Oremex Press Releases

Oremex Increases Gold Exploration Potential at San Lucas to 2+ km Mineralized Zone

Mon, 09 Aug 2010 08:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 08/09/10 -- Oremex Resources Inc. (TSX VENTURE: ORM) is pleased to announce continued positive results from surface sampling/mapping at the wholly owned San Lucas project in Durango, Mexico. Field work has been focused to define a drilling program to test the gold mineralization present in a silicified dacite dike (previously classified as a rhyolite dike), which outcrops extensively on the concessions. A total of 220 samples have been collected along the silicified dacite dike, which also has cross cutting mineralized dikes, significantly adding to tonnage potential.

The dike has three more intensely mineralized segments; the 330m long North zone reports silver grades to 1,856 g/t and gold grades to 1.06 g/t, the 800m long Central Zone reports gold grades to 1.68 g/t and the 180m long South Zone reports gold grades to 0.82 g/t. The mapped strike length of the silicified dacite dike has increased from 1.5km to 2.0 km. Basic geological analysis is underway to define the gold potential at depth, both in the dike and adjacent favourable stratigraphic/structural positions.

Oremex CEO Michael Smith commented: "The discovery of the gold-mineralized silicified dacite dikes and dacite domes at San Lucas leads to exciting exploration potential over the identified 2+ km long mineralized zone. The sampled gold grades clearly indicate significant potential to discover deposits, like at San Agustin and the El Castillo mine, at both shallow and greater depths. Location of favorable stratigraphic and structural positions, associated with the gold-mineralized dacite bodies, could result in significantly higher gold grades than sampled at the surface."

At San Lucas the mineralization manifests as a low sulfidation epithermal gold deposit, probably associated with nearby volcanic dacite dome complexes. Low sulfidation epithermal gold deposits can be quite large (multi-million ounce) and several are located within the region. In addition to veins like the silicified dacite dike at San Lucas, the potential exists for ore bodies in altered porous rocks to occur in low sulfidation gold deposits. These are present at the nearby El Castillo gold mine owned by Argonaut Gold (recently acquired from Castle Gold) 20 km to the northeast (1,180,000 ozs Au).

Geological conditions at San Lucas are similar to those at El Castillo. Ore-forming hydrothermal solutions associated with the San Lucas silicified dacite dike have the potential to have formed significant gold deposits at depth in porous host rocks. Carbonate rocks outcropping close to the San Lucas silicified dacite dike also lead to the possibility of additional replacement deposits. Ongoing geological mapping/sampling at San Lucas is designed to identify locations at depth where favourable conditions exist for large deposits in porous receptive lithologies, similar to the El Castillo gold mine, and for carbonate replacement deposits.

San Lucas is also located near Silver Standard's San Agustin deposit, which has a published resource of 2.65 million ounces of gold and 84.9 million ounces of silver. San Agustin is 7 km north-northeast of San Lucas. San Agustin is also a low sulfidation epithermal deposit, in a dacite dome, and the gold/silver mineralization is hosted in quartz-sericite-pyrite (QSP) altered central zone. QSP alteration is abundant in the area of the San Lucas silicified dacite dike and is considered to be an important indicator of significant gold exploration potential. A QSP altered dacite dome has been located at the north end of the silicified dacite dike at San Lucas (see Figure 1). Its dimension is approximately 800m by 400m and adds considerably to the exploration potential of the project.

The results completed in 2009 reported herein were carried out by SGS Labs in Durango City, Durango, Mexico an internationally-recognized analytical service provider. The work reported was completed under the supervision of Michael R. Smith, President, CEO and Director of Oremex Resources Inc., a Registered Geologist and a Qualified Person as defined in National Instrument 43-101.

About Oremex:

Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's Tejamen project has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden Mining Industry Consultants completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation.

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/ORM%20-%20Figure1.pdf.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Oremex Resources Inc.
Michael Smith
CEO
416-309-4320
info@oremex.com

Oremex Advances Gold Discovery Zone at San Lucas

Mon, 21 Jun 2010 10:34:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/21/10 -- Oremex Resources Inc. (TSX VENTURE: ORM) is pleased to announce that the Company continues to advance its wholly-owned San Lucas property in Durango State, Mexico. San Lucas is a gold-silver-lead-zinc property located 7km south-southwest of Silver Standard's 2.65 million ounce San Agustin gold project. To date, Oremex has completed in excess of 10,000 meters of drilling (67 holes) on the property, defining a 3km long mineralized zone.

A comprehensive surface sampling and mapping program is underway at Oremex's San Lucas property to refine new drill targets. Results from the current surface sampling program are expected shortly. The company is planning to carry out a 2000m RC (reverse circulation) drilling program during 2010 on San Lucas.

Previous Results from San Lucas

In 2007 the Company completed a 47 hole, 7,000m drill program at the San Lucas property that yielded significant results that are summarized below in Table 1. The program was designed to test extensions of mineralization both down dip and along strike to silver-gold-lead-zinc mineralization defined in a 2005 drill program. Highlights from the main mineralized zone include: SL-34: 12m @ 71g/t Ag, SL-35: 12m @145g/t Ag, SL-46: 14m @ 158g/t Ag, and 8m @ 290g/t Ag including 2m @1857g/t Ag, and SL-49: 16m @81.7g/t Ag including 2m @ 615.6 g/t Ag.


----------------------------------------------------------------------------
Ag
(grams        Ag
Interval   From-to       per   (ounces
Drill Hole   (meters)    meters    tonne)  per ton)         Zn (%)    Pb (%)
----------------------------------------------------------------------------
SL-34              12    90-102        71       2.3            0.2       0.1
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4   126-130        35       1.1              -         -
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SL-35               4     60-64       116       3.7            0.6       0.6
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12   130-142       145       4.7            0.4       0.4
----------------------------------------------------------------------------
SL-44               8     68-76        36       1.2            0.1       0.1
----------------------------------------------------------------------------
SL-46              14    92-106       158       5.1            0.7       0.4
----------------------------------------------------------------------------
Incl.               4    96-100       456      14.6            0.9       0.8
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8   154-162       290       9.3            0.4       0.3
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greater than   greater
Incl.               2   154-156      1857      59.6            1.0  than 1.0
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SL-48               4     84-88       110       3.5            0.1       0.1
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SL-20              14     30-44      26.1       0.8            0.4       0.3
----------------------------------------------------------------------------
greater than
16     64-80      45.7       1.3            1.0       0.5
----------------------------------------------------------------------------
greater than
Incl.               6     64-70      60.9       1.8            0.7       0.8
----------------------------------------------------------------------------
SL-49              16    92-108      81.7       2.4            0.3       0.1
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Incl.               2     94-96     615.6        18            0.3       0.1
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SL-50               4     14-18      43.3       1.3  less than 0.1       0.2
----------------------------------------------------------------------------
4     30-34     168.6       4.9            0.2       0.4
----------------------------------------------------------------------------
2     50-52        96       2.8            0.4       0.1
----------------------------------------------------------------------------
SL-51               4    98-102      37.9       1.1            0.1       0.2
----------------------------------------------------------------------------

This information was originally press released on July 5, 2007 and October 16, 2007; please refer to the original press releases for additional technical information.

The company completed a reconnaissance surface sampling program in December, 2009 which identified gold mineralization along a silicified rhyolite dike that had previously not been recognized for its gold potential. The average grade of the 10 samples taken at San Lucas at a 0.20 g/tonne cutoff is 0.44 g/tonne Au.

Current Work Program at San Lucas

Follow up surface mapping shows substantially more mineralized thickness adjacent to the 1500+ meter long silicified dike than previously recognized. An 800m long section along a portion of the dyke has returned an average grade (23 channel samples representing portions of the true width) of 0.60 g/tonne gold (more sampling assay results are pending from other segments of the dike). Additional areas of gold mineralization have been identified in parallel mineralized zones. The gold mineralized dyke implies a significant mineralized system, with substantial potential in the dike and adjacent volcanic rocks. Additionally the potential for substantial mineralization at depth in potentially more receptive stratigraphic positions is also good.

"We continue to be impressed by the preliminary results at our wholly owned San Lucas property in Durango, Mexico" stated Mike Smith President and CEO. "The widespread gold and silver mineralization at the property and its geological similarities to other significant recent ore deposit discoveries in the area, give us reason to believe we may have a significant discovery".

Silver Standard's San Agustin project, with 2.65 million ounces in gold resources, is approximately seven km to the north-northeast on strike of the dike. The style of mineralization at San Lucas bears similarities to that of San Agustin and is in a well known area of significant recent ore deposit discoveries. The Oremex mining concessions at San Lucas total approximately 1,290 hectares and substantially cover the known area of gold mineralization.

About Oremex:

Contacts:
Oremex Resources Inc.
John Carlesso
Executive Chairman
416-309-4320
info@oremex.com

Oremex Resources Updates Progress at Tejamen Silver Project

Wed, 09 Jun 2010 08:30:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/09/10 -- Oremex Resources Inc. (TSX VENTURE: ORM) provides an update on its operations in Mexico.

The company continues to be very active at the Tejamen silver project, where Oremex owns 100% of the mineral rights and the mining concessions continue to be held in good standing. The Company's Community Infrastructure Program (CIP) continues to provide employment opportunities aimed at improving the local infrastructure in the village of Tejamen and surrounding communities.

Currently the surface rights to the project area reside with the Federal government (see Press Release December 21, 2009). The Company has been actively pursuing the involvement of a variety of parties to facilitate the awarding of surface rights at Tejamen, including: the Village of Tejamen; the Municipality of Nuevo Ideal; The Tejamen Community Association; the Governor of the State of Durango; the Federal Senator for the State of Durango; the Ministry of Economia at both the Federal and State level, which incorporates the Mining Ministry; ProMexico, the Federal Government's trade and business development vehicle; the Reforma Agraria at both the Federal and the State level, which is responsible for legal decisions regarding land ownership; and the Office of the President.

Despite what Oremex understands to be a straightforward and established process, the Reforma Agraria has yet to render its decision regarding ownership of the surface rights. This is required to establish with whom Oremex would conduct negotiations to facilitate a surface access agreement. None of these potential decisions impact the Company's right or ability to preserve the associated mineral rights that it owns outright.

Executive Chairman John Carlesso stated: "While we are disappointed with the pace of the resolution of this issue, this is not a reflection of our level of activity or dedication. While it has delayed the progress of the project, our ownership rights at Tejamen are not, and have never been, at risk. Oremex is committed to maximizing the value of this asset for our shareholders and we will see this issue through to completion."

While awaiting conditions to be established that will allow access to Tejamen, Oremex has been actively evaluating corporate and project opportunities. Additionally the company has been preparing for work programs to advance other projects within its portfolio. The Company expects to make additional announcements regarding these work programs shortly.

Mr. Carlos Pacheco has been promoted to the position of Manager of Business Development in Mexico and acts as manager of all of Oremex's activities in the country. Oremex welcomes Mr. Pacheco's growing involvement with the company and is proud to have him as a member of the team. Mr. Pacheco has approximately 20 years of mining expertise and has wide ranging experience in Mexico. Mr. Pacheco will be granted 50,000 stock options at a price of $0.10/share.

About Oremex:

Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's most advanced project Tejamen has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden Mining Industry Consultants completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation.

Contacts:
Oremex Resources Inc.
John Carlesso
Executive Chairman
416-309-4320
info@oremex.com

Oremex Resources Completes Private Placement

Fri, 28 May 2010 17:00:00 -0400

TORONTO, ONTARIO--(Marketwire - May 28, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM) ("Oremex" or the "Company") is pleased to announce that it has completed its previously announced private placement of 9,381,016 units, at $0.11 per unit, for gross proceeds of $1,031,911.76. Each unit consisted of one share of the Company and one-half of one share purchase warrant. Each whole warrant is exercisable to purchase one share of the Company, at $0.16 per share, until May 28, 2012.

The shares and the warrants (and the shares issuable upon exercise of the warrants) are subject to a hold period that expires on September 29, 2010.

The Company paid a finder's fee of $72,233.82 (7% of the gross proceeds of the offering).

The Company will use the net proceeds of the offering to fund Mexican operations, exploration and development on the Company's project portfolio, to pursue corporate acquisitions and for working capital and general corporate purposes.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Oremex:

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.
        John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.

Oremex Resources Announces Proposed Private Placement

Thu, 20 May 2010 17:09:00 -0400

TORONTO, ONTARIO--(Marketwire - May 20, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM) ("Oremex" or the "Company") announces that it intends to complete a private placement of units, at a price of $0.11 per unit, for gross proceeds of approximately $1,032,000. Each unit will be comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will be exercisable to purchase one common share of the Company, at a price of $0.16 per share, for a period of two years from the date of issuance.

The proceeds of the offering will be used to fund Mexican operations, exploration and development on the Company's project portfolio, to pursue corporate acquisitions and for working capital and general corporate purposes.

Completion of the offering is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after the date of issuance.

The Company may pay a commission or finder's fee equal to up to 7% of the gross proceeds of the offering, subject to compliance with applicable securities laws.

The Company expects to complete the offering before the end of May.

About Oremex:

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.
        John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.

Oremex Makes New Gold Discovery at San Lucas Project, Confirms Gold Mineralization at Santa Catarina

Mon, 18 Jan 2010 08:30:00 -0500

TORONTO, ONTARIO -- (MARKET WIRE) -- 01/18/10 -- Oremex Resources Inc. (TSX VENTURE: ORM) has received assay results from detailed outcrop sampling programs that demonstrate the San Lucas and Santa Catarina Projects, located in the Mexican States of Durango and Sinaloa, respectively, host significant gold mineralization. Previous drilling in 2007 at San Lucas was focused on silver/base metal veins to the west of the recently sampled and untested area. The Santa Catarina project has not yet been drill-tested.

The San Lucas project is located 7 km south-southwest of Silver Standard's 2.65 million ounce San Agustin gold deposit and hosts a similar style of rhyolite-hosted mineralization. At San Lucas, a previously un-sampled silicified rhyolite dike was sampled in the recent program. The vertical dike boldly outcrops over a strike length of over 1.5 km, forming a prominent continuous ridge to the east of the pueblo of San Lucas. A two lane paved road roughly bisects the dike, providing excellent access.

A total of 24 chip samples were collected along the main dike with assays ranging from 0.005 to 0.770 g/tonne (g/t) gold and averaging 0.22 g/t gold; the average of 10 samples above 0.20 g/t was 0.44 g/t gold. The reported samples were collected across portions of the rhyolite dike with sample widths ranging from 4 to 16 meters and averaging 8 meters. The true width of the mineralized dike is open. Follow-up sampling and mapping is planned to assist in laying out a drilling program to sample the full thickness of the dike and adjacent mineralization, as well as to test for mineralization at depth.

At Santa Catarina a recent 15 sample chip/channel sampling program indicates approximately 20 meters (true thickness) of massive sulfide mineralization (carbonate replacement), adjacent to an altered quartz diorite intrusion. The average grade across the outcrop is 3.2 g/t gold and 0.19% copper, with gold values up to 12.7 g/t. The massive sulfide outcrop area measures about 20 by 35 meters on surface and potential exists to expand the apparent volume of mineralization by drilling along strike and at depth. Gold mineralization is well established in the immediate area and the existing concessions will be further evaluated.

These assay results are from a program the Company initiated in 2009 to re-evaluate existing properties in its portfolio. While those evaluations are still in progress, some preliminary conclusions have been reached:

The El Sol Project warrants drilling with the objective of a quick determination of potential for silver-rich base metal skarns and replacement deposits, similar to those that exist at Silver Dragon's adjacent Cerro Las Minitas Project (resource of 763,830 tonnes averaging 211 g/t silver, 5.2 % lead, 7.1 % zinc and 0.5 % copper).

Maco and Chalchihuites, are under review by other companies with existing assets in Mexico and are perceived to have significant exploration potential for porphyry copper and silver/base metal deposits, respectively.

The Navidad project is still being assessed.

The Cuyoaco project has been dropped.

All analyses reported herein were carried out by SGS Labs in Durango City, Durango, Mexico an internationally-recognized analytical service provider. The work reported was completed under the supervision of Michael R. Smith, P.Geo, President, CEO and Director of Oremex Resources Inc., a Registered Geologist and a Qualified Person as defined in National Instrument 43-101.

About Oremex

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.

Contacts:
Oremex Resources Inc.John Carlesso
Executive Chairman
416-309-4320

Oremex Resources Completes Private Placement

Wed, 23 Dec 2009 17:00:00 -0500

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM) ("Oremex" or the "Company") has completed a private placement of 3,472,616 units, at $0.13 per unit, for aggregate gross proceeds of $451,440.08. Each unit was comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the Company, at $0.17 per share, until December 22, 2011. The private placement was completed on December 22, 2009.

The common shares and the warrants (and the common shares issuable upon exercise of the warrants) are subject to a hold period expiring on April 23, 2010.

The Company paid a finder's fee of $25,598.30 (7% of the offering price) on eligible subscriptions.

The Company will use proceeds of the offering to fund Mexican operations and for working capital and general corporate purposes.

About Oremex

Forward-Looking Statements

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.

Oremex Provides Progress Update at Tejamen

Mon, 21 Dec 2009 08:31:00 -0500

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM), is pleased to provide an update on the progress of its Community Infrastructure Program (CIP) as it nears renewing development activities at the Tejamen silver project in Durango, Mexico.

Infrastructure Program

Oremex continues to provide funding to the Municipality of Tejamen for local infrastructure repair and other projects that benefit the community. Employment in the program continues to increase as the CIP is broadly appreciated by the community and recognized as materially enhancing the quality of life in an area of Mexico that has been particularly hard hit economically over the past year.

Land Title at Tejamen

Oremex maintains 100% ownership of the mineral rights at the Tejamen project. Until recently it had been generally accepted that the surface rights for 900 hectares of land, upon which a significant portion of the Tejamen silver project sits, were owned by the local Ejido. However, according to information that Oremex has been able to obtain from the Reforma Agraria, the Mexican Federal agency responsible for establishing land title, the surface rights have in fact remained untitled. Further, according to a 1921 Presidential Decree the land was awarded to the Community of Tejamen. Following that grant to the community, surrounding and adjacent lands were subsequently granted and titled to the Ejido and private parties.

In accordance with the process required by Mexican agrarian law, the Reforma Agraria made the land available for title application. The Tejamen Legal Association (TLA) was formed specifically to apply for title and to the best of knowledge of Oremex, is the only group that has submitted an application for the 900 hectare land package as per the process. The TLA has elected leadership that represents the community around Tejamen, is supported by local Municipality Presidents and has the authority to negotiate agreements. As evidenced by the success of the CIP, Oremex has established very positive relationships with the community in general, the TLA, and the Municipality Presidents. Many members of the TLA have received employment through the CIP and are active supporters of Oremex within the community.

It is the company's understanding that at the completion of a thirty day window for public comment no legal objection to the process has been filed. There exists no legal precedent where a single applicant in this process has not been awarded title. The final remaining task in the process prior to the awarding of title is for Reforma Agraria to complete a legal survey to establish the precise boundary locations of the title block. According to the process, following completion of the survey the Reforma Agraria will be in a position to award title.

Oremex has commenced discussions with the TLA regarding the framework for continuing and extending community benefits within the context of expanded mining development activity in Tejamen toward the completion of a Feasibility Study on the Tejamen silver project.

The Company has granted options to purchase 1,300,000 common shares of the company to directors, officers, and consultants of the Company, subject to regulatory approval. The stock options were granted pursuant to the Company's stock option plan and are exercisable at a price of $0.15 per share.

About Oremex

Forward-Looking Statements

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.

Oremex Resources Announces Proposed Private Placement

Fri, 11 Dec 2009 17:00:00 -0500

TORONTO, ONTARIO--(Marketwire - Dec. 11, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM)("Oremex" or the "Company") intends to complete a further private placement of up to 3,461,538 units, at a price of $0.13 per unit, for aggregate gross proceeds of up to $450,000. Each unit will be comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will be exercisable to purchase one common share of the Company, at a price of $0.17 per share, for a period of two years from the date of issuance.

The proceeds of the offering will be used to fund Mexican operations and for working capital and general corporate purposes.

The Company intends a finder's fee equal to 7% of the gross proceeds of the offering for certain subscriptions.

The Company anticipates completing the offering on or before December 18, 2009.

About Oremex:

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.

Oremex Resources Inc. Announces Completion of Private Placement

Fri, 04 Dec 2009 16:00:00 -0500

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Oremex Resources Inc. (TSX VENTURE:ORM) ("Oremex" or the "Company") has today completed a private placement of 4,000,000 units, at a price of $0.13 per unit, for aggregate gross proceeds of $520,000. Each unit was comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the Company, at a price of $0.17 per share, for a period of two years.

The proceeds of the Offering will be used to fund Mexican operations and for working capital and general corporate purposes. The common shares and the warrants (and the common shares issuable upon exercise of the warrants) issued pursuant to the offering are subject to a hold period expiring four months and one day after the date of closing.

The Company paid a finder's fee equal to 7% of the gross proceeds of the offering.

About Oremex

Forward-Looking Statements

FOR FURTHER INFORMATION PLEASE CONTACT:
        Oremex Resources Inc.John Carlesso
        Executive Chairman
        416-309-4320

Source: Oremex Resources Inc.