Tirex Resources Ltd.

Tirex Resources Ltd.

June 27, 2011 06:00 ET

Tirex Resources: Select Mirdita Concessions Set to Transition to Near Term Copper and Gold Production

- Ministry Notified of Tirex Production Plans in Multiple Areas of District

- Copper and Gold Initially Targeted With Zinc Production Potential Being Assessed

- Exploration Continues Targeting New Discovery of Major VMS Deposits

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2011) - Tirex Resources (TSX VENTURE:TXX) is pleased to announce that it has notified the Ministry of Economy, Trade and Energy in Albania of its intent to convert certain areas of its Exploration Concessions into Exploitation (Mining) Concessions. Tirex is planning production at six VMS deposits targeting copper and gold while also assessing the additional viability of zinc production.

These areas of the Mirdita District (Tuc, Qaf Bari, Paluca, Fushe Arres, Gurthi-Koshaj, Letitna) were the focus of significant historical work by Albanian state-run programs and host deposits in varying stages of development. Some of these deposits were producing mines while others were being readied for production when the Albanian state mining industry stopped operations country-wide due to democratization and privatization. Work by Tirex over the past four years has been, in part, focussed on rebuilding and assessing the Albanian database on these deposits.

Tirex has arranged to enter production via a mining partnership with an experienced mining group (see Tirex News Release 2011-03-23). The arrangement fast tracks Tirex into production in a cost effective and non-dilutive manner. The mine production plans will provide employment and development in the Mirdita Region and will be conducted in accordance with international environment, health, safety and social standards. Tirex's planned commencement of gold and copper production comes at a time of rapid emergence of the Albanian economy, fuelled in part by a 10% flat corporate and personal tax rate, NATO membership, European Union candidacy, and a parliamentary democracy.

In addition to planned substantial near term production and cash flow from mining operations, Tirex will continue the first ever modern, large scale exploration of the Mirdita District, targeting the discovery of major VMS deposits. The next exploration areas to be drilled are large targets defined by geophysics and geological mapping in late 2010 just before the onset of winter. Tirex's ongoing district-scale exploration of Mirdita is funded, in part, by the European Bank for Reconstruction and Development ("EBRD").

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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