Orex Exploration Inc.

Orex Exploration Inc.

July 06, 2005 07:45 ET

Orex Intersects up to 3.29 g/t Gold Over 18 Metres in First Batch of Fire-Assays From Phase 1 Drilling at Goldboro

ROUYN-NORANDA, QUEBEC--(CCNMatthews - July 6, 2005) - OREX EXPLORATION INC. (TSX VENTURE:OX) has received a first batch of fire-assay results from the Company's recently completed 23 holes / 2,436 metres Phase 1 diamond drill campaign at its 100% owned Goldboro Property in Nova Scotia. Results are from conventional fire-assay analysis of holes BR05-004, 005 and 006 (located on section 8675E) received from ALS-Chemex Laboratories in Val-d'Or, Quebec in the historical Boston-Richardson mine area (refer to the appended Figure 1 - Surface Location Map; Figure 2 - Cross Section 8765E with Individual Fire-Assay Results over 0.5 g/t Au; Figure 3 - Cross Section 8675E with Composited Fire-Assay Results Over New Mineralized Belts). The most significant drill hole fire-assay intervals from this first batch of results are:

(meters) (meters) (meters) (g/t Au) - Belt Number
BR05-04 25.4 30.8 5.4 2.08 - BR(i)(i)
incl. 28.2 29.7 1.5 5.26 (VG)
80.0 87.5 7.5 0.73 - NB3
incl. 86.0 87.5 1.5 1.67
99.2 100.6 1.4 0.40 (VG)
108.5 114.5 6.0 0.71 - NB6
123.5 131.0 7.5 1.95 - NB7
BR05-05 44.0 45.5 1.5 4.04 (VG) - NB1
53.0 63.5 10.5 1.36 - NB3
incl. 59.9 61.0 1.1 6.94
68.7 71.0 2.3 1.25 - NB4
86.0 104.0 18.0 3.29 - NB6
93.5 96.5 3.0 7.12
102.5 104.0 1.5 19.25
BR05-06 14.0 15.5 1.5 1.43 - NBA
23.0 24.5 1.5 0.86 - NB1
29.0 30.5 1.5 0.66 - NB2
35.0 47.0 12.0 0.59 - NB3
incl. 41.0 47.0 6.0 1.04
57.5 65.0 7.5 0.87 - NB4

(i) VG denotes visible gold observed in core interval and assaying
completed by metallic screen methods on each half of the split
core sample interval (metallic screen results pending for VG
interval in hole BR05-004)
(i)(i) Denotes slate belts, BR- Boston Richardson Belt; NB1 - New
Belt 1 (up to New Belt 7 identified, including A)

Two key observations can be made from these early fire-assay results:

- Fire-assay results from the first three drill holes show extreme
grade variability even in the presence of visible gold (Figure 2),
and even with larger core samples, as historically observed at
Goldboro (ie., the gold nugget effect)
- It appears that gold belts could merge into larger mineralized and
continuous zones (Figure 3), enabling a more representative
composite sample for total gold extraction metallurgical testing.

The first set of results consist of 156 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 good accuracy for the fire-assay results with no evidence of contamination occurring during sample preparation. Results from the duplicate sample and assay data is being monitored and 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 release.

Fire-assay results from the 2005 campaign will be 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 BR05-04, 05 and 06 on section 8675E (Figure 3). 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 up to 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.

Mr. Jacques Levesque, President and CEO of Orex, states that "Orex is pleased with the work and fire-assay results to date. The conventional fire-assay results show a similar pattern to historical fire-assay results. However, the Company has acquired the expertise to explain the variability in the gold grades in the presence of very coarse gold nuggets and its irregular distribution, and can now move beyond this historical barrier. Large sample composites reflecting more accurate mineralized corridors and total extraction metallurgical testing should insure more realistic and possibly higher gold grade determinations for Goldboro. An increase in the gold grade could potentially have a major impact on the gold resources."

The Press Release has been prepared and revised 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, and June 8, 2005. The Company expects to release new fire-assay results as they become available in the coming weeks, along with historical fire-assay comparisons.

Maps are available on CCNMatthews' website at the following address: http://www2.ccnmatthews.com/database/fax/2000/oxa0706.pdf

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

Contact Information

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