Vancouver, B.C. - April 27, 2005: Oremex Resources Inc. ("Oremex") announces that it has entered into a Letter Agreement with First Majestic Resource Corp. ("Majestic") to sell its interest in the La Encarnacion Mining Claim (La Parrilla) located in the State of Durango, Mexico. The terms of the agreement require Majestic to pay Oremex CDN$20,000 and 200,000 common shares of Majestic. The terms and conditions of the Letter Agreement are subject to final legal due diligence review and regulatory approval.

Oremex acquired the rights to the La Encarnacion mining claim and five other mineral properties under an agreement dated February 28, 2003. The principal properties acquired under this agreement were the Tejamen and San Lucas properties; however, the other properties were not considered to be principal properties. Oremex had not conducted any work programs on the La Encarnacion mining claim as the management Oremex has decided to focus on the development of the resources at its Tejamen Silver Property. In March 2005, an independent resource study concluded that the Tejamen property contains an equivalent silver resource of 40.3 million ounces in a total of 10,190,000 tonnes, grading a silver equivalent of 123.47 g/t.

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