News Archives 2006

New Directors

VANCOUVER, B.C. (May 15, 2006) - Oremex Resources Inc. (TSXV symbol - ORM) (the "Company"). Andrew Milligan, the Chairman of the Company, is pleased to announce that at the Annual General Meeting of the shareholders held on May 11, 2006, the shareholder elected two new directors, Jack Jefferson and Francisco Crespo Hernandez.

Mr. Jefferson is a lawyer who has over forty years of experience in financing public and private companies. As President (and one of its founders), he took Black Swan Gold Mines public and helped bring its Western Australian mine into production. He also served on the Boards of Directors of two other mineral exploration companies. Mr. Crespo is a consulting geologist and a Mexican national with over 35 years of experience in the mining industry in Mexico and other countries. He was involved in the development of the Cumobabi, the Lampazos and the Maria mines - all located in the Mexican state of Sonora. He led the Minorco-Anglo Mexican gold exploration program from 1991 to 2000 and was involved in early stage exploration and drilling of Oremex's Tejamen, Durango project. Mr. Milligan welcomed the new directors to the board and thanked the former directors who did not stand for re-election, Mr. James E. Yates, Mr. Anthony Harvey and Mr. David Duval, for their contributions to the Company.

The Company also announces the grant of 775,000 stock options under the incentive stock option plan to directors and officers of the Company. The options are exercisable at a price of $0.89 per share for a period of five years, and any shares issued upon exercise of these options are subject to a four month hold period from the date of this news release.

The Company also announces that Dale E. Scholz, President, CEO and a director of the Company, has acquired an additional 1,550,000 common shares in the capital stock of the Company pursuant to a private transaction. These shares represent 5.7% of the outstanding common shares. As a result of the acquisition, Mr. Scholz owns and controls 3,425,000 common shares and the right to acquire a further 275,000 common shares in the capital of the Company pursuant to the exercise of certain outstanding incentive stock options, which collectively represent 13.5% of the issued and outstanding share capital of the Company. The shares were acquired in a private transaction, and additional shares of the Company may be acquired for investment purposes. The shares were acquired at a deemed price of $0.58 per share.

For more information, please contact:

Linda Thorstad, M.Sc., P.Geo.
Chief Executive Officer
T: (604) 683-5651
Email: linda.thorstad@oremex.com

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

National Instrument 43-101 requires the following statement: that the preliminary assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.