Oremex Resources Inc.

Oremex Reports Positive Results From Geotechnical Review for Tejamen Silver Property

    Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSX-V: ORM) (the "Company") is pleased to  announce that it has received an Initial Evaluation of the proposed pit  slopes for its Tejamen silver property in Mexico from Call & Nicholas, Inc.  ("Call & Nicholas") of Tucson, Arizona.

    The evaluation concludes that overall geotechnical conditions observed  in the field, and drill holes are very favourable. Laboratory rock strength  tests indicate a high rock quality. The findings generally support the pit  slope angles utilized in the independent Preliminary Assessment Study  completed by Snowden Mining Industry Consultants ("Snowden"). (Please refer  to news release dated October 3, 2006.)

    "The Call & Nicholas study represents another important step to advancing the Tejamen property," said Linda Thorstad, CEO.

    The Company's most advanced projects are its Tejamen silver property  and its San Lucas polymetallic property, both located in Mexico. An  independent resource study (NI 43-101 compliant, as reported in April 11,  2006 news release) concluded that the Tejamen 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).

    The independent Preliminary Assessment Study prepared by Snowden has  concluded that a 10,000 tonne per day open pit mining and heap leach  processing mining operation at the Tejamen property can support a  profitable operation when silver prices average US$8 per ounce and silver  recoveries exceed 65 percent. Metallurgical testwork to date indicates  recoveries for silver in excess of 70 percent.

    In other news, the Company has met the requirements for a Tier 1 company in accordance with TSX Venture Exchange Policy 2.5 and the Company's classification has changed to Tier 1 Mining Issuer effective Oct.  24, 2006.

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

CONTACT: 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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