Vancouver, Canada (ots/PRNewswire)
- Oremex Resources Inc. (TSX-V:
ORM) (the "Company"), Minera Montana S. de R.L. de C.V. ("Minera
Montana"), Canasil Resources Inc. ("Canasil") and its wholly owned
subsidiary Minera Canasil S.A. de C.V. ("Minera Canasil") are
pleased to announce completion of the transfer of claim titles for
100% interest in the Mezquital claims from Minera Montana to Minera
Canasil will issue 650,000 common shares and 75,000 share purchase
warrants to the Company, upon approval of the agreement by the TSX
Venture Exchange. Each warrant will entitle the Company to acquire
one common share of Canasil at a price of CDN$0.50 within 12 months
of regulatory approval.
"We are pleased to complete the transaction with Canasil," said
Linda Thorstad, Chief Executive Officer of the Company. "The sale of
the property generates a solid return on investment for Oremex
Oremex continues to focus on its two key properties: the Tejamen
Silver Property and San Lucas high grade silver-gold property. An
independent resource study (NI 43-101 compliant, as reported in
April 11, 2006 news release, has concluded that the Tejamen Silver
Property contains a silver- equivalent resource of 50.8 million
ounces in a total of 22.6 million tonnes, grading a
silver-equivalent of 69.8 grams per tonne (2.04 ounces per ton).
At the San Lucas Property, a 19-hole drill program outlined a high
grade silver-gold mineralized system with lead and zinc in volcanic
rocks over a two-kilometre strike length. Preliminary surface
mapping and sampling have traced the zone for an additional two
kilometres along strike from the original drilling. Drilling will
test extensions of mineralization in 2007 along strike and to depth.
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
ots Originaltext: Oremex Resources Inc.
Im Internet recherchierbar: http://www.presseportal.ch
For further information: Linda Thorstad, M.Sc., P.Geo. Chief
Executive Officer, T: +1-(604)-683-5651, E: email@example.com