October 9, 2012
TSX Venture Exchange
Trading Symbol: REX
Orex and Fresnillo Add Second Drilling RigTo Coneto Silver-Gold Project in Durango, Mexico
Vancouver, BC � Orex Minerals Inc. � ( (��), in conjunction with their project partner Fresnillo PLC (LSE: FRES) ("Fresnillo"), have added a second Diamond drilling rig to the ongoing Phase-II 12,000 metre Diamond drilling program on their Coneto Silver-Gold Project in Durango, Mexico. Kluane Drilling Ltd. is the service provider for Phase-II drilling at Coneto.
According to Orex�s President, Gary Cope, �This expansion of the drilling capacity illustrates the importance both companies place on the progress of our exploration at Coneto. We look forward to results from this current phase of Diamond drilling to be released this fall.�
Coneto Mining District � Durango, Mexico
The historic Coneto Mining District is situated in the heart of the �Mexican Silver Trend�, stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. The trend hosts some of the world�s largest silver deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles, and Zacatecas mining camps.
Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 hectares and cover more than 40 known mineralized epithermal quartz veins. The project is located in the Mesa Central, on the eastern flank of the Sierra Madre Occidental Mountains.
Ben Whiting, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has two current projects: its flagship property, the Barsele Gold Project located in Sweden, and the Coneto Silver-Gold Project situated in Durango, Mexico, currently under option to Fresnillo PLC.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.
For further information, please contact:
Jada Jennings
Sr. Communications/Investor Relations
(604) 684-4691 ext. 227
info@orexminerals.com
www.orexminerals.com
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Orex Minerals Inc.
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EXPLORATION STAGE |
CODE : REX.V |
ISIN : CA68616X1006 |
CUSIP : 68616Q |
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Orex Minerals is a silver and gold exploration company based in Canada. Orex Minerals holds various exploration projects in Mexico. Its main exploration properties are EL TIGRE, LAS SORPRESAS and PAMEL in Peru, BARSELE in Sweden and CONETO, SANTA CRUZ and LAS MESAS DURANGO in Mexico. Orex Minerals is listed in Canada. Its market capitalisation is CA$ 28.9 millions as of today (US$ 23.1 millions, € 21.7 millions). Its stock quote reached its highest recent level on August 12, 2016 at CA$ 1.38, and its lowest recent point on August 11, 2023 at CA$ 0.02. Orex Minerals has 113 430 000 shares outstanding. |