Vancouver, Canada, November 19, 2003; Oremex Resources Inc. (TSX:VEN ORM) is pleased to announce that the Company has completed an initial public offering and raised gross proceeds of $2.5 million. The funds raised will be used to begin phase 1 of a $1.3 million exploration and drilling program on two of the Company's six properties in Mexico.

Oremex has 17,802,929 shares issued and outstanding of which 42.7% are owned by insiders and are subject to escrow conditions under TSX Venture Exchange policies. Oremex has working capital of approximately $2.75 million that includes proceeds from the sale of Series A and Series B Special Warrants prior to the IPO.

The board of directors and management of Oremex are mining professionals each with a history of developing and putting mines into production, bringing to Oremex considerable expertise and depth in exploration, development, production and financing. The President and CEO of Oremex is Dale Scholz, B.Sc., Geological Engineering and the directors are Ross Glanville, P.Eng., M.B.A., M.Sc.; Henry Scholz, B.Sc., M.Sc.; and James Yates. Today, Mr. Scholz announced the appointment to the board of Anthony Harvey. Mr. Harvey has over 40 years of mining consulting experience on numerous projects. He was formerly with Wright Engineers Ltd.-Flour Daniels in senior management positions that involved the design and construction of 14 mines worldwide with capital costs ranging up to $150 million. Mr. Harvey was a founder, director and senior executive of Azco Mining Inc., listed on the TSX and AMEX and a director of Cobre del Mayo, a Mexican mining company formed in partnership with Phelps Dodge Corporation.

Oremex has the right to acquire a 100% interest in six silver and gold mineral properties located in the states of Zacatecas and Durango, Mexico. The exploration and drill program will focus on the Tejamen Silver Property located in the municipality of Nuevo Ideal, in the state of Durango, Mexico. The project is comprised of 21 mineral exploration concessions totaling approximately 1,672.05 hectares. Previous exploration including 40 diamond drill and reverse circulation holes totaling 8,092 metres shows the presence of a large, silver/gold-bearing system with high-grade feeder zones. Minera Montana, the Vendor, using historical information, has calculated an inferred resource of 8,400,000 metric tons at a grade of 89 g/t silver and 0.2 g/t gold.

In an independent technical report by Peter A. Christopher PhD., P.Eng, Peter Christopher & Associates Inc., a firm of independent Qualified Persons as defined by National Instrument 43-101 adopted by Canadian Securities Administrators, reviewed and interpreted the results of previous exploration conducted on the Tejamen Silver Property by CRM, Luismin, Tormex, EMISA and Kobex Resources and writes, "Recent exploration, by previous operators, has demonstrated that the higher-grade veins are enveloped by alteration zones and stockwork vein zones that contain significant silver and in some cases gold and base metal values over wide intervals."

"Twinned holes TJBD-6 and TJC-11 contained 6m grading 1400 g/t silver and 2m of 5036 g/t silver (also, 3.90 g/t gold; 2.33% lead and 2.74% zinc) that demonstrate high-grade feeder zone potential. The writer (Dr. Christopher) is of the opinion that definition of geological, tonnage and grade models by additional drilling has a good possibility of locating economic silver deposits on the Tejamen property."

"We are looking forward to the challenge ahead of us. We have a solid and accomplished mining team that is capable of building an emerging silver and gold junior resource company," commented Dale Scholz, President & CEO. Mr. Scholz added, "We're well financed for our exploration programs on the Tejamen Silver Property and the San Lucas Silver/Gold Property and are currently mobilizing drills to begin work within two weeks."

The Company further announced that it has issued 375,000 options at a price of $0.89 for a period of five years to directors and employees with terms pursuant to the Company's Share Option Plan.

Oremex Resources Inc. is a Vancouver based resource company which holds the right to acquire a 100% interest in six mineral properties in Mexico. Oremex will focus on the exploration and development of the Tejamen Silver Property and the San Lucas Silver Property. Additionally, the Company expects to emerge through the evaluation and acquisition of other projects.
Website: http://www.oremex.com

For more information, please contact:

James Yates, CFO & Director
Sandra Buschau, Manager
Corporate Communications
T. 604 683 5651
F. 604 684 9365
Email: sandy@oremex.com
Website: www.oremex.com

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, including without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of Oremex Resources Inc. are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oremex's expectations are exploration risks detailed herein and from time to time in the filings made by Oremex with securities regulators.