News Archives 2004

Oremex Reports Exceptional High Grade Intercepts which Continue to Expand the Tejamen El Manto Zone, Durango, Mexico and Oremex Appoints New Director

Vancouver, B.C. November 23, 2004: Oremex Resources Inc. announces assays from eleven (11) additional drill holes that were recently completed are listed below, and the results continue to expand the El Manto zone to the SE on section lines 150 north, 200 north and 250 north and to the south on section line 50 south. A number of holes were drilled to a depth of 200 metres or more to intersect a deeper mineralized structure reported in previous historic drilling. Drill assays confirmed the presence of this mineralized structure as demonstrated by holes #142 and #149 below.

Spectacular results have been received from drill holes #141 and #142 on section line 250 north. Assay results for hole #141 demonstrate 36 ounces per tonne over 92 feet (from 80 metres to 108 metres), including 76 ounces per tonne over 39 feet (this high assay is equivalent to 1.3 ounces per tonne gold over 39 feet at present gold/silver prices).

Most importantly, hole #142 on the same section line, located approximately 100 feet to the east, intersected the same high grade zone (39 feet at 11opt.). In addition, hole #142 also intersected significant gold values from 154 metres to 172 metres averaging 1.92 grams over 18 metres ( 59 feet ).

Assays from all holes are provided in the table below:

To date, a total of 144 holes (23,799 metres) have been drilled and assayed on the Cerro Prieto and the El Manto zone. Drill hole locations can be viewed on our website map at www.oremex.com

Randall Reneau, P. Geo, Oremex's Chief Geologist, is the Qualified Person (QP) responsible for the Tejamen exploration and has verified the data in the table above.

Oremex is also pleased to announce that 2,415,000 IPO warrants at $0.60 were exercised and the Company's current working capital position now totals approximately $3.8 million.

In addition, Mr. Anthony Harvey, Chairman of Oremex Resources, announces that Iain MacPhail has been appointed a Director of the Company. Since qualifying as a Chartered Accountant in 1977, Mr. MacPhail has provided accounting and tax consulting services to numerous clients, including many public resource companies. Currently, he is an officer of two public resource companies.

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For more information, please contact: James Yates, CFO, or Sandra Buschau, Manager, Corporate Communications, sandy@oremex.com T. 604.683.5651 F. 604.684.9365

November 23, 2004