Oremex Negotiates Long-term Lease for Surface Use at San Lucas Property



    VANCOUVER, April 2 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the
"Company") announced that it has negotiated a long-term lease for use of
surface rights at its San Lucas Property ("San Lucas") with the Ejido
(governing authority for the village and surrounding lands). The lease
provides surface rights to 50 hectares of Ejido land for the purposes of
exploration, development and mining for a 30-year term. The terms of the lease
provide for annual payments of approximately US$2,000 (MP$20,000) and other
community improvements.
    "We are pleased to have negotiated this working arrangement for access to
surface rights with the Ejido of San Lucas," said Linda Thorstad, CEO of the
Company. "Our agreement provides significant long-term benefits for both the
Company and the Ejido."
    The Company is currently conducting a 5,000-metre drill program at
San Lucas, testing extensions down dip and along trend of mineralization. A
3,000-metre drill program completed in 2005 outlined gold-silver-lead-zinc
mineralization over a strike length of 2 kilometres with widths up to
70 metres in a trend mapped for over 4 kilometres.
    The Company is also continuing discussions with the local Ejido at the
Tejamen Silver Property ("Tejamen") while pursuing access to surface rights
through applicable federal laws. Tejamen, an open-pit, heap-leach project, has
an estimated net present value of US$97.4 million at US$12 per ounce silver
and US$155 million at US$15 per ounce silver (at a 7% discount) according to
an independent Preliminary Assessment Study prepared by Snowden Mining
Industry Consultants (NI 43-101 compliant, as reported in the October 3, 2006
news release). Projected production is approximately 4.5 million ounces of
silver per annum with direct cash operating costs of US$4.50 per ounce of
silver from a current resource of 50.8 million ounces.

    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.





For further information:

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

Organization Profile

OREMEX RESOURCES INC.

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