Oremex Resources Inc.

Oremex Update

    Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSX-V: ORM) (the "Company") today provided an  update on plans for completion of a feasibility study in 2008 for the  Tejamen Silver Property ("Tejamen"), State of Durango, Mexico.

    Discussions with representatives of the Ejido (local village and surrounding lands) continue to progress well, although more slowly than  anticipated. Oremex has generated significant support for development of  Tejamen from State, regional and local officials as well as the commercial,  health, educational and regional sectors, the priest of the Catholic Church  in the village and the general populace of Tejamen.

    Tejamen has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of  69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April  2006). Snowden Mining Industry Consultants ("Snowden") completed a  Preliminary Assessment Study (NI 43-101 Technical Report, October 3, 2006)  for Tejamen demonstrating that the project could support a 10,000 tonne per  day open pit, heap leach mining operation.

    Management has completed a revised internal analysis to refine the scoping study by Snowden which contemplated open pit mining from two mineralized zones, the Cerro Prieto and Los Mantos. The revised analysis,  based on cost estimates from Snowden and operating costs of comparable  Mexican mines, supports initial production solely from the Los Mantos Zone  which contains 70% of the silver defined to date. Under this plan of  operations, disturbance to the village would be minimal and it will not be  necessary to move the village as contemplated by Snowden. Production could  proceed for four to five years while exploration is conducted to expand near  surface resources.

    There is also good potential to explore, develop and ultimately exploit  by underground mining the higher grade feeder veins, intercepted by  previously drilled diamond drill holes, under both the Los Mantos and Cerro  Prieto zones.

    An aggressive development program to take Tejamen through to a feasibility study is planned for 2008. Infill and condemnation drilling will  include over 8,500 metres of diamond drilling and 32,700 metres of reverse  circulation drilling. The program will also include revised reserve  calculations; rock mechanics to maximize the slope angle of the pit,  optimize pit design and define the possibility of breaking the rock with a  ripper instead of explosives; blast vibration analysis for blast design that  would minimize any vibration impacts on the village; hydrological studies to  design a dewatering system for the pit; as well as metallurgical test work  to optimize the recovery process and plant design. In addition, the Company  will secure the required legal permits.

    The Company intends to retain an external engineering firm to review the  work while an internal feasibility study is being produced and, subject to  completion of the necessary work, prepare an independent NI 43-101 Technical  Report: Feasibility Study for the Tejamen Silver Property.

    In other news, the Company has received conditional approval from the TSX  Venture Exchange for acquisition of the Cuyoaco Property in the State of  Puebla, Mexico. The property has the potential to host both a high grade gold  system and a large copper-gold porphyry deposit. Located in an old mining  camp, sedimentary rocks are intruded by a diorite stock and numerous related  dykes. An exploration program of geochemical sampling and drilling has been approved for 2008 and will begin in February.

    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

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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