/NOT FOR DISSEMINATION OUTSIDE OF CANADA/
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
VANCOUVER, Sept. 24, 2012 /CNW/ - Fresnillo plc ("Fresnillo") (LSE: FRES) today announced that it has acquired 2,000,000 units (the
"Units") of Orex Minerals Inc. ("Orex") (TSXV: REX) pursuant to a non-brokered private placement at a
purchase price of C$0.50 per Unit for a total of C$1,000,000. Each Unit
consists of one common share of Orex (each a "Share") and one half of a share purchase warrant of Orex with each whole
share purchase warrant exercisable for one Share at a price of C$0.75
Prior to the acquisition of the Units, Fresnillo held directly 2,500,000
Shares and 1,250,000 common share purchase warrants, representing
approximately 9.4% of the issued and outstanding Shares, on a fully
diluted basis. After giving effect to this subscription, Fresnillo
directly owns 4,500,000 Shares, representing approximately 10.27% of
the issued and outstanding Shares and on a fully diluted basis
(assuming exercise of all common share purchase warrants), representing
ownership of 15.4% of the issued and outstanding Shares. The
acquisition of the Units is being made for investment purposes only.
Depending on the market and other conditions, Fresnillo may, from time
to time, increase or decrease its ownership over the Shares, warrants
and/or other securities of Orex.
The Units were acquired in reliance on the "accredited investor"
exemption of applicable Canadian securities laws.
Forward Looking Statements
Fresnillo's intention with respect to future ownership of Orex
securities is a "forward-looking statement" within the meaning of
applicable Canadian securities laws and involves uncertainty because it
relates to future circumstances.
SOURCE: Fresnillo plc