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Orex and Astral Announce Signing of Arrangement Agreement
Published : December 10, 2012
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Mots clés associés :   G Mexico | Precious Metals |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Orex Minerals Inc. (TSX VENTURE:REX) ("Orex") and Astral Mining Corporation (News - Market indicators) ("Astral") announce that further to their joint press release dated October 15, 2012, they have entered into an arrangement agreement ("Arrangement Agreement") which provides for, among other things, the acquisition by Orex of all of the issued and outstanding common shares of Astral ("Astral Shares") by way of a court approved plan of arrangement ("Arrangement") pursuant to the Business Corporations Act (British Columbia).

Under the Arrangement, each Astral shareholder will receive one common share of Orex for every twelve Astral Shares held. All outstanding Astral options and warrants will be exchanged for options and warrants of Orex in an amount and at exercise prices adjusted in accordance with the same exchange ratio. For more information on the Arrangement and the merged entity that will result, see the joint press release of Orex and Astral dated October 15, 2012. The Arrangement Agreement can be viewed on either of the SEDAR profiles of Orex or Astral at www.sedar.com.

Each of the directors and officers of Astral have entered into lock-up agreements with Orex to vote their shares in favour of the Arrangement.

It is expected that the meeting at which Astral shareholders will be asked to vote on the Arrangement will be held in late January 2013. It is also expected that the information circular and other ancillary materials in connection with the meeting will be mailed to Astral shareholders on or before December 18, 2012. The Arrangement is expected to be effective before February 28, 2013.

Gary Cope, President & CEO of Orex, comments that: "We're pleased to have signed the Arrangement Agreement to acquire Astral. Though Los Crestones is an early stage project, our technical team is encouraged by assay results received to date, and we hope that our considerable exploration expertise in Mexico will help to advance the project."

About Orex Minerals Inc.

Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior exploration company with two very distinctive precious metals plays in its portfolio: Barsele Gold Project (Sweden) and Coneto Silver-Gold Project (Durango, Mexico). Please refer to www.orexminerals.com for additional information.

About Astral Mining Corp.

Astral Mining Corporation (News - Market indicators) is a Canadian company engaged in the exploration and development of precious metal properties in the Americas. By focusing on exploration in mining-friendly districts, Astral minimizes the political and social risks encountered in many other parts of the world. Please refer to www.astralmining.com for additional information.

ON BEHALF OF THE BOARDS OF DIRECTORS OF OREX AND ASTRAL: 
   
Mr. Gary Cope Mr. Manfred Kurschner
President & CEO President & CEO
Orex Minerals Inc. Astral Mining Corporation
   

For further information on Orex, visit www.orexminerals.com.

For further information on Astral, visit www.astralmining.com.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Forward Looking Information

This news release contains "forward-looking statements" including but not limited to statements with respect to Orex and Astral's plans, the estimation of mineral reserves and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, fluctuations in foreign currency exchange rates, possible variations in ore reserves or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations; and political and economic developments in countries in which Orex and Astral operate. Although Orex and Astral have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Orex (TSX VENTURE:REX) Shares outstanding 44,562,479

Astral (News - Market indicators) Shares outstanding 24,985,554

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Orex Minerals Inc.
Gary Cope
President & CEO
(604) 687-8566
info@orexminerals.com
www.orexminerals.com
or
Astral Mining Corporation
Manfred Kurschner
President & CEO
(604) 569-0800
info@astralmining.com
www.astralmining.com

Astral Mining Corporation

EXPLORATEUR
CODE : AA.V
ISIN : CA0463494033
CUSIP : 046349 40 3
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Astral Mining est une société d’exploration minière d'argent et d'or basée au Canada.

Astral Mining détient divers projets d'exploration au Canada et au Mexique.

Ses principaux projets en exploration sont JUMPING JOSEPHINE, HONEYMOON BC et BARRIERE RIDGE au Canada et LOS CRESTONES PROPERTY au Mexique.

Astral Mining est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 769 500 CA$ (584 949 US$, 523 939 €).

La valeur de son action a atteint son plus haut niveau récent le 13 juillet 2007 à 8,70 CA$, et son plus bas niveau récent le 21 septembre 2015 à 0,02 CA$.

Astral Mining possède 25 650 000 actions en circulation.

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Rapports annuels de Astral Mining Corporation
2008 Annual report
Annual Report 2007
Financements de Astral Mining Corporation
14/11/2007 Private Placement Oversubscribed
21/03/2007Private Placement Of Flow-Through Units With The Mineralfiel...
Projets de Astral Mining Corporation
07/09/2011Drilling Started on Los Crestones in Mexico
11/05/2011(Jumping Josephine)Announces Initial Resource Estimate at Jumping Josephine
25/03/2011(Los Crestones Property)Commences Exploration Program at Los Crestones Gold-Silver P...
08/03/2011(Barriere Ridge)Signs Option on Barriere Ridge Silver-Gold Project, Southern...
22/06/2010(Jumping Josephine)Commences Summer Exploration Program on Jumping Josephine Go...
03/05/2010(Jumping Josephine)Files Independent 43-101, Begins 2010 Field Program
16/03/2010(Jumping Josephine)Completes Infill Aeromagnetic Survey at Jumping Josephine an...
02/02/2010(Jumping Josephine)Announces Encouraging Metallurgical Testwork on Drill Sample...
17/12/2009(Jumping Josephine)To Acquire 100% Interest In Jumping Josephine Kootenay To Re...
29/10/2009(Jumping Josephine)Prepares Bulk Sample Permit Application for Jumping Josephin...
18/11/2008(Jumping Josephine)and Kootenay Intersect new Stockwork Zone and Extend Main Di...
04/06/2008(Bear Creek)Gold Summit Reports Drill Assay Results From Carolinas
14/11/2007(Jumping Josephine (jj))Announces First Results from Phase II Drilling on the Jumpin...
11/09/2007(Jumping Josephine (jj))Final Drill Results of Phase I at its JJ Gold Discovery & An...
12/07/2007(Jumping Josephine (jj))Drills 7.01 g/t Gold over 19 metres on Jumping Josephine Gol...
10/07/2007Intersects 1.98 m of 17.8 g/t Gold at Saluda Gold Project, S...
14/06/2007(Jumping Josephine (jj))Drills 9.95 g/t Gold over 10m on Jumping Josephine Gold Proj...
06/06/2007(Jumping Josephine (jj))Update on Astral's Jumping Josephine Gold Project Drilling P...
05/06/2007(Jumping Josephine (jj)) Options Property Adjacent to Jumping Josephine Gold Project
24/05/2007Announces High-Grade Gold Assay, Saluda, South Carolina
20/03/2007(Jumping Josephine (jj))To Drill The Jumping Josephine; Sets 2007 Exploration Budget
Communiqués de Presse de Astral Mining Corporation
05/02/2013Orex and Astral Announce Final Court Order Approving Arrange...
01/02/2013Orex and Astral Announce Results of Annual General and Speci...
21/01/2013Announces Annual General and Special Meeting
10/12/2012Orex and Astral Announce Signing of Arrangement Agreement
10/12/2012Orex and Astral Announce Signing of Arrangement Agreement
15/10/2012Orex and Astral Announce Merger by Way of Plan of Arrangemen...
12/12/2011PRESS RELEASE - New Astral Results in Mexico
12/12/2011re=3A New Astral Mining results from Mexico
07/07/2011Gitennes Reports Strong Set of Urumalqui Assay Results
24/05/2011Gitennes Reports More Results from Urumalqui Project - Peru
06/05/2008and Kootenay Form JV and Announce 2008 Exploration Program f...
09/04/2008to raise $1,800,000 CDN
06/02/2008 Starts Drilling on the Bear Creek Gold Prospect, North Caro...
05/11/2007Closes $1,021,000 Financing
28/09/2007to Raise Total of $1.25 Million Financing.
27/09/2007Mineralfields Group Invests Another $500,000 In Astral Minin...
25/09/2007Increases Offering to $750,000
21/09/2007To Raise $500,000
11/09/2007Announces Commencement of Phase II Drilling at the Jumping J...
30/04/2007Commences Airborne Geophysical Survey on Chenier Copper-Gold...
27/04/2007Raises $1,250,000.00
05/04/2007Closes Financing with MineralFields Group
15/03/2007JV with Gold Summit
22/02/2007Acquires Additional Gold Properties In Nevada
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