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.

ots Originaltext: Oremex Resources Inc.
Im Internet recherchierbar: http://www.presseportal.de

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


	hier anmelden...