Oremex Resources Inc.

Oremex Resources Inc. - Sale Completion of Encarnacion Mining Claims

    Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSXV symbol - ORM) (the "Company") announces the  completion of the sale to First Majestic Resource Corp. ("Majestic") of its  interest in the La Encarnacion Mining Claims (La Parilla) located in the  State of Durango, Mexico. The terms of the agreement requires Majestic to  pay Oremex CDN$40,000 and 200,000 common shares of Majestic.

    Don Smith, the Company's Chief Financial Officer, reported that this is  an excellent transaction for the Company and its shareholders. "We were  able to monetize non core properties and to raise approximately CDN$900,  000 for various exploration programs without any further dilution to the  existing shareholders."

    The Company had not conducted any work programs on the La Encarnacion  Mining Claims as the management of Oremex has decided to focus on the  development of the resources at its Tejamen Silver Property and San Lucas  Polymetallic Property. In April 2006, an independent resource study (43-101  compliant, available on www.sedar.com) 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.

    The Company is continually evaluating all of its mineral concessions.  Those that do not meet the strict criteria for principal property status  thereby warranting further exploration work will be available for sale. If  favourable terms can be arranged they will be sold. In addition the Company  is continuing to look for, and to acquire, new principal properties.

    The TSX Venture Exchange has not reviewed or does not accept responsibility for the adequacy or accuracy of this release. This news  release may contain forward-looking statements including but not limited to  comments regarding the timing and content of upcoming work programs,  geological interpretations, receipt of property titles, potential mineral  recovery processes, etc. Forward-looking statements address future events  and conditions and, therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in  such statements.

ots Originaltext: Oremex Resources Inc.
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Don Smith, CA, MBA, CFO, Telephone:
+1-(604)-683-5651, Fax: +1-(604)-630-0141 or send questions and
comments to: info@oremex.com



Weitere Meldungen: Oremex Resources Inc.

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