Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

January 29, 2008 13:18 ET

Triex Minerals Corporation: 2008 Exploration Budget and Stock Options Granted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Triex Minerals Corporation (TSX VENTURE:TXM) (the "Company") is pleased to report the details of the $6.4 million annual exploration budget for 2008 approved by the Board of Directors.

With approximately $14 Million of working capital and only 19.7 million shares issued, the Company is well financed to both execute its planned exploration program, and also respond to new opportunities in the uranium sector, for which fundamental and long-term supply challenges persist.

The 2008 exploration budget is focused on drilling. Properties acquired and targets developed during the past three years will be tested. More than 15,000 metres are planned on six different projects in three different districts; the Company continues to manage exploration risk through diversity.

Individual planned programs include:

- 5,000 m at Pasfield Lake, SK

- 5,000 m on four regional targets in Hornby Bay Basin, NU

- 3,000 m on two targets at Stony Road, SK

- 1,200 m on the new Fireweed discovery, AK

- 2,500 m on three targets at the new Riverlake and Highrock properties, SK

Drilling is scheduled to begin within two weeks, and will continue more or less continuously for the next eight months, ending in November. Dominion Drilling Inc., of Saskatchewan, has the depth to provide three different types of rigs that the Company requested in it's tenders in order to most cost-effectively drill a variety of different targets, and as such, maximize the number of holes and total metres drilled.

The Company also announces the granting of incentive stock options to certain directors, officers and employees to purchase up to 505,000 common shares under the Company's Incentive Stock Option Plan. The options will be granted for a period of five (5) years, commencing on January 23, 2008, exercisable at a price of $2.00 per share.

TRIEX MINERALS CORPORATION

Michael Gunning, President

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

Contact Information

  • Triex Minerals Corporation
    Michael Gunning
    President
    (604) 687-6680
    (604) 687-1448 (FAX)
    Website: www.triexminerals.com