Temex and Nuinsco complete Agreement and commence exploration on uranium properties



    TSX Venture Exchange:TME, Frankfurt Exchange:TQ1

    TORONTO, July 10 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") and partner Nuinsco Resources
Limited ("Nuinsco") (collectively "the Companies") announce they have
completed final execution of the Option and Joint Venture Agreement and that
the first phase of exploration work has begun. The Agreement grants Nuinsco
the option to acquire a 50% interest in the Marijane Lake and Huston Lake
Uranium Properties (the "Claims"), by expending a total of $750,000 over a two
year period and by making certain cash payments and share issuances to Temex
(news release May 15, 2008). The properties are contiguous and located
approximately 70 km northwest of Kenora, Ontario and 75 km east of Lac du
Bonnet, Manitoba.

    
    Highlights

    -   Nuinsco and Temex execute Option and Joint Venture Agreement to
        explore uranium properties
    -   2,705 line-km helicopter-borne radiometric and magnetic geophysical
        survey completed; numerous high quality anomalies detected
    -   Secondary uranium minerals uranophane and boltwoodite confirmed by
        X-ray and electron microprobe analyses from 2007 prospecting samples
        from which anomalous values ranged from 0.047% to 0.130% U(3)O(8)
    -   Ground follow-up of airborne anomalies this summer with diamond
        drilling of priority targets planned for fall 2008
    

    Preliminary data have been received from a 2,705 line-km helicopter-borne
radiometric and magnetic geophysical survey flown in May by Geo Data Solutions
Inc. The gamma radiation spectrometer collected total counts for all
radioactive sources as well as separate counts for uranium, potassium, and
thorium. The survey was flown at 100 metre-line spacing and was designed to
provide detailed resolution over the claim blocks which were staked to cover
several prominent equivalent uranium radiometric anomalies apparent on
regional government sponsored surveys (1977) flown at 800 metre-line spacings
or greater. Despite the fact that these anomalies were the largest and
strongest in the region and that most of the other radiometric anomalies in
the region have associated uranium mineralization, there is no record of
previous uranium exploration on the Claims subsequent to the government
survey.
    The current airborne survey data received for the uranium counts have
provided significant resolution as compared with the previous regional
government data. Not only has the detailed survey provided greater definition
to focus the 2008 prospecting program, it has identified new hotspots within
areas that previously appeared as regional moderately anomalous areas. The
anomalies apparent on the new survey occur in discrete zones ranging from 0.2
to 0.5 km long, to broad areas of higher radioactivity over several kms along
the 45 km strike length of the Claims. Once the final survey data have been
received and evaluated, the Companies will be implementing a robust ground
follow-up program to field check the anomalies and prioritize targets for a
fall diamond drill program.
    Recent mineralogical work conducted under the direction of Dr. Richard
Taylor of Carleton University in Ottawa, has confirmed using X-ray
diffractometry and electron microprobe analysis that samples collected in 2007
contain the secondary uranium minerals uranophane and boltwoodite, both of
which are found in abundance at the Rossing uranium deposit in Namibia. These
samples were collected while prospecting for the source of some of the
anomalies detected by the government airborne surveys. Outcrops exhibited
powdery yellow staining, from which random grab samples returned values
ranging from 0.047% to 0.130% U(3)O(8).
    Commented Ian Campbell, President and CEO, "We welcome Nuinsco as our
partner in the exploration of this exciting early stage prospect and we are
very encouraged with the results achieved thus far and look forward to
advancing the project to the next stage."
    Karen Rees, P. Geo., General Manager, is the designated qualified person
responsible for the preparation of this news release. Temex is a well-funded
Canadian exploration company advancing its precious metal, nickel, diamond and
uranium projects in Ontario and Manitoba. For further information, contact Ian
Campbell or Bruce Durham at 416-862-2246 or visit www.temexcorp.com for more
detailed information on each project, and where the Company's latest
presentation has been posted. Investors may visit the Temex IR Hub at
http://www.agoracom.com/ir/Temex where they can post questions and receive
answers or review questions and answers already posted by other investors.
Alternatively, investors are able to e-mail all questions and correspondence
to mailto:TME@agoracom.com where they can also request to be added to the
investor e-mail list to receive all future press releases and updates in real
time.

    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: contact Ian Campbell or Bruce Durham at (416)
862-2246 or visit www.temexcorp.com

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Temex Resources Corp.

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