Oremex Announces Appointment of CFO
VANCOUVER, BC - Oremex Resources Inc. (TSX-V: ORM) (the "Company") is pleased to announce the appointment of Chuck Jenkins, BA, CGA, as Chief Financial Officer of the Company, effective September 5, 2006. Mr. Jenkins has held senior financial positions with Canadian publicly-traded companies. He has also worked in a corporate finance and regulatory compliance capacity with three leading brokerage firms and served in a senior role with the BC Securities Commission. Mr. Jenkins obtained his BA in 1977 and has held his CGA designation since 1983.
"Mr Jenkins brings a broad range and depth of experience in the securities, corporate compliance and corporate finance fields, and will be a valuable addition to the Oremex team," stated Linda Thorstad, CEO.
The Company also announced the grant of 100,000 stock options to Mr. Jenkins under the incentive option plan. The options are exercisable at a price of $0.70 per share for a period of five years.
Mr. Jenkins replaces Mr. Don Smith, MBA, CA, who is leaving the Company to pursue other professional opportunities. Mr. Smith will remain available to the Company on a consulting basis. The Board of Directors thanks Mr. Smith for his service.
The Company's most advanced projects are its Tejamen silver property and its San Lucas polymetallic property, both located in Mexico. An independent resource study (NI 43-101 compliant) concluded that the Tejamen property contains a silver-equivalent resource of 50.8 million ounces in a total of 22.6 million tonnes, grading a silver-equivalent of 2.25 ounces per tonne (69.8 grams per tonne). The independent preliminary assessment is expected to be completed by the end of September, 2006.
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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