Orex Exploration Inc.

Orex Exploration Inc.

February 28, 2005 08:30 ET

Orex Starts Drilling Program at Goldboro, Nova Scotia


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: OREX EXPLORATION INC.

TSX VENTURE SYMBOL: OX

FEBRUARY 28, 2005 - 08:30 ET

Orex Starts Drilling Program at Goldboro, Nova Scotia

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Feb. 28, 2005) - OREX EXPLORATION
INC. (TSX VENTURE:OX) announces that Logan Drilling Ltd. of Stewiacke,
Nova Scotia has been awarded the drilling contract, and mobilized a
drill rig, to the Goldboro property to complete a 25 hole - 2,500 metre
program.

The Phase 1 drilling program is designed to demonstrate that the true
grade of the Goldboro Deposit is not accurately represented, and hence
under-estimated, in the current resource estimate of 13.3 million tonnes
grading 0.78 g/t Au in the Measured and Indicated Resources categories,
and 15.6 million tonnes grading 0.63 g/t Au in the Inferred Resources
category, as stated in the NI 43-101 Technical Report by Martin Bougoin
of MRB & Associates, dated August 31, 2004, titled "Technical Report,
Goldboro Property, Guysborough County, Nova Scotia".

A comparative review of conventional fire assay results and several
metallurgical test programs completed on samples collected from the 278
surface and underground exploration holes and underground sampling
programs completed in the 1980's and 1990's, indicates the average grade
of the Goldboro ores may be significantly higher grade than indicated in
the current resource estimate. The conclusions are supported by historic
production figures from the Boston-Richardson Mine of the Goldboro
project when prior to 1910, 376,383 tonnes of ore was mined at an
average grade of 6.8 g/t Au, significantly higher grade than the current
resource estimate grade.

Metallurgical test work completed on Goldboro ore samples during the
1980's and 1990's indicate that Goldboro ores contain a significant
coarse gold component. The test work indicates from 25% to 35% of gold
in Goldboro ores occurs in freely-liberated grains greater than 0.5
millimeters in diameter with individual gold grains up to 1 centimeter
in diameter. Statistical studies provide minimum sample size
specifications to obtain representative grade determinations of ores
based on the diameter of the largest gold grains in the ores. For
Goldboro ores, the indicated minimum sample size requirements are from
10 to 85 kilograms.

The current resource estimate for the Goldboro project was calculated
from the results of conventional fire assaying of split diamond drill
core samples from the 278 historical drill holes completed. Individual
core samples were typically no greater than 1.5 meters in length and
weighed on average 2.5 kilograms with no samples weighing greater than 4
kilograms. These samples were too small to ensure proportionate
representation of the coarse gold component of these ores. Hence, the
grade determinations made from these samples are believed to be
inaccurate representations of the true grade of the ores.

It is expected that the true grade of the Goldboro ores will be more
accurately demonstrated by metallurgical test results from the Phase 1
drilling that are expected to approach the historic mining grade of 6.8
g/t Au. Positive results will warrant a much larger second phase
definition drilling program to re-evaluate the grade of the entire
Goldboro deposit using the revised sampling and metallurgical processing
protocols so that accurate grade determinations can be used for resource
grade estimation.

Orex Exploration Inc. - The Future is Golden

Orex Exploration Inc. (TSX-V: OX) is a junior gold exploration company
focused on outlining and developing a viable gold project at its 600
hectares Goldboro Property in eastern Nova Scotia, located 185
kilometres by road from Halifax. The NI 43-101 Technical Report on the
Goldboro Property outlines Mineral Resources in the Measured, Indicated
and Inferred categories. The current Measured and Indicated Resources
total 13.3 million tonnes grading 0.78 g/t Au; whereas the Inferred
Resources total 15.6 million tonnes grading 0.63 g/t Au. The prime
objective of the 2005 exploration program is to determine the realistic
gold grade of the Goldboro Deposit, and whether gold resource grades can
approach the historic mining grade of 6.8 g/t Au by completing a more
appropriate sampling and analytical process used elsewhere for coarse
free gold deposits. An increase in the gold grade could potentially have
a major impact on the gold resource.

Further information is available on the Company's web site at
www.orexexploration.ca.

The Press Release has been prepared and revised under the supervision of
Jean Lafleur, M.Sc., P. Geo., a Qualified Person under the NI 43-101
guidelines.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    OREX EXPLORATION INC.
    Jacques Levesque
    President
    (819) 797-4354
    (819) 797-2454 (FAX)
    The TSX Venture Exchange does not accept any responsibility for the
    adequacy or accuracy of this press release.