Temex Intersects Gold on Timmins Project Field Program Underway



    TSX Venture Exchange:TME, Frankfurt Exchange:TQ1

    TORONTO, Oct. 24 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") is pleased to announce drill results
from a recently completed 2,345 metre, 15 hole diamond drill program on the
Whitney Township and Pam Properties. The program followed up on three areas
drilled by Temex in 2005-2006 (Hugh Pam Conglomerate Zone, the Reef Offset
Zone, and the Reef Pit Zone) as well as tested three new target areas (Pam
Property, the West Banner Zone and the South Banner Zone). Temex has the
option to earn a 60% interest in the Whitney Township Property from the
Porcupine Joint Venture ("PJV", a joint venture between Goldcorp Inc. and
Kinross Gold Corporation).
    Six holes tested the Hugh Pam Conglomerate Zone where previous drilling
outlined two gold mineralized horizons, including results of 17.17 g/t gold
over 12.00 metres. All six holes intersected gold mineralization with the best
intersection being from hole TW-07-45, which included an assay interval of
2.47 g/t gold over a core length of 14.10 m, including 5.18 g/t gold over
4.70 metres. The main gold bearing zone called the Hugh Pam Conglomerate Zone
occurs above the Timiskaming unconformity. The second mineralized horizon, the
Mulholland Shear Zone, occurs in the footwall Tisdale group volcanic rocks
below the unconformity; this horizon has loosely been termed the Mulholland
Shear horizon.
    Three holes were designed to test for the down dip and western extension
of gold mineralization previously intersected by the Company at the Reef Pit
zone. One drill hole was drilled to intersect the down-dip extension and this
hole intersected 4.09 g/t gold over 4.15 metres, including 10.29 g/t gold over
1.35 metres. Two holes drilled to intersect the western strike extension of
the Reef Pit Zone returned no significant gold however the holes did intersect
alteration typically associated with gold mineralization along the Broulan
Reef Mine Trend.
    Two drill holes were completed to further test a gold zone, called the
Reef Offset Zone, discovered by Temex in 2006 (TW06-30) and interpreted to be
an extension of the Broulan Reef Shear Zone. Drill hole TW07-47 was drilled
above TW06-30 to intersect the up-dip extension of the Reef Offset Zone. No
significant assays were reported in either drill hole. Two drill holes
completed on the newly acquired Pam Property targeted a gold zone in the
north-central part of the property along strike from a previously reported
zone of gold mineralization in quartz-carbonate stringers within carbonate
altered volcanics intercepted in 1964 by Hollander Mines. No significant
assays were returned from these holes.

    Field Program Underway

    A field program consisting of geological mapping, geochemical sampling,
linecutting and surface geophysical induced polarization ("IP") and
magnetometer surveys is underway. The linecutting and geophysical surveys will
target the northwestern part of the property where very little previous
exploration has occurred. Historic exploration indicates the presence of
anomalous gold in till in the area as well as in bedrock from previous
overburden drilling campaigns. Two of the reverse circulation drill holes had
till concentrate samples which returned values of 11.27 g/t gold and 5.79 g/t
gold, both of which are considered by Temex to have high potential to
represent a proximal undiscovered bedrock source. The latter sample occurs
approximately 100 metres along strike to the east of an historic drill hole
which intersected 2.74 metres grading 9.69 g/t gold. Seven of the overburden
holes also encountered auriferous bedrock gold mineralization with results up
to 1.93 g/t gold.
    The Property is strategically located along strike 2.5 km to the west of
the Pamour mine (total historic production from underground and open pit of
52.2 million tons at 0.09 ounces gold per ton for 4.7 million ounces of gold)
where the PJV are currently conducting an open pit gold mining operation. The
Whitney Property includes the former Broulan Reef and Hallnor gold mines, the
latter of which produced 4.23 million tons at a grade of 0.40 ounces gold per
ton (1.69 million ounces gold) and was one of the two highest grade producers
in the Timmins camp. Temex has the right to explore the former Hallnor Mine
below the 1000 feet elevation (news release March 31, 2005). The Timmins camp
is one of the largest gold camps in the world with total historical production
in excess of 60 million ounces of gold.

    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: Ian Campbell or Bruce Durham, at (416) 862-2246
or visit the Company's website at www.temexcorp.com

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