TORONTO, ONTARIO--(Marketwire
- April 29, 2009) - Oremex Resources (TSX
VENTURE:ORM) is extremely pleased to announce that the Company has
received formal invitation from the Community of Tejamen,
with the support of the Municipality of Nuevo Ideal, to restart its
working relationship with the Community.
As a starting point for broader development work at Tejamen,
the Company is commencing a strategic community works program within
the local village. The program will fund and create employment
opportunities for local residents to carry out refurbishment,
beautification, and infrastructure repairs within the community. Following
an initial review, as a good faith effort toward assisting the
Community of Tejamen, these projects will be
prioritized and initiated as soon as practicably possible.
Oremex Executive Chairman John Carlesso commented: "Since the introduction of
the new team and strategy in January, our efforts at having direct
interaction with both the community at-large and its leaders have
established improved levels of dialogue, understanding, and trust
between the Company and the community. These principles are fundamental
to the long-term success of a project of this nature and we are
committed to continuously supporting the development and growth of this
most important relationship."
"Regaining access to the community is a very significant
achievement within a relatively short period of time and reflects the
focus and dedication brought by our entire team to resolving this
critical, longstanding issue. We can now begin the long-overdue
development process at Tejamen that we expect
will bring meaningful economic and social benefits to the local
area" Carlesso added.
Chief Executive Officer Michael Smith stated: "The community is
eager for Oremex to commence work and this is
an excellent starting point to initiate a broader scope of programs. While
we continue to strengthen and improve the relationship with the people
of Tejamen we anticipate outlining more
specific details of a mining development program at the Tejamen silver project very shortly."
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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