Appointment of Chief Executive Officer
VANCOUVER, B.C., (July, 25, 2006) - Oremex Resources Inc. (TSXV symbol - ORM) (the "Company") is pleased to announce the appointment of Linda Thorstad, PGeo, as the Chief Executive Officer of the Company. A registered professional geoscientist, Thorstad has many years of senior management experience in the mining industry and brings a wealth of development and mining experience to the Company. In addition to her many senior mining roles, she is past president of the Association of Professional Engineers and Geoscientists of BC as well as recipient of the 2002 Woman of Influence in Business Award. Her technical background, coupled with strong communications and management skills, will be an asset to the Company.
The Company's Chairman, Andrew Milligan stated: "The Company is delighted to have someone with Ms. Thorstad's background and experience to fill the CEO role and round out the management team".
The Company also announced the grant of 250,000 stock options to Ms. Thorstad under the incentive option plan. The options are exercisable at a price of $0.60 per share for a period of five years.
Company assets include both the Tejamen Silver and the San Lucas Polymetallic Properties located in Mexico. An independent resource study (NI 43 - 101 compliant) concluded that the Tejamen property contains an equivalent silver resource of 50.8 million ounces in a total of 22,600,000 tonnes, grading a silver equivalent of 69.8 grams per tonne. An independent preliminary assessment is anticipated for late summer 2006.
The San Lucas Property represents a promising polymetallic project. Oremex continues to evaluate its other mineral concessions for principal property status and will either complete further exploration work or sell the asset.
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.
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