SOURCE: IO Circuit

October 23, 2006 06:30 ET Announces Coverage of URXE

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA--(Marketwire - October 23, 2006) - Urex Energy Corporation (the "Company" or "Urex") (OTCBB: URXE) announced that it has moved forward with preparations for drill testing of its uranium properties in New Mexico and Argentina. The Company estimates that drill test programs at its La Jara Mesa Extension Project and its Rio Chubut Project will commence in early to mid-November as permit approvals are obtained.

Urex has acquired a 100% interest in the La Jara Mesa Uranium Project, which straddles the La Jara Mesa, and Melrich uranium deposits in the Grants Mining Belt of New Mexico. The Grants Mining Belt is the most prolific uranium-producing district in the United States. Forging ahead with its drill-testing program at the site, Urex has filed an application with the Mining and Minerals Division of the New Mexico - Energy Minerals and Natural Resources Department for a Minimal Impact Uranium Exploration Permit.

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