Oremex Resources Inc.

Oremex Provides Additional Information Regarding Status of Tejamen Silver Property

    Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSX-V: ORM) (the "Company") is providing  additional details pursuant to the Company's February 26, 2007 news release, which reported on the status of the Company's surface access rights to  the Tejamen Silver Property ("Tejamen").

    Under Mexican mining law, ownership of mining concessions confers certain rights with respect to minerals. With completion of the final payment to the underlying owner of the mineral concessions, the Company now  owns a 100 percent interest in the mineral concessions, with no ongoing  obligations or residual royalties payable to, or net profit interests  retained by, the former owners.

    Ownership of mining concessions does not confer surface access rights,  so that mineral concession holders must either negotiate access  arrangements with the owners of the surface rights, or undertake a federal  legal process for expropriation or temporary occupation.

    The governing Ejido of the village and surrounding lands owns the surface rights on the Company's mineral concession. For the past three  years, the Company has been granted the right to surface access by the  Ejido in order to conduct exploration on its mineral concessions. In its  activities, the Company has employed local labour to assist with its  exploration work and has made numerous contributions to community access  and infrastructure programs.

    Despite apparently successful negotiations with legal representatives  of the Ejido leading up to the formal Ejido meeting, the Company was  unsuccessful in securing a renegotiated agreement for surface access at  Tejamen from the Ejido by a narrow margin of votes of those present at the  meeting. The proposed agreement covered an expanded scope of activities  that included mining as well as exploration over an extended term.

    Mining law in Mexico defines the exploration, exploitation and processing of minerals as a public benefit which confers preferential status over any other use of the land. In addition, Agrarian law, under  which Ejidos are governed, provides for expropriation of Ejido and  community lands for the exploitation of minerals. In the absence of  agreements with local surface rights holders, many of the owners of  Mexico's operating mines today have sought and secured access to surface  rights through this legal process.

    While the Company is continuing discussions with the Ejido in order to  reach a mutually beneficial agreement, the Company has initiated  proceedings to gain surface access under applicable federal laws. Based on  the experiences of other companies operating in Mexico, this is a common  strategy. While it will cause some short-term delays, the Company does not  anticipate that it will hinder long-term development of Tejamen.

    The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

    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.
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Linda Thorstad, M.Sc., P.Geo., Chief
Executive Officer, T: +1-604-683-5651, E: linda.thorstad@oremex.com



Weitere Meldungen: Oremex Resources Inc.

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