Tirex Resources Ltd.

Tirex Resources Ltd.

January 11, 2011 14:04 ET

Tirex Arranges $5,000,000 Institutionally Led Financing

- Proceeds to Be Used to Intensify Exploration and Advanced Stage Work at Mirdita

- $5,000,000 Private Placement Is in Addition to the Recently Announced $2,000,000 Financing With the European Bank for Reconstruction and Development (EBRD)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2011) - Tirex Resources (TSX VENTURE:TXX) is pleased to announce it is arranging a non-brokered private placement with various institutional investors consisting of 10 million shares at $0.50 per share for total proceeds of $5,000,000.

Tirex will use the proceeds of this financing and the recently announced EBRD financing to significantly accelerate the company's exploration program and advanced stage work at Mirdita.

Tirex's program at Albania is a concurrent blend of advanced stage definition and expansion work in known areas of mineralization alongside of pure exploration in previously undrilled areas of the District. The most recently announced assays from drilling at Mirdita included a 19.3m (63.3 ft) intercept of 3.66% Cu, 1.13% Zn, 8 g/t Ag and 1.2 g/t Au including 6.7m (22 ft) grading 7.38% Cu, 1.77% Zn, 13 g/t Ag and 1.6 g/t Au (see Tirex News Release 2010-12-13).

To date Tirex has outlined four significant zones of gold-enriched copper and zinc mineralization on the property at Gurthi South No. 2, Gurthi South No. 1, Letitna and Koshaj. In late 2010 Tirex contracted SRK Consulting (United Kingdom) Ltd. to complete initial NI 43-101-compliant mineral resource estimates for these four deposits based on Tirex results to date. All these zones remain open for expansion. Plans for 2011 include the completion of the mineral resource estimates, a Preliminary Economic Assessment (PEA) study and continuing exploration work with a dominant focus on drilling. The drilling will continue to both define and expand known zones of mineralization and test geological and geophysical targets with new discovery potential.

Further details on the company and the Mirdita Project can be found on the Tirex website at www.TirexResources.com.


Bryan J.R. Slusarchuk, CEO and Director

Forward-Looking Statements. This Tirex News Release may contain certain "forward-looking" statements and information relating to Tirex that are based on the beliefs of Tirex management, as well as assumptions made by and information currently available to Tirex management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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