Prominex Resource Corp.

Prominex Resource Corp.

November 13, 2007 09:30 ET

Prominex Earns 51% Interest in Tulks Hill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - Prominex Resource Corp. (TSX VENTURE:PXR) (Prominex) announced today that it has earned a 51% interest in Buchans River Ltd.'s (TSX VENTURE:BUV) (Buchans River) Tulks Hill Property located approximately 40 kilometers southwest of the former mining town of Buchans, 25 kilometers west of the Duck Pond deposit, 12 kilometers northeast of Messina's Boomerang prospect and 5 kilometers southwest of their Tulks East Deposit. The property is accessible from both the towns of Buchans and Millertown by well-maintained pulpwood haulage roads.

The Prominex interest was earned under an agreement respecting the Property between Prominex and Buchans River (the "Agreement") which called for $1,000,0000 in work commitments by Prominex, cash payments of $70,000 to Buchans River, and the issuance of 900,000 Prominex common shares to Buchans River, all to be completed by November 4, 2009. Having completed the exploration program, cash payments, and share issuance, Prominex has exercised its right to accelerate the earn-in of its 51% interest in the property.

The Agreement provides that Prominex will be the operator of an unincorporated joint venture to be formed by Prominex and Buchans River to operate the Property. Subject to agreement on a program description, schedule and budget, the parties intend to carry out a further exploration program on the Property while they work to finalize the terms of a formal joint venture agreement.


Lorne King, President and CEO

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as expects, ''will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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