Temex Intersects 2.22 g/t Gold over 35.70 Metres, 10.15 g/t Gold over 3.30 Metres Near Surface at Hallnor Mine, Whitney Property, Timmins

TSX-V:TME; FWB:TQ1

TORONTO, Nov. 14, 2011 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") reports that near surface exploration drilling on the Upper Hallnor Mine area of the Whitney Property (the "Property") intersected 2.22 g/t gold over 35.70 metres including 2.78 g/t gold over 15.80 metres and 10.15 g/t gold over 3.30 metres in hole TW11-163 at shallow depths.

Hole TW11-163 intersected several near surface quartz and quartz-carbonate stockwork zones 30 metres downhole, hosted within the footwall Timiskaming sediments near the unconformable contact with Tisdale volcanic rocks to the north of the Upper Hallnor Mine. This is the same contact zone that has seen significant production at Hallnor and from both underground and large open pit mining operations directly along strike and on the adjoining property to the east with the past producing Hoyle and Pamour Mines, comprising a 4 kilometre long corridor with past production of over 10 million ounces of gold.

The zones intersected in hole TW11-163 may represent the eastward extension of the 1-55 North and South Veins from which Temex has previously reported numerous high grade gold intersections.  Additional diamond drilling underway will test both the strike and down-dip extension to this broad zone of gold mineralization.

"These results demonstrate the excellent potential for us to define gold resources with both open pit and underground potential right in the centre of Canada's largest gold mining camp," commented Ian Campbell, President and CEO.

The results reported today are from a 12,000 metre drill program initiated earlier this year which is testing priority targets in the upper areas of the Broulan Reef and Hallnor Mines as well as other high priority exploration targets on the Property.  Assays are pending on several other holes.

Drilling is ongoing with two rigs working on the Upper Hallnor property testing several targets with the primary objective being the delineation of National Instrument 43-101 compliant gold resources at the Hallnor 6 Vein area and the 1-55 North and South Veins.  This work is designed to follow up on the excellent results obtained during the first phase program.

The Property hosts three past producing mines including the high grade Hallnor Mine which produced 1.7 million ounces of gold at an average grade of 0.40 ounce per ton (13.7 g/t) gold.  Exploration is being conducted by the Company under the terms of a joint venture agreement between Temex (60%) and Goldcorp Canada Ltd. (40%).  During the option period prior to earn-in, the Company completed 88 drill holes for 20,574 metres.

The joint venture with Goldcorp was formed in June 2010, and during the first year of the agreement 84 drill holes totalling 22,302 metres were completed.  The current campaign has completed an additional 13 drill holes for 4,267 metres for an aggregate of $2.5 million in exploration expenditures.  The Company and Goldcorp recently approved a $1.5 million budget to commence immediately and it is anticipated that two rigs will be operating well into the new year for an aggregate of $4.0 million in exploration expenditures by the end of the second anniversary of the agreement.

Ian Campbell, P. Geo., President and CEO of the Company, is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of this news release.

Table 1.  Significant results from drill holes reported in this release

Hole_ID    From (m)       To (m)      Core Length (m)      Au (g/t)   
Upper Hallnor - Footwall Zone      
TW11-163 30.00 65.70 35.70 2.22
     includes      30.00 45.80 15.80 2.46
includes 58.70 65.70 7.00 5.67
includes 58.70 62.00 3.30 10.15

About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district.  Temex is exploring its Timmins Whitney Property, in partnership with Goldcorp, and is expanding its NI 43-101 gold resource at the Juby Gold Project (Note 1) with an updated resource estimate planned for fall 2011.  The Juby Main Zone has a resource of 14.1 million tonnes at a grade of 1.36 g/t gold for 614,000 ounces of gold in the Indicated category and 18.3 million tonnes at a grade of 1.14 g/t gold for 602,000 ounces of gold in the Inferred category, both at a cut-off grade of 0.50 g/t gold.  Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (Note 2).  The tailings piles contain a resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the Indicated category.

Notes:

  1. Information regarding the mineral resource estimate on the Juby Main Zone is in the Company's news release dated June 15, 2010 and the technical report filed on SEDAR July 30, 2010.  The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by Allan Armitage, Ph.D., P. Geol., and Joe Campbell, B.Sc., P.Geo., "independent qualified persons" as defined by NI 43-101.

  2. Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project is in the Company's news release dated June 8, 2011 and the technical report filed on SEDAR July 21, 2011. The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by Allan Armitage, Ph.D., P. Geol., Alan Sexton, M.Sc., P.Geo. and Joe Campbell, B.Sc., P.Geo., "independent qualified persons" as defined by NI 43-101.

Forward Looking Statements:
This news release includes certain "forward-looking statements".  Such forward-looking statements involve risks and uncertainties.  The results or events predicted in these forward-looking statements may differ materially from actual results or events.  The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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.

SOURCE Temex Resources Corp.

For further information:

For more information please visit www.temexcorp.com or email: info@temexcorp.com or
phone: 416-862-2246   toll free: 866-373-6287

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Temex Resources Corp.

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