Oremex Resources Agrees to Acquire Cuyoaco Property



    VANCOUVER, Nov. 20 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the
"Company") announces that it has executed an agreement to acquire the Cuyoaco
Gold and Base Metal 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.
    The agreement provides the Company, through its wholly owned subsidiary
Oremexico S.A. de C.V., with the exclusive option to purchase a 100 percent
interest in the property over a four year period. The total purchase price of
US$3 million may be made by a combination of cash and shares of the Company
scheduled over the four years. The Company will make an initial payment of
US$150,000 and issue 100,000 shares. On December 31 of each subsequent year,
the Company will, at its option, make cash payments and share issuances as
follows: 2008 - US$100,000 and 200,000 shares; 2009 - US$150,000 and 200,000
shares; 2010 - US$250,000 and 200,000 shares and 2011 - US$1.5 million and 1
million shares. The Company has also agreed to complete the necessary work and
make the obligatory tax payments to ensure that the claims are in good
standing. The mineral concession owner is Francisco Crespo Hernandez, a
Director of the Company. The transaction is subject to the acceptance of TSX
Venture Exchange.
    The Cuyoaco Property is located in an old mining camp, formerly known as
the Talpizaco-Tateno Mining District. On the property, sedimentary rocks (with
limestone predominating) are intruded by a diorite stock and numerous related
dykes. Two claims, covering 643 hectares, encompass the former Santa Elena,
Santo Nino, Magistral and California-Durazno Mines. At the Santa Elena and
Santo Nino zones, coarse metallic gold and electrum in calcite stringers is
associated with narrow diorite dikes and adjacent skarns. Gold values from
underground workings range up to 3 grams per tonne. At the Magistral and
California-Durazno workings, copper-gold-lead-zinc anomalies suggest the
presence of a large porphyry copper-gold system.
    An independent NI 43-101 Technical Report, prepared by independent
consultant Norm Tribe, P. Eng., recommends acquisition of the project and a
program of trenching and 5,500 metres of diamond drilling as an initial phase
of work to assess the project.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    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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