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TORONTO, ONTARIO--(Marketwire - April 1, 2009) - The Board of
Directors of Oremex Resources Inc. (TSX
VENTURE:ORM) has appointed Mr. Michael R.
Smith as President and Chief Executive Officer of the Company.
Mr. Smith is a professional geologist with over 28 years of industry
experience and a focus on mine development and production. His career
highlights include being Chief Mine Geologist at Barrick
Gold Corp's (TSX:ABX) Goldstrike Mine and a
key member of the team that built the 2,000,000 oz
per year, 500,000 TPD operation, and managed all design and operational
aspects of its engineering geology. Mr. Smith went on to become Barrick's General Manager of Exploration and
Development in South America, a role that included responsibility for
all aspects of the Cerro Corona Project, now owned by GoldFields (LSE:GOF), from exploration through to
Feasibility. He has significant experience throughout Latin America,
including Mexico
and speaks Spanish fluently.
John Carlesso, Executive Chairman of Oremex commented: "Oremex
is extremely fortunate to have a professional with Mike's experience
and reputation to lead the operations of the company. His
specialization in mine development and production will be very valuable
as Oremex focuses on the advancement of the Tejamen project. Mike's enthusiasm and people
skills will also be a tremendous asset for us on the ground in Mexico."
Michael Smith stated: "I believe the Oremex
assets in Mexico
have tremendous value and am especially excited about the prospects to
develop the Tejamen silver deposit. The Wardrop and Snowden technical reports completed to
date indicate a robust open-pittable and
heap-leachable silver resource of roughly 50 million ounces of
contained silver. We will be very active in the short term and continue
to build the relationship with the local community, upgrade the
quantity and quality of the resource, initiate additional technical
evaluations, and establish budget and scheduling requirements toward
feasibility studies to convert resources to reserves. I'm thrilled to
be part of the team and look forward to working with the Board of
Directors to create value within Oremex."
About Oremex
Oremex is a Canadian-based exploration
company with a focus on the acquisition and development of mineral
properties in Mexico.
The Company's principal properties are the Tejamen
and San Lucas properties located in the State of Durango
and the Cuyoaco Property in the State of Puebla. The
Company's most advanced project 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 completed a
Preliminary Assessment Study (NI 43-101 compliant October 2006)
demonstrating that the project can support a 10,000 tonne per day open
pit, heap leach mining operation.
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. The Company undertakes no obligation to update
forward-looking statements should conditions or opinions change.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
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