Oremex Announces Warrant Extension
Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSX-V: ORM) (the "Company") today announced that it has received regulatory approval to extend the expiry date of 700,000 warrants by three months from March 21, 2007 to June 21, 2007. The exercise price remains $0.65 per warrant. The warrants were issued pursuant to a private placement of 1,400,000 shares with 700,000 non-transferable share purchase warrants attached which was accepted for filing by the TSX Venture Exchange effective September 20, 2005.
The Company continues to focus on its two key properties: the Tejamen Silver Property and San Lucas 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 completed in 2005 outlined a high grade gold-silver-gold-lead-zinc system in volcanic rocks over a two-kilometre strike length. A preliminary surface mapping and sampling program has traced the zone for an additional two kilometres along strike from the original drilling. A 5,000 metre drill program is currently testing mineralization along strike and at 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 achievements.
ots Originaltext: Oremex Resources Inc.
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