Temex and Mill City receive final approval - Airborne geophysical survey underway near Noront discovery



    TSX Venture Exchange:TME, Frankfurt Exchange:TQ1

    TORONTO, Feb. 14 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") announces it has completed all
documentation in relation to its Option and Joint Venture Agreement ("the
Agreement") with Mill City Gold Corp. ("Mill City"). The Agreement, announced
on December 12, 2007 covers nine properties encompassing more than 40,000
acres ("the Claims") in the vicinity of the Noront Resources Ltd. new Eagle
One nickel-copper-platinum-palladium discovery in northern Ontario. Mill City
has appointed Temex as operator during the earn-in period and Temex reports
that an extensive airborne survey of the Claims has commenced and preliminary
results are expected in March 2008.

    Highlights:

    The Claims consist of 1,012 mining units covering some 40,480 acres in
nine separate claim groups, on which there is no recorded history of
exploration. Temex and Mill City believe the Claims have potential to host
several deposit types including:

    
    -   nickel-copper-platinum-palladium mineralization (Noront type high
        grade)
    -   copper-zinc in volcanogenic massive sulphide setting (Spider type)
    -   diamonds (the original exploration target in the area; De Beers;
        Attawapiskat type)
    -   gold (Superior Diamonds-Lakeshore Gold type)
    

    Temex and Mill City report the commencement of high quality airborne
magnetic and electromagnetic surveys over the entire Claims. The
state-of-the-art helicopter-borne systems, which have led directly to the
Spider and Noront discoveries, will provide substantial amounts of precisely
located geophysical data quickly. This data will provide the basis for quick
definition of initial priority targets. The best targets will be quickly
ground detailed and are expected to be 'drill ready' for late winter drill
testing.
    Mill City and Temex have received TSX Venture Exchange ("Exchange")
approval for the transaction and in respect of the approval and as required by
the Exchange, Mill City commissioned a NI 43-101 compliant Technical Report
prepared in respect of the Claims and the transaction. The report has been
prepared and submitted to the Exchange for approval; and the approval was
recently granted by the Exchange. The Technical Report, authored by Brad
Leonard, P.Geo. of Caracle Creek International Consulting Inc., will be filed
on www.sedar.com by Mill City as required.

    Essential Terms of the Agreement

    Mill City has the option to earn a 50% interest in the properties by
completing the following: incur the first $2,500,000 in expenditures as
partial requirement to earn the 50% interest; pay Temex $300,000 cash and
issue 250,000 of its common shares to Temex; issue an additional 250,000
shares on or before the first anniversary of the agreement. If Mill City earns
a 50% interest in the Claims a joint venture will be formed with Temex to be
the initial operator of the joint venture. Additional information on the
Agreement is included in Temex news release dated December 12, 2007.
    Bruce Durham, P. Geo., is the designated qualified person responsible for
the preparation of this news release.
    Temex is a well-funded Canadian exploration company focused on advancing
its precious metal, diamond, nickel and uranium projects in Manitoba and
Ontario.

    On behalf of the Board of Directors,

    "Ian Campbell"

    Ian Campbell
    President and CEO

    (*)The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release(*)

    %SEDAR: 00005513E




For further information:

For further information: on Temex please contact Ian Campbell or Bruce
Durham, at (416) 862-2246 or visit the Company's website at www.temexcorp.com
where a recent presentation has been posted.

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