Vancouver, B.C., Canada, November 18, 2003; Oremex Resources Inc. (the "Company") is pleased to announce that the Company was listed for trading today under the trading symbol: ORM. Oremex also announces the completion of an initial public offering of 5 million units at $0.50 per unit for gross proceeds of $2.5 million. Each unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one share at a price of $0.60 per share for a period of 12 months.

The financing was undertaken by Canaccord Capital Corporation (the "Agent") which received a cash commission of 8% of the gross proceeds raised and a corporate finance fee of 75,000 common shares. Additionally, the Agent has the right to receive a further 750,000 units, at a price of $0.50 per Unit, pursuant to the exercise of a 15% greenshoe oversubscription option within 60 days of closing. Upon exercise of the greenshoe option, the Company will receive gross proceeds of $375,000. The Agent has also been granted warrants to purchase shares which is equal to 20% of the number of Units sold, at the price of $0.60 exercisable for a period of 12 months from closing.

The Company's prospectus issued in respect of the financing also qualified for distribution 10,219,927 common shares upon the exercise of previously issued Series B Special Warrants at various prices. A portion (7,600,000 shares) of these shares are subject to escrow restrictions which provide for release from escrow over a three-year period.

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