Oremex Update



    VANCOUVER, Jan. 9 /CNW/ - 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.





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.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890