Tirex Resources Ltd.

Tirex Resources Ltd.

March 18, 2010 18:40 ET

Tirex Closes $1,000,000 Private Placement Fully Subscribed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - Tirex Resources Ltd. ("Tirex") (TSX VENTURE:TXX) is pleased to announce that it has completed its equity private placement, announced March 12, 2010, for total gross proceeds of $1,000,000.

Tirex has recently remobilized to its Mirdita VMS project in Albania, to commence its 2010 exploration and drilling program. Technical team members are now on site with drilling to commence this month.

The district-scale program at Mirdita is a combination of advanced stage definition and expansion drilling, combined with pure exploration drilling targeting discovery.

Additional to this equity raise and equity the Company may raise in the future, Tirex also has EUR 2 million yet to be drawn (approximately CAD $2.78 million) remaining under its loan agreement announced on October 8th, 2008, with the European Bank for Reconstruction and Development ("EBRD").

As consideration for services rendered in connection with the private placement, the Company paid finder's fees aggregating $28,800 and issued an aggregate 149,600 common shares ("Finder's Fee Shares"). The private placement shares and the Finder's Fee shares issued are subject to a four month hold period, expiring July 17th, 2010.

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


Bryan 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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