89.4 93.5 4.1 6.04 - NB3
BR05-15 53.0 81.7 28.7 1.81 - NB1,2,3,4
incl. 65.0 66.5 1.5 3.67 - NB2
incl. 68.0 74.8 6.8 4.92 - NB3
incl. 77.9 81.7 3.8 2.26 - NB4
BR05-16 36.5 68.0 31.5 1.12 (VG)
incl. 47.7 56.3 8.6 2.47 - NB3 (VG)

(i) VG denotes visible gold observed in core interval

(i)(i) Denotes slate belts, BR- Boston Richardson Belt; NB1 - New
Belt 1 (up to New Belt 7 identified, including A)

Several additional observations can be made from this second batch of
fire-assay results:

- Full fire-assay results now received for 9 of the 23 drill holes
from 3 sections (8675E, 8700E and 8725E) covering a strike length
of 75 meters (Figure 1),

- Fire-assay results from the first 9 drill holes show extreme grade
variability even in the presence of visible gold (Figures 2 and 4),
and even with larger core samples, as historically observed at
Goldboro (ie., gold nugget effect),

- Reconciliation of fire-assay results with the logged slate belt
units for the first three sections is defining larger mineralized
and continuous zones that combine several of the new slate belts
below the Boston-Richardson belt (Figures 3 and 5). Core logging
has identified that when slate belts are separated by narrow
intervals of greywacke from 1 to 6 metres wide, the greywacke is
often significantly veined and mineralized. The fire-assay results
(Figures 2 and 4), also demonstrate that these interbedded
greywackes and veins often contain important concentrations of

- A new mineralized domain (combined slate belts 1, 2, 3 and 4) is
developing some 70 metres beneath the Boston-Richardson belt.
Within the hinge and along the south limb of the Boston-Richardson
anticline, the new domain has fire-assay gold grades of 1.11 g/t Au
over 19.5 metres, 1.91 g/t Au over 24.6 metres and 1.81 g/t over
28.7 metres from sections 8675E, 8700E and 8725E, respectively,

- Considering these fire-assay results and the core logging
descriptions from the additional 14 drill holes, the south limb of
the Boston-Richardson belt and the new domain appears continuous
over the 175 metre length drilled in the 2005 program from the 2.5
kilometre full length of the structure,

- The long intervals of the new domain intersections from each of the
holes will provide composite samples in excess of 100 kilogram each
for the total gold extraction metallurgical testing and will enable
more representative determinations of recoverable gold grades for
this zone.

The second set of results consist of 261 assayed sample intervals, in addition to results from a number of standards, duplicates samples and blanks that will eventually be used in Quality Assurance/Quality Control (QA/QC) analysis. According to Alex Horvath, P. Eng., quality control sample assay results for blank and certified reference standards introduced internally by the laboratory, and externally during initial sampling, demonstrate acceptable levels of accuracy for the fire-assay results in this second batch of results. Results from the duplicate sample assaying program will be evaluated to determine precision levels (ie., reproducibility) realized at each stage of the sampling, sample preparation and assaying process. Results from the QA/QC data evaluation will be reported in a follow-up press releases.

Final assay results have been received for all but seven samples from the first three holes of the program (BR05-04, 05 and 06) for which results were reported in a July 6, 2005 press release of Section 8675E assay results. The seven remaining sample intervals with assays pending are from intervals of greywacke between slate belts 1, 2, 3 and 4 not initially identified for sampling in hole BR05-06.

Fire-assay results from the 2005 campaign to date are being reconciled with the detailed core logging and historical fire-assays, and will eventually be used in defining the full extent of the mineralized intervals, for now covering drill holes BR05-09, 10 and 11 on section 8700E and BR05-14, 15 and 16 on section 8725E (Figures 3 & 5). Drill core composites will be assembled from the complete mineralized intervals in individual drill holes and from combined drill holes in the same section and across two or more sections. The 2.0 to 6.5 kilogram coarse crushed rejects from each of the initial samples will be assembled into these larger composite samples weighing 100 kilograms for total gold extraction metallurgical testing.

Under the supervision of Alex Horvath, P. Eng. and Martin Bourgoin, P.Geo., all of the Goldboro HQ size drill core from the Phase 1 campaign is being processed by conventional sample preparation and sent for fire-assay at ALS-Chemex in Val-d'Or, Quebec. The core lengths analyzed vary in length from 0.6 to 1.8 meters averaging 1.5 meters, with the individual core sample weights ranging from 2.5 to 7 kilograms. Core samples are sawed in half, bagged, sealed and sent to the assay laboratory. The samples are crushed to -10 mesh size (2 millimetres), followed by pulverizing of a 250 gram split to -150 mesh size (0.125 millimetres), from which a 50 gram sample of the pulp is used for conventional fire-assay.

The Press Release has been prepared under the supervision of Jean Lafleur, Geol. (OGQ), the Company's principal consultant and a Qualified Person under the NI 43-101 guidelines. The Company has already issued a number of releases from the Phase 1 campaign dated February 28, April 12, April 19, May 9, June 8 and July 6, 2005.

Graphics are available on the CCNMatthews' website at the following address:


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Contact Information

    Jacques Levesque
    (819) 797-4354
    (819)797-2454 (FAX)
    David Hatchette
    (902) 469-1936