Tirex Resources Ltd.

Tirex Resources Ltd.

October 29, 2009 09:00 ET

Tirex Provides Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) - Tirex Resources Ltd. (TSX VENTURE:TXX) -

  • Drilling continues at Letitna with large step outs
  • Letitna remains open for expansion in every direction (north, east, south, west)
  • Second drill continues on East Slope Trend with new discovery focus

Tirex Resources ("Tirex") is pleased to provide an update on drilling at Letitna.

The company is currently awaiting assays for multiple holes drilled along 255m of strike length on the Letitna Zone. Letitna is open for expansion in all directions and several assays reported to date have included wide intersections of copper, zinc, gold and silver mineralization including 46m (151 ft) of 0.70% Cu, 2.68% Zn, 20.8 g/t Ag and 1.6 g/t Au including 11.1m of 2.18% Cu, 3.80% Zn, 38.0 g/t Ag and 4.0 g/t Au including 2.0m of 2.54% Cu, 6.74% Zn, 18.3 g/t Ag and 14.1 g/t Au (see Tirex news release dated July 13, 2009 for details).

Currently the drill is finishing one more hole near the north of the current drill grid at Letitna and then will be moving north, to drill a 150m step out along strike to the north. Drilling at Letitna is targeting large tonnage potential in the area.

In addition to drilling at Letitna, a second drill has started drilling on the East Slope Trend. This is a new area first identified when Tirex flew Albania's first ever airborne geophysical survey. Subsequently field crews conducted intense groundwork in the area including geochemistry, detailed mapping and ground geophysics to define drill targets. Drilling on the East Slope is focused on the new discovery potential of the area.

Bryan Slusarchuk, CEO, states, "Deciding to drill a 150m step out hole at Letitna is indicative of our technical team's belief that Letitna has the potential to host significant size. Drilling to date, on a tighter grid pattern to build mineral resources, has demonstrated good continuity and the zone remains open in every direction."

Tirex is a company purpose-built to explore and develop the large 553 square kilometer Mirdita District in Albania. The nature of the VMS mineralization in this District provides Tirex investors with exposure to a high grade basket of metals: Copper, Zinc, Gold and Silver. The property is readily accessible by paved and gravel roads and is located 70 km north of the capital city of Tirana. The property covers the core of the historically productive Mirdita VMS base metal district. It represents an opportunity to explore Copper, Zinc, Gold and Silver zones that were previously partially mined, explored or evaluated at lower metal prices, and provides an opportunity to apply modern exploration techniques toward the discovery of new VMS deposits and extensions of known zones. In addition to the 17 historical deposits identified by previous state-run exploration, Tirex has identified numerous high priority exploration targets resulting from the 2007 airborne geophysical survey, ongoing ground geophysics, geological mapping and other field work. The Mirdita exploration project is managed by an experienced team of Canadian geologists and other professionals, and several senior Albanian geologists, geophysicists and surveyors.

George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101 and Mirdita Project Manager, is responsible for the technical content of this news release.

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 which 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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