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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.

Contact:

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

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